Global Plant Based Meat Market (2020-2026) - Pheonix Research

NEW YORK - Aug. 4, 2020 - PRLog -- Plant-based meat protein is considered as a great alternative for an animal meat protein as it is mainly made up of soy or gluten. There is no involvement of any animal product such as dairy or meat. Thermoplastic extrusion and fiber spinning are two methods utilized for processing these plant-based meat products. For large scale production, mostly the thermoplastic extrusion method has been utilized as it is cost-effective. In comparison to the thermoplastic extrusion method, the fiber spinning method is very expensive and thus, it reduces the obtainability of plant-based meat products of the low-price range.

According to Pheonix Research, Global Plant Based Meat Market to grow at a CAGR of 15.1% during 2020-2026. As the budding plant-based meat (Meat Substitute) drivers are enhancing awareness of consumers regarding adulteration of the meat and its ill effects on health, the demand for plant-based meat products is increasing day by day. This is the reason most of the consumers are shifting towards an organic or vegetarian diet rich in protein. Thus, it is increasing the opportunity for the growth of the global plant-based meat market. Increasing awareness about plant-based meat products as a good source of protein at an affordable price also enhancing the growth of the global plant-based protein market as well. Most of the plant-based meat manufacturers have started capitalizing on research and development heavily with mergers & acquisitions for the innovation of the product. This is a major element in enhancing the plant-based meat market growth. In 2017

There are three subdivisions of plant-based meat products based on the source. These three subdivisions include soy-based, gluten-based, and mycoprotein. In 2017, it has been observed that soy-based and gluten-based products have largely contributed to market share as these products are very popular among customers. Mushroom, Tofu, Quorn, Tempeh, Seitan, and many more are different market categories of plant-based meat products based on its type. Tofu is rich in calcium and protein. Thus, it is a highly preferred alternative for meat by most people. This plant-based meat product is made up of soybean and considered as a staple food in the Asia Pacific. Based on end-use, this market is divided into two departments food industry and households.

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