# The Stir To Be Different A Major Factor Of Growth Of The Plantbased Meat Market Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-12-01 Category: Research Reports Category URL: https://financedigest.com/category/research-reports Meta Title: Global Plant-Based Meat Market Overview and Trends Meta Description: Discover key insights on the global plant-based meat market growth trends and opportunities. Request samples at PMR now! URL: https://financedigest.com/the-stir-to-be-different-a-major-factor-of-growth-of-the-plantbased-meat-markethtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/research-report-2-1736836766207-compressed.jpg) Persistence Market Research delivers key insights on the global plant-based meat market in its upcoming outlook titled, ‘Global Market Study on the Plant-based Meat Market’. In terms of value, the global plant-based meat market is projected to register a healthy **CAGR of 5.8%** during the forecast period, due to various factors, regarding which PMR offers vital insights in detail. **To remain ‘ahead’ of your competitors, request for a samples@** [**https://www.persistencemarketresearch.com/samples/24592**](https://www.persistencemarketresearch.com/samples/24592) In recent years, the plant-based food [market has witnessed](https://www.financedigest.com/the-underwear-market-to-witness-calculated-innovation.html "The Underwear Market To Witness Calculated Innovation") significant growth, which is attributable to a rise in the awareness about the critical health benefits associated with the consumption of these kinds of food products. The [annual global](https://www.financedigest.com/toyotas-july-global-vehicle-output-drops-again-puts-annual-target-in-doubt.html "Toyota’s July global vehicle output drops again, puts annual target in doubt") sales of plant-based meat products has grown at an average of 8% since 2010. In the global market, Asian countries like [China have shown a rise](https://www.financedigest.com/dollar-slips-after-upbeat-china-data-euro-pound-rise.html "Dollar slips after upbeat China data; euro, pound rise") in the consumption of plant-based meat products year-on-year. Chinese consumers have been considering plant-based meat products in the daily diet, making the country one of the dominant plant-based meat [market on the global stage](https://www.financedigest.com/brexit-bull-markets-and-the-global-stage-2017-predictions-from-easymarkets.html "Brexit, bull markets and the global stage – 2017 predictions from easyMarkets "). On the other hand, the European and North American regions have been tagged as an [emerging regions for the global plant-based meat market](https://www.financedigest.com/blood-bag-tube-sealer-market-to-witness-excellent-revenue-growth-overview-emerging-trends-and-forecast-by-2028-2.html "Blood Bag Tube Sealer Market to Witness Excellent Revenue Growth, Overview, Emerging Trends and Forecast by 2028"). In Germany, one out of ten [consumers have been buying](https://www.financedigest.com/from-burgers-to-bleach-stressed-consumers-buy-cheap.html "From burgers to bleach, stressed consumers buy cheap") plant-based meat products at regular intervals. Most of these consumers are in the millennial age group, showing preference for plant-based meat products. Similarly, in Italy, [consumers have lowered](https://www.financedigest.com/germany-to-lower-sales-tax-on-gas-to-7-in-bid-to-relieve-consumers.html "Germany to lower sales tax on gas to 7% in bid to relieve consumers") the intake of red meat products, and are gradually triggering the demand for plant-based meat products. In North America, the U.S. [retail value sales](https://www.financedigest.com/italy-inflation-adjusted-retail-sales-fell-in-2022.html "Italy inflation-adjusted retail sales fell in 2022") for plant-based meat products have been surging over the past couple of years, surpassing the U.S. animal-based food market. This indicates a [rise in the demand for plant-based meat products by consumers](https://www.financedigest.com/factbox-how-far-are-uk-energy-bills-set-to-rise-and-what-help-are-consumers-getting.html "Factbox-How far are UK energy bills set to rise and what help are consumers getting?") in the country. The confluence of several critical factors such as higher penetration rate of social media channels, easy availability of critical information regarding the consumption of plant-based food products, consumers’ desire for a [healthy lifestyle](https://www.financedigest.com/healthy-lifestyle-benefits-a-guide-to-better-living.html "Healthy lifestyle benefits – a guide to better living"), and rise in per capita income in several developing nations has been triggering the demand for plant-based meat products on the global stage. The tenacity of consumers’ adoption of a healthy lifestyle, fat-free diet in the daily routine has been driving some of the major food manufacturers to come up with plant-based meat products. For instance, in 2016, Rosquette launched NUTRALYS®? T70S, a plant-based meat product, in order to cater to the [rising demand](https://www.financedigest.com/uk-home-asking-prices-rise-tax-cuts-to-spur-demand-rightmove.html "UK home asking prices rise, tax cuts to spur demand: Rightmove") for plant-based food products. In terms of revenue, the global plant-based [meat market is expected](https://www.financedigest.com/organic-beef-meat-market-expectations-growth-trends-highlighted-until-2027.html "Organic Beef Meat Market Expectations & Growth Trends