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Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
Global Plant Based Meat Market :
Industry, Size, Share, Growth, Trends and
Forecast, 2019–2029
About Us
2
Who we are:
Prophecy is a specialized market research, analytics, marketing
and business strategy, and service offerings company that offer
strategic and tactical support to clients for making well-informed
business decisions and to identify and achieve high value
opportunities in the target business area. Also, we help our client
to address business challenges and provide best possible Service
Offerings to overcome them and transform their business.
Prophecy’s expertize area covers types, applications, latest
trends, developments, market growth factors, and challenges
along with market forecast in various business areas such as
Healthcare, Pharmaceutical, Biotechnology, Information
Technology (IT), Hospitals, Small and Ownership Model-sized
enterprises (SMEs), Chemical, Agriculture, Food and Beverage,
Energy, and Oil and Gas. We also offer various other Adaptive
Pants such as, data mining, information management, and
revenue enhancement suggestions.
Source: Prophecy Market Insights
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
We are a team of dedicated and impassioned individuals,
who believe strongly in giving our very best to what we do
and we never return down from any challenge. At prophecy
we cater to industries, individuals, and organizations across
the globe and deliver our offerings in the shortest possible
turnaround time.
Our well defined approach ensures our clients will receive
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Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 3
Source: Prophecy Market Insights
A rich repository of syndicated
reports across 8 Industries
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Working
More than 100+ Clients
worldwide including various
Fortune 500 Companies
Pioneer in adopting best
research practices to ensure
deeper insights
Top leadership having more
than
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across varied industries
2+ years of industry
experience in delivering
valuable research Insights at
Global, Regional and Country
Level
About Us
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 4
Source: Prophecy Market Insights
Research Methodology
Collection
of
Data
Collaboration
of Data
Identification
of data
Evaluation of
Market
Dynamics
Verification
and Analysis
2.This process consists
of gathering data,
accessing proprietary
databases, and reaching
out to key industry
participants that
operate in the market
across the value chain.
It also involves studying
several patterns in
the historical data and
comparing it with the
current scenario.
4. This is the final stage,
which involves both
quantity and quality
checks. Although the
process of data
verification is an integral
part of the research
process, all data points
and statistics and figures
are re-checked to uphold
their authenticity and
validity.
3.This stage involves the
validation of data and
arrival at actual statistics,
and evolution of the
market over the years. It
entails the study and
analyzes various segments
and Applications of the
market. An impact analysis
is also performed to
observe which factors will
affect the market in the
next few years.
1. This step involves identification of several primary
and secondary data research sources, including
Prophecy internal data sources.
The primary sources consist of in-depth discussions
and interviews with policy makers, industry experts,
and data evaluators, whereas secondary sources
include a thorough study of market journals, press
releases, annual reports, and Others and non Others
agencies websites.
This phase includes a detailed evaluation of several
factors that are likely to affect the market dynamics.
It involves a comprehensive assessment of major
market pain points, drivers, and trends.
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 5
Source: Prophecy Market Insights
Research Objective
To predict the
size of the
market
To offer wide ranging market
statistics with a detailed
classification along with the
market size of each segment
To analyze key
strengths,
opportunities,
and strategies of
major
companies
To outline and forecast the
Governance, Risk Management and
Compliance (GRC) market in globally
based on segmentation and region
To study market
opportunities for
participants and
stakeholders by
identifying high
growth sectors in
the market
To provide comprehensive
information about factors that affect
market dynamics
To analyze several micro-market
indicators considering growth
factors, market prospects, and
strategic market contribution
To examine competitive scenarios
such as collaborations, mergers and
acquisitions, R&D activities, and
advanced developments
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 6
Source: Prophecy Market Insights
Research Process
PROJECT
SCOPE
PROJECT
KICKOFF
PRELIMINARY
RESEARCH
MARKET
ANALYSIS &
SEGMENTATION
REPORT
SYNTHESIS
REPORT
DELIVERY
POST-SALE
SERVICE
Research Methodology
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 7
Source: Prophecy Market Insights
Global Market Size
Market/Revenue share of each key player in each
Type segment
Market/Revenue share of each key player in the
global market
Bottom-up Approach –
Collection of market related data and information
from primary and secondary sources, and data
analysis.
