PLANT BASED MEAT MARKET ANALYSIS

Key Takeaways from Analyst

The global plant based meat market growth primarily driven by rising health consciousness and flexitarian diet trends among consumers. More people are reducing their meat consumption and switching to plant-based protein alternatives for perceived health and environmental benefits. Plant-based meat products offer similar taste and texture to animal meat but with lower fat, cholesterol, and calorie content which appeals to health-conscious consumers.

North America currently dominates the global market due to the presence of several plant-based meat startups and rising vegan population. However, the Asia Pacific region is expected to offer lucrative opportunities owing to growing middle class, changing dietary patterns, and the increasing adoption of western food habits. Europe is also emerging as a major market with favorable regulations supporting plant-based food products.

Despite strong growth opportunities, allergens related to ingredients used and higher prices compared to regular meat could hamper the wider adoption of plant-based meats. Moreover, consumers in developing nations still prefer conventional meat products based on taste preferences. Product developers will need to focus on further improving taste, texture, and sensory experience of plant-based meats to make them closely mimic animal meat.