Market Snapshot

Market Overview

Market Overview

Plant meats have ingredients sourced from plants such as soy, to mimicking the texture of animal meat. Current innovations also claim that it offers the same cooking and eating experience as of traditional animal-based meat. Few hamburger outlets have introduced plant-based patties, which exactly matches the texture of the beef offered in the same outlet.

Consumers find potential advantages of plant-based foods, on the other side, and equate such items with better health outcomes and higher nutritional value. A 2016 study by Oxford University found that a ‘healthy’ diet (i.e. one that contains less meat) could prevent 5.1 million deaths worldwide by 2050. Meat-free protein products are no longer restricted to the relatively small group of consumers who identify as vegetarian or vegan. For example, 39 per cent of the U.S. citizens are actively using plant originated foods in their diets, and this shift is driven by millennials: 30 per cent eat meat alternatives every day, while 50 per cent eat meat alternatives several times a week.

The global plant-based meat market is driven by growing concern towards animal-based meat owing to global narrative that COVID-19 originated from wild animals. The growing vegan population in Europe, consumer awareness towards nutritional benefits, and innovations in food technology coupled with funding support from investment firms. Recently, in June 2020, Veganuary, the UK based non-profit organization introduced Veg Capital, funding solutions plant-based food companies. It will provide fund of around EUR 50,000 to 2,50,000 to the plant-based food startups.

Moreover, strong government intent also pitched the usage of plant-based meat in the forefront. Governments are now beginning to understand the climatic and environmental effects of diets. The expert panel of the review team recommended the inclusion of key material environmental indicators during the most recent revision of the US dietary guidelines in 2015. Denmark is considering proposals for imposing a red meat tax. In 2016, Sweden’s Green Party tabled a motion in the Swedish parliament calling for a climate tax on food.

Market participants in the plant-based meat market include Impossible Foods, V2food, Beyond Meat, Garden Protein International, Zhenmeat, Morningstar Farms, Novameat, Quorn Foods, Amy’s Kitchen, Omnipork, Maple Leaf Foods, Zikooin, The Vegetarian Butcher, Greenwise, Tofurky, Gold & Green Foods, Sunfed, and VBites. are some of the key players operating in the concerned market. They are competing on several factors such as price, product quality, taste, nutritional claims, brand value, advertisement, and promotions.

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Porter 5

Market Segmentation

Company Performance

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Table of Contents

Table of Contents

1. Research Methodology and Scope

2. Executive Summary

3. Impact of COVID-19 on Plant Based Meat Market Report

4. Market Dynamics

        4.1 Drivers

        4.2 Restraints

5. Competitive Landscape

        5.1 Key Strategies Adopted by Major Companies

6. Plant Based Meat Market Segmentation by Source

        6.1 Soy

        6.2 Wheat

        6.3 Peas

        6.4 Others

7. Plant Based Meat Market Segmentation by Product

        7.1 Burger Patties

        7.2 Sausages

        7.3 Strips & Nuggets

        7.4 Meatballs

        7.5 Others

8. Plant Based Meat Market Segmentation by Distribution Channel

        8.1 Retail Outlets

        8.2 Food Service

        8.3 E-commerce

9. Plant Based Meat Market by Geography

        9.1 North America

                 9.1.1 United States

                 9.1.2 Canada

                 9.1.3 Mexico

        9.2 Europe

                 9.2.1 United Kingdom

                 9.2.2 France

                 9.2.3 Italy

                 9.2.4 Germany

                 9.2.5 Rest of Europe

        9.3 Asia-Pacific

                 9.3.1 Singapore

                 9.3.2 India

                 9.3.3 Japan

                 9.3.4 Australia

                 9.3.5 Rest of Asia-Pacific

        9.4 South America

                 9.4.1 Brazil

                 9.4.2 Rest of South America

        9.5 Middle East and Africa

10. Plant Based Meat Company Profiles

        10.1 Beyond Meat

        10.2 Impossible Food Inc

        10.3 Maple Leaf Foods

        10.4 The Vegetarian Butcher

        10.5 Gardein Protein International

        10.6 Morningstar Farms

        10.7 Quorn Foods

        10.8 Amy’s Kitchen

        10.9 Tofurky

        10.10 Gold&Green Foods Ltd

9. Appendix

Research Methodology

Porter Five Forces Analysis

Major Players

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