The global plant-based meat market is undergoing a remarkable transformation. Valued at USD 7.9 billion in 2022, the market is projected to nearly double to USD 15.7 billion by 2027, growing at an impressive CAGR of 14.7%. This rapid expansion reflects shifting consumer preferences, technological advancements, and an industry-wide push toward sustainability.

From changing dietary habits to groundbreaking product innovations, several factors are fueling this momentum.

What’s Driving the Plant-Based Meat Boom?

The rise of veganism and flexitarian lifestyles is one of the strongest forces behind this surge. As more consumers choose to reduce or eliminate animal-based meat, plant-based alternatives have gained widespread acceptance.

Growing awareness of the health benefits associated with plant-based meat—such as lower cholesterol levels and reduced saturated fat—has further strengthened demand. Additionally, increased government support, rising R&D investments, and participation from major food industry players have accelerated innovation and market expansion.

Together, these factors are reshaping the future of the global protein industry.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44922705

Soy: The Leading Ingredient in Plant-Based Meat

When it comes to the source of plant-based meat ingredients, soy continues to dominate.

Soy’s high protein content and ability to mimic the texture of traditional meats such as pork, beef, and chicken make it a preferred option for manufacturers. Global demand—especially from European and North American consumers—has boosted soy production in regions like South America.

The growing consumer shift toward cholesterol-free, nutrient-rich foods has further cemented soy’s position as the largest source segment in the plant-based meat market.

Plant-Based Beef Leads the Way

Among product types, plant-based beef holds the largest market share.

Beef is traditionally popular across Europe and North America, and plant-based innovators have successfully developed alternatives that closely replicate its taste, texture, and cooking experience. Products such as meat-free beef pieces, plant-based burgers, no-beef steak, and beef watercress—often made from soy and wheat—are gaining popularity worldwide.

As consumers seek sustainable yet familiar options, plant-based beef is expected to maintain its leadership throughout the forecast period.

Burger Patties: Fastest-Growing Product Segment

The plant-based meat market includes various product categories such as:

• Burger patties
• Strips & nuggets
• Sausages
• Meatballs
• Other items (fillets, cutlets, slices, fingers, crumbles)

Among these, plant-based burger patties stand out as the fastest-growing segment.

Burgers have long been a global favorite, particularly in North America. With millennials and health-conscious consumers shifting toward vegan and plant-focused choices, plant-based burger patties have seen explosive demand. This segment has historically dominated the market, and this trend is expected to continue through 2027.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=44922705

E-commerce: The Fastest-Growing Distribution Channel

The rise of digital platforms has transformed how consumers purchase plant-based foods.

E-commerce is set to grow at the highest CAGR among distribution channels. Online retail offers shoppers:

• Convenience and home delivery
• Competitive pricing
• Greater product variety
• Enhanced brand engagement

The COVID-19 pandemic accelerated digital adoption, prompting consumers to rely more on online channels for grocery shopping. This shift is expected to boost the e-commerce share in the plant-based meat market significantly.

Europe: The Global Leader in Plant-Based Meat

Europe currently holds the largest regional share in the plant-based meat market.

Several factors contribute to this leadership:

• Strong consumer concerns over traditional meat products
• A massive rise in vegan, vegetarian, and flexitarian diets
• Advanced R&D facilities supporting product innovation
• Retailers and supermarkets rapidly expanding their plant-based offerings

European consumers’ growing emphasis on sustainability, animal welfare, and health continues to drive market growth in this region.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=44922705

Key Players Shaping the Future of Plant-Based Meat

The plant-based meat landscape is rich with innovation-driven companies. Major players are investing in cutting-edge technology, branding, and global expansion strategies to capture the growing demand.

Leading companies include:

• Beyond Meat (US)
• Kellogg Company (US)
• Impossible Foods Inc. (US)
• Maple Leaf Foods (Canada)
• Unilever (UK)
• Conagra Foods (US)
• Tofurky (US)
• Gold&Green Foods Ltd (Finland)
• Sunfed (New Zealand)
• Monde Nissin (Philippines)

These companies continue to pioneer new formulations, improve product quality, and drive greater market accessibility.