According to Arizton’s latest research report, the plant-based meat market is growing at a CAGR of 14.72% during 2024-2030.
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Report Summary
Market Size (2030): $21.81 Billion
Market Size (2024): $9.57 Billion
CAGR (2024-2030): 14.72%
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Product Type, Meat Type, Source, Storage, Distribution Channel, and Geography
Geographic Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
The global plant-based meat market is witnessing remarkable growth, fueled by a surge in consumer interest in sustainable and ethical food alternatives. As the sector evolves rapidly, technological innovations are transforming the production of plant-based products, enhancing their taste, texture, and overall appeal to closely mirror traditional meat. Breakthroughs in extrusion processing, high moisture texturization, and fermentation technology are at the forefront of this transformation. The rise of flexitarianism, combined with increased health and environmental consciousness, is expanding the market beyond traditional vegan and vegetarian consumers. A growing preference for simple, transparent ingredients and premium, high-quality products highlights a shift towards more discerning food choices. With plant-based options now reaching mainstream audiences through major retailers and fast-food partnerships, the market is set to continue its upward trajectory, offering fresh opportunities for innovation and culinary exploration in the years to come.
Surge in Global Investment Fuels Growth of Plant-Based Meat Market
The growing global investment in the plant-based meat sector reflects a powerful shift toward sustainable, ethical, and health-conscious food choices. This surge in funding is driven by advances in technology, changing consumer preferences, and the growing emphasis on sustainable food systems. As governments and organizations increase their financial commitment to alternative proteins, companies can expand their offerings and meet the rising demand for diverse, flavorful meat alternatives. Notably, in 2023, Nestlé broadened its plant-based product range, introducing its first-ever shelf-stable plant-based minced meat, further demonstrating the industry’s potential to transform the global food landscape. With more investments in research, development, and commercialization, the plant-based meat market is poised to continue growing, reshaping the food industry to align with the values of environmentally and socially conscious consumers.
Supermarkets & Hypermarkets Market Distribution Channel to Capture the Major Share
Supermarkets and hypermarkets are playing a pivotal role in the global growth of the plant-based meat market by providing a wide-reaching and efficient distribution network. Retail giants like Kroger, Walmart, Tesco, and Carrefour make plant-based meat products easily accessible to diverse consumers across urban, suburban, and rural areas. In addition, stores in regions such as Asia and Australia are increasingly offering plant-based options, helping expand their availability. By dedicating sections to plant-based foods or positioning them alongside traditional meats, retailers improve visibility and attract a broader audience. Their strong supply chain infrastructure, advanced logistics, and established relationships with suppliers ensure a consistent and reliable product flow, which is key to building consumer trust and driving repeat purchases. This accessibility and reliability contribute significantly to the growing adoption of plant-based meat alternatives worldwide.
Plant-based Burger Patties Demand to Boom
The plant-based burger patty market is rapidly expanding as consumers increasingly embrace healthier and more sustainable food options. The universal appeal and convenience of burgers have made them an ideal vehicle for introducing plant-based options, allowing consumers to make the switch without sacrificing flavor or satisfaction. Major brands, including fast-food giants like Burger King and McDonald’s, have incorporated plant-based patties into their menus, meeting the rising demand for sustainable choices. In Europe, collaborations like The Vegetarian Butcher’s Rebel Whopper further reflect this trend. At the heart of this movement is the rise of flexitarianism—consumers looking to reduce their meat intake without fully giving it up. These plant-based burgers, marketed as healthier alternatives, align with the values of those seeking better choices for both their health and the planet.
Recent Vendor Activities
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Key Vendors
Segmentation & Forecast
Product Type
Meat Type
Source Market
Storage
Distribution Channel
Geography
Europe
North America
APAC
Latin America
Middle East & Africa
Key Questions Answered in the Report:
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