Highlighted Until 2027") to represent an incremental opportunity of US$ 20,261.5 Mn by 2026 end over 2017. By product type, the RTC/RTE segment is [expected to register relatively higher CAGR growth](https://www.financedigest.com/universal-music-q3-earnings-beat-expectations-streaming-growth-slows.html "Universal Music Q3 earnings beat expectations, streaming growth slows") in the global plant-based meat market. The North American region is expected to register a **CAGR** growth of 8.3% over the forecast period due to a rise in the vegan population in the region. **To connect with our sales representative@** [**sales@persistencemarketresearch.com**](mailto:sales@persistencemarketresearch.com) **Drivers & Restraints for Plant-based Meat Market** Owing to a rise in the awareness about the critical [health benefits](https://www.financedigest.com/aon-completes-acquisition-of-health-and-benefits-brokerage-and-solutions-firm-admix.html "Aon completes acquisition of health and benefits brokerage and solutions firm Admix") gained by the consumption of plant-based food products, over the past couple of years there has been a rise in the overall vegan population, globally. In 2012, the vegan population accounted for around 25.6% of the global population. Among the vegan population, tofu is perceived to be the most similar alternative for meat, and consequently, other soy food [products like tempeh are also gaining popularity due](https://www.financedigest.com/apple-likely-to-cut-iphone-13-production-due-to-chip-crunch-bloomberg-news.html "Apple likely to cut iPhone 13 production due to chip crunch -Bloomberg News") to its texture, chewiness, and sensory attributes. Moreover, there has been concerns of rising obesity in most o developed countries like the U.S. and major parts of the [European region due to the intake of unhealthy and high cholesterol content food](https://www.financedigest.com/european-food-delivery-shapes-up-with-getirs-gorillas-buy.html "European food delivery shapes up with Getir’s Gorillas buy"). As a result, there is a shift in the preference for plant-based food products, such as plant-based meat products, which promotes good health among these consumers. The price of the product is one of the [factors that is considered](https://www.financedigest.com/7-factors-to-consider-before-your-business-moves-to-a-subscription-model.html "7 Factors to Consider Before Your Business Moves to a Subscription Model") by consumers while buying a meat alternative. Many [consumers have expressed concerns over the prices](https://www.financedigest.com/ikea-reports-record-sales-as-price-hikes-offset-weakening-consumer-confidence.html "IKEA reports record sales as price hikes offset weakening consumer confidence") of meat alternatives, which are relatively higher in some countries than meat itself. In such circumstances, these expensive [prices of plant-based meat products are likely to affect market growth](https://www.financedigest.com/liverpool-shines-as-one-of-uks-leading-ladies-for-house-price-growth.html "Liverpool shines as one of UK’s leading ladies for house price growth") in a bigger way than it appears, as positive consumer approach towards meat alternatives is not very mature, and high prices may drive away even those consumers who are ready to opt for meat alternatives. [**Analysis by Region for Plant-based Meat Market**](https://www.financedigest.com/milking-salve-market-in-depth-overview-growth-factors-regional-analysis-and-forecasts-outlook-2030.html "Milking Salve Market In-Depth Overview, Growth Factors, Regional Analysis and Forecasts Outlook-2030") On the basis of region, the APAC region accounts for a higher value [share in the global plant-based meat market](https://www.financedigest.com/armored-vehicle-market-size-share-growth-trends-and-forecast-analysis-to-2028.html "Armored Vehicle Market Size, Share, Growth Trends, and Forecast Analysis to 2028") in terms of value sales, due to the ever-rising consumption rate of plant-based food products in the region. China has been a dominant [region for the plant-based meat market](https://www.financedigest.com/mould-inhibitors-market-in-depth-overview-growth-factors-regional-analysis-and-forecasts-outlook-2030.html "Mould Inhibitors Market In-Depth Overview, Growth Factors, Regional Analysis And Forecasts Outlook-2030") in terms of consumption and production. North America is [expected to post higher growth](https://www.financedigest.com/contract-caterer-compass-expects-2023-profit-growth-to-top-20.html "Contract caterer Compass expects 2023 profit growth to top 20%") with a CAGR of 8.9% over the forecast period. **For in-depth competitive analysis, buy now@** [**https://www.persistencemarketresearch.com/checkout/24592**](https://www.persistencemarketresearch.com/checkout/24592) **Read More Trending “PMR Exclusive Article”** - **Global Market Study on Tempeh:** [**https://www.persistencemarketresearch.com/market-research/tempeh-market.asp**](https://www.persistencemarketresearch.com/market-research/tempeh-market.asp) **About Us:** [**Persistence Market Research**](https://www.persistencemarketresearch.com/about-us.asp) **Contact Us:** **Persistence Market Research** Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States U.S. Ph. – +1-646-568-7751 USA-Canada Toll-free – +1 800-961-0353 **Sales** – sales@persistencemarketresearch.com **Website** – https://www.persistencemarketresearch.com --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---