Plant-based Meat Market Size, Share & Trends Report

Plant-based Meat Market Size, Share & Trends Analysis Report By Source (Soy, Pea, Wheat), By Product (Burgers, Sausages, Patties), By Type, By End-user, By Storage, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-145-9
  • Number of Pages: 140
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the plant-based market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for plant-based market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of plant-based market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Plant-based Market Categorization:

The plant-based market was categorized into four segments, namely source (Soy, Pea, Wheat), product (Burgers, Sausages, Patties, Nuggets, Tenders & Cutlets, Grounds), type (Chicken, Pork, Beef, Fish), end-user (Retail, HORECA), storage (Refrigerated Plant-based Meat, Frozen Plant-based Meat, Shelf-stable Plant-based Meat), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The plant-based market was segmented into source, product, type, end-user, storageand regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The plant-based market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, U.S.; Canada; Mexico; Germany; France; Italy; U.K.; The Netherlands; China; Japan; Australia & New Zealand; Brazil; Argentina; and UAE;

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Plant-based market companies & financials:

The plant-based market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Beyond Meat Inc. - Beyond Meat Inc. is a public company founded in 2009. It is headquartered in California, U.S. The company develops plant-based protein food products. It offers a range of products in ready-to-eat and ready-to-heat forms such as Beyond Beef, Beyond Breakfast Sausage Patties, Beyond Chicken, Beyond Sausage, Beyond Beef Crumbles, Beyond Italian Sausage Crumbles, and Beyond Breakfast Sausage Links. The company has developed three core plant-based product platforms that align with the largest meat categories globally such as poultry, pork, and beef. Its products are made from simple ingredients without GMO, bioengineered ingredients, and cholesterol. The products are sold in 122,000 food service and retail outlets in more than 80 countries globally. The products are further sold across mass merchandisers, grocery, convenience stores, retailer channels, clubs, and several foods away from home channels such as schools, restaurants, and food outlets. The products are available in 28,000 retail outlets in the U.S. and 34,000 retail outlets globally.

  • Impossible Foods Inc. - Impossible Foods Inc., a private company, was established in 2011 and is headquartered in California, U.S. It offers meat, chicken, and fish from plants. The company provides various kinds of plant-based meat products, such as burgers, sausage, chicken nuggets, pork, and meatballs, in various countries including Hong Kong, the U.S., Canada, Singapore, and Macau. Its products are available in Target, Wegmans, Sprouts Farmer's Market, Stop & Shop, Albertsons-Safeway, and Walmart. The company’s food manufacturing site is located in Oakland, California. It has also partnered with OSI, which offers additional manufacturing capacity for products such as Impossible Sausage and Impossible Burger. The company’s burger is sold in grocery stores and more than thousands of restaurants, such as Qdoba, Burger King, White Castle, Red Robin, Hard Rock Café, Cheesecake Factory, and others. The burger is sold in the form of empanadas, tacos, dumplings, and meatballs. As of 2020, it had 750 employees.

  • Maple Leaf Foods - Maple Leaf Foods was established in 1927 and is headquartered in Mississauga, Canada. The company was formed in 1991 as a result of a merger of Maple Leaf Mills Limited and Canada Packers Inc. It is a public company that produces and sells food products under various brands, such as Maple Leaf Prime, Maple Leaf, Schneiders, Greenfield Natural Meat Co., Lightlife, Mina, Deli Express, Big Stick, Field Roast Grain Meat Co., Lightlife, and Swift. The company’s portfolio includes ready-to-cook, prepared meats, ready-to-serve meals, plant protein products value-added fresh pork, and snack kits. It operates primarily in the U.S., Asia, and Canada. The company operates in two groups, namely Meat Protein Group and Plant Protein Group. The Plant Protein Group includes brands such as Field Roast and Lightlife. The group comprises premium grain-based proteins, refrigerated plant protein products, and vegan cheese products, which are sold to food service, retail, and industrial channels. As of 2020, the company had 13,500 employees.

  • Vegetarian Butcher - Vegetarian Butcher is a privately held company. It was established in 2010 and is headquartered in Breda, Netherlands. The company offers plant-based meat products and meat products, which are available in chilled and deep-frozen forms. Its products are available in 45 countries in more than 30,000 retail outlets. Some of the countries include Germany, the UK, Spain, Brazil, Hong Kong, Singapore, and many more. The company’s products are available in butcher shops, independent fruit-vegetable shops, supermarkets, and natural food stores. Its product portfolio includes vegan, beef style, vegetarian, and egg products. The company produces textured-vegetable protein, which is the key ingredient, and its manufacturing factory is located in Breda. In 2018, the company was acquired by Unilever. As of 2020, it had 142 employees.

