Plant-based Meat Market

Plant-Based Meat Market Size

Plant-Based Meat Market size reached USD 6.3 billion in 2024 and is projected to reach USD 10.3 billion in 2032, the market is forecast to grow at a CAGR of 6.3% between 2025 and 2032, primarily driven by rising public health awareness benefits of Plant-Based meat and the rise in flexitarian and vegan populations globally.

Market Forecast & Key Insights

Market Size:

• • 2024 – USD 6.3 Billion
  • 2032 – USD 10.3 Billion
  • Market Forecast – CAGR of 6.3% from 2025-2032

Segment Insights

• • Source Type Insights: Soya-based plant based meat products hold the largest market share of 50% in 2024
  • Plant Based Meat Type Insights: Plant-Based burger captures the largest revenue share
  • Product Type Insights: Plant-Based chicken segment dominate the market
  • End-Users Insights: HORECA captured the largest market share in 2024
  • Regional Insight : Europe dominates the global plant based meat market globally

Plant Based Meat Market Growth Drivers

Rising Public Health Awareness

The significant rise in health concerns over diabetes, obesity, cardiovascular diseases, and several other diseases because of the high-fat content of animal-based meat products is driving the demand for Plant-Based meat demand shortly. Government entities in different countries are motivating the acceptance of Plant-Based meat substitutes because of their health advantages and the environmental issues associated with animal-based meat. In addition, governmental authorities are actively investing in research and product development activities for Plant-Based meat products, which results in an increasing global aim for sustainable and healthier food options. 

Health Benefits of Plant-Based Meat

Growing health issues and a need for healthy and tasty food selections are attributed to the global Plant-Based non-veg market growth. High increase in culinary variety and development, and rise in retail and food service incorporation, are growth aspects influencing Plant-Based meat demand. The growing prevalence and availability of these products in restaurants, grocery stores, and fast-food chains has made these substitutes more available to a widespread client base.

Rise in Flexitarian and Vegan Populations

43% of the population globally call themselves as flexitarian, around 20% of the globally population is reducing meat consumption globally paving a way for plant based meat alternatives market. The largest percentage of the flexitarian population resides in Europe, US lagged Europe however Asia Pacific region flexitarian population is witnessing promising growth. Asia pacific home to the largest Hindu population who are mostly are vegetarian is further driving the market growth in APAC. large multinational food conglomerates and smaller brands are expected to further expand their Plant-Based offerings and launch new product categories.

Plant-Based Meat Market Segment Analysis 

Source Type Market Insights: Soya-based plant based meat products hold the largest market share of 50% in 2024

Soya-based plant based meat products dominated the global Plant-Based meat market because it is used increasingly as a substitute for animal-based meat and has a wide variety of applications and soya is rich in branch chain amino acids which makes it better choice owing to provide more protein, is estimated to witness consistent growth in the forecast period. It’s proven by research that consuming soy improves customer exercise performance, aid in post-workout recovery, and encourage the development and strengthening of muscle mass. Although, many individuals suffer from soy allergies, but soy widespread acceptance as a meat substitute makes it’s a leading source based for Plant-Based meat.

Additionally, pea-based meat products are forecast to grow at the highest CAGR rate during the forecast period because it is a viable substitute for chicken with high protein content and ease of availability. Different features of pea is its resemblance in texture to meat, quick preparation, and different applications, specifically in burgers, contribute to its leading position in the market.

Type Market Insights: Plant-Based burger captures the largest revenue share

Plant-Based burgers market segment dominated market share of global revenue because demand for Plant-Based burgers is on the increase due to its taste and customer prevalence. Due to their growing prevalence, big market players widening their product portfolios by adding varieties of Plant-Based burgers. These key factors together are estimated to drive the demand for plant based burgers during the forecast period. Moreover, its similar sensory taste as of meat burgers are making it popular among non-vegetarian customers, essentially replicating the mouthfeel of meat attracts a wide client base across the alternative meat market, including people who choose meat taste but look for sustainable alternatives.

Product Type Market Insights: Plant-Based chicken segment dominate the market

The Plant-Based chicken products dominates the global revenue share. Globally, chicken meat is used across in variety of products such as cutlets, strips, burgers, and others. Plant-Based chicken meat are witnessing high demand, driven by the growing prevalence of healthier and sustainable food preference among consumers. Non-veg has high protein content due to which its demand and consumption are growing. The Plant-Based meat chicken products usually have similar content and taste to real non-veg, while other nutrients may differ, making it an excellent alternative for vegan customers.

End-Users Insights: HORECA captured the largest market share in 2024

The HORECA (Hotel, Restaurants, and Café) segment dominated the market due to growing need for customized food services and shifting customer preferences. The growing adoption of vegan and flexitarian diets has prompted different restaurants, casual dining venues, and fast-food chains to allocate a distinct section of their menu to ‘meat-free’ choices. This trend is predicted to drive the market growth

Regional Insight : Europe dominates the global plant based meat market globally

Plant-Based meat is highly popular across Europe, driven by rising health awareness, growing environmental concerns, and a desire to reduce reliance on animal meat products, in Europe there is growing trend among consumers to follow a flexitarian eating style. The positive outlook of customers toward vegan meat and vegetarian products is predicted to market share of plant based meat. The market players across the region are adopting different strategies to expand their presence and increase their percentage of market share with sales and accomplish a competitive edge in the Europe Plant-Based meat market.