Primary Sources:
 Demand Side Key Opinion Leaders
 Supply Side Key Opinion Leaders
Secondary Sources:
 Annual Reports
 Financial Reports and Presentations
 Press Releases
 Research Journals
 Paid Data Sources
Market/Revenue share split by each market segment
such as By Source Fracturing Fluids/Fracturing Fluids
sector/end user
Market/Revenue share split by each region and
country in the global market
Top-down Approach –
Market size and analysis validation through primary
and secondary research participants and key opinion
leaders.
Primary Sources:
 Demand Side Key Opinion Leaders
 Supply Side Key Opinion Leaders
Secondary Sources:
 Annual Reports
 Financial Reports and Presentations
 Press Releases
 Research Journals
 Paid Data Sources
Research Methodology
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 8
Definition and Scope – Prophecy Market Insights provide the market definition to
understand the target Type/service and provide the market scope to understand
the report coverage after thoroughly understanding of target market and market
specific requirements.
Primary Research – We formulates a detailed discussion guide to perform primary
research. In primary research collection of data is performed through telephonic
interview, E-mail questionnaire’s, and in-depth discussion with industry experts,
manufacturers, suppliers, and distributors. The primary research participant
includes but not limited to CEO’s, Managers, Directors, VP’s, Suppliers, CSO’s, and
etc.
Secondary Research – Our research analyst performs in-depth secondary research
and extensive data mining to collect market related information through various
authentic data sources such as Annual Reports, Trade Publications, Magazines,
Research Publications, Company Press Release, and some paid data sources.
In-house Data Analysis – After extensive data mining, we perform in-house market
analysis by using various data tools, statistical methods, and data analysis tools to
arrive on a conclusion and reduce the margin of error. We provide our overviews
and market forecast for the target market after thoroughly understanding and
analyzing of collected data, historic market trends, and research outputs.
Report Delivery – Prophecy Market Insights provide report in required electronic
format (preferably in PDF format), as PDF format is easy to read and present.
Source: Prophecy Market Insights
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 9
Source: Prophecy Market Insights
Scope & Coverage
2019 2020 2021-2029
Base Year Estimated Year Forecast Years
The report considers 2019 as the base year. All calculations involving quantitative data are
based on 2019. The values represented in the report are actual values for 2019, whereas,
the values are estimated for the period 2020−2029.
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 10
Source: Prophecy Market Insights
Market Segmentation
Global Plant Based Meat Market
By Source By Storage
 Refrigerated
 Energy & Utilities
 Shelf-stable
 Soy
 Pea
 Wheat
 Others
 Burgers
 Sausages
 Patties
 Nuggets, Tenders & Cutlets
 Grounds
 Others
By Product
 Household
 Horeca
End User
 Chicken
 Pork
 Beef
 Fish
 Others
By Type
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 11
Source: Prophecy Market Insights
Market Segmentation
Global Plant Based Meat Market
By Distribution Channel By Region
 North America
 Latin America
 Europe
 Asia Pacific
 Middle East and Africa
 Supermarkets &
Hypermarkets
 Convenience Stores
 Specialty Stores
 Online Stores
 Others
Currency Conversion
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 12
Currency Conversion 2013-2018
The standard currency used throughout the report is USD ($). However, in the case of other currencies, the annual average currency rate
(January 1 to December 31) is used for conversion. These conversion rates are rounded to the nearest decimal place. The chart below
represents the standard conversion rates used in the report.
