Plant-based meat market size is expected to grow from USD 17.1 billion in 2024 to USD 18.7 billion in 2025 and USD 54.8 billion by 2035, at a CAGR of 11.35%.

The Middle East And Africa Plant-Based Meat Market report segments the industry into Product Type (Plant-Based Meat, Plant-Based Dairy), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail Channels, Other Distribution Channels), and Geography (South Africa, United Arab Emirates, Saudi Arabia, Egypt, Rest of Middle East and Africa). This report provides historical insights and forecasts for the market.

As per Cognitive Market Research's latest published report, the Global Plant-based Meat market size was $5.23 Billion in 2022 and it is forecasted to reach $18.96 Billion by 2030. Plant-based Meat Industry's Compound Annual Growth Rate will be 20.18% from 2023 to 2030. What is driving the Growth of Plant-based Meat Market?

Rising investment in plant-based food:

Consumers have increased the adoption of the plant-based diet owing to various factors, such as improved overall health awareness, weight management, a desire to eat cleanly, and a desire to eat more sustainable food. This high inclination is majorly bolstered by social media awareness. Hence, plant-based meat has started hitting that sweet spot in food industry competing with animal-based meat products. Though the sale of plant-based meat in the U.S. accounts for less than 1% of the overall meat market, however, it is growing exponentially at significant growth rate.

Major companies are also investing in plant-based food encouraging plant-based meats market. For instance, companies like Beyond Meat and Impossible Foods have experimented for years to develop convincing meat replacements with plant ingredients like soybean roots and pea protein. Impossible Foods gets its burger to “bleed” by adding an iron-containing molecule called haemoglobin, and the Beyond Burger relies on beets to create a similar outcome. Moreover, restaurants are also initiating to promote plant-based meats. Restaurants like Terri NYC use improved versions of seitan, derived from wheat gluten, to create convincing “chicken” sandwiches. Thus, rising investment by major players is driving the growth of the plant-based meat market.

Current Trends on Plant-based Meat:

Pandemic Impacts:

The COVID-19 pandemic has severely impacted meat production, supply chain, and their prices. This has resulted in severe socio-economic crisis worldwide. Initially, low production and high demand for meat caused panic buying and has increased meat products' prices. Later the meat market saw a significant decline in both production and demand due to lockdown restrictions and lower purchasing power of the consumers. Disruption in supply chain worsen the situation within meat market as meat producers and processors faced difficulty in harvesting and shipment of the products due to lockdown situations, decrease in labor force, restrictions in movement of animals within and across the country and change in legislation of local and international export market.

Therefore, year 2020 seemed to be a right time to invest in plant-based meat alternatives or in cultured meat to combat this type of situation in the future. Hence, COVID-19 pandemic has re-shaped plant-based meat market from the global economies to product categories, pricing, and stock availability to consumer behavior.

Furthermore, in year 2021, China reported African swine fever, a deadly virus in pigs that created detrimental effect on pork production resulted in high prices. The disease has further created negative impact on consumers which also stimulated major inclination towards plant-based meat market. What is Plant-based meats and Its Current Status?

Plant-based meats are the products that perfectly mimics animal meats in texture as well as taste. Various protein sources, such as tofu, legumes, seitan, lentils, and soybeans are used to make plant-based meats. Moreover, it tends to be lower in saturated fat and calories, with high fibrous value.

Processed meat alternatives that imitate meat have been available across the globe for decades. However, new formulations have increased the acceptance of these products for consumers in recent times. Many people around the globe are switching to plant-based meat for environmental or health reasons.

The global plant-based meat market, as revealed in a newly published industry analysis by Fact.MR, is projected to reach a value of US$ 14.39 billion in 2024. Worldwide revenue from the sales of plant-based meat has been forecasted to rise at a CAGR of 5.8% and reach US$ 25.29 billion by 2034-end.

