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The plant-based burger market is registering a valuation of US$ 5.1 billion in 2023. The market is expected to rise to US$ 23.2 billion by 2033 and is securing a CAGR of 16.3% during the forecast period. The market has seen significant growth in recent years, and there are several driving factors behind this trend which are discussed below
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Attributes | Details |
---|---|
Market CAGR (2023 to 2033) | 16.3% |
Market Valuation (2023) | US$ 5.1 billion |
Market Valuation (2033) | US$ 23.2 billion |
The market experienced significant growth between 2018 and 2022. According to Future Market Insights, the global plant-based burger market was valued at US$ 4.2 billion in 2022 and is projected to reach US$ 5.1 billion by 2023, growing at a compound annual growth rate (CAGR) of 16.3% during the forecast period.
The COVID-19 pandemic has also contributed to the growth of the plant-based burger market, as consumers are increasingly looking for healthy and sustainable food options. As a result, many companies have entered the market, including established players such as Beyond Meat and Impossible Foods and traditional meat producers like Tyson Foods and Nestle. It has led to increased competition in the market as companies strive to differentiate their products and capture market share.
Plant-based Burger Market:
Attributes | Plant-based Burger Market |
---|---|
CAGR (2023 to 2033) | 16.3% |
Value (2023) | US$ 5.1 billion |
Value (2033) | US$ 23.2 billion |
Trends | Growing demand for health and wellness and the rapidly increasing popularity of veganism among consumers are fueling the market size. |
Opportunities | Increasing government initiatives, market players, and research & development activities. |
Ingredients Market for Plant-based Food & Beverages:
Attributes | Ingredients Market for Plant-based Food & Beverages |
---|---|
CAGR (2023 to 2033) | 15% |
Value (2023) | US$ 2.3 billion |
Value (2033) | US$ 9.3 billion |
Trends | Rising demand for a healthy lifestyle, vegan products, probiotics, and Omega-3 products. |
Opportunities | Growing innovative products, advanced technology, and government initiatives. |
Vegan Market:
Attributes | Vegan Market |
---|---|
CAGR (2023 to 2033) | 10% |
Value (2023) | US$ 29.51 billion |
Value (2033) | US$ 76.54 billion |
Trends | The rising population of vegetarians and concerns about animal cruelty. |
Opportunities | The rising chronic disease, fitness freak consumers and prominent players are driving the market opportunities. |
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Plant-based Beef Dominates the Global Market
According to a report by Future Market Insights, plant-based beef products are estimated to secure a leading share of 15.6% in the global market by 2033. Plant-based beef products are designed to replicate traditional beef burgers' taste, texture, and appearance. These things make them popular among consumers looking for plant-based meat alternatives.
The plant-based products are often made with a combination of plant-based proteins, such as soy protein, and other ingredients to mimic the flavor and texture.
Beyond Meat and Impossible Foods are two leading players in the plant-based beef market. They have been able to gain a significant share of the market with their innovative products. However, other companies are also entering the market with their plant-based beef products, increasing competition in the industry. Historically, plant-based beef secured a CAGR of 14.3% between 2018 and 2022.
The market for plant-based beef burgers continues to grow in the coming years, as consumers continue seeking healthy, sustainable food options.
Which Source Category Dominates the Global Market?
According to Future Market Insights, soy-based protein is anticipated to secure a maximum share of 15.6% by source in the global market by 2033. Soy protein is a popular choice for the plant-based burger because it contains all the essential amino acids the body needs. It is also a relatively inexpensive source of protein, making it an attractive option for companies looking to keep their costs down.
Other plant-based protein sources commonly used in plant-based burgers include pea protein, wheat protein, and mycoprotein. However, soy protein remains the widely used source of plant-based protein in the market.
Overall, the dominance of soy-based protein in the market reflects its versatility and cost-effectiveness as a source of plant-based protein. Historically, soy-based protein captured a CAGR of 16.1% between 2018 and 2022.
The United States is one of the maximum share-holding and significantly growing markets, securing a CAGR of 13.5% with a valuation of US$ 4.8 billion by 2033.
Several Factors have Contributed to the United States Market Growth, Including
A few of the key players in the United States plant-based burger market include Beyond Meat, Impossible Foods, MorningStar Farms, and Gardein. These companies have gained significant market share by offering innovative, high-quality plant-based burger products.
Overall, the market in the United States is expected to continue to grow as more consumers seek out healthy and sustainable food options. With a growing market, there is a significant opportunity for new entrants to capture market share. Historically, the United States secured a CAGR of 11.3% between 2018 and 2022.
China's plant-based burger market is a notably growing sector. According to Future Market Insights, China is registering a CAGR of 10.5% with a valuation of US$ 0.7 billion by 2033.
