Vegan Meat Market Analysis - Global Industry Size, Share, Trends and Forecast 2020 - 2027

Vegan meat products are much like beef to taste. In view of global meat consumption, a rising demand for vegetarian and vegan alternatives has been taking place in recent decades.

Vegan meat is now growing not only thanks to vegetarians and vegans, but also because of the increased food consistency and expectations of vegan meat as a healthier substitute. According to the International Agency for Research on Cancer (IARC), processed meat and red meat may have a cancerous carcinogenic effect. As a result of these health consequences a diet containing less refined and red food and higher in vegetables, fruits and whole grains was suggested by the American Cancer Society. Besides this, the American Cancer Society has issued recommendations on the selection of beans rather than red meat or refined meat for diet and physical exercise. These various findings have shown a growing understanding of the negative effects on human wellbeing of meat consumption.

Vegan meat is demanded by more and more customers both for medicinal purposes and in a healthier lifestyle which continues to raise the market for vegan meat. In addition, ongoing research and development activities by vegan meat manufacturers are anticipated to increase the growth of the global vegan meat industry in the next few years as regards better flavor, texture, longer shelving and enhanced nutritional profiles. The growing desire for vegan diets among customers worldwide is offering businesses, start-ups and existing players joins this high-creasing industry. Known food firms including Cargill (US) and Tyson Foods (US) have invested in start-ups manufacturing vegan meat products; the selling of vegan meat products is anticipated in the next few years to be further increased.

Segment Analysis by Region

The highest share on the vegan meat market in Europe is projected to take place. Veganism has risen exponentially in Europe as the movement continues to expand. UK is home to the world's highest populations of vegans, raising demand for vegetarian products and vegan cuisine in Europe further. The latest COVID crisis and harmful animal product associations will likely improve the demand in North America and Europe for years to come so several countries in these regions have had COVID's worst effects.

Report coverage

Market	Global Vegan Meat Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Product Type, End Users and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Covid-19 may accelerate the shift to meatless alternatives

During the beginning of the coronavirus pandemic, threats of meat shortages triggered by plant shuttering, subsequent price spikes and a rising amount of sick worker situations slammed the meat industry that could provide vegan corporations with new possibilities. As the supermarkets, schools and other services are established, conventional meat delivery systems have been and are being upended. Declining production and growing costs left fewer choices for customers and vegan meat alternatives started to increase.

Key Industry Players

Due to lock-down imposed by COVID epidemic, businesses spend extensively in the retail sector. When demand unexpectedly increases, many firms have begun to change their corporate strategy. Enterprises like Beyond Meat Inc., Impossible Foods Inc. and Tofurky Co. improve productivity and provide incentives to improve customer base, expand markets and full cooperation with stakeholders on vegan meat items. Some of the major players in vegan meat market share include Amy’s Kitchen Inc., Beyond Meat, Cauldron Foods, Garden Protein International Inc., Meatless B.V., Quorn Foods, Vbites Food Ltd., Morningstar Farms, MGP Ingredients Inc., Sonic Biochem Extractions Limited, and others.

Market Segmentation

Market By Product Type

Tofu

Tempeh

Textured Vegetable Protein

Seitan

Quorn

Other 

Market By End Users

Food Chain Services

Modern Trade

Departmental Stores

Online Stores

Others

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa