Plant-Based Chicken Market

Global Plant-Based Chicken Market Size (2024 to 2029)

The size of the plant-based chicken market was valued at USD 2.88 billion in 2023. The global market size is further expected to grow at a CAGR of 19.48% from 2024 to 2029 and be worth USD 8.38 billion by 2029 from USD 3.44 billion in 2024.

Plant-based chicken products are made with soy, protein, lentils, wheat, peas, and many more. Each protein has its own protein composition that benefits the human body. Herbal products contain high-quality nutrients and are a healthy substitute for animal products. Plant-based chicken is cleaner and reduces greenhouse gas emissions compared to traditional animal-based chicken feed.

The growing consumption of protein worldwide is propelling the growth of the global plant-based chicken market.

The increased intake of protein encourages manufacturers to offer consumers a variety of innovative plant-based chicken products as an alternative to real chicken. Plant-based chicken is gaining popularity due to its similar flavor and appearance structure to chicken bites, nuggets, and steaks. There are many government regulations in various countries against the slaughter of animals that are helping the growth of the global market. In addition, there is a growing concern with maintaining the balance of the ecosystem, further driving the growth of the global market for plant-based chickens.

Increasing per capita income and disposable income in developing nations will stimulate the growth of the worldwide market.

Increased income leads to a better way of life and a high standard of living in developing countries has supported the market consumption of plant-based chicken. There is a gradual shift in consumer preferences from animal products to herbal products due to increasing health awareness among people. This change led the plant-based chicken market to expand its menu and create new products. Manufacturers have developed attractive and eco-friendly food packaging to attract customers and increase their consumer base, thereby driving market growth globally. The emergence of the COVID-19 pandemic has led people to establish a probable link between the coronavirus and livestock. This likely link further prompts customers to move away from animal products and switch to herbal products. In addition, the growing trend for herbal products on social media and other print media is likely to drive the growth of the global plant-based chicken market during the forecast period

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Plant-based Chicken Market Analysis By Product

The hamburger segment is anticipated to account for the largest share of the global plant-based chicken market during the forecast period due to its enormous popularity with consumers. The segment is likely to remain lucrative during the forecast period. In addition, the cutlets segment lags behind the hamburger due to its greater use in the preparation of chicken burgers in homes and restaurants.

Global Plant-based Chicken Market Analysis By Source

The soy-based protein segment is likely to account for the leading share of the global plant-based chicken market during the forecast period owing to the multiple health benefits of soy.

REGIONAL ANALYSIS

Europe and MEA together are predicted to hold the leading share of the worldwide market during the forecast period. The demand for plant-based chicken is particularly strong in Germany, the UK, and Italy due to the rising awareness among people regarding the benefits of plant-based chicken in these countries. In the past two years, plant-based meat substitutes have made strides in the Middle East, especially in the United Arab Emirates. Soy protein-based meat substitutes enjoy immense popularity. North America is expected to capture more than a third of the global market share, reaching nearly US $ 3 billion by the end of 2030. The prevalence of various lifestyle-induced diseases is driving the market growth. The United States has the highest incidence of heart disease, diabetes, cancer, and strokes, all due to excessive consumption of meat. A flexitarian population attracts many plant-based meat manufacturers to Latin America, creating a favorable business environment for years to come. The region is supposed to grow at a CAGR of 24.2%. Colombia, Brazil and Argentina will probably be the forerunners of the Latin American market. The governments of the aforementioned countries have modified their trade policies to accommodate the main suppliers. On the supply side, the plant-based food industry has helped create jobs. Amid the COVID-19 crisis, the green economy has the potential to create 15 million new jobs in this region. Therefore, the growth prospects appear optimistic.

KEY PLAYERS IN THE PLANT-BASED CHICKEN MARKET

Companies that play a key role in the global plant-based chicken market include Gardein, Atlantic Natural Foods LLC, Beyond Meat, Inc., Impossible Foods, Inc., CHS INC., Puris Proteins, LLC and Tyson Foods, Inc.

RECENT HAPPENINGS IN THE GLOBAL MARKET

• In October 2020, Impossible Foods Inc. expanded its presence by introducing its flagship product, Impossible Burger, to the Canadian market. The company has made its product available in approximately 600 Sobeys family stores and through the retailer's online grocery home delivery service.
• In September 2020, Beyond Meat launched its new product, Beyond Meatballs, which will begin to be available in grocery stores in the United States. This product will satisfy consumer demand for nutritious and easy-to-prepare products based on plant-based ingredients.
• In September 2020, Planterra Foods signed a three-year partnership with the NFL team Denver Broncos. This partnership will give your OZO brand the title of the Denver Broncos' Plant-Based Food Choice.
• In September 2020, Beyond Meat Food Co. Ltd., a subsidiary of Beyond Meat, entered into an agreement with Jiaxing (China) Economic and Technological Development Zone to design and develop manufacturing facilities.
• In July 2019, Dunkin Donuts announced that it would sell breakfast sandwiches using the Beyond Meat line of meatless sausage products throughout Manhattan, New York.

DETAILED SEGMENTATION OF THE GLOBAL PLANT-BASED CHICKEN MARKET INCLUDED IN THIS REPORT

This research report on the global plant-based chicken market has been segmented and sub-segmented based on product, source, distribution channel and region.

By Product

• Hamburger Patties
• Sausages
• Nuggets
• Hot Dogs
• Cutlets
• Cold Cuts
• Shredded

By Source

• Chia Protein
• Soy Protein
• Canola Protein
• Pea Protein
• Bean Protein
• Lentil Protein
• Seed Protein Linen
• Others

By Distribution Channel

• Horeca
• Online Retail
• Specialty Food Stores
• Convenience Stores
• Supermarkets
• Retail Stores

By Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa