Plant-based Meat market Size, Share, Growth Factors, Competitive Landscape, with Regional Forecast to 2035

Meat is an important source of macronutrients and micronutrients, such as proteins, fats, carbohydrates, and vitamins that provide the ability to build and repair tissues as well as fulfill energy requirements.

Given its several pre-requisites, the demand for meat is significantly increasing, which has led to a three-fold increase in industrial meat production. However, the approach of conventional meat production poses significant challenges, contributing to adverse environmental consequences such as water scarcity, increased greenhouse gas emissions and overutilization of land resources, thereby impeding sustainable resource management. It is worth highlighting that currently, almost 60% of greenhouse gas emissions from food production are attributed to animal meat production. Therefore, in order to mitigate these challenges, an increased interest towards alternative meat production has been observed.

Consequently, plant-based meat has emerged as a potent protein alternative solution catering to the escalated demand for protein amid the increasing population. Plant-based meat capitalizes on several benefits associated with its production and consumption (over traditional meat), including reduced environmental impact, owing to its minimal land and water requirements. Moreover, there exists a discernible shift in consumer preferences towards alternative protein sources, driving the increasing acceptance and adoption of plant-based meat products. Considering this shift, along with the surging demand for alternative proteins and positive environmental impact of plant-based meat production, the Plant-based Meat market is poised to witness substantial market growth during the forecast period.

Benefits of plant-based meat

The concept of plant-based meat has gained popularity in the last few years owing to its benefits in areas related to health, environment and animal welfare. Some of the benefits of plant-based meat are enlisted below:

§  Prevent Chronic Illnesses: Meat analogues contain high fiber and low levels of saturated fats which decreases the cholesterol level in humans and reduces the risk of heart diseases, cancer and diabetes.

§  Reduces Blood Sugar Level: Plant-based meat is abundant in fiber which slows down the absorption of sugar in the bloodstream and reduces blood sugar levels in the body.

§  Weight Loss: Plant-based meat is rich in protein and fiber that assist in weight loss.

§  Animal Welfare: Production of plant-based meat significantly reduces animal slaughtering as it is produced from plant proteins rather than causing harm to animals such as cattle, lambs, pigs and chicken.

§  Optimize Potassium Level: Plant-based meat contains potassium chloride that increases the potassium level in the human body which improves muscle contraction and neuronal function. It also maintains a healthy heart rate.

§  Reduced Environmental Pollution: Plant-based meat products are more carbon efficient as compared to animal meat. In a recent study, it is found that plant-based patties have 77% less negative impact on climate as compared to beef patties.

§  Less Land and Water Usage: Plant-based meat production uses 47-99% less land and 72-99% less water as compared to animal meat.

The protein-alternative market is likely to witness a paradigm shift in the near future, with the emergence of plant-based meat. It has helped in reducing environmental pollution, increased awareness related to ethical and social aspects and animal welfare. ,  It is worth noting that with the increasing investment in the industry, more startups have arisen with an aim of developing innovative technologies in order to support the scale up of plant-based meat production process. This is accompanied by the efforts to lower the cost of production, such that it becomes affordable for the consumers. The plant-based meat is still a nascent-concept in protein market, thus, several researches and experiments are currently ongoing to enhance the texture, flavors and shelf life of plant based meat with the help of advanced technologies.  These innovative technologies, such as genetic engineering technologies that include clustered regularly interspaced short palindromic repeats (CRISPR) and transcription activator-like effector nucleases (TALEN) can be used to create new crops with high protein content and improved nutrient profiles by altering their genes with desired traits. Then, these improved crops can be used in plant-based meat production.

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