Vegan Meat Market: Market Outlook
Vegan meat is a meat substitutes products which are made from the proper non-animal sources. It has filled with the taste and flavor of the meat without using any animal-based products such as milk, chicken, meat, and others. The soya, wheat, pulses, and other plant-based sources have been utilized to produce vegan meat. Vegan meat is consumed different through different food products includes a burger, snacks, sausage, and others. Vegan meat also contains a similar nutrition composition of meat products which led to the growing consumer preference of vegan meat.
The growing consumption of vegan products is positively impacting the demand for vegan meat across the world. The meat products are among the most consumed food products and vegan meat is becoming a suitable replacement for it. The plant-based source such as tofu, texturized vegetable protein, tempeh, wheat gluten, mushrooms, jackfruit, beans & legumes, and others are prominently utilized by the vegan product manufacturers to complete the vegan meat portfolio. Furthermore, vegan meat is also presumed to be health beneficial food products owing to the presence of high protein content.
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The Growing Veganism Phenomena is Stimulating the Demand of Vegan Meat
The vegan meat market is driven by the driving trend of veganism across the world. Consumption of plant-based food is increasing as the popularity of veganism is on the peak. Especially, the developed region is increasingly witnessing the extraordinary consumption rate of vegan food products. The consumer of these regions are becoming conscious regarding animal welfare and adopting the vegetarian diet. Furthermore, the growing concern about sustainability across the world is also a noticeable factor for the growth of the vegan meat market. Sustainable development demands social, economic, and environmental development without harming any living things.
The consumer is becoming more aware of the issues such as animal cruelty, environment pollution and others which led them to consume more plant-based food products. The animal slaughter is responsible for the release of harmful greenhouse gases including methane, carbon dioxide, and others. Additionally, vegan meat also holds the major nutrients which are essential for human health. The nutrients include protein, carb, fat, vitamin B-6, dietary fiber, and others. The nutritional rich vegan meat has also influenced the wide number of health-conscious consumers. However, lack of awareness regarding the vegan meat in developing countries is hampering the growth of vegan meat market.
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Global Vegan Meat Market: Segmentation
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Global Vegan Meat Market: Key Players
Some of the key players of vegan meat market are Beyond Meat, Gardein, Tofurky, Yves Veggie Cuisine, Lightlife, Boca, MorningStar Farms, Quorn, The Herbivorous Butcher, Schouten, and others.
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Opportunities for Market Participants in the Vegan Meat Market-
As the demand for plant-based food products is growing at the international level, the market participants will be getting a beneficial opportunity in the global vegan meat market during the forecast period. Since the increasing concern of animal welfare is also impacting the food and beverage industry, consumption of meat alternatives is expected to grow in the future. This is offering a better market scenario to the manufacturers in the global vegan meat market.
Global Vegan Meat Market: Regional Outlook
Europe is leading in the global vegan meat market by showing the highest value share due to the high consumption of vegan products in the region. Whereas, North America is followed by is also showing the significant value share in the global vegan meat market and the major reason is the strong impact of veganism in the region. However, South and East Asia are displaying the highest growth in the global vegan meat market due to increasing consumer spending for food products coupled with the rapid urbanization in these regions.