Currency Conversion 2013 2014 2015 2016 2017 2018
$/€ USD/EUR 0.7532 0.7535 0.8969 0.8988 0.8605 0.8566
$/£ USD/GBP 0.6395 0.6072 0.6526 0.7309 0.7607 0.7586
$/¥ USD/JPY 98.58 105.84 120.9 107.5269 113.8867 111.0019
$/₭ USD/SEK 6.5127 6.8587 8.404 8.9328 8.4135 8.8826
$/A$ USD/AUD 1.0362 1.1094 1.3112 1.343 1.3042 1.3578
$/¥ USD/RMB (CNY) 6.1905 6.1432 6.1606 6.61 6.6294 6.6675
Executive Summary (1/9)
13
Overview
Source: Prophecy Market Insights
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
 Many other food joints are following suit and bringing plant based meat substitutes to their menus. Plant based burgers are made as
replacement of regular animal meat burger, using plant ingredients and natural sources without compromising the benefits, but
attempting to reduce the drawbacks.
 As meats is gaining traction in the consumer circles owing to a number of reasons. Often soy or gluten-based, these are as rich in
protein as meant based variants. It is part of the staple diet; particularly in those countries that are have predominantly vegetarian
communities. A food made from non-meats or sometimes without any other animal products such as dairy products which act as a
meat substitute or meat alternative but has same amount of protein content is called plant based meat product.
 Plant based meat products are currently processed through two basic methodology i.e. either by thermoplastic extrusion or fiber
spinning. Thermoplastic extrusion is most commonly used methodology to produce plant based meat products. It is considered to be
cost effective method of accommodating large scale productions.
 On the other side, fiber spinning increases the cost of production which eliminates the advantage of creating an inexpensive plant
based meat products.
 The global plant based meat market accounted for US$ 3.8 billion in 2019 and is anticipated to register a CAGR of 16.8%.
Executive Summary (3/9)
14
Table 2.1: Global Plant Based Meat Market Overview
Parameters 2019 (E) 2029 (F)
Global Plant Based Meat Market Value (US$ Bn) $3.8Bn $xxBn| CAGR: 16.8% |
By Source Segment with Largest Value (US$ Bn) Soy: XX Soy: XX
By Source Segment with Highest CAGR (%)-2019-2029 Pea based meat CAGR- XX%
By Product Segment with Largest Value (US$ Bn) Burgers: XX Burgers: XX
By Frequency with Highest CAGR (%)-2019-2029 Sausages: CAGR-XX%
By Type with Largest Value (US$ Bn) Chicken : XX Chicken : XX
By Type Segment with Highest CAGR (%)-2019-2029 CAGR- XX%
By Storage with Largest Value (US$ Bn) Frozen : XX Frozen : XX
By Storage Segment with Highest CAGR (%)-2019-2029 Refrigerated: CAGR- XX%
By End User with Largest Value (US$ Bn) HORECA : XX HORECA : XX
By End User Segment with Highest CAGR (%)-2019-2029 Household : CAGR- XX%
Source: Prophecy Market Insights
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
To be Continued …
Executive Summary (4/9)
15
Table 2.2: Global Plant Based Meat Market Overview
Parameters 2019 (E) 2029 (F)
By Distribution Channel Segment with Largest Value (US$
Bn)
xx xx
By Distribution Channel Segment with Highest CAGR (%)-
2019-2029
xx
By Region with Largest Value (US$ Bn) North America : XX North America xx
By Region with Highest CAGR (%)-2019-2029 Asia-Pacific: CAGR- XX%
Key Market Players:
Beyond Meat
Impossible Foods Inc.
Maple Leaf Foods (Field Roast & Maple Leaf)
Vegetarian Butcher
Conagra, Inc. (Gardein Protein International)
Kellogg NA Co. (MorningStar Farms)
Quorn
Amy’s Kitchen, Inc.
Tofurky
Gold&Green Foods Ltd.
Sunfed Ltd.
VBites Foods Limited
S Kraft Foods, Inc.
Lightlife Foods, Inc.
Trader Joe's
Source: Prophecy Market Insights
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
Executive Summary (5/9)
16
Description
Figure 2.1: Global Plant Based Meat Market Value Share (%), By Source –
2020 (E)
Analysis
Source: Prophecy Market Insights
48.2%
Soy Pea
Wheat Others
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
 The global plant based meat market accounted for US$ 3.8 billion
in 2019 and is anticipated to register a CAGR of 16.8%.
