Plant-Based Meat Market Size, Share, Growth Analysis, By Source(Soy, Wheat, Blendss, Pea), By Type(Beef, Chicken, Pork, Fish), By Distribution Channel(Food Retail, Food Services, E-Commerce, by Storage), By Region - Industry Forecast 2024-2031

Drivers 

Increase in Government Programs and a Substantial Investment: 

• Governments everywhere are encouraging the use of plant-based meat alternatives because of the health advantages these products provide and the environmental issues with animal-based meat. Government organizations are also making significant investments in the production of products and research related to plant-based meat. 

Customers are Paying More Attention to Meat Substitutes: 

• With customers becoming more health conscious, plant-based and plant-infused meat products are replacing a variety of food items, including sausages and patties. This trend is predicted to increase demand for plant-based meat products. Therefore, during the forecast period, producers of plant-based meat will have a lot of opportunities due to the growing number of vegan and flexitarian consumers. 

Restraints 

Exorbitant Costs Compared to Conventional Beef: 

• The global plant-based meat market is heavily constrained by considerations such as price. In price-sensitive regions like India, China, and South Africa, the expansion of plant-based meat is expected to be impacted because it is not as profitable as animal-based meat. While the high cost of plant-based meat substitutes over conventional meat is impeding the quickly expanding plant-based industry, companies that provide these alternatives are attempting to lower their pricing. 

Views on the Flavour of Plant-Based Meat Substitutes: 

• When choosing to substitute meat, consumers believe that there has been a considerable loss of flavour. Take soy protein, for example, which is not recommended for intake due to its strange flavour. Alcohol, furans, ketones, and aldehydes are among the substances that give off the bad flavour. Medium-chain aldehydes are mostly responsible for the beany and grassy flavour of soy products.