Increasing mushroom production and consumption, such as button mushrooms, oyster mushrooms, and others, will also fuel market expansion in the approaching years. Growing demand for plant-based foods such as tofu, soy, seitan, jackfruit, and others will also drive market expansion over the forecast period. One of the greatest impediments to the plant-based meat business is the high cost of the product. In comparison to animal meat products, plant-based meat products are pricey, which may lower market prices in India and china. Plant-based meat products may have greater levels of salt than animal meat, which may limit market expansion.
According to Coherent Market Insights, the Global Plant Based Meat Market was valued at US$ 5.06 Bn and is expected to reach US$ 20.76 Bn exhibiting a CAGR of 19.3% during the forecast period 2022-2030.
Key Companies in the Plant Based Meat Industry:
1. Beyond Meat
Beyond Meat, Inc. develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. Beyond Meat, Inc. was founded in 2009 and is headquartered in El Segundo, California.
2. Impossible Foods Inc.
Impossible Foods focuses on developing plant-based substitutes for meat, dairy, and fish products. It selects specific proteins and nutrients from greens, seeds, and grains to recreate the experience of meats and dairy products. Founded in 2011, Impossible Foods is headquartered in Redwood City, California.
3. Maple Leaf Foods
Maple Leaf Foods Inc. produces food products in the United States, Canada, Japan, China, and internationally. The company produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, snacks kits, fresh pork and poultry, and plant protein products. It offers its products under various brands, including Maple Leaf, Schneiders, Greenfield Natural Meat Co., Swift, Prime, Maple Leaf Natural Selections, Mina, Big Stick, Cappola, Deli Express, Field Roast Grain Meat Co., Holiday, Hygrade, Larsen, Lightlife, Lunch Mate, Main Street Deli, Maple Leaf Foodservice, Mitchell's, Olympic Craft Meats, Parma, Shopsy's, Sunrise, and Swift. Maple Leaf Foods Inc. is based in Mississauga, Canada. The company was founded in 1991.
4. Vegetarian Butcher
The Vegetarian Butcher is a Dutch producer of plant-based meat replacements. The company was founded in 2010, headquartered in Nehterlands.
5. Conagra, Inc.
The company produces and distributes frozen potato products to restaurants and consumers in the United States and internationally. The company was founded in 1994, headquartered in Washington, U.S. On Dec 21, 2018 ConAgra Foods Lamb Weston acquired Marvel Packers
6. Amy's Kitchen, Inc.
Amy's Kitchen, Inc. produces and markets natural and organic convenience foods. The company was founded in 1987, headquartered in California, U.S. On October 2020, Amy’s Kitchen entered an agreement to purchase renewable energy from Ørsted’s Sunflower Wind Farm based out of Marion County, Kan. The agreement, which will power nearly 30% of the organic frozen and packaged food maker’s operations, was created as part of Walmart’s renewable energy accelerator, dubbed the “Gigaton Power Purchase Agreement.”
7. OmniFoods
OmniFoods mission is to innovate food that will treat the planet right, treat animal’s right and treat us right. The company was founded in 2017, headquartered in Kowloon, Hong Kong.
8. No Evil Foods
No Evil Foods has been featured in VOGUE Magazine, BuzzFeed.com, FoodDive, and Hemispheres Magazine and has been recognized by the Martha Stewart American Made Awards & the Made in NC Awards. NEF is currently distributed to hundreds of restaurants, universities, and grocery stores across 12 states including Whole Foods Market & Earth Fare. The company was founded in 2014, headquartered in North Carolina, U.S. On Jan 22, 2021 Vejii Launches Iconic Brand No Evil Foods on ShopVejii.com
9. Dr. Praeger's Sensible Food
Dr. Praeger's Sensible Foods specializes in delicious, nutritious plant-based frozen and refrigerated foods. On Jan 21, 2021 Vestar Capital Partners acquired Dr. Praeger's Sensible Foods. The company was founded in 1994, headquartered in New Jersey, U.S.
*Definiton- plant based meat are made from plants not from animals and contain fats, minerals, proteins, water and vitamins.