 Growing consumer interest in plant-based diets, coupled with the
rising awareness about animal rights, is expected to drive the
market growth.
 Soy-based meat led the market and accounted for more than
a 48.0% share of the global revenue in 2019.
 Soy is a good source of Branch Amino Acids (BCAAs) and helps
build & strengthen muscle mass.
 Soy-based meat products not only reduce the formulation
costs but also exhibit a lower carbon footprint as opposed to
conventional animal- and dairy-based food products.
Executive Summary (6/9)
29.0%
Burgers
Sausages
Patties
Nuggets, Tenders
& Cutlets
Grounds
Others
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 17
Figure 2.2: Global Portable
Analysis and Outcome
Source: Prophecy Market Insights
Figure 2.2: Global Plant Based Meat Market Value Share (%), By Product –
2020 (E)
Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019
(E
Figure 2.3: Global Plant Based Meat Market Value Share (%), By Type -
2020(E)
38.0%
Chicken Pork
Beef Fish
Others
 The plant-based burgers segment led the market and accounted for
more than a 29.0% share of the global revenue in 2019. Ingredients
in these burgers strive to imitate the aroma, flavor, and texture of
meat. Impossible Foods’ product, Impossible Burger, is made with a
genetically modified form, mimicking the natural heme-iron present
in an animal, which gives their burger a distinctive meaty flavor.
Kellogg NA Co., Quorn, Amy’s Kitchen, Inc., and Beyond Meat are
some of the companies offering distinguished plant-based burgers.
 The plant-based chicken segment led the market and
accounted for more than 34.0% of the global revenue share
in 2019. Chicken is the prime ingredient in the traditional
meat industry in various products, such as nuggets, patties,
and cutlets, as it is loaded with animal fats, cholesterol, and
protein. The plant-based chicken products constitute about
the same amount of protein while the other nutrients tend to
vary.
Executive Summary (6/9)
Household
HORECA
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 18
Figure 2.2: Global Portable
Analysis and Outcome
Source: Prophecy Market Insights
Figure 2.4: Global Plant Based Meat Market Value Share (%), By End User –
2020 (E)
Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019
(E
Figure 2.5: Global Plant Based Meat Market Value Share (%), By Distribution
Channel - 2020(E)
Supermarkets &
Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
 Hotel/Restaurant/Café (HORECA) segment led the market and accounted for more than 57.0% of the global revenue share in 2019.
Many restaurants, fast food chains, and casual dining venues are dedicating a section of their menu solely to “meat-free” options due
to the rising popularity of vegan and flexitarian diets, which, in turn, is projected to drive the segment growth.
 In terms of distribution, the global plant-based meat market was dominated by supermarkets and hypermarkets, which accounted for a
share of over 59% in 2019. Consumers will always prefer retail sales through these stores because of the presence of all types of
grocery products under one roof. In North America, Walmart, Whole Foods Market, Costco, and Kroger are the major retailers of plant-
based protein products. Retail supermarkets are increasingly incorporating vegan food and beverages, owing to the growing consumer
demand.
Executive Summary (6/9)
Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 19
Figure 2.2: Global Portable
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Analysis and Outcome
Source: Prophecy Market Insights
Figure 2.6: Global Plant Based Meat Market Value Share (%), By Distribution
Channel – 2020 (E)
Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019
(E
 Europe accounted for the largest plant-based meat market
globally, accounting for over approx.
 39% of the market revenue in 2019. One of the major
factors that are driving the demand for plant-based meat,
especially in the UK, is the rise of ethical and health-
conscious consumer segments.
 This growth is partly led by the millennial generation and the
emergence of the ‘flexitarian’ consumer. Further, significant
media coverage of the impact of meat and dairy product
production on global warming and resource consumption on
greenhouse gases.
 The growth of animal welfare rights groups has gained
significant traction and has caused a significant switch in
consumer preferences.
