Plant-based Meat Market by Region – Global Opportunities & Forecast, 2020-2027

 Global Plant-based Meat Market

Growth chances in the Plant-based Meat Market look promising over the forecast period. This is because of the rising recognition about the health advantages offered by plant-based meat, intensified investment by major market players, and increasing product innovation.

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Plant-based Meat Market Dynamics

The increasing inclination towards plant-based meat from meat because of the growing agitation towards health and prevent climatic change is the main reason behind the growth of the global plant-based meat market. Further, the mounting number of flexitarians and vegetarians led by the sudden drift towards nutritional and healthy diets has stimulated the market growth. The plant-based meat contains all essential amino acids, vitamins, and elements similar to succulent taste and appearance. Also, the growing concern towards animal protection and greenhouse gas emission will bolster the plant-based meat market size.

Further, the advent of leading players such as Tyson Foods and Smithfield will proffer huge opportunities for an expansion in plant-based meat market share. For example, the Global livestock industry gauges for approximately 15% of the total greenhouse gas discharge and is projected to increase as meat consumption rises. Moreover, lawmakers across countries which include, Germany, Denmark, and Sweden have introduced an expansion on value-added tax on animal-based meat products.

Regional Drivers

The North American region is anticipated to lead the market over the forecast period. This is because of the accelerating vegetarian and flexitarian population. Further, as per the plant-based meat market analysis, the increasing cases of obesity & cardiovascular diseases have resulted in massive consumption of ready-made meat has banished consumers from meat. The consumers are inclined towards nutritious diets and plant-based products, tasting more like meat with the same protein content. However, Europe will perceive a significant growth because of the growing awareness about the benefits of vegan products among consumers and huge accessibility of plant-based meat items in grocery stores.

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