The global plant-based meatballs market stands at a valuation of USD 138.2 million in 2023, and is predicted to expand rapidly at a prodigious CAGR of 18.3% from 2023 to 2033, reaching USD 391.2 million by 2033.
Wide Variety of Plant-Based Meatballs Gives Rise to Novel Stocking Methods
| Attributes | Details |
|---|---|
| Plant-based Meatballs Market CAGR (2023 to 2033) | 18.3% |
| Plant-based Meatballs Market Size (2023) | USD 138.2 million |
| Plant-based Meatballs Market Size (2033) | USD 391.2 million |
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The global plant-based meatballs industry experienced strong growth between 2018 and 2022, with a CAGR of 15.2%. From USD 68.4 million in 2018 to USD 120 million in 2022, the market showed an astounding expansion.
For the past few years, people are choosing flexitarian and vegetarian diets as they become more health concerned. In contrast to meat eating, which carries health hazards like heart disease, cancer, diabetes, and obesity, plant-based meatball products don't. As a result, customers of all ages are becoming more interested in pure plant-based meatballs.
Short-term growth (2023 to 2026): Due to the negative impact on the environment and ethical failures in the production of meat, people globally are choosing plant-based alternatives to animal flesh, which is boosting market growth.
Medium-term growth (2027 to 2030): Sales of plant-based meatballs is likely to be impacted by customer awareness of the health benefits and risks associated with their diet.
Long-term growth (2031 to 2033): Businesses like Beyond Meat and Impossible Foods have already found success in the plant-based meat industry, and as demand increases, more businesses are likely to contribute to the market share growth.
People are choosing plant-based meatball products as a result of rising worries about animal life and campaigns by organizations dedicated to animal welfare, like Animal People, AnimaNaturalis, and BirdLife International. These are available in a broad range, such as plant-based chicken, plant-based beef, plant-based pork, and others, meeting the requirements of a diverse range of consumers.
Due to all these factors, global consumption of plant-based meatballs is anticipated to have an absolute opportunity growth of USD 253 million between 2023 and 2033.
As plant-based meatballs are made from natural protein sources, the abundance of wide varieties of plant-based protein, such as soy, wheat, pea, canola, fava-bean, potato, rice, lentil, and others, is aiding the market growth.
Natural plant-based proteins are easily available, cost-effective, and free from any side effects, making them highly preferred for plant-based meatball production. Plant based proteins, including plantible foods, rebellyous foods, and others, are rapidly replacing the conventional meat, such as chicken, beef, pork, and others.
As the meat value chains are significantly simplified to the ‘clean meat’ labs, which are taking the places of farms, slaughterhouses, feedlabs, and others, the high availability of natural protein sources is aiding the market growth.
The market is seeing a rise in demand for plant-based Italian meatballs. The same fantastic taste and texture are still present, plus they provide a healthier and more environmentally friendly option to conventional meatballs.
According to FMI, the diverse categories of plant-based protein sources are forecast to exponential market growth in the coming years.
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Plant-based meatballs products are manufactured by layering in plant-based fats, binders, vegetable-based flavors, colors, and others through the process of heating, cooling, and pressuring to create the fibrous texture of meat. As the entire procedure needs advanced technology as well as expert handling, the plant-based meatballs production is only confined within the top companies in this domain.
Also, the recent outbreak of the COVID-19 pandemic has been causing decelerated market growth due to several factors, such as closed manufacturing units during lockdown, scarcity of raw material, and economic crisis.
Europe has emerged dominant in the global plant-based meatballs sector and is expected to continue leading during the forecast period.
| Country | United Kingdom |
|---|---|
| CAGR (2018 to 2022) | 13.5% |
| CAGR (2023 to 2033) | 16.5% |
| Market Value (2033) | USD 23.47 million |
| Absolute Growth (2023 to 2033) | USD 8.22 million |
| Country | Germany |
|---|---|
| CAGR (2018 to 2022) | 13.8% |
| CAGR (2023 to 2033) | 17.6% |
| Market Value (2033) | USD 31.3 million |
| Absolute Growth (2023 to 2033) | USD 7.51 million |
| Country | Spain |
|---|---|
| CAGR (2018 to 2022) | 16.4% |
| CAGR (2023 to 2033) | 18.5% |
| Market Value (2033) | USD 13.3 million |
| Absolute Growth (2023 to 2033) | USD 2.00 million |
Abundance of natural protein sources, coupled with the consumer interest towards maintaining a clean lifestyle, is boosting the United Kingdom plant-based meatballs business growth.
As the production of meat and meat-based processed foods emits a high number of greenhouse gasses impacting the environment, various government rules, such as the Paris Agreement, are encouraging people to adopt plant-based diets. As a result, the United Kingdom market is experiencing impressive growth.
German cuisine is evolving. More than half of the population considers themselves flexitarians, and there are an increasing number of vegans. Germany is now one of the world's significant plant-based meatballs sectors, providing excellent potential for United States exporters.
The number of vegan and vegetarian restaurants has sharply expanded over the last several years due to the Germans' shifting dietary habits. Numerous new businesses have entered the market with alternatives to burgers, chicken, sausages, and fish.
The significant increase in grocery sales and awareness of the negative effects of eating animal flesh have an impact on shopping lists in Spain. As they eat meat and there are stories that are negative about the livestock business, Spaniards are now more aware of the problems linked to fats. As a result, there is a rise in demand for goods with clean labels and a fall in desire for processed foods.
The Spanish believe that industries or vehicle traffic are to blame for climatic changes. Consumers must be made aware of the negative consequences in order to promote a plant-based diet. This can be accomplished by following a number of rules, two of which are encouraging a plant-based diet and reducing the consumption of animal products.
North America's plant-based meatballs sector is the second leading market for meatballs. The growing health concern among the people is catalyzing the market growth to keep it in the key position.
| United States CAGR (2018 to 2022) | 14% |
|---|---|
| United States CAGR (2023 to 2033) | 15.8% |
| United States Market Value (2033) | USD 88 million |
| United States Market Absolute Growth (2023 to 2033) | USD 37 million |
Furthermore, leading countries such as the United States, Canada, and others are providing sufficient support to the farmers, along with the invention of new-age technologies for quality crops production. This can be used as the natural protein sources for plant-based meatballs manufacturing.
Plant-based ground beef meatballs have become increasingly popular in the United States. They offer a healthier alternative to traditional ground beef, as they are made with plant-based proteins such as beans, lentils, and mushrooms.
The well-developed agricultural industry in China is aiding the East Asia demand for plant-based meatballs. Growing demand for plant-based protein alternatives, coupled with the rising vegan population, is bolstering the China plant-based meatballs sales growth to make it the third leading market among all other regions.
Due to this, the market in China expected a CAGR of 18.4% and valuation of USD 62.20 million by 2033.
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According to FMI, plant-based chicken is expected to dominate other plant-based meatballs products with a CAGR of 16.3% by 2033. Between 2018 and 2022, this segment was expanding at a CAGR of 13.7%.
Plant-based chicken is highly popular, as it is safe to consume without any health risks. It is also tasty, which is why it is preferred by a big portion of consumers, starting from kids to elderly ones.
Due to having several health benefits, such as maintaining the body's cholesterol, blood pressure, decreasing the risk of cancer, heart diseases, and others while supplying the required protein, plant based chicken is hugely preferred around the globe.
According to FMI, soy based protein is expected to lead the source-wise segments with a CAGR of 17.2% by 2033. Between 2018 and 2022, this segment was expanding at a CAGR of 14.8%.
Soy based protein products are low in saturated fat and naturally cholesterol free. Due to their cost effectiveness and abundance, soy based protein is the leading source in the market.
Having various health benefits, such as improving cardiovascular health, controlling obesity, preventing certain types of cancer, and others, soy based protein, are hugely preferred in various plant-based meatballs products manufacturing.
With the rising demand for plant-based diet, food service sectors are getting more inclined to opt for plant-based meatballs products. As plant-based meatballs products meet the requirements from a wide range of consumers from both health and taste perspectives, they are getting highly popular across the food service sectors.
According to FMI, the food service sector is expected to remain in the dominant position among all other distribution channels.
Upgraded Products: Key Goal for Plant-based Meatballs Manufacturers
As the global market is growing steadily, the key players in the plant-based meatballs market, such as Ikea, Subway, Beyond Meat, and others, are focusing on launching a wide variety of products to meet the huge consumers’ requirements.
For instance, Ikea has launched their exclusive IKEA Meatball, enriched with high protein and taste, while having only 4% of the climate footprint.
Kellogg’s has launched their new INCOGMEATO™ Plant-Based Ground Package, manufactured with 100% plant protein from plant-based ground with 48% less saturated fat. The company has also released their MorningStar Farms ® Meatballs which is easily upgradable to any traditional sandwiches or dishes.
Recently, Subway has collaborated with Beyond Meat in order to provide more efficient products and services to their customers. They have come up with their new Subway Beyond Meatball Marinara Sub, which includes meatballs designed by joint efforts of Beyond Meat and Subway.
Hydrosol has launched their wide varieties of meatballs products, such as cooked sausage, bratwurst, cold cuts, fat emulsions, raw sausage, cooked ham, and others.
The market is valued at USD 138.2 million in 2023.
The growth potential of the plant-based meatballs market is 18.3% CAGR through 2033.
The market is estimated to reach USD 391.2 million by 2033.
Growing demand for natural protein sources is the key trend.
Beyond Meat, Kellogg’s, and Sysco Foodie are key plant-based meatballs market players.
1. Executive Summary | Plant-based Meatballs Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Plant Based Chicken 5.2. Plant Based Beef 5.3. Plant Based Pork 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Soy-Based Protein 6.2. Wheat-Based Protein 6.3. Pea-Based Protein 6.4. Canola-Based Protein 6.5. Fava-Bean Based Protein 6.6. Potato-Based Protein 6.7. Rice-Based Protein 6.8. Lentil-Based Protein 6.9. Flax-Based Protein 6.10. Chia-Based Protein 6.11. Corn-Based Protein 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hypermarkets/Supermarkets 7.2. Convenience Stores 7.3. Specialty Food Stores 7.4. HoReCA 7.5. Online Retail 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Beyond Meat 16.2. Kellogg’s 16.3. Sysco Foodie 16.4. GCL Food Ingredients 16.5. Ikea 16.6. Mycorena AB 16.7. Subway 16.8. Zhenmeat 16.9. Schouten Food 16.10. Hydrosol 16.11. Gardein 17. Assumptions & Acronyms Used 18. Research Methodology
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