Report Attributes	Details
Plant-based Meat Market Size (2024E)	US$ 14.39 Billion
Forecasted Market Value (2034F)	US$ 25.29 Billion
Global Market Growth Rate (2024 to 2034)	5.8% CAGR
Market Share of Plant-based Meat Tempeh (2034F)	22.4%
Canada Market Growth Rate (2024 to 2034)	6.3% CAGR
North America Market Share (2034F)	24.3%
Key Companies Profiled	Amy’s Kitchen Inc.; Pinnacle Foods, Inc.; Impossible Foods Inc.; Kellogg Company; Beyond Meat Inc.; Meat. The End; Fry Group Foods (Pty) Ltd.; The Kraft Heinz Company; Turtle Island Foods, Inc.; Maple Leaf Foods; Tofurky; Sunfed; Yves Veggie Cuisine; Ligthlife Foods, Inc.; Vegetarian Butcher Conagra, Inc.; Trader Joe’s

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 1.53 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 2.8 Billion

Attribute	China
Market Value (2024E)	US$ 1.58 Billion
Growth Rate (2024 to 2034)	5.8% CAGR
Projected Value (2034F)	US$ 2.77 Billion

Attribute	Japan
Market Value (2024E)	US$ 931.5 Million
Growth Rate (2024 to 2034)	6.3% CAGR
Projected Value (2034F)	US$ 1.72 Billion

Category-wise Insights

Attribute	Tempeh
Segment Value (2024E)	US$ 3.48 Billion
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 5.66 Billion

Attribute	Industrial
Segment Value (2024E)	US$ 7.86 Billion
Growth Rate (2024 to 2034)	5.9% CAGR
Projected Value (2034F)	US$ 13.96 Billion

Snapshot img

Plant-Based Meat Market Size 2024-2028

The plant-based meat market size is forecast to increase by USD 27.29 billion, at a CAGR of 36.92% between 2023 and 2028.

The market represents a significant and dynamic business landscape, characterized by continuous innovation and evolving consumer preferences. The sector's growth is driven by various factors, including the increasing consumption of meat substitutes and the changing demographics favoring plant-based diets. According to recent market data, plant-based meat sales have shown a notable increase, with the sector accounting for approximately 23.3% of the total meat alternatives market share. This figure underscores the growing popularity of plant-based meat products and the substantial market potential they hold. The plant-based meat industry's dynamics are shaped by several trends and factors. Consumers are increasingly seeking more sustainable and ethical food options, leading to a growing demand for plant-based meat alternatives.
Additionally, advancements in food technology have enabled the production of plant-based meat that closely mimics the taste, texture, and appearance of animal meat. Moreover, the market's evolution is influenced by the entry of new players and partnerships, as well as collaborations between established food companies and plant-based meat startups. These developments contribute to the ongoing competition and innovation in the sector, driving growth and expanding the market's reach. In conclusion, the market presents a dynamic and evolving business landscape, characterized by increasing consumer demand, technological advancements, and a growing number of players. The sector's continued growth is driven by various factors, including changing consumer preferences, sustainability concerns, and ethical considerations.

Major Market Trends & Insights

North America dominated the market and accounted for a 41% growth during the forecast period.
By the Foodservice System, the Frozen sub-segment was valued at USD 1.38 billion in 2022
By the Type, the Plant based beef sub-segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 1.00 billion
Future Opportunities: USD 27.29 billion 
CAGR : 36.92%
North America: Largest market in 2022

What will be the Size of the Plant-Based Meat Market during the forecast period?

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In the dynamic market, cell culture technology plays a pivotal role in replicating the texture and taste of conventional meat alternatives. Nutritional labeling regulations are increasingly stringent, necessitating precise protein structure prediction and color stability. Waste reduction methods are a priority, with xanthan gum and hydrocolloid blends employed for binding and texture. Food safety standards are non-negotiable, with flavor compound analysis ensuring product consistency and quality. Protein structure prediction and color stability are essential for maintaining product integrity and meeting consumer expectations. Future growth in this sector is projected at 15%, driven by advancements in flavor enhancers, process automation, and life cycle assessment.
Comparatively, soy protein isolate, pea protein concentrate, and heme compounds have shown significant yield improvement through technological advancements. Microbial biomass and probiotic strains contribute to nutrient fortification, while texturizing agents and natural colorants enhance sensory appeal. Plant sterols and preservation techniques extend shelf life, and lipid modification and hydrocolloid blends optimize energy consumption. Cellulose fibers and wheat gluten are alternative protein sources gaining traction, while mushroom protein and algae protein offer unique nutritional profiles. Hemp protein and functional ingredients add value to the market, with continuous innovation driving growth and sustainability metrics.

How is this Plant-Based Meat Industry segmented?

The plant-based meat industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Foodservice System

  Frozen
  Refrigerated
  Shelf-stable


Type

  Plant based beef
  Plant based chicken
  Plant based pork
  Others


End User

  Retail/Household
  Foodservice
  Institutional


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Foodservice System Insights

The frozen segment is estimated to witness significant growth during the forecast period.

In the dynamic and evol

Global Plant-Based-Meat market size is expected to reach $19.53 billion by 2029 at 14.2%, segmented as by product type, burger patties, sausages, strips, nuggets, meatballs, other product types

The Plant-based Meat Market size was valued at USD 5.23 billion in 2023 and is projected to reach USD 24.80 billion by 2032, exhibiting a CAGR of 24.9 % during the forecasts period. Plant-based meat refers food produced from non-meats, or occasionally without any other animal product that acts as meat substitute and has a similar protein content. These products look like meat and also have taste like meat. Increasing number of health-conscious people across the globe and awareness about plant-based diet and its benefits is driving the market. As compared to regular meat products, plant-based meat is expensive and lack of taste and texture. However, providers are continuously improving taste and texture of plant-based meat products for its wider acceptance. Further, plant-based meat products can be easily available at supermarkets, restaurants and online platforms, which is expected to fuel the growth in market.

In 2024, the market value of plant-based meat substitutes worldwide was estimated to be worth ***** billion U.S. dollars. This figure is estimated to steadily increase over the coming years and reach roughly ***** billion in 2028. Meat substitutes Meat substitutes are plant-based products that try to emulate meat products in taste, texture, smell, and appearance. These alternatives exist in a high variety of forms, like the diversity of meat products they are imitating. Plant-based products have achieved a strong position in the market and are now a mainstay in many grocery stores around the world. Currently, over *** million kilograms of meat substitutes are consumed globally. Consumer adoption varies significantly across the globe. *******, ********, and *************** show the highest rate of regular consumption of meat substitutes among their populations.Meat Substitutes in the United StatesIn the United States, meat substitutes get regularly consumed by ** percent of consumers. To put this number into perspective, a comparison to other products is useful. In the same survey, about ** percent of consumers stated that they regularly consume bread and bakery products, and the same share of respondents eat potatoes regularly. Both categories show regular consumption levels of around **** times the level of meat substitutes. In total, the market in the U.S. alone generates an annual revenue of *** billion U.S. dollars.

Global Plant-Based Meat Market estimated size and share is predicted to surpass USD 38,273.9 Million, with a forecasted CAGR of 19.8%.

In 2023, tofu and tempeh products accounted for 32 percent of all plant-based protein sales in the U.S. foodservice segment. Plant-based meat and seafood accounted for half of the market.

The size of the India Plant-Based Meat Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 11.55% during the forecast period. The plant-based meat industry has emerged as a significant segment of the global food market, driven by increasing consumer demand for sustainable and healthier protein alternatives. As concerns about climate change, animal welfare, and health issues rise, more consumers are shifting from traditional meat products to plant-based options. This sector includes products made from a variety of ingredients, such as soy, peas, lentils, and other vegetables, which are designed to mimic the taste and texture of animal-based meats. Major companies like Beyond Meat and Impossible Foods have pioneered innovations in this space, creating burgers, sausages, and other meat substitutes that appeal not only to vegans and vegetarians but also to flexitarians—those who are reducing their meat consumption without eliminating it entirely. Recent developments include: February 2023: Impossible Foods’ introduced a new plant-based chicken products line-up.October 2022: Allana Consumer Products has partnered with Beyond Meat Inc.to distribute Beyond plant based Meat's range of beyond burger, meatballs, sausages, minced meat throughout the India.June 2022: Coffee chain Tata Starbucks has tied up with plant-based food company Imagine Meats to sell vegan food in India.. Key drivers for this market are: Increasing Demand for Protein-Rich Food, Increasing Demand for Plant-Based and Organic Ingredients. Potential restraints include: Presence of Counterfeit Products. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The size of the U.S. Plant-based Meat Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 23.9 % during the forecast period. Plant-based meat refers to food products designed to mimic the taste, texture, and appearance of traditional animal-based meat, but made entirely from plants. These products are typically crafted from ingredients like soy, pea protein, lentils, mushrooms, and other plant-based sources, which are processed and flavored to replicate the characteristics of meat. Plant-based meats are often used as alternatives in popular meat dishes such as burgers, sausages, and nuggets, offering a solution for individuals who choose not to consume animal products for reasons related to health, ethics, or environmental sustainability. The rise in plant-based meat consumption is driven by growing awareness of the environmental impact of livestock farming, concerns about health risks associated with excessive meat consumption, and a desire for cruelty-free food options. These products aim to provide similar nutritional benefits, such as protein and iron, while often being lower in saturated fat and free from cholesterol. Plant-based meats are seen as a key innovation in the food industry, contributing to a shift towards more sustainable and ethical food systems.