 There are numerous reports on the potential link between
high consumption of processed or red meat and cancer,
which has led to the growth in the adoption of plant-based
diets.

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Sample Global Plant Based Meat Market.pptx

  • 1. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved Global Plant Based Meat Market : Industry, Size, Share, Growth, Trends and Forecast, 2019–2029
  • 2. About Us 2 Who we are: Prophecy is a specialized market research, analytics, marketing and business strategy, and service offerings company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible Service Offerings to overcome them and transform their business. Prophecy’s expertize area covers types, applications, latest trends, developments, market growth factors, and challenges along with market forecast in various business areas such as Healthcare, Pharmaceutical, Biotechnology, Information Technology (IT), Hospitals, Small and Ownership Model-sized enterprises (SMEs), Chemical, Agriculture, Food and Beverage, Energy, and Oil and Gas. We also offer various other Adaptive Pants such as, data mining, information management, and revenue enhancement suggestions. Source: Prophecy Market Insights Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved We are a team of dedicated and impassioned individuals, who believe strongly in giving our very best to what we do and we never return down from any challenge. At prophecy we cater to industries, individuals, and organizations across the globe and deliver our offerings in the shortest possible turnaround time. Our well defined approach ensures our clients will receive unique competitive advantage, and secure and long lasting results. “WE BELIEVE IN LONG–TERM BUSINESS RELATIONS FOR GROWTH AND SUCCESS”
  • 3. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 3 Source: Prophecy Market Insights A rich repository of syndicated reports across 8 Industries Dedicated Analyst Working More than 100+ Clients worldwide including various Fortune 500 Companies Pioneer in adopting best research practices to ensure deeper insights Top leadership having more than 50 man years of experience across varied industries 2+ years of industry experience in delivering valuable research Insights at Global, Regional and Country Level About Us
  • 4. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 4 Source: Prophecy Market Insights Research Methodology Collection of Data Collaboration of Data Identification of data Evaluation of Market Dynamics Verification and Analysis 2.This process consists of gathering data, accessing proprietary databases, and reaching out to key industry participants that operate in the market across the value chain. It also involves studying several patterns in the historical data and comparing it with the current scenario. 4. This is the final stage, which involves both quantity and quality checks. Although the process of data verification is an integral part of the research process, all data points and statistics and figures are re-checked to uphold their authenticity and validity. 3.This stage involves the validation of data and arrival at actual statistics, and evolution of the market over the years. It entails the study and analyzes various segments and Applications of the market. An impact analysis is also performed to observe which factors will affect the market in the next few years. 1. This step involves identification of several primary and secondary data research sources, including Prophecy internal data sources. The primary sources consist of in-depth discussions and interviews with policy makers, industry experts, and data evaluators, whereas secondary sources include a thorough study of market journals, press releases, annual reports, and Others and non Others agencies websites. This phase includes a detailed evaluation of several factors that are likely to affect the market dynamics. It involves a comprehensive assessment of major market pain points, drivers, and trends.
