Country-Niche Players Constitute ~70% Despite the Presence of about ~300 Competitors, finds a Recent Market Study on the Global Plant-based Meat Market
A food item prepared from vegetarian or vegan components and consumed in place of meat is referred to as a meat alternative or meat substitute, also known as plant-based meat. Meat substitutes often mimic the texture, look, flavor, or chemical properties of particular varieties of meat.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Regional Players Hold Around 45% of the Market Share Followed by the Global Players Holding ~30% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the Global Plant-based Meat Market is competitive with ~300 players which include globally diversified players, and regional players, as well as a large number of country-niche players having their niche in Plant-based Meat alternatives.
According to the research, the country-niche players held the dominant position in the market in 2021, in terms of the market share with about ~45% followed by regional players which account for ~30% of the market share.
Global Players have a Diverse Presence Across Different End-User Industries Promoting Market Growth.
With numerous global corporations and small producers operating their companies through a variety of products and a vast distribution network, the market is considerably competitive by nature. From product manufacturing to final product distribution to multiple places, the enterprises in the sector have a high degree of integration.
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Key players have a significant presence in various food products like burgers patties, sausages, strips & nuggets, and various others. Not just key players but also emerging players are expanding in different industries with Plant-based Meat products and are also involved in strategies like collaborations and technological development to compete in the industry.
- In October 2022, Licious introduced the "UnCrave" line of plant-based meats, which includes protein-rich vegetarian "chicken" and "muttan" seekh kebabs. Currently, the business is also selling an introductory single-serve pack for Rs 99. The ready-to-cook foods are guaranteed to be free of trans fat, artificial preservatives, and the flavor enhancer monosodium glutamate (MSG). The products have a shelf life of 12 to 14 days and require 8 minutes to cook.
- In September 2022, German supermarket chain REWE now has 50 stores with service counters that sell vegan products. Veggie substitutes for meat, sausage, cheese, and fish are available at the service counters. For instance, vegan steak, vegan BBQ skewers, vegan deli salads, vegan liver sausage, various matured cheese substitutes, vegan salami, and more.
Increased Adoption of Plant-Based Meat in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In October 2022, through Allana Consumer Products, the plant-based meat brand Beyond Meat entered the Indian market. Through this alliance, Beyond Meat's assortment of plant-based meat products, including Beyond sausage, Beyond burger, and others, will be distributed by Allana in the country.
- In October 2022, to increase client, reach and roll out new product options, Shaka Harry, a Global Plant-Based Meat Market company joined hands with Indian Cricketer MS Dhoni to promote plant-based meat products in India. The change occurs three months after Better Bite Ventures, Blue Horizon, and Panthera Peak Ventures led a $2 million seed fundraising round for Shaka Harry. According to the firm, it presently provides monthly services to more than 30,000 subscribers in 10 cities.
- In September 2021, With the production of vegan substitutes for meat, eggs, and dairy by food-tech startups and companies, India entered the US market for smart proteins. One such business, Greenest Foods, transported the first shipment of plant-based meat products from the western Indian state of Gujarat to the United States.
Key Topics Covered in the Report
- Snapshot of the Global Plant-based Meat Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Plant-based Meat Market
- Historic Growth of the Overall Global Plant-based Meat Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Plant-based Meat Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Plant-based Meat Market
- Future Market Forecast and Growth Rates of the Total Global Plant-based Meat Market and by Segments
- Market Size of Source / Type Segments with Historical CAGR and Future Forecasts
- Analysis of the Plant-based Meat Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the Report
- Beyond Meat
- Impossible Foods Inc.
- Starbucks Corporation
- Tofurky
- Kraft Foods, Inc.
- Lightlife Foods, Inc
- Maple Leaf Foods
- Sunfed
- VBites Foods Limited
- Trader Joe's
- Ojah B.V.
Notable Emerging Companies Mentioned in the Report
- Daring Foo Daring Foods Inc.
- ICL Food Specialties
- Burke Corporation.
- Plant & Bean
- Vivera
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Plant-Based Meat Manufacturers
- FMCG Companies
- HoReCa
- Ghost Kitchen Operators
- Food Safety Authorities
- Advertising Companies
- F&B Marketing Agencies
- Dietary Supplement manufacturers
- F&B Research Institutes
- Entrepreneurs in Vegan Food Industry
- Government Departments for Food Standards
- Online Retail Platforms
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more information on the research report, refer to the below link:
Global Plant-based Meat Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
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