Several Factors are Contributing to the Growth of the Market in China
Historically, China market captured a CAGR of 9.6% between 2018 and 2022.
The United Kingdom is a significantly growing nation capturing a CAGR of 18.8% with a valuation of US$ 2.7 billion by 2033. The several factors that influence the United Kingdom plant-based burger market are
Historically, the United Kingdom secured a CAGR of 16.4% between 2018 and 2022.
The market has experienced significant growth in recent years, with many consumers seeking meat-free alternatives to traditional burgers. The competitive landscape of this market is constantly evolving, with both established players and new entrants vying for a share of the market.
A Few of the Key Players Working in the Plant-based Burger Market are
Recent Developments in the Market are
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | US$ billion for Value |
Key Countries Covered | The United States, Canada, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
Key Segments Covered |
|
Key Companies Profiled |
|
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The plant-based burger market is valued at US$ 5.1 billion in 2023.
Beyond Meat, Impossible Foods, and Gardein are key market players.
The soy-based segment is likely to remain preferred through 2033.
The players are adopting of mergers and acquisitions to expand their market share.
China, India, and Japan dominate the Asian plant-based burger market.
1. Executive Summary | Plant-based Burger Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Product Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Product Type, 2023 to 2033 5.3.1. Plant-based Chicken 5.3.2. Plant-based Beef 5.3.3. Plant-based Pork 5.3.4. Plant-based Fish 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Source, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Source, 2023 to 2033 6.3.1. Soy-based Protein 6.3.2. Wheat-based Protein 6.3.3. Pea-based Protein 6.3.4. Canola-based Protein 6.3.5. Fava Bean-based Protein 6.3.6. Potato-based Protein 6.3.7. Rice-based Protein 6.3.8. Lentil-based Protein 6.3.9. Flax-based Protein 6.3.10. Chia-based Protein 6.3.11. Corn-based Protein 6.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Distribution Channel, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Distribution Channel, 2023 to 2033 7.3.1. Hypermarkets/Supermarkets 7.3.2. Convenience Stores 7.3.3. Specialty Food Stores 7.3.4. Online Retail 7.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Product Type 9.2.3. By Source 9.2.4. By Distribution Channel 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Source 9.3.4. By Distribution Channel 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product Type 10.2.3. By Source 10.2.4. By Distribution Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Source 10.3.4. By Distribution Channel 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Product Type 11.2.3. By Source 11.2.4. By Distribution Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Source 11.3.4. By Distribution Channel 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Product Type 12.2.3. By Source 12.2.4. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Source 12.3.4. By Distribution Channel 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Product Type 13.2.3. By Source 13.2.4. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Source 13.3.4. By Distribution Channel 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Product Type 14.1.2.2. By Source 14.1.2.3. By Distribution Channel 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Product Type 14.2.2.2. By Source 14.2.2.3. By Distribution Channel 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Product Type 14.3.2.2. By Source 14.3.2.3. By Distribution Channel 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Product Type 14.4.2.2. By Source 14.4.2.3. By Distribution Channel 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Product Type 14.5.2.2. By Source 14.5.2.3. By Distribution Channel 14.6. United kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Product Type 14.6.2.2. By Source 14.6.2.3. By Distribution Channel 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Product Type 14.7.2.2. By Source 14.7.2.3. By Distribution Channel 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Product Type 14.8.2.2. By Source 14.8.2.3. By Distribution Channel 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Product Type 14.9.2.2. By Source 14.9.2.3. By Distribution Channel 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Product Type 14.10.2.2. By Source 14.10.2.3. By Distribution Channel 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Product Type 14.11.2.2. By Source 14.11.2.3. By Distribution Channel 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Product Type 14.12.2.2. By Source 14.12.2.3. By Distribution Channel 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Product Type 14.13.2.2. By Source 14.13.2.3. By Distribution Channel 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Product Type 14.14.2.2. By Source 14.14.2.3. By Distribution Channel 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Product Type 14.15.2.2. By Source 14.15.2.3. By Distribution Channel 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Product Type 14.16.2.2. By Source 14.16.2.3. By Distribution Channel 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Product Type 14.17.2.2. By Source 14.17.2.3. By Distribution Channel 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Product Type 14.18.2.2. By Source 14.18.2.3. By Distribution Channel 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Product Type 14.19.2.2. By Source 14.19.2.3. By Distribution Channel 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Product Type 14.20.2.2. By Source 14.20.2.3. By Distribution Channel 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Product Type 15.3.3. By Source 15.3.4. By Distribution Channel 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. MorningStar Farms 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Sotexpro SA 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Crown Soya Protein Group 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Puris Proteins 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. LLC Ingredion Inc 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Beneo GmbH 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Glanbia plc 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Fuji Oil Co., Ltd. 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Archer Daniels Midland Company 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Tyson Foods, Inc. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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