Global Market Research Reports : Ken Research: Demand for Global Plant Based Meat Market

Thursday, November 3, 2022

3 Key Insights on Competitive Landscape in the Global Plant-based Meat Market: Ken Research

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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Tuesday, November 1, 2022

3 Key Insights on US$ 15 Bn Opportunity in the Global Plant-based Meat Market: Ken Research

Driven by Consumers’ Preference for Vegetarian Alternatives due to Growing Concerns About their Health and the Welfare of Animals, the Global Plant-based Meat Market is Forecasted to Reach $15 Bn by 2028 says Ken Research Study.

Plant-based meat is composed of protein, fat, vitamins, minerals, and water, similar to meat derived from animals. Modern plant-based meat is similar to regular meat in terms of flavor, look, and preparation. Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

1. Rising Environmental Concerns to Propel the Market Growth

According to Research estimates, the Global Plant-based Meat Market – which was valued at around US$ 3 Bn in 2017 to reach nearly US$ 7 Bn by 2022 – is expected to grow further to more than US$ 15 Bn opportunity by 2028.

The physical characteristics of typical meat products are mimicked in meat replacements, which also share their flavor, texture, and look. Plant-based meat was primarily created to replace or lessen human reliance on animal meat. It is made from different kinds of materials like soy, pea, and wheat are some of the most commonly used raw ingredients for producing these foods. Compared to meat from animals, it is considered to be healthier and more environmentally friendly.

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2. Change in Consumer Behaviour to Positively Impact the Market Growth

Consumer food choices are changing considerably on a global scale. People are becoming more conscious of the importance of maintaining a healthy lifestyle and choosing a balanced approach to protein intake. To ensure that they stay active and healthy for a long time, consumers are taking a proactive approach and increasing their protein intake. As a result, they are altering their eating patterns and increasing their intake of plant-based protein foods.

Alternative proteins, such as meat replacements, are growing in popularity due to this reason. As a result, consumers are increasingly adopting vegetarian or flexitarian diets to either eliminate or reduce their meat intake and so indirectly lower carbon footprints, in turn expanding the Global Plant-based Meat Market.

3. Shortcomings in the Imitation of Plant-based Meat Impose a Negative Impact on the Market

Few plant-based meat products are much higher in contents like calories and saturated fatty acids which are considered quite harmful to the human body. Products like plant-based burgers have high calorie and saturated fat levels in comparison to meat-based burgers. The high salt content of the burgers may cause problems for the consumer's heart. The increasing use of these products could result in health problems, which impede the market's ability to grow in terms of revenue. Additionally, some plant-based meat substitutes are unhealthy due to their high processing levels, chemical additives, and fillers. These elements could have an impact on the market expansion.