Global Plant-Based Ham Market Size/Share Envisaged to Reach USD 1,610.39 Million By 2032, at 12.6% CAGR: By Growth, Opportunities & Demand Analysis Report

NEW YORK, July 12, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Plant-Based Ham Market Share, Size, Trends, Industry Analysis Report, By Product Type (Slices and Strips, Rolls, Roasts); By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail); By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global plant-based ham market size/share was valued at USD 493.50 Million in 2022 and is expected to touch USD 1,610.39 Million By 2032, growing at a CAGR of 12.6% during the forecast period."

What is Plant-Based Hams? How Big is Plant-Based Ham Market Size & Share?

• Overview

Plant-based ham, also known as vegan ham, is made entirely from plant-based ingredients. Plant-based ham is a meat-free alternative to conventional ham that is free from any animal products. It is designed to replicate the taste and texture of traditional ham. Some of the common ingredients in vegan ham include soy, wheat, peas, or Beans, which are processed using vegetable oil, spices, or natural flavors to enhance their flavor profile.

In recent years, plant-based ham has gained popularity due to increased awareness of the health and environmental benefits of a vegan lifestyle among people. Going with a plant-based can be a better option for your health as it reduces the consumption of saturated fat that can lead to heart disease. Rising awareness about the health benefits of vegan ham is driving the plant-based ham market size growth. Also, the growing demand for vegan and vegetarian options is propelling the market growth.

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Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Covered Are:

• Tofurky
• Nestlé
• The Very Good Butchers
• Yves Veggie Cuisine
• Quorn Foods
• The Vegetarian Butcher
• Loma Linda
• Herbivorous Butcher
• Sunfed Meats
• Vivera
• Field Roast
• Gardein
• Lightlife Foods
• Sophie's Kitchen
• No Evil Foods
• Alpha Foods
• Before the Butcher
• Plant Chef
• Fable Food
• Hooray Foods
• Vbites Food
• Gourmet Evolution
• Meliora Foods
• Zebra Food
• Light Life Foods
• Hain Celestial Canada

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Prominent Growth Driving Factors

• Surging market for plant-based ham: The increasing demand for plant-based food option has led to the exposure of various vegan retail food companies that produces a number of plant-based products. As a result, the plant-based ham market has experienced remarkable growth.
• Changing food sector: Rising attractiveness of vegan and vegetarian cuisine has been changing the food industry. As per the assessment by the trade association Plant Based Foods Association (PBFA) & Good Food Institute (GFI), in 2022, sales of plant-based foods in the United States solely reached around USD 8 Bn. Consumers easily find plant-based options as more retailers and restaurants are providing these products, which helps fuel the plant-based ham market sales.
• Plant-based ingredients and biotechnology: Businesses are able to produce their products using plant-based ingredients and biotechnology while reducing the amount of land, water, and other resources, as well as lowering greenhouse gas emissions. This is anticipated to boost the market growth during the forecast period.
• Lower environmental impact: The use of bioengineering in plant-based production enables more sustainable and efficient production methods. This has led to an increase in plant-based products' popularity among consumers who are concerned about the environmental impact of traditional meat production.

Recent Trends Influencing the Market

• Growing adoption of plant-based diets: Increasing consumption of plant-based products in the United States is accelerating market growth. The demand for these meat substitutes is predicted to increase as more customers learn about the advantages of such diets. Currently, 79 million American families, or 62%, purchase products made from plants. Customers who made repeat purchases in the area of plant-based products increased from 78% in 2020 to 79% in 2021, showing the growing customer commitment and interest in this industry. This factor is anticipated to create growth opportunities in the plant-based ham market throughout the foreseen period.
• Growing technological developments: With new technologies, companies are able to produce meat alternatives that replicate the texture and flavor of the original meat, which has led to the development of plant-based ham products.

Segmental Overview

• The slices and strips segment is predicted to show the fastest growth during the forecast period

Based on product type plant-based ham market segmentation, the slices and strips category is estimated to grow at the fastest rate.  Plant-based ham slices and strips can be utilized in different food items like sandwiches, salads, pizzas, and wraps because they are convenient and adaptable forms of meat alternatives which makes them a popular option for consumers who are searching for quick and easy meal solutions. In recent years, the taste and texture of plant-based ham slices and strips have enhanced.

• The supermarkets and hypermarkets segment dominated the market in 2022

In terms of distribution channel, the supermarkets and hypermarkets category witnessed the highest revenue share. Products like plant-based ham are easily available in supermarkets and hypermarkets. These products are gaining popularity as they are easily accessible, especially in urban areas. Thus, rising consumer awareness and demand for plant-based products drive the plant-based ham market growth.

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Plant-Based Ham Market: Report Scope

Geographic Overview

• APAC is expected to capture the major plant-based ham market share in the forecast period

Based on geography, APAC is projected to grow at the highest growth during the study period due to the escalating trend of vegetarian and vegan diets in the region, especially among youths who are extremely health-conscious and worried about the environmental effect of meat production. These factors are propelling the market demand in APAC. In addition, rising demand for healthier and more reliable food options among consumers is leading to an increase in demand for plant-based meat.

Moreover, in 2022, North America accounts for the larger revenue share in the plant-based ham market owing to the surge in awareness among consumers about the health and environmental benefits of plant-based diets. This awareness has led consumers to shift towards plant-based foods like plant-based ham.

Browse the Detail Report "Plant-Based Ham Market Share, Size, Trends, Industry Analysis Report, By Product Type (Slices and Strips, Rolls, Roasts); By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail); By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/plant-based-ham-market

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Recent Developments

• In February 2023, Japanese ham producer NH Food, popularly known as Nippon Ham developed two plant-based seafood treats called Fish fries and popcorn shrimp.

Key Offerings of This Report

• Market size and share assessment for regional and country-level segments
• Business opportunities, drivers, and success factors
• Current trends and the future potential of the market
• Market segment analysis by types, applications, and regions
• The competitive status of key players within the projection timeline
• Value chain analysis with price analysis and market forecast
• Region-specific growth and development in the market

Polaris Market Research has segmented the plant-based ham market report based on product type, distribution channel and region:

By Product Type Outlook

• Slices and Strips
• Rolls
• Roasts

By Distribution Channel Outlook

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research