Plant-based Meat Market Drivers, Challenges & Opportunities During the Forecast Period, 2020-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 13, 2020--
The “Plant-based Meat Market by Type and Geography - Forecast and Analysis 2020-2024” report has been added to ResearchAndMarkets.com’s offering.
Global Plant-based Meat Market: About this market
The plant-based meat market analysis considers sales from plant-based beef, plant-based chicken, plant-based pork, and other types. Our study also finds the sales of plant-based meat in APAC, Europe, MEA, North America, and South America. In 2019, the plant-based beef segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing number of product launches and innovations will play a significant role in the plant-based beef segment to maintain its market position. Also, our global plant-based meat market report looks at factors such as new product launches, growing investments by vendors in the market, and an increase in the number of people following the vegan lifestyle. However, increasing consumption of animal meat, the development of cell-based meat products, and stringent regulations may hamper the growth of the plant-based meat industry over the forecast period.
Global Plant-based Meat Market: Overview
New product launches
Consumers across the world are increasingly becoming health conscious. This coupled with growing concerns pertaining to GHG emissions in the animal meat industry, has increased the demand for plant-based meat products. This is encouraging market vendors to introduce new products to cater to the growing demand for plant-based meat food across the world. For instance, in June 2019, Beyond Meat Inc. launched its latest product, Beyond Beef, which is free from GMOs, soy, and gluten. The product is designed to provide the same versatility, meaty texture, and juiciness of traditional beef. Such successful product launches are helping vendors to increase revenue and expand their presence in the market. These factors will lead to the expansion of the global plant-based meat market at a CAGR of over 17% during the forecast period.
Growth of private label brands
The increasing prominence of private label brands is a positive trend that can influence the growth of the global plant-based meat market. Major retailers across the globe are coming with their own brands of plant-based meat products after realizing the growth potential of plant-based meat products. The private label product segment grew in terms of scope and size over the past decade. Unlike branded products, private label products are available at a low price. Thus, price-sensitive consumers are more likely to purchase private label products. This development is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY TYPE
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/l9xqm6
View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005526/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 01/13/2020 08:30 AM/DISC: 01/13/2020 08:31 AM