  • 5. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 5 Source: Prophecy Market Insights Research Objective To predict the size of the market To offer wide ranging market statistics with a detailed classification along with the market size of each segment To analyze key strengths, opportunities, and strategies of major companies To outline and forecast the Governance, Risk Management and Compliance (GRC) market in globally based on segmentation and region To study market opportunities for participants and stakeholders by identifying high growth sectors in the market To provide comprehensive information about factors that affect market dynamics To analyze several micro-market indicators considering growth factors, market prospects, and strategic market contribution To examine competitive scenarios such as collaborations, mergers and acquisitions, R&D activities, and advanced developments
  • 6. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 6 Source: Prophecy Market Insights Research Process PROJECT SCOPE PROJECT KICKOFF PRELIMINARY RESEARCH MARKET ANALYSIS & SEGMENTATION REPORT SYNTHESIS REPORT DELIVERY POST-SALE SERVICE
  • 7. Research Methodology Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 7 Source: Prophecy Market Insights Global Market Size Market/Revenue share of each key player in each Type segment Market/Revenue share of each key player in the global market Bottom-up Approach – Collection of market related data and information from primary and secondary sources, and data analysis. Primary Sources:  Demand Side Key Opinion Leaders  Supply Side Key Opinion Leaders Secondary Sources:  Annual Reports  Financial Reports and Presentations  Press Releases  Research Journals  Paid Data Sources Market/Revenue share split by each market segment such as By Source Fracturing Fluids/Fracturing Fluids sector/end user Market/Revenue share split by each region and country in the global market Top-down Approach – Market size and analysis validation through primary and secondary research participants and key opinion leaders. Primary Sources:  Demand Side Key Opinion Leaders  Supply Side Key Opinion Leaders Secondary Sources:  Annual Reports  Financial Reports and Presentations  Press Releases  Research Journals  Paid Data Sources
  • 8. Research Methodology Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 8 Definition and Scope – Prophecy Market Insights provide the market definition to understand the target Type/service and provide the market scope to understand the report coverage after thoroughly understanding of target market and market specific requirements. Primary Research – We formulates a detailed discussion guide to perform primary research. In primary research collection of data is performed through telephonic interview, E-mail questionnaire’s, and in-depth discussion with industry experts, manufacturers, suppliers, and distributors. The primary research participant includes but not limited to CEO’s, Managers, Directors, VP’s, Suppliers, CSO’s, and etc. Secondary Research – Our research analyst performs in-depth secondary research and extensive data mining to collect market related information through various authentic data sources such as Annual Reports, Trade Publications, Magazines, Research Publications, Company Press Release, and some paid data sources. In-house Data Analysis – After extensive data mining, we perform in-house market analysis by using various data tools, statistical methods, and data analysis tools to arrive on a conclusion and reduce the margin of error. We provide our overviews and market forecast for the target market after thoroughly understanding and analyzing of collected data, historic market trends, and research outputs. Report Delivery – Prophecy Market Insights provide report in required electronic format (preferably in PDF format), as PDF format is easy to read and present. Source: Prophecy Market Insights
  • 9. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 9 Source: Prophecy Market Insights Scope & Coverage 2019 2020 2021-2029 Base Year Estimated Year Forecast Years The report considers 2019 as the base year. All calculations involving quantitative data are based on 2019. The values represented in the report are actual values for 2019, whereas, the values are estimated for the period 2020−2029.
  • 10. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 10 Source: Prophecy Market Insights Market Segmentation Global Plant Based Meat Market By Source By Storage  Refrigerated  Energy & Utilities  Shelf-stable  Soy  Pea  Wheat  Others  Burgers  Sausages  Patties  Nuggets, Tenders & Cutlets  Grounds  Others By Product  Household  Horeca End User  Chicken  Pork  Beef  Fish  Others By Type
  • 11. Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 11 Source: Prophecy Market Insights Market Segmentation Global Plant Based Meat Market By Distribution Channel By Region  North America  Latin America  Europe  Asia Pacific  Middle East and Africa  Supermarkets & Hypermarkets  Convenience Stores  Specialty Stores  Online Stores  Others
