North America Plant-Based Chicken Market is likely at USD xx.xx million in 2021 and is projected to a range of over USD xx.xx million by the end of the assessment period. The North America Plant-Based Chicken Market is likely to know reasonable growth to the highest CAGR of xx.xx% through the estimated period (2022 - 2027).
The main ingredient used to create plant-based chicken varies by location. Due to the long history of vegetarianism in the region, a unique culinary tradition of vegetarian eating has developed, distinct from the traditional diet and including various unique recipes. Options created in Europe and North America use modern technology to create substitutes for popular meat dishes, such as chicken sandwiches, wings, and even whole roast chickens. These are made mainly from wheat or soybeans and their derivatives.
Recent Developments
Market Drivers and Restraints:
The demand for North America Plant-Based Chicken is accelerating. Growing concern for the health and welfare of animals is driving consumers to choose vegetarian alternatives. At the same time, they also demand the same flavor and tenderness associated with meat and meat products of animal origin. Recently, animal welfare has become the cornerstone of global trends in food consumption. Companies such as People for the Ethical Treatment of Animals (PETA) and World Animal Protection (WAP) have advocated for the humanization of animals on a larger scale. Animal welfare has dominated various cultural beliefs.
Various religious schools have pointed out that animals possess the same cognition, sensitivity, and emotion levels as humans. As a result, meat consumption has been strongly discouraged, and several states have implemented strict laws against the slaughter of animals. Healthy eating has led the food giants to invest in new technologies to reduce the negative environmental impacts of food production. Food companies strive to increase their revenue share by launching sophisticated end products when it comes to plant-based meat.
Players are innovating their product lines by increasing nutrient content and reducing fat. Technologies such as New Plant Breeding Techniques (NPBT) are expected to contribute greatly to this meat 2.0 revolution, leading to the expansion of the plant-based chicken market. Furthermore, the growing trend of Plant-Based products on social media and other print media is likely to drive the growth of the North America Plant-Based Chicken Market during the forecast period.
Market Segmentation:
By product:
The cutlets segment lags behind hamburgers due to its greater use in the preparation of chicken burgers in homes and restaurants.
By source:
Soy-based proteins are the most important growth segment of the global plant-based chicken market due to the multiple health benefits of soybeans.
By distribution channel:
Impact of COVID-19 on North America Plant-Based Chicken Market
The food and beverage industry is expected to take full advantage of the coronavirus crisis, with an increase in demand for plant-based foods. Growing consumer beliefs about the transmission of COVID-19 through animal products are also driving the call for vegan alternatives.
Regional Analysis:
North America is anticipated to capture above a third of the market share. The prevalence of various lifestyle-induced diseases is driving the growth of the market. Food giants like Burger King and KFC have been quick to introduce plant-based substitutes that preserve the flavor and texture of conventional meat dishes. US plant-based chicken market is estimated to reach the dominant shares of the market. Several startups like Impossible Burgers and Beyond Meat are rapidly flooding the market with their herb offerings. Canada's plant-based chicken market is likely to hit the highest CAGR.
Leading Company
Ingredion Inc. had the major share of the North America Plant-Based Chicken Market in terms of sales income in 2021.
Key Players
The North America Plant-Based Chicken Market is concentrated with well-established players. Key players in the North America Plant-Based Chicken Market include
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