Plant based meat product refers to a diet that does not expect animal byproducts, they just focuses on plant foods such as seitan. Plant based meats are products designed to imitate animal meat. In plant based meat commonly found ingredients are legumes, soybeans, vegetable, proteins like peas, coconut oil, and others. Eating less meat decrease the risk of many kinds of cancers, obesity, heart diseases, and others. Plant based meat is generally healthy and can be used in sweet as well as savory dishes because it is flexible for making the dishes and popular choice for chefs to add flavor and excitement to their dishes or menus. Most plant based meat products have healthy fats, a considerable amount of protein, and fiber which can help to drive the market growth in forecast period.
Rising awareness about the health benefits of plant based meat products over animal meat products that can help to boost the market growth. The consumption of plant based meat products rapidly covered and prevent the risk of type-2 diabetes and cardiovascular diseases. For instance, in 2021, a food manufacture company Danone, partnered with Banza, a plant based meat product manufacture company, Danone and Banza collaborate with each other and launched a product namely chickpea-based pizza which is made from chickpea with using plant based cheese as topping.
To improve the quality of products and increase the demand of customers the manufactures are used the innovative components as well as procedures in their products such as ready to eat products which helps to drive the plant based meat market growth. For instance, in 2020, Nestlé, a food manufacture company launched ‘Nesquik GoodNes’ in the U.S, an oat and pea-based alternative to traditional Nesquik, which can boost the plant based meat market growth in the upcoming years. Additionally, in 2021, Oatly a plant based meat manufacture company launched cream cheese spreads, oat heavy cream, and whippable oat cream in Europe region which can drive the plant based meat market growth in forecast period.
Plant based meat product can contain higher amounts of sodium as compared to animal meat that can hampered the market growth. Moreover, many packaged plant based types of meat contain ingredients like added sugar, refined oil, and dextrose that can restrain the market growth. Some concerns over labeling are projected to restrict the global market growth while the rising number of players may provide expansion opportunities.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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