  • 12. Currency Conversion Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 12 Currency Conversion 2013-2018 The standard currency used throughout the report is USD ($). However, in the case of other currencies, the annual average currency rate (January 1 to December 31) is used for conversion. These conversion rates are rounded to the nearest decimal place. The chart below represents the standard conversion rates used in the report. Currency Conversion 2013 2014 2015 2016 2017 2018 $/€ USD/EUR 0.7532 0.7535 0.8969 0.8988 0.8605 0.8566 $/£ USD/GBP 0.6395 0.6072 0.6526 0.7309 0.7607 0.7586 $/¥ USD/JPY 98.58 105.84 120.9 107.5269 113.8867 111.0019 $/₭ USD/SEK 6.5127 6.8587 8.404 8.9328 8.4135 8.8826 $/A$ USD/AUD 1.0362 1.1094 1.3112 1.343 1.3042 1.3578 $/¥ USD/RMB (CNY) 6.1905 6.1432 6.1606 6.61 6.6294 6.6675
  • 13. Executive Summary (1/9) 13 Overview Source: Prophecy Market Insights Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved  Many other food joints are following suit and bringing plant based meat substitutes to their menus. Plant based burgers are made as replacement of regular animal meat burger, using plant ingredients and natural sources without compromising the benefits, but attempting to reduce the drawbacks.  As meats is gaining traction in the consumer circles owing to a number of reasons. Often soy or gluten-based, these are as rich in protein as meant based variants. It is part of the staple diet; particularly in those countries that are have predominantly vegetarian communities. A food made from non-meats or sometimes without any other animal products such as dairy products which act as a meat substitute or meat alternative but has same amount of protein content is called plant based meat product.  Plant based meat products are currently processed through two basic methodology i.e. either by thermoplastic extrusion or fiber spinning. Thermoplastic extrusion is most commonly used methodology to produce plant based meat products. It is considered to be cost effective method of accommodating large scale productions.  On the other side, fiber spinning increases the cost of production which eliminates the advantage of creating an inexpensive plant based meat products.  The global plant based meat market accounted for US$ 3.8 billion in 2019 and is anticipated to register a CAGR of 16.8%.
  • 14. Executive Summary (3/9) 14 Table 2.1: Global Plant Based Meat Market Overview Parameters 2019 (E) 2029 (F) Global Plant Based Meat Market Value (US$ Bn) $3.8Bn $xxBn| CAGR: 16.8% | By Source Segment with Largest Value (US$ Bn) Soy: XX Soy: XX By Source Segment with Highest CAGR (%)-2019-2029 Pea based meat CAGR- XX% By Product Segment with Largest Value (US$ Bn) Burgers: XX Burgers: XX By Frequency with Highest CAGR (%)-2019-2029 Sausages: CAGR-XX% By Type with Largest Value (US$ Bn) Chicken : XX Chicken : XX By Type Segment with Highest CAGR (%)-2019-2029 CAGR- XX% By Storage with Largest Value (US$ Bn) Frozen : XX Frozen : XX By Storage Segment with Highest CAGR (%)-2019-2029 Refrigerated: CAGR- XX% By End User with Largest Value (US$ Bn) HORECA : XX HORECA : XX By End User Segment with Highest CAGR (%)-2019-2029 Household : CAGR- XX% Source: Prophecy Market Insights Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved To be Continued …
  • 15. Executive Summary (4/9) 15 Table 2.2: Global Plant Based Meat Market Overview Parameters 2019 (E) 2029 (F) By Distribution Channel Segment with Largest Value (US$ Bn) xx xx By Distribution Channel Segment with Highest CAGR (%)- 2019-2029 xx By Region with Largest Value (US$ Bn) North America : XX North America xx By Region with Highest CAGR (%)-2019-2029 Asia-Pacific: CAGR- XX% Key Market Players: Beyond Meat Impossible Foods Inc. Maple Leaf Foods (Field Roast & Maple Leaf) Vegetarian Butcher Conagra, Inc. (Gardein Protein International) Kellogg NA Co. (MorningStar Farms) Quorn Amy’s Kitchen, Inc. Tofurky Gold&Green Foods Ltd. Sunfed Ltd. VBites Foods Limited S Kraft Foods, Inc. Lightlife Foods, Inc. Trader Joe's Source: Prophecy Market Insights Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved
  • 16. Executive Summary (5/9) 16 Description Figure 2.1: Global Plant Based Meat Market Value Share (%), By Source – 2020 (E) Analysis Source: Prophecy Market Insights 48.2% Soy Pea Wheat Others Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved  The global plant based meat market accounted for US$ 3.8 billion in 2019 and is anticipated to register a CAGR of 16.8%.  Growing consumer interest in plant-based diets, coupled with the rising awareness about animal rights, is expected to drive the market growth.  Soy-based meat led the market and accounted for more than a 48.0% share of the global revenue in 2019.  Soy is a good source of Branch Amino Acids (BCAAs) and helps build & strengthen muscle mass.  Soy-based meat products not only reduce the formulation costs but also exhibit a lower carbon footprint as opposed to conventional animal- and dairy-based food products.
