DUBLIN, September 21, 2021--(BUSINESS WIRE)--The "United States Plant Based Meat Market, Growth & Forecast, Industry Trends, Opportunity By Types, and Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This report studies the United States Plant-based Meat Market. The report also comprises qualitative factors such as drivers, restraints, and opportunities.
The US Plant-based Meat Market was valued at US$ 1.06 Billion in 2020, and is estimated to reach US$ 2.63 billion by 2027, growing at a CAGR of 13.86%
Plant-based meat is an imperative component of the United States diet, in which people adopt a plant-based eating lifestyle devoid of animal-based foods. Plant-based meat gives an alternative combining ingredients in novel ways. It delivers the entire culinary experience of meat without the need for killing any single animal. Across the United States, apprehension regarding unhealthy diet is surging and the increasing awareness about animal rights is driving the plant-based meat industry.
Increasing plant-based consumption is a trend among all young and diverse consumer groups in the U.S. These age groups are more likely to express intent to eat more plant-based foods. Plant-based meat controls blood cholesterol, heart diseases, and diabetes. According to CDC (Centers for Disease Control and Prevention), in the year 2020, 34.1 Million adults (20-79) had diabetes in the US.
Products of the US Plant-based Meat Industry
By Product segment, the market bifurcated in sausages, burgers, Patties, Nuggets, Tenders & Cutlets, Grounds, and others. Over the past decade, the plant based meat Burger has performed relatively well. This trend has benefited burger foodservice and retail industries because the ingredients strive to imitate the flavor, aroma, and texture of meat.
By product type, Tofu has been considered one of the best plant-based meat dishes. Since Tofu is made from soybeans and high in calcium and protein, consumers can experience the taste of meat.
Frozen Food Drives the Market
The storage technique segment in the U.S. plant-based meat market is divided into refrigerated, frozen and shelf-stable. The frozen products market share has gained remarkable popularity owing to their longer shelf life. These products usually can last for five to eight months in the freezer.
The growing demand for flavorsome heat-and-eat products encourages the vendors to launch frozen meat substitutes in the U.S. market. Moreover, various factors contributing to the growth of refrigerated plant based food are meat shortage and concerns regarding the coronavirus outbreak in the meat processing facilities.
Key Trends of Plant-based Meat in US Cities
In Western America, there is increasing acceptance of vegetarian eating habits in fitness aware clients. Growing concerns about Greenhouse Gas (GHG), provided by the meat business and animal well-being procedures, are expected to boost the demand for plant-based meat foodstuffs.
Los Angeles, Houston, and Phoenix meet demand with the highest numbers of specialty restaurants and takeaways in the country. The plant-based meat is used mainly in the Hotel, Restaurant, Cafe (HORECA) subdivision. Dallas is an affordable place to buy groceries for a plant-based meal - soy, pea, wheat, others.
The market studied is moderately consolidated, owing to a few prominent market players, such as Beyond Meat, Maple Leaf Foods, Gardein Protein International (Pinnacle Foods), Morningstar Farms (Kellogg Company), Tyson Foods Inc. For instance, in 2021, Tyson launches plant-based sausages and burgers.
Products - United States Plant-based Meat Market have been covered from 6 viewpoints:
4. Nuggets Tenders & Cutlets
Products Types - United States Plant-based Meat Market have been covered from 7 viewpoints:
1. Textured Vegetable Protein
2. Tofu & Tofu Ingredients
5. Other Soy Products
Source - United States Plant-based Meat Market have been covered from 4 viewpoints:
Storage Technique - United States Plant-based Meat Market have been covered from 3 viewpoints:
Region - United States Plant-based Meat Market has been covered from 4 viewpoints:
2. North Central
3. North East
Company Insights (Overview, Company Initiatives, Sales Analysis):
1. Beyond Meat
2. Maple Leaf Foods
3. Gardein Protein International (Pinnacle Foods)
4. Morningstar Farms (Kellogg Company)
5. Tyson Foods Inc.
For more information about this report visit https://www.researchandmarkets.com/r/fgbbu5
View source version on businesswire.com: https://www.businesswire.com/news/home/20210921005545/en/
Laura Wood, Senior Press Manager
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