The India plant-based meat alternatives market is projected to reach a valuation of USD 557.98 Million by 2033, expanding at a CAGR of 10.2% during the forecast period (2025-2033). This growth can be attributed to the increasing demand for plant-based meat alternatives due to rising health awareness, environmental concerns, and animal welfare issues. Moreover, the growing vegan and vegetarian population, along with the launch of innovative and flavorful plant-based meat products, is further propelling market expansion. Key trends shaping the market include the emergence of hybrid and clean-label products, technological advancements, and strategic collaborations among market players. Companies are focusing on developing products that mimic the taste, texture, and appearance of traditional meat products, making them more appealing to a wider consumer base. Additionally, the expansion of distribution channels, such as e-commerce platforms and specialty retail stores, is providing increased accessibility to plant-based meat alternatives, driving market growth. Recent developments include: September 2024: Vezlay Foods teamed up with the Catchy Court app to enhance accessibility to its plant-based offerings. Through this partnership with Catchy Court, a rising marketplace app known for delivering premium food products directly to consumers, Vezlay Foods guarantees that its top-tier plant-based meals and snacks are just a click away.July 2024: Vezlay Foods rolled out its latest offering: Vezlay Crispy Veg Chicken. This new product is designed to entice not just vegetarians and vegans, but also those looking to cut back on meat without compromising on taste.July 2024: Spice Grill Flame (SGF) India, a vegetarian restaurant chain, unveiled a fresh vegan menu featuring two distinct categories: 100% Plant-Based Protein and Vegan.. Key drivers for this market are: Rising Vegan Population, Focus On Animal Welfare. Potential restraints include: Rising Vegan Population, Focus On Animal Welfare. Notable trends are: Textured Vegetable Protein Is A Preferred Choice In Plant Based Meat Products.

The Europe Plant-based Meat Market size was valued at USD 3.56 billion in 2023 and is projected to reach USD 13.06 billion by 2032, exhibiting a CAGR of 20.4 % during the forecasts period. Food produced from non-meats, or occasionally without any other animal product, is referred to as plant-based meat that acts as meat substitute and has a similar protein content. These products look like meat and also have taste like meat. Increasing number of health-conscious people across the region and awareness about plant-based diet and its benefits is driving the market. As compared to regular meat products, plant-based meat is expensive and lack of taste and texture. However, providers are continuously improving taste and texture of plant-based meat products for its wider acceptance. Further, in Europe, plant-based meat products can be easily available at supermarkets, restaurants and online platforms, which is expected to fuel the growth in market. Recent developments include: In September 2023, MorningStar Farms, a division of the Kellogg Company, which produces vegan and vegetarian food products for the market, announced addition of steakhouse style premium plant-based burger that designed to mimic taste and juicy texture of beef burgers. These are available in frozen and ready to use forms. , In August 2023, Beyond Meat commenced with an expansion initiative for its burger portfolio, by launch of its latest product innovation, the Beyond Stack Burger™. The patty in this burger is designed to reach beef like taste and texture, which can be used for stacked burgers. This was newest addition to market leader’s portfolio of products, which have gained lot of popularity in recent past. .

Plant-based meat refers to food products designed to imitate the taste, texture, and appearance of animal-derived meat but are made entirely from plant ingredients. These products typically use proteins from soy, peas, rice, wheat, or other legumes to replicate the structure of traditional meat. The goal is to create a sustainable and ethical alternative to meat, appealing to consumers who seek to reduce or eliminate animal products from their diet due to concerns over health, animal welfare, or environmental sustainability. Health consciousness among consumers is a significant driver, as plant-based meats are often perceived as healthier alternatives to traditional meats. They typically contain less cholesterol, saturated fat, and fewer calories, appealing to individuals with heart disease concerns or those pursuing weight loss goals. Environmental sustainability plays a major role in this shift, as the meat industry is known to contribute heavily to greenhouse gas emissions, deforestation, and water consumption. Plant-based meats offer a lower environmental footprint, appealing to eco-conscious consumers. Additionally, animal welfare concerns are prompting people to choose plant-based products as they offer a way to avoid supporting industrial animal farming practices. Lastly, innovative food technology has advanced plant-based products to closely resemble meat, improving taste, texture, and cooking experience, making them more appealing to a broader audience. Recent developments include: October 2022: Beyond Meat, Inc., a pioneer in plant-based meat, introduced Beyond SteakTM. This innovative product combines the juicy, supple, and mouthwatering bite of seared steak tips with the added health and environmental benefits of plant-based meat., March 2022: Valio Oy bought Gold & Green Foods Oy. The purchase includes all intellectual property rights, R&D, and brand rights for Gold & Green. Through the deal, Valio will solidify its strong position in the Finnish market for plant-based foods and grow internationally., January 2022: In order to address the demand for meatless meals and meat alternatives in India, ITC announced the development of plant-based meat products. ITC will introduce vegan burgers and patties that mimic chicken flavour. ITC would have access to the largest market for plant-based substitutes in India through this launch., August 2020: The Ohio-based manufacturing facility of Morningstar Farm received a 45 million dollar investment from The Kellogg Company. Upgraded equipment for USD 25 million and capacity expansion worth USD 18 million are also included in the investment. The company's line of plant-based products will receive special attention in this expansion.. Key drivers for this market are: increasing demand for convenience foods, as busy lifestyles push consumers to seek ready-to-eat or easy-to-prepare food items. Potential restraints include: rising concern over food quality and safety. Notable trends are: The growing middle classes in developing nations to boost market growth.

In 2024, milk alternatives had the highest sales value in the plant-based food market in the United States. In the 52 weeks ending December first that year, sales of milk alternatives were valued at approximately *** billion U.S. dollars. Meat alternatives were valued at *** billion U.S. dollars. Tofu, tempeh, and Seitan were valued at approximately *** million U.S. dollars. The year-on-year growth rate for plant-based foods in the U.S. can be found here.
Plant-based meat and milk market in the U.S. Almond milk is the top-selling category of milk substitutes in the United States. Sales of soy and coconut milk were low in comparison. The most well-known plant-based milk brands among consumers in the U.S. are **** and ***************************** In the meat substitutes market, the most purchased plant-based meats in the U.S. in 2022 were beef-style alternative burgers and traditional veggie burgers. *********** and ************* are the most popular meat-substitute brands. Decline of the plant-based meat market in the U.S. The plant-based meat market has entered a downward trend. Compared to 2023, the market in 2024 shrank by ** percent measured in unit sales. Taking the prior year's decline into account, the market shrank by over a quarter.

The India Plant Based Meat Alternatives Market Report is Segmented by Product Type (Tempeh, Textured Vegetable Protein, Tofu, and Other Meat Substitutes) and Distribution Channel (Off-Trade and On-Trade). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

Plant-Based Meat Market size was valued at USD 52.24 Billion in 2023 and is projected to reach USD 14.26 Billion by 2031, growing at a CAGR of 13.34% from 2024 to 2031.

Plant Based Meat Market: Definition/ Overview

Plant-based meat refers to food products manufactured from plant-derived ingredients that have the same taste, texture, and appearance as traditional meat, appealing to consumers looking for healthier and more sustainable options. These products utilize proteins from sources such as soy, peas, and wheat, along with various flavorings and binders, to create meat-like textures that appeal to both vegetarians and flexitarians. Its culinary applications include burgers, sausages, and deli meats, with future focus on advances in flavor, nutrition, and accessibility to grab a larger share of the global protein market.

During a survey in April 2023, just over a third of respondents stated that they consumed meat substitutes but would not consider their consumption to be regular. Over a quarter stated that they have never consumed plant-based meat substitutes and do not want to.

In 2022, Germany was Europe's leading plant-based meat substitutes market, with sales of over *** million euros. The market size of the United Kingdom was roughly *** million euros. By comparison, sales of meat substitutes in Romania reached around *** million euros. Meat substitute market in EuropeMeat substitutes are vegetarian alternatives that typically approximate certain aesthetic qualities (such as texture, flavor, appearance) or chemical characteristics of specific types of meat. Many substitutes are soy-based (e.g., tofu, tempeh) or grain-based, but may also be made from peas or other plant-based sources. The German market has been growing fast. The sales of plant-based meat products in Germany increased by nearly ** percent in 2020, while those in the UK increased by approximately ** percent. Even after the pandemic, growth in Germany is expected to be in the double digits until 2027. Vegetarianism in EuropeThe largest share of non-meat eaters in Europe can be found in the United Kingdom (UK) and Ireland, with approximately ** percent of the population, respectively. Eastern European countries have the lowest share, with shares ranging between **** and ***** percent. In 2021, the main reason for vegetarianism among women in Germany was "animal well-being", while men favored "sustainability." In Belgium, nearly ** percent of respondents stated that they consume meat substitutes about once a week or more often.