The global Plant-based Meat Market size is expected to reach USD 24.03 Billion in 2030 and register a revenue CAGR of 18.7% over the forecast period, according to the latest report by Reports and Data. Increasing awareness regarding health issues associated with over-consumption of animal meat and shifting inclination towards vegetarianism and veganism are key factors expected to drive market revenue growth over the forecast period. Plant-based meat products are products that have properties similar to animal meat products, but are comparatively healthier and environmentally friendly.
According to the National Institute of Health, an estimated 300,000 deaths occur every year due to overweight and obesity. Obesity can lead to various health issues like increased risk of heart disease and diabetes; increase the death risk, increased risk of cancer and foodborne illness. Additionally, excess consumption of meat causes an imbalance in the ecosystem as a higher number of animals are killed for human consumption. According to a report, 56 billion land animals are killed every year for meeting the demand for meat while above 9 billion animals being slaughter every year in the United States alone. For More Details, Request A Sample Report @ https://www.reportsanddata.com/sample-enquiry-form/2053 Key Players: Key participants include Impossible Foods (US), Garden Protein International (US), Beyond Meat (US)Bristol-Myers Squibb, Morningstar Farms (US), Amy’s Kitchen (US), Quorn Foods (UK), Maple Leaf Foods (Canada), Tofurky (US), The Vegetarian Butcher (The Netherlands), Sunfed (New Zealand), VBites (UK), Gold&Green Foods (US). The key market players in this industry are adopting various strategies like new product launches, expansion, partnerships, mergers, acquisitions, and technology advancements. For example, in 2019, Impossible Foods, the key creator of this industry introduced a revised version of Impossible Burger 2.0 with the improved recipe and a lot meatier. An increase in awareness of healthy eating habits coupled with the increasing number of population inclining towards vegan foods is likely to drive the growth in this industry. However, consumption of ‘heme’ an important ingredient in the production of this industry is linked with the formation of carcinogens, owing to which it is difficult to convince non-vegetarians about the taste of vegan food. Moreover, intense market competition is also expected to hinder the industrial growth during the forecast period. Further key findings from the report suggest:
Market Segmentation: Source Type (Revenue, USD Million; 2016–2026)
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About Reports and Data: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John W Head of Business Development Reports and Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail: [email protected] Blog: https://www.reportsanddata.com/blogs
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