Report ID: SQMIG30I2310
Report ID:
SQMIG30I2310 |
Region:
Global |
Published Date: August, 2024
Pages:
198
|
Tables:
62 |
Figures:
75
Plant-Based Meat Market size was valued at USD 5.48 Billion in 2023 and is poised to grow from USD 6.84 Billion in 2024 to USD 40.56 Billion by 2032, growing at a CAGR of 24.9% during the forecast period (2025-2032).
Growing vegetarianism and worries about animal cruelty have led to a tremendous surge in the global plant-based meat market substitutes. These days, a lot of shops are stocked with a wide variety of plant-based meat substitutes, including vegetarian sausage, Quorn patties, vegan shrimp, and ground beef. The demand for plant-based meat is also expected to increase in the coming years due to growing health concerns about obesity, diabetes, cardiovascular diseases, and other illnesses brought on by the high fat content of animal-based meat products. This is due to the high protein and low-calorie content of plant-based meat substitutes.
The capacity of plant-based meat products to mimic animal-based meat products is a major factor driving the expansion of the global plant-based meat market. As an example, these items imitate the appearance, texture, taste, and smell of meat products derived from animals. In comparison to ground beef, plant-based meat products are a better source of fibre, iron, and folate and contain less saturated fat, according to a study funded by the US National Institutes of Health. The main ingredients of plant-based meat substitutes are coconut oil, beetroot juice, and vegetable protein extract. The growing number of vegetarians and flexitarians is expected to cause a shift in consumer preferences towards plant-based meat substitutes, which will help the plant-based meat sector become more well-known in future years.
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Report ID: SQMIG30I2310