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A recent market study published by Future Market Insights on the plant based chicken market offers global industry analysis for 2015-2019 & opportunity assessment for 2020–2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Plant Based Chicken market, the growth prospects of the market are obtained with maximum precision.
The global plant based chicken market is poised to reach US$ 8 Bn by 2030-end, registering double-digit growth from 2020-2030, according to ESOMAR-certified Future Market Insights' (FMI) latest report on the subject.
Demand for plant-based food products is accelerating. Rising health and animal welfare concerns are prompting consumers to select vegetarian alternatives. At the same time, they also demand the same taste and tenderness associated with animal-derived meat and meat products.
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COVID-19 Impact Insights
The COVID-19 pandemic has further ignited this vegan trend, prompting food giants to introduce various plant-based chicken brands into the market. Projections for global plant based chicken market remain bullish, with a new analysis by Future Market Insights estimating 19.1% CAGR throughout the forecast period.
The food & beverages domain stands to gain the most out of the crisis, with demand for plant-based foods experiencing steep incline. Increasing apprehension among consumers about the possible spread of COVID-19 through animal-based food products is stimulating demand for vegan alternatives.
Key Takeaways from FMI's Plant Based Chicken Market Report
- Plant based chicken market to expand at 19.1% CAGR from 2020-2030
- Burger patties to experience consistent growth, generating over 40% of the global revenue
- Soy-derived proteins to capture lucrative market share, attributed to numerous health benefits
- Europe & MEA to emerge as potential revenue hotspot, Latin America generating credible prospects
- Social media to play pivotal role in augmenting plant based chicken popularity
- E-commerce emerges as the fastest growing distribution channel, owing to deepening internet penetration and the COVID-19 pandemic
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“Market players are emphasizing on innovations to introduce sustainable, health enhancing and inorganic ingredients free plant based chicken products,” concludes an FMI analysts.
Competitive Scenario
The plant based chicken market is highly competitive, interspersed with the presence of numerous regional and global players. Prominent players profiled in the report include Impossible Foods, Gardein (Conagra Brands), Atlantic Natural Foods LLC, Beyond Meat, Puris Proteins LLC, Tyson Foods Inc., and CHS Inc.
In July 2016, Impossible Foods made its debut by introducing the world's first meat analogue product titled the Impossible Burger, which is derived primarily from plant-based products. The production process involves 95% less land and 74% less water usage.
Likewise, Gardein by Conagra Brands markets products such as Chick'n and Turk'y, Beefless and Porkless, Fishless and Plant-Based Jerky. Such a wide product offering has enabled the company to capture a large customer base. It also runs the 'Meatless Monday' program.
Plant Based Chicken Market – Important Takeaways
- Europe and MEA contributes for largest revenue share and is going to present lucrative opportunities through the forecast period.
- Soy-derived proteins will dominate the market owing to various health benefits.
- Social media will continue to play a key role in shaping the market as well as opportunities.
- Type wise, burger patties will cover 40% of the global market share.
Plant Based Chicken Market- Driving Factors
- Rising number of consumers opting for plant-based meals in Europe and Asia is a major driving factor.
- Eco-friendly packaging needs to deliver plant based chicken products is a major factor as manufacturers are now presenting opportunities in packaging sector too.
- Owing to rising income, shifting food life-style and strict regulations against animal-slaughter is also driving market growth.
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Table Of Content
1. Global Plant Based Chicken Market – Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Opportunity Matrix
2. Global Plant Based Chicken Market Overview
2.1. Introduction
2.1.1. Market Taxonomy
2.1.2. Market Definition
3. Meat 2.0_How novel technologies are disrupting the meat industry
4. Meat Substitutes Go Mainstream
5. Plant Based Chicken- Recent Developments
6. Global Plant Based Chicken Market Analysis and Forecast
6.1. Global Plant Based Chicken Market Size and Absolute $ Opportunity
6.2. Global Plant Based Chicken Market Snapshot
6.3. Global Plant Based Chicken Market Scenario Forecast
6.4. Forecast Factors
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