The global plant-based meat market size was US$ 4.9 billion in 2021. The global plant-based meat market is forecast to grow to US$ 22.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 20.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The global plant-based meat market is likely to be driven by rising consumer interest in plant-based diets, as well as increased awareness of animal rights through various animal welfare organizations. 
Plant-based meat is increasingly becoming a part of a vegan diet, in which people live a vegetarian lifestyle free of animal products. Thus, the growing trend of vegan food will drive the demand for plant-based meat during the analysis period. 
Soy consists of all of the needed amino acids required for human growth and development. Soy's capacity to improve the final product's water absorption, solubility, emulsification, viscosity, anti-oxidation, and texture is expected to increase demand for plant-based meat products in the future years. 
The exponential expansion of chilled plant-based meat is expected to continue due to the growing population globally.

COVID-19 Impact Analysis
The food industry underwent substantial changes during the COVID-19 pandemic, including disruptions in crucial input sources, limited access to production areas, and product distribution disruptions. Despite these limitations, plant-based businesses have been able to adapt and continue to develop due to new products and other innovative strategies.
Consumers have been encouraged to order goods online as a result of the COVID-19 epidemic, which resulted in lockdowns. As a result, wholesalers shifted their focus to online retailing channels. Growth in consumer awareness regarding the health benefits of veganism has resulted in sudden increase in demand for plant-based meat in the United States. The demand for high fiber, vitamin C, and iron, rich vegan food is also growing significantly. As a result, it will offer lucrative growth opportunities for the plant-based meat market during the study period.

Regional Analysis
North America is forecast to hold the highest share in the plant-based meat market. The growth of the market is attributed to the growing consumer awareness regarding the risks associated with the consumption of contaminated meat goods, along with the increasing consumption of meatless meat products. Recognizing the potential scope of plant-based meat, fast food chains are also taking crucial steps to cater to the demands. For instance, Starbucks added a plant-based sausage-made sandwich to its breakfast menu in most of its locations in the U.S.  in 2020. Thus, such initiatives are expected to bring untapped growth opportunities for the plant-based meat market.

Competitors in the Market
• 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
• VBites Foods Limited
• Kraft Foods, Inc.
• Lightlife Foods, Inc
• Trader Joe's
• Yves Veggie Cuisine (The Hain-Celestial Canada, ULC)
• Marlow Foods Ltd. (Cauldron)
• Ojah B.V.
• Moving Mountains
• Eat JUST Inc.
• LikeMeat GmbH
• GoodDot
• OmniFoods
• No Evil Foods
• Dr. Praeger's Sensible Foods
• Other Prominent Players

Market Segmentation
The global plant-based meat market segmentation focuses on Source, Product Type, End-Users, Storage, and Region. 
Source Outlook
• Soy
• Pea
• Wheat
• Others
Product Outlook
• Burgers
• Sausages
• Patties
• Nuggets, Tenders & Cutlets
• Grounds
• Others
Type Outlook 
• Chicken
• Pork
• Beef
• Fish
• Others
End-user Outlook
• Retail
• HORECA (Hotel/Restaurant/Café)
• Storage Outlook 
• Refrigerated Plant-based Meat
• Frozen Plant-based Meat
• Shelf-stable Plant-based Meat
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America