North America dominated the global market due to the growing trend towards Plant-Based meat product in the U.S. and the growing emphasis on health-related issues. Growing prevalence of cardiovascular diseases and the significant rise in the popularity of vegan diets are the key factors to present positive growth of the vegan meat market in the US is driving US plant based meat market. Rapid changes in dietary habit of consumers and growing consumption of meat alternatives products have contributed to the growth of Plant-Based meat market. Also, increasing endorsements by celebrities to motivate consumers to eat vegetarian or Plant-Based meat products are providing additional impetus to North America Plant-Based meat market growth. Although, Canada has developed as a universal leader by offering substantial public assistance for Plant-Based proteins in research and development, regulatory policy initiatives, and commercialization.

The Plant-Based food market in Asia-Pacific region has grown rapidly, fueled by rising interest in vegetarian cuisine, urbanization, greater health awareness, product innovation, and the clean-label trend. As consumer awareness increases and product quality improves, the market is set for continued expansion. Enhancing taste and texture to match animal-based products remains key to wider consumer acceptance.

Plant Based Meat Companies Market Share & Competitive Landscape

Several leading companies are Beyond Meat, Impossible Foods Inc., Kellogg’s, Conagra Brands, Unilever, Maple Leaf Foods (Field Roast & Maple Leaf), Vegetarian Butcher, Conagra, Inc. (Gardein Protein International), Quorn, Amy’s Kitchen, Inc. among others.

Companies are focusing on improving product shelf life, taste, and aroma while launching new Plant-Based meat products to meet rising demand. Partnerships, acquisitions, and collaborations between food service providers and Plant-Based producers are also supporting market growth. However, startup funding for Plant-Based meat, dairy, and eggs declined sharply in 2024, leading some manufacturers to face downsizing, closures, or mergers.

Plant-Based Meat Market News

• • In 2024, Ahimsa Companies acquired UK-based Plant-Based brand Wicked Kitchen and its subsidiaries, Good Catch and Current Foods.
  • In 2024, Ahimsa acquired U.S. Plant-Based chicken nugget maker Simulate
  • In 2023, Novozymes A/S introduced Vertera ProBite, a solution designed to improve the texture and sensory appeal of Plant-Based meat, helping attract consumers hesitant to switch from traditional meat.
  • In 2023, Nestlé launched its first shelf-stable Plant-Based minced meat, expanding its vegan product portfolio to meet rising demand for healthier, sustainable meat alternatives.
  • In 2023, Wakao Foods announced the inauguration of India’s largest Plant-Based meat shipment to the US to expand its reach to the US.
  • In 2023, Live kindly acquired Alpha Foods to expand its market around Europe, the US, and South Africa. This acquisition allows them to expand their presence in the meat substitutes space.
  • In 2023, Switch Foods inaugurated Abu Dhabi’s first Plant-Based meat factory across the Khalifa Industrial Zone to make available vegan kebabs, minced meat, and other products at supermarkets.
  • In 2022, Beyond Meat partnered with Pizza Hut in Canada to address the growing customer demand for Plant-Based choices. They introduced a permanent menu item, the Beyond Italian sausages crumble by Beyond Meat, catering to the increasing interest in Plant-Based protein choices among consumers.
  • In 2022, Impossible Foods launched two new products, i.e., Chicken Nuggets and Sausage Patties made from plants in the UK. The company will expand its presence across the UK region through this expansion.
  • In 2022, Beyond Meat expanded its product portfolio by introducing Beyond Burger and Beyond Meatballs at approx. 2,000 across the globe. The company will strengthen its position by providing more Plant-Based meat options to consumers.
  • In 2021, The Vegetarian Butcher launched Plant-Based meat alternative products for food service in China. The company planned to cater to consumer’s growing demand for Plant-Based eating options.
  • In 2021, Greenleaf Foods SPC, a subsidiary of Maple Leaf Foods planned to expand its plant protein production in Indianapolis, US.

Plant-Based Meat Market Scope of the Report

Plant-Based Meat Market Research Report Segmentation

The global Plant-based meat Market has been segmented on the basis of Product, source, type, end-user, and regions. Based on the Source, global plant-based meat market has been segmented into soy, wheat, pea and others. Based on the Product, global plant-based meat market has been segmented into burger patty, sausages, Nuggets, ground meat and others. Based on the Type, global plant-based meat market has been segmented into Beef, Chicken, Pork, Fish and Others. Based on End-User, the market has been segmented into Household/Retail and HoReCa.

Global Plant-based Meat Market by Source

• • Soy
  • Wheat
  • Pea
  • Others

Global Plant-based Meat Market by Product

• • Burger patty
  • Sausage
  • Nugget
  • Ground Meat
  • Others

Global Plant-based Meat Market by Type

• • Beef
  • Chicken
  • Pork
  • Fish
  • Others

Global Plant-based Meat Market by End-Users

• • HoReCa
  • Household/Retail

Global Plant-based Meat Market by Region

• • North America Plant-based Meat Market (Option 1: As a part of the free 25% customization)

• • • By Source
    • By Product
    • By Type
    • By End-User
    • United States of America (US) Market All-Up
    • Canada Market All-Up

  • Europe Plant-based Meat Market (Option 2: As a part of the free 25% customization)

    • By Source
    • By Product
    • By Type
    • By End-User
    • United Kingdom (UK) Market
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Plant-based Meat Market (Option 3: As a part of the free 25% customization)

    • By Source
    • By Product
    • By Type
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Plant-based Meat Market (Option 4: As a part of the free 25% customization)

    • By Source
    • By Product
    • By Type
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Plant-based Meat Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Beyond Meat Inc.
  • Tyson Foods Inc.
  • The Vegetarian Butcher 
  • Pinnacle Foods Inc. (Subsidiary of Conagra Brands, Inc.)
  • MorningStar Farms (Division of Kellogg Company)
  • Impossible Foods Inc.
  • Maple Leaf Foods Inc.
  • Amy’s Kitchen
  • Quorn Foods
  • Gold & Green Foods Ltd.