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%.

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 global plant-based meat market is expected to grow to USD 5,356.6 million in 2025. Demand for plant-based meat is likely to record a valuation of USD 8,005.7 million by 2035 at a CAGR of 4.1% during the forecast period.

Metric	Value
Market Size in 2025	USD 5,356.6 Million
Projected Market Size in 2035	USD 8,005.7 Million
CAGR (2025 to 2035)	4.1%

Analyzing Key Countries Producing, Distributing, and Formulating Plant-based Meat

Country	CAGR (2025 to 2035)
United States	4.2%
United Kingdom	5.8%
India	6.3%
China	6.3%
Germany	8.1%

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.

The global plant-based meat market size was approximately USD 8.54 Billion in 2024. The market is assessed to grow at a CAGR of 19.80% between 2025 and 2034, reaching a value of USD 52.00 Billion by 2034.

Plant-based Meat Market size reached USD 5,642.4 million in 2022 and estimated to reach USD 17,994.1 million in 2030 and growing at a CAGR of 15.6%

The U.S. plant-based meat market was valued at USD 2.25 billion in 2023 and is projected to reach USD 5.25 billion by 2029, growing at a CAGR of 15.18%.

The size of the plant-based meat market was worth more than *** million U.S. dollars in India. The market has been estimated to increase about fourfold by 2030. Most of the Indian consumers prefer plant-based food due to concerns regarding animal welfare in food production.

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 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.

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

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.

BCC Research Market Analyst says global market for plant-based meat is expected to grow from $8.8 billion in 2023 to $17.1 billion by the end of 2028, at a CAGR of 14.1%.

The Japan plant-based meat market size reached USD 980.2 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 5,448 Million by 2033, exhibiting a growth rate (CAGR) of 21% during 2025-2033. The rising health consciousness among the masses, favorable government initiatives, increasing inclination among the masses to adopt vegetarian or vegan diets and rising expenditure capacities of consumers represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 980.2 Million
Market Forecast in 2033	USD 5,448 Million
Market Growth Rate (2025-2033)	21%

IMARC Group provides an analysis of the key trends in each segment of the Japan plant-based meat market report, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, source, meat type, and distribution channel.

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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 is experiencing significant growth, driven by the increasing popularity of plant-based diets and new product launches. Consumer demographics are shifting, with a growing number of individuals embracing plant-based diets for health, ethical, and environmental reasons. This trend is particularly prominent among younger generations, who are more likely to adopt plant-based eating habits. However, the market faces challenges as well. One major obstacle is the perception that plant-based meat lacks the taste, texture, and nutritional value of animal meat. Addressing this challenge requires continued innovation in product development, focusing on creating plant-based alternatives that closely mimic the sensory experience of animal meat.
Another challenge is the high production costs associated with plant-based meat production. Companies must find ways to reduce costs and improve efficiency to remain competitive in the market. Despite these challenges, the market presents significant opportunities for companies that can successfully address these obstacles and meet the growing demand for plant-based meat options.

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

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with new products and technologies shaping its dynamics. Clean meat, a category of cultured meat grown from animal cells, is gaining traction, joining traditional plant-based options such as meat analogs and textured vegetable proteins. Shelf life is a critical consideration, with advancements in protein concentration, fiber content, and nutritional fortification extending product longevity. Plant-based chicken, sausages, and bacon are increasingly popular, with consumer preferences leaning towards authentic taste and texture. Flavor enhancement through algae protein and mushroom protein is a growing trend, as is regulatory compliance and food safety. Fats and amino acid profiles are being addressed through fat alternatives and protein isolates, including microbial protein and soy protein.

Food service and retail channels are embracing these innovations, with pricing strategies and sodium content becoming key factors in consumer acceptance. Ingredient sourcing and supply chain management are crucial elements of quality control. The market's continuous unfolding is marked by ongoing product development, sensory evaluation, and food technology advancements. Nutritional labeling and health claims are essential for consumer transparency, while texturization and fat content remain areas of focus for innovation. Genetic engineering and wheat protein are emerging as potential game-changers, as the market continues to evolve and adapt to consumer demands.

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.

The market is experiencing significant innovation and growth, with companies focusing on product development to cater to various consumer preferences. Algae protein and mushroom protein are among the alternative sources of protein being explored for meat analogs, offering sustainability and nutritional benefits. Flavor enhancement is a key consideration to ensure consumer acceptance, with companies investing in research and development to create authentic meat-like taste and texture. Regulatory compliance and food safety are paramount, with companies implementing stringent quality control measures and nutritional labeling. Fats are being replaced with plant-based alternatives to reduce saturated fat content, while maintaining the desired texture and taste.

Plant-based sausages and chicken are gaining popularity, with texture modification techniques being employed to mimic the bite and chew of traditional meat products. Cultivated meat, also known a

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.

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.

In 2020, North America was the region with the largest market share in the plant-based meat market worldwide, with a share of approximately ** percent. The Middle East and Africa had a market share of approximately **** percent.

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.

The GCC plant-based meat market size reached USD 320.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 866.4 Million by 2033, exhibiting a growth rate (CAGR) of 11.7% during 2025-2033. The growing environmental awareness among the masses, the introduction of innovative product variants, the rising awareness about animal welfare and ethical concerns, and the growing trend of veganism represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 320.1 Million
Market Forecast in 2033	USD 866.4 Million
Market Growth Rate (2025-2033)	11.7%

IMARC Group provides an analysis of the key trends in each segment of the GCC plant-based meat market report, along with forecasts at the regional and country level for 2025-2033. Our report has categorized the market based on product type, source, meat type, and distribution channel.