  • Conagra, Inc. (Gardein Protein International) - Conagra Brands, Inc. is a public company established in 1919 and headquartered in Chicago, U.S. It is a consumer packaged goods food company that operates in various sectors of the food industry with a major focus on the sale of branded, private brands and value-added consumer food, as well ingredients and foodservice items. The company operates in four segments, namely, Refrigerated & Frozen, Grocery & Snack, Foodservice, and International. Some of the key brands of the company include Duncan Hines, Birds Eye, Marie Callender's, Healthy Choice, Slim Jim, Reddi-Wip, BOOMCHICKAPOP, Angie's, Gardein, Earth Balance, and Frontera. The company offers plant-based meat products under the brand Gardein. Its product portfolio includes chick’n and turkey, beefless and porkless, fishless, meals, soups & chills, and plant-based jerky. As of 2020, the company had 16,500 employees.

  • Kellogg’s Company. (MorningStar Farms) - Kellogg’s Company is a public company. The company was established in 1906 and is headquartered in Michigan, U.S. It manufactures cereal, crackers, cookies, and other packaged foods. The company’s key products include granola bars and bites, savory snacks, crackers, toaster pastries, and convenience foods including frozen waffles, ready-to-eat cereals, noodles, and veggie foods. Its products are manufactured in 21 countries and marketed in 180 countries. The company sells its products through various distribution channels such as retailers, brokers, and distributors for certain products. It sells its snacks under the brand names Cheez-It, Kellogg’s, Austin, Pringles, and RXBAR. Cereals and cereal bars are marketed under the brand names Bear Naked and Kashi. Frozen food is marketed under the brand names Morningstar Farms and Eggo. Morningstar Farms sells plant-based meat products and its product portfolio comprises burgers, breakfast, meal starters, Veggitizers, and Incogmeato.

  • Quorn - Quorn is a private company producing meat-free frozen foods. The company was established in 1995 and is headquartered in North Yorkshire, UK. Its frozen food products include patties, beef-style burgers, chicken-style naked cutlets, chicken-style nuggets, garlic and herb cutlets, meat-free meatballs, and vegan products. These products have the taste, appearance, and texture of meat and are naturally low in saturated fat and high in proteins and fibers. The products are available in ASDA, Booths, Farm Foods, Heron Foods, Iceland, Morisson, Tesco, Nisa, and Waitrose.

  • Amy’s Kitchen Inc. - Amy’s Kitchen Inc. is a private company. It was established in 1987 and is headquartered in California, U.S. The company offers organic foods, with over 250 wide range of organic frozen, home-style, and packaged foods. It offers its customers healthy packaged foods across the U.S., which are gluten-free, non-GMO, vegan, lactose-free, dairy-free, soy-free, tree nut-free, corn-free, and kosher. The company sells its products across 28 countries on various e-commerce websites, which include Vegan Essentials, Food Service, Thrive Market, Fresh Direct, Peapod, goodeggs, Kroger,, Walmart, and Amazon. As of 2020, the company had 2,845 employees.

  • Tofurky - Tofurky is a private company. It was established in 1980 and is headquartered in Oregon, U.S. The company is a producer of vegan foods. It produces vegan food products and kosher with organic tofu and organic soybeans. The company offers two product lines, namely Tofurky and Tempeh, which are provided in frozen and chilled format. Its tempeh products include organic soy tempeh and organic five-grain tempeh. The company’s Tofurky products include deli slices, pizza, chicken, pies, sausages, and others. 80% of the company’s products are kosher and the ingredients are non-GMO.

  • Gold&Green Foods Ltd. - Gold&Green Foods Ltd. is a private company. It was established in 2015 and is headquartered in Helsinki, Finland. The company offers plant-based meat substitutes made from broad beans, peas, and oats. The company’s product line includes pulled oats and deli bites. Deli OatBites and Pulled Oats are made with a mixture of three plant protein sources, which include faba beans, oats, and peas. The peas are sourced from a Central Europe manufacturer. Pulled oats products are plant-based proteins made from golden oats and natural green legumes and are available in retail supermarkets in the Netherlands and Finland. Pulled Oats is available in the retail distribution channel in countries such as Finland, Sweden, Norway, the Netherlands, Spain, Sweden, Denmark, the UK, Iran, Belgium, and the U.S. The company uses superior quality ingredients, such as oats and faba beans, which are grown in clean Nordic nature located in Finland and Sweden.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Plant-based Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Plant-based Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation



This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.



We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member


ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon