With rising popularity of premium, organic, and plant-based butter, the global butter market is witnessing a dynamic shift in both production and consumption.
Food & Beverages
The Rise of Plant-Based Meat: Global Market Trends, Innovations, and Future Growth.
The major driving factor is increased demand from the developing countries of the Asia-Pacific region. Additionally, widespread vegan food diets are gaining traction in these markets. Many key players are entering markets in the APAC region to meet the increased demand for plant-based meat products. Further, various small-scale manufacturers are venturing into the plant-based meat segment, seeing its future demand growth. New sources of protein and other ingredients are being explored to diversify products. Advertising and promotional activities play a vital role in influencing consumers' eating habits. Plant-based meat has become more acceptable over the last couple of years. From fast food restaurants to the local grocery store, the demand keeps going up. As a result, plant-based protein is one of the hottest raw materials in food processing. For decades, scientists have been working on ways to create plant-based proteins to replace traditional meat. The market is gaining momentum with the increasing demand for plant-based meat products. Additionally, increasing awareness among consumers about the benefits offered by a vegan diet is one of the major factors that is propelling the demand for plant-based meat products across the world. Key players have been investing significantly in R&D to cater to changing consumer preferences and reduce production costs.
According to the research report "Global Plant-Based Meat Market Outlook, 2029" published by Bonafide Research, the global Plant-Based Meat market is projected to grow with more than 14% CAGR by 2024-29. One of the main selling points of plant-based meat production is its impact on the environment. According to the Food and Agriculture Organization (FAO), about 15% of GHG is caused by livestock. As a result, plant-based food has a much lower impact on the environment. Recent studies have even shown that one plant-based meat burger patty uses 83% less water to make. Being more environmentally friendly has gained the interest of many consumers. The production of plant-based meat alternatives is complex and expensive. Many of the largest plant-based meat manufacturers are investing in ways to innovate their production processes. Heme is the new protein that makes meat taste like meat and recently has gained attention from the industry players. It’s also responsible for a bunch of chemical reactions while the meat is cooking to give it a satiating taste. One of the most popular methods is taking the DNA from the roots of soy plants, which is then fermented. At the end of this process, a plant-based heme is created and can be used to make vegan meat taste like animal meat. However, this part of soy contains a compound called isoflavones. Some findings show that this compound can promote the growth of cancer cells.
Europe is leading in the plant-based meat industry due to strong consumer demand for sustainable and ethical food options, supportive government policies, and a robust infrastructure for innovation and market growth. Europe has emerged as a leader in the plant-based meat industry primarily because of the region's significant consumer interest in sustainable and ethical food choices. European consumers are increasingly concerned about the environmental impact of meat production, including issues such as greenhouse gas emissions, deforestation, and animal welfare. This heightened awareness has driven demand for plant-based alternatives that offer a more sustainable and cruelty-free option compared to traditional meat products. As a result, European consumers are more willing to adopt plant-based diets and incorporate plant-based meats into their daily meals, creating a substantial market for these products. Europe's strong infrastructure for food innovation and research contributes to the region's leadership in the plant-based meat market. European food companies and startups are at the forefront of developing new plant-based technologies and products, leveraging advancements in food science to improve the taste, texture, and nutritional profile of plant-based meats. This culture of innovation fosters collaboration between industry, academia, and research institutions, driving continuous improvement and expansion in the plant-based meat sector.
Plant-based meat is derived from various protein-rich plant ingredients, including soy, pea, wheat, rice, and others. Soy-based plant meat dominates the market due to its high protein content, texture, and ability to mimic traditional meat. It is widely used in burgers, sausages, and nuggets. Pea protein, known for its neutral taste and hypoallergenic properties, is gaining traction, especially in North America and Europe, as companies seek alternative protein sources to meet clean-label and non-GMO trends. Wheat protein (seitan) is popular in Asia Pacific due to its fibrous texture and widespread use in traditional vegetarian diets. Rice and other emerging sources (such as mycoprotein, lentils, and chickpeas) are gaining attention, as manufacturers focus on diversifying protein sources to enhance nutritional value and sustainability, plant-based meat is available in various forms, including burgers, sausages, nuggets, meatballs, ground meat, and others. Plant-based burgers hold the largest market share, driven by the success of brands like Beyond Meat and Impossible Foods, which have created meat alternatives that closely resemble beef in taste and texture. Sausages and nuggets are also popular, particularly in the fast-food sector, where companies like McDonald’s, Burger King, and KFC have introduced plant-based options to cater to flexitarians and vegetarians.
Plant-based meat is classified into beef, chicken, pork, seafood, and others based on the type of meat it replicates. Plant-based beef alternatives dominate the market, fueled by consumer demand for sustainable and ethical replacements for traditional beef, which has a high environmental footprint. These products include burgers, ground beef, and steaks that use heme (found in Impossible Foods) or beet juice to replicate the juiciness of real beef. Chicken alternatives are growing rapidly, with nuggets, tenders, and fillets catering to quick-service restaurants and home cooking needs. Companies are focusing on perfecting the fibrous texture of plant-based chicken to appeal to meat eaters. Pork alternatives, including sausages and bacon, are particularly popular in Asia Pacific and Europe, where pork consumption is high. Plant-based seafood, though a niche market, is witnessing rising demand as sustainability concerns over overfishing drive interest in alternatives like fish fillets, shrimp, and crab cakes. Other meats, including lamb and turkey substitutes, are also being developed, primarily in Western markets. Plant-based meat market caters to two primary segments: household consumers and foodservice providers. Households represent a significant portion of the market, as more consumers adopt plant-based diets or reduce meat consumption for health, environmental, and ethical reasons. Supermarkets, online grocery stores, and specialty vegan shops stock a growing range of plant-based meat products to meet demand. The foodservice industry, including restaurants, fast-food chains, and institutional caterers, is a major driver of plant-based meat adoption.
According to the research report "Global Plant-Based Meat Market Outlook, 2029" published by Bonafide Research, the global Plant-Based Meat market is projected to grow with more than 14% CAGR by 2024-29. One of the main selling points of plant-based meat production is its impact on the environment. According to the Food and Agriculture Organization (FAO), about 15% of GHG is caused by livestock. As a result, plant-based food has a much lower impact on the environment. Recent studies have even shown that one plant-based meat burger patty uses 83% less water to make. Being more environmentally friendly has gained the interest of many consumers. The production of plant-based meat alternatives is complex and expensive. Many of the largest plant-based meat manufacturers are investing in ways to innovate their production processes. Heme is the new protein that makes meat taste like meat and recently has gained attention from the industry players. It’s also responsible for a bunch of chemical reactions while the meat is cooking to give it a satiating taste. One of the most popular methods is taking the DNA from the roots of soy plants, which is then fermented. At the end of this process, a plant-based heme is created and can be used to make vegan meat taste like animal meat. However, this part of soy contains a compound called isoflavones. Some findings show that this compound can promote the growth of cancer cells.
Europe is leading in the plant-based meat industry due to strong consumer demand for sustainable and ethical food options, supportive government policies, and a robust infrastructure for innovation and market growth. Europe has emerged as a leader in the plant-based meat industry primarily because of the region's significant consumer interest in sustainable and ethical food choices. European consumers are increasingly concerned about the environmental impact of meat production, including issues such as greenhouse gas emissions, deforestation, and animal welfare. This heightened awareness has driven demand for plant-based alternatives that offer a more sustainable and cruelty-free option compared to traditional meat products. As a result, European consumers are more willing to adopt plant-based diets and incorporate plant-based meats into their daily meals, creating a substantial market for these products. Europe's strong infrastructure for food innovation and research contributes to the region's leadership in the plant-based meat market. European food companies and startups are at the forefront of developing new plant-based technologies and products, leveraging advancements in food science to improve the taste, texture, and nutritional profile of plant-based meats. This culture of innovation fosters collaboration between industry, academia, and research institutions, driving continuous improvement and expansion in the plant-based meat sector.
Plant-based meat is derived from various protein-rich plant ingredients, including soy, pea, wheat, rice, and others. Soy-based plant meat dominates the market due to its high protein content, texture, and ability to mimic traditional meat. It is widely used in burgers, sausages, and nuggets. Pea protein, known for its neutral taste and hypoallergenic properties, is gaining traction, especially in North America and Europe, as companies seek alternative protein sources to meet clean-label and non-GMO trends. Wheat protein (seitan) is popular in Asia Pacific due to its fibrous texture and widespread use in traditional vegetarian diets. Rice and other emerging sources (such as mycoprotein, lentils, and chickpeas) are gaining attention, as manufacturers focus on diversifying protein sources to enhance nutritional value and sustainability, plant-based meat is available in various forms, including burgers, sausages, nuggets, meatballs, ground meat, and others. Plant-based burgers hold the largest market share, driven by the success of brands like Beyond Meat and Impossible Foods, which have created meat alternatives that closely resemble beef in taste and texture. Sausages and nuggets are also popular, particularly in the fast-food sector, where companies like McDonald’s, Burger King, and KFC have introduced plant-based options to cater to flexitarians and vegetarians.
Plant-based meat is classified into beef, chicken, pork, seafood, and others based on the type of meat it replicates. Plant-based beef alternatives dominate the market, fueled by consumer demand for sustainable and ethical replacements for traditional beef, which has a high environmental footprint. These products include burgers, ground beef, and steaks that use heme (found in Impossible Foods) or beet juice to replicate the juiciness of real beef. Chicken alternatives are growing rapidly, with nuggets, tenders, and fillets catering to quick-service restaurants and home cooking needs. Companies are focusing on perfecting the fibrous texture of plant-based chicken to appeal to meat eaters. Pork alternatives, including sausages and bacon, are particularly popular in Asia Pacific and Europe, where pork consumption is high. Plant-based seafood, though a niche market, is witnessing rising demand as sustainability concerns over overfishing drive interest in alternatives like fish fillets, shrimp, and crab cakes. Other meats, including lamb and turkey substitutes, are also being developed, primarily in Western markets. Plant-based meat market caters to two primary segments: household consumers and foodservice providers. Households represent a significant portion of the market, as more consumers adopt plant-based diets or reduce meat consumption for health, environmental, and ethical reasons. Supermarkets, online grocery stores, and specialty vegan shops stock a growing range of plant-based meat products to meet demand. The foodservice industry, including restaurants, fast-food chains, and institutional caterers, is a major driver of plant-based meat adoption.
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