The global plant-based meat market at a CAGR of over 17% during the forecast period
NEW YORK, Jan. 8, 2020 /PRNewswire/ --
Global Plant-based Meat Market: About this market
This plant-based meat market analysis considers sales from plant-based beef, plant-based chicken, plant-based pork, and other types. Our study also finds the sales of plant-based meat in APAC, Europe, MEA, North America, and South America. In 2019, the plant-based beef segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing number of product launches and innovations will play a significant role in the plant-based beef segment to maintain its market position. Also, our global plant-based meat market report looks at factors such as new product launches, growing investments by vendors in the market, and an increase in the number of people following the vegan lifestyle. However, increasing consumption of animal meat, the development of cell-based meat products, and stringent regulations may hamper the growth of the plant-based meat industry over the forecast period.
Read the full report: https://www.reportlinker.com/p05837137/?utm_source=PRN
Global Plant-based Meat Market: Overview
New product launches
Consumers across the world are increasingly becoming health conscious. This coupled with growing concerns pertaining to GHG emissions in the animal meat industry, has increased the demand for plant-based meat products. This is encouraging market vendors to introduce new products to cater to the growing demand for plant-based meat food across the world. For instance, in June 2019, Beyond Meat Inc. launched its latest product, Beyond Beef, which is free from GMOs, soy, and gluten. The product is designed to provide the same versatility, meaty texture, and juiciness of traditional beef. Such successful product launches are helping vendors to increase revenue and expand their presence in the market. These factors will lead to the expansion of the global plant-based meat market at a CAGR of over 17% during the forecast period.
Growth of private label brands
The increasing prominence of private label brands is a positive trend that can influence the growth of the global plant-based meat market. Major retailers across the globe are coming with their own brands of plant-based meat products after realizing the growth potential of plant-based meat products. The private label product segment grew in terms of scope and size over the past decade. Unlike branded products, private label products are available at a low price. Thus, price-sensitive consumers are more likely to purchase private label products. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global plant-based meat market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading plant-based meat manufacturers, that include Beyond Meat Inc., Gathered Foods Corp., Impossible Foods Inc., Maple Leaf Foods Inc., Monde Nissin Corp., Moving Mountains Foods, The Kraft Heinz Co., The Tofurky Co. Inc., Tyson Foods Inc., and Unilever Group.
Also, the plant-based meat market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05837137/?utm_source=PRN
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