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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