Insights on the Plant Based Meat Global Market to 2025 - COVID-19 Impact, Competition and Forecast

The Global Plant-Based Meat Market, valued at USD 4291.58 million in the year 2019 is growing on the back of rising number

of buyers demanding plant-based meat product either for clinical reasons or for practicing healthy lifestyle. Also, producers

making efforts on a continuous basis for manufacturing plant-based meat (alternative source of protein) are the major factors

impelling the market growth. Furthermore, rising obesity rates across the globe, coupled with consumer interest in healthier

food alternatives, are also expected to drive the demand for meatless proteins during the forecast period of 2020-2025.

During the beginning of the coronavirus pandemic, the meat business was hammered by warnings of meat deficiencies

because of temporarily shuttered plants and growing number of sick workers. The market leaders such as Beyond Meat Inc .,

Impossible Foods Inc., and Tofurky Co. are increasing the level of production amid pandemic and also offering discounts on

their plant-based meat products to enhance consumer base, expanding stores, and completing partnership with

stakeholders.

Under the Source Segment, Soy dominates the overall Plant Based Meat market and continuous increasing demand owing

developing consumer consciousness of soy's various medical advantages and rising usage in wafers, snacks, cookies and baked items. Over the forecast period, the Pea Segment is also expected to increase as it is a high-quality and protein-rich option

veggie lovers, vegans, lactose-bigoted buyers, and people searching for nutrient rich protein substitutes

On the basis of Product Segment, the Burger Patties segment held the largest market share and value during the historical

period because of the introduction of numerous veg burger types along with various plant-based ingredients to satisfy

desire and taste of the consumer. Also, the continual research and development by the market leaders and startups

enhancing the designing, garnishing and structure of Plant Based Meats burger patties are attracting large group of flexitarians are expected to propel market demand of Plant Based Meat burger patties.

Among the regions, North America region is the most attractive region for the growth of Plant Based Meat market owing

rise in the veggie lovers and rising trend of vegetarianism among masses. Also, change in lifestyle, rising number of patients

suffering from Non communicable Diseases in the US, growing acceptance of plant sourced products due to its advantages

associated with health and existence of global leaders in the region are expected to pull the market growth.