  • 17. Executive Summary (6/9) 29.0% Burgers Sausages Patties Nuggets, Tenders & Cutlets Grounds Others Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 17 Figure 2.2: Global Portable Analysis and Outcome Source: Prophecy Market Insights Figure 2.2: Global Plant Based Meat Market Value Share (%), By Product – 2020 (E) Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019 (E Figure 2.3: Global Plant Based Meat Market Value Share (%), By Type - 2020(E) 38.0% Chicken Pork Beef Fish Others  The plant-based burgers segment led the market and accounted for more than a 29.0% share of the global revenue in 2019. Ingredients in these burgers strive to imitate the aroma, flavor, and texture of meat. Impossible Foods’ product, Impossible Burger, is made with a genetically modified form, mimicking the natural heme-iron present in an animal, which gives their burger a distinctive meaty flavor. Kellogg NA Co., Quorn, Amy’s Kitchen, Inc., and Beyond Meat are some of the companies offering distinguished plant-based burgers.  The plant-based chicken segment led the market and accounted for more than 34.0% of the global revenue share in 2019. Chicken is the prime ingredient in the traditional meat industry in various products, such as nuggets, patties, and cutlets, as it is loaded with animal fats, cholesterol, and protein. The plant-based chicken products constitute about the same amount of protein while the other nutrients tend to vary.
  • 18. Executive Summary (6/9) Household HORECA Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 18 Figure 2.2: Global Portable Analysis and Outcome Source: Prophecy Market Insights Figure 2.4: Global Plant Based Meat Market Value Share (%), By End User – 2020 (E) Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019 (E Figure 2.5: Global Plant Based Meat Market Value Share (%), By Distribution Channel - 2020(E) Supermarkets & Hypermarkets Convenience Stores Specialty Stores Online Stores Others  Hotel/Restaurant/Café (HORECA) segment led the market and accounted for more than 57.0% of the global revenue share in 2019. Many restaurants, fast food chains, and casual dining venues are dedicating a section of their menu solely to “meat-free” options due to the rising popularity of vegan and flexitarian diets, which, in turn, is projected to drive the segment growth.  In terms of distribution, the global plant-based meat market was dominated by supermarkets and hypermarkets, which accounted for a share of over 59% in 2019. Consumers will always prefer retail sales through these stores because of the presence of all types of grocery products under one roof. In North America, Walmart, Whole Foods Market, Costco, and Kroger are the major retailers of plant- based protein products. Retail supermarkets are increasingly incorporating vegan food and beverages, owing to the growing consumer demand.
  • 19. Executive Summary (6/9) Copyright © PROPHECY MARKET INSIGHTS 2019, All Rights Reserved 19 Figure 2.2: Global Portable North America Europe Asia Pacific Latin America Middle East & Africa Analysis and Outcome Source: Prophecy Market Insights Figure 2.6: Global Plant Based Meat Market Value Share (%), By Distribution Channel – 2020 (E) Figure 2.4: Global Plant Based Meat Market Value Share (%), By Region – 2019 (E  Europe accounted for the largest plant-based meat market globally, accounting for over approx.  39% of the market revenue in 2019. One of the major factors that are driving the demand for plant-based meat, especially in the UK, is the rise of ethical and health- conscious consumer segments.  This growth is partly led by the millennial generation and the emergence of the ‘flexitarian’ consumer. Further, significant media coverage of the impact of meat and dairy product production on global warming and resource consumption on greenhouse gases.  The growth of animal welfare rights groups has gained significant traction and has caused a significant switch in consumer preferences.  There are numerous reports on the potential link between high consumption of processed or red meat and cancer, which has led to the growth in the adoption of plant-based diets.