Plant-Based Chicken Market

Plant-Based Chicken Market Size, Share, Growth (2022-2027)

The plant-Based Chicken Market was at USD xx. xx million in 2022 and is anticipated to reach over USD xx. xx million by 2027.

Overview:

The market is also estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the outlook period 2022 - 2027Plant-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.

REPORT COVERAGE:

Recent Developments

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

Market Drivers and Restraints:

The main factor driving the global plant-based chicken market is the high consumption of protein in the world. 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

Market Segmentation:

The global plant-based chicken market can be segmented

based on

• product

• source

• distribution channel

By product,

• hamburger patties

• sausages

• nuggets

• hot dogs

• cutlets

• cold cuts

• shredded

The hamburger segment has the largest market share 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.

By source

• chia protein

• soy protein

• canola protein

• pea protein

• bean protein

• lentil protein

• seed protein linen, etc

Soy-based protein is the most important growth segment of the global plant-based chicken market due to the multiple health benefits of soy.

By distribution channel

• HoReCa

• online retail

• specialty food stores

• convenience stores

• supermarkets

• retail stores

Impact of COVID-19 on the Plant-Based Chicken Market

The food and beverage sector 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 is also driving the call for vegan alternatives. This growing demand for clean labels and natural foods is catapulting the market for plant-based chicken. Demand is particularly strong in the United States, Brazil, and India, as they have the highest number of COVID-19 infections. As a result, people are changing their food preferences, prompting manufacturers to increase their presence.

Regional Analysis:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Europe and MEA should collectively be the largest market. Demand is particularly strong in Germany, the UK and Italy. Publicizing the benefits of vegan foods is a growth engine. 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 market growth market. 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.

Plant-Based Chicken Market Keyplayers:

1. Gardein

2. Atlantic Natural Foods LLC

3. Beyond Meat, Inc.

4. Impossible Foods, Inc.

5. CHS INC

6. Puris Proteins, LLC

7. Tyson Foods, Inc