Plant-based Meat Quadrant Report
Plant-based meat products are those that are derived from plant-based ingredients to mimic animal-derived meat and are designed to be indistinguishable from their animal-based equivalents. They are referred to as “meat products” as they directly substitute animal meat, made using plant sources such as soy, wheat, and peas. The most commonly available products in the market that have incorporated plant-based ingredients include nuggets, sausage, meatballs, and burger meat patties.
Plant-based meat products are a rising trend, which can serve as an alternative to animal-derived meat products. An increasing number of consumers are demanding for plant-based meat, either for medical reasons or as a healthy lifestyle, and as a result, the current generation of plant-based meat continues to expand. Additionally, continuous efforts that are being put by plant-based meat manufacturers in terms of better aroma, texture, longer shelf life, and better nutritious profile, is projected to escalate the growth of global plant-based meat market in coming years.
The plant-based meat market is projected to grow at a CAGR of 15.0% to reach a value of USD 27.9 billion by 2025. The major factors that are projected to drive the growth of the plant-based meat market are growth in vegan and flexitarian population, rise in awareness about the health benefits of plant-based meat over animal-based meat products, increase in investment by government bodies and R&D activities, and investment of the major food industry giants in plant-based meat products.
The plant-based meat market is expected to witness potential opportunities in the future with the growing demand for meat products around the globe
This report identifies and benchmarks the top plant based meat producers such as as Impossible Foods (US), Beyond Meat (US), Garden Protein International (US), Morningstar Farms (US), Quorn Foods (UK), Amy’s Kitchen (US), Maple Leaf Foods (Canada) and evaluates them on the basis of business strategy excellence and strength of product portfolio within the plant-based meat ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant’, and identified as Visionary Leaders (top companies), Dynamic Differentiators, Innovators, or Emerging companies.
The report includes market-specific company profiles of 12 top plant-based meat producers globally and assesses the recent developments that shape the competitive landscape of this highly fragmented market. An in-depth analysis of the major plant-based meat manufacturers is done at a granular level to create this report.
List of companies evaluated and profiled in the report:
- AMY’S KITCHEN
- BEYOND MEAT
- GARDEIN PROTEIN INTERNATIONAL (PINNACLE FOODS)
- GOLD&GREEN FOODS LTD.
- IMPOSSIBLE FOOD INC.
- MAPLE LEAF FOODS
- MORNINGSTAR FARMS
- QUORN FOODS
- SUNFED
- THE VEGETARIAN BUTCHER
- TOFURKY
- VBITES FOODS LIMITED
Table of Contents
1 Introduction
1.1 Market Definition
2 Market Overview
2.1 Introduction
2.2 Supply Chain
Figure 1 Plant-Based Meat: Supply Chain
2.3 Market Dynamics
Figure 2 Market Dynamics: Plant-Based Meat
2.3.1 Drivers
2.3.1.1 Growth in Vegan and Flexitarian Population Across the World
Figure 3 UK: Vegan Population, 2014–2018
2.3.1.2 Rise in Awareness About the Health Benefits of Plant-Based Meat Over Animal Meat
Table 1 Nutrients Present in Sources of Plant-Based Meat
2.3.1.3 Growth in Government Initiatives Along With Significant Investments
Table 2 Top Universities Funded for Plant-Based Meat Research
2.3.1.4 Major Food Industry Pioneer Investing and Introducing Plant-Based Meat Products
2.3.2 Restraints
2.3.2.1 Population Allergic to Plant-Based Meat Sources Such as Soy and Wheat
2.3.3 Opportunities
2.3.3.1 An Alternative Solution to Meet the Tremendously Growing Demand for Animal Meat Products in the Future
Figure 4 Global Meat Export Value, 2005 Vs. 2050 (Million Ton)
2.3.3.2 Favorable Marketing and Correct Positioning of Plant-Based Meat
2.3.4 Challenges
2.3.4.1 Perception of Taste
2.3.4.2 Genetically Modified (GM) Soybeans
3 Company Evaluation Quadrant
3.1 Terminology/Nomenclature
3.1.1 Visionary Leaders
3.1.2 Innovators
3.1.3 Dynamic Differentiators
3.1.4 Emerging Companies
Figure 5 Global Plant-Based Meat Market Company Evaluation Quadrant
4 Competitive Landscape
4.1 Overview
Figure 6 Key Developments of the Leading Players in the Plant-Based Meat Market, 2014–2018
4.2 Ranking of Key Players, 2018
Figure 7 Beyond Meat Dominated the Plant-Based Meat Market in 2018
4.2.1 New Product Launches
Table 3 New Product Launches, 2013–2019
4.2.2 Expansions & Investments
Table 4 Expansions & Investments, 2014–2019
4.2.3 Acquisitions
Table 5 Acquisitions, 2018
4.2.4 Agreements & Partnerships
Table 6 Agreements & Partnerships, 2017 - 2018
5 Company Profiles
5.1 Beyond Meat
5.1.1 Business Overview*
5.1.2 Products Offered*
5.1.3 Recent Developments*
Figure 8 Beyond Meat: SWOT Analysis
5.1.4 MnM View*
(*Above sections are present for all of below companies)
5.2 Impossible Food Inc.
Figure 9 Impossible Foods Inc: SWOT Analysis
5.3 Maple Leaf Foods
Figure 10 Maple Leaf Foods: Company Snapshot
Figure 11 Maple Leaf Foods: SWOT Analysis
5.4 The Vegetarian Butcher
Figure 12 The Vegetarian Butcher: SWOT Analysis
5.5 Gardein Protein International (Pinnacle Foods)
Figure 13 Gardein Protein International: SWOT Analysis
5.6 Morningstar Farms
5.7 Quorn Foods
5.8 Amy’s Kitchen
5.9 Tofurky
5.10 Gold&Green Foods Ltd.
5.11 Sunfed
5.12 VBites Foods Limited
6 Appendix
6.1 Methodology
6.2 List of Abbreviations
This report identifies and benchmarks the top plant based meat producers such as Impossible Foods (US), Beyond Meat (US), Garden Protein International (US), Morningstar Farms (US), Quorn Foods (UK), Amy’s Kitchen (US), Maple Leaf Foods (Canada) and evaluates them on the basis of business strategy excellence and strength of product portfolio within the plant-based meat ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant’, and identified as Visionary Leaders (top companies), Dynamic Differentiators, Innovators, or Emerging companies.
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