The Plant-based meat products perform as substitutes for natural meats made utilizing the plant and non-animal products such as extracted plant-protein, whey-protein, coconut oil, potato protein, wheat gluten, tofu, and several others. In comparison to meat products they are more maintainable and environmentally friendly, also, resemble meat products in terms of texture, attendance, and taste. Plant-based meat products are frequently used in the form of nuggets, burger patty, sausages, or even crumbles, similar in terms of calories to red meat but comprise less cholesterol and more fiber. Several types of plant-based meat products comprise plant-based beef, plant-based fish, plant-based chicken, and several others as a replica of meat.
According to the report analysis, ‘Global Plant-based meat Market: Market Segmentation: By Product Type (Plant-based Chicken, Plant-based Beef, Plant-based Fish and Plant-based Bacon); By Application (Patty, Nuggets, Sausages, Crumbles and Others); By Source (Pea, Soy and Wheat); By End Users (Food and Beverage and Household) and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030’ states that the Global Plant-based meat market is projected to observe growth in the future owing to a shift in consumption patterns of the general public which is propelled not only by vegans but also, flexitarians. Flexitarians are frequently referred to as that customer that consumes meat in moderation but their diet majorly consists of vegetarian food choices. Plant-based meat products are in great demand owing to rising consumer awareness on health issues as well as animal rights which is a foremost factor quickening the growth of the global plant-based meat market.
Whereas, Plant-based meat is healthier as it decreases the perils of high blood cholesterol, cardiovascular syndromes, increases protein consumption and kidney function, and manages calories that have greater chances to incur with the consumption of red meat. Thus, eradicating the risks of diabetes, obesity, etc. Plant-based meat products safeguard the bacterial infection borne from sea-food consumption, also, health risks linked with the feeding of red meat. In addition, Plant-based meat is ecologically sustainable and increasing consumer awareness concerning environmental issues such as acid rain, land and water degradation, deforestation, coral reef determination connected to the killing of animals. The significant increase in awareness on animal rights has led to a shift in requirement from non-vegetarian to vegetarian diet heartening consumers to assume plant-based meat products.
However, the spread of coronavirus has led to an increase in food safety apprehensions and consumers have majorly persuaded towards buying food products with great nutritional content. Plant-based meat is projected to observe an augment in requirement owing to the concurrent fear of increasing animal-borne diseases like COVID-19, natural products, and health concerns. Plant-based meat is the most chosen alternative over red meat by customers since plant-based meat is healthier and most doubtless taste the same. Disruptions in supply chains and panic purchasing or storage have been observed throughout this pandemic which may lead to a deficient supply of plant-based meat market. Moreover, increasing fear of the spread of infections has also led to a stoppage of several food outlets which are also a medium of supply of plant-based meat in the form of burger patties, sausages, etc. overturning the supply of plant-based meat.
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Global Plant-based Meat Market Growth Rate
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