Enjoy complimentary customisation on priority with our Enterprise License!
The plant-based burger patties market share is expected to increase to USD 2.13 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 41.1%.
This plant-based burger patties market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plant-based burger patties market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The plant-based burger patties market report also offers information on several market vendors, including ALPHA FOODS, Amazon.com Inc., Atlantic Natural Foods Inc., Beyond Meat Inc., Conagra Brands Inc., Hilarys Drink Eat Well LLC, Hungry Planet Inc., Impossible Foods Inc., Kellogg Co., Kroger Co., Laura s Lean, Life Health Foods NZ Ltd., Maple Leaf Foods Inc., Nestle SA, Tesco Plc, The Kraft Heinz Co., The Meatless Farm Co., The Tofurky Co. Inc., Transcend Information Inc., Tyson Foods Inc., Unilever PLC, Upton s Naturals, V2 Food Pty Ltd., and WH Group Ltd. among others.
Download the Free Report Sample to Unlock the Plant-based Burger Patties Market Size for the Forecast Period and Other Important Statistics
The rising awareness of adverse effects of meat consumption is notably driving the plant-based burger patties market growth, although factors such as rising consumption of meat products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plant-based burger patties industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Plant-based Burger Patties Market Driver
The rising awareness of adverse effects of meat consumption is one of the key drivers supporting the plant-based burger patties market growth. Primarily, the demand for meat is rising across the world due to increasing income, growing population, and other sociocultural factors. On the other hand, meat pollutes fresh water because of the mixing of antibiotics, hormones, and chemical substances. Furthermore, the production of meat has an adverse impact on biodiversity and is a major source of anthropogenic greenhouse gas (GHG) emissions. Meanwhile, meat is not preferred by people who are conscious about fitness as it contains fat residues and gluten. Thus, these adverse effects of meat consumption will drive the demand for alternatives such as plant-based burger patties during the forecast period.
Key Plant-based Burger Patties Market Trend
Partnership with global foodservice chains is one of the key plant-based burger patties market trends contributing to the market growth. The number of foodservice chains is growing rapidly across the world, mainly due to the increasing demand for quick food and spending on dining out. Food service chains such as Burger King, KFC, and McDonald's are introducing plant-based offerings to their menu due to the growing demand. They are collaborating with different vendors offering plant-based burger patties. In addition, the foodservice chains are introducing burgers named after the vendors of plant-based burger patties on their menu, which provides vendors with publicity and branding. Thus, the growing number of foodservice chains worldwide, coupled with the increasing customer spending, is encouraging vendors to enter into partnerships with foodservice chains. This, in turn, will contribute to the market growth during the forecast period.
Key Plant-based Burger Patties Market Challenge
The rising consumption of meat products is one of the factors hampering the plant-based burger patties market growth. There is an increase in consumption of meat due to its low cost, high protein content, easy availability as well as rising disposable income. As per the USDA, the demand for red meat and poultry products in the US will reach 222.4 pounds on a per capita retail weight basis. The global meat market is also driven by population growth, which has led to an increase in the production capacity and supply of meat. However, healthy economic growth in APAC and MEA has increased the production and consumption of meat globally, which is hampering the growth of the global plant-based burger patties market.
This plant-based burger patties market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global plant-based burger patties market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plant-based burger patties market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the plant-based burger patties market encompasses successful business strategies deployed by the key vendors. The plant-based burger patties market is fragmented and the vendors are deploying growth strategies such as price, quality, technology, brand identity, and distribution to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The plant-based burger patties market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the plant-based burger patties market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
52% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the plant-based burger patties market in North America. Market growth in this region will be slower than the growth of the market in other regions.
The growing use of the online platform for purchasing groceries will facilitate the plant-based burger patties market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a positive impact on the regional market. In addition, market leaders in the field of plant-based burger patties, such as Nestle SA and Unilever Group, reported an increase in sales in 2021. This led to the growth of the regional plant-based burger patties market in 2021 and will also boost its demand in the region in the coming years.
To gain further insights on the market contribution of various segments Request for a FREE sample
The plant-based burger patties market share growth by the offline segment will be significant during the forecast period. The revenue of the offline distribution channel comes from the sales of products through specialty stores, including brand-owned stores, multi-brand stores, and grocery stores. The revenue of the offline distribution channel has been declining gradually over the last five years due to the shift in customer preference from offline to online shopping. Hence, vendors are expanding their stores in global and regional markets, which is fueling sales through the offline channel.
This report provides an accurate prediction of the contribution of all the segments to the growth of the plant-based burger patties market size and actionable market insights on post COVID-19 impact on each segment.
|
Plant-based Burger Patties Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 41.1% |
|
Market growth 2022-2026 |
$ 2.13 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
40.7 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 52% |
|
Key consumer countries |
US, Canada, China, UK, and Germany |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
ALPHA FOODS, Amazon.com Inc., Atlantic Natural Foods Inc., Beyond Meat Inc., Conagra Brands Inc., Hilarys Drink Eat Well LLC, Hungry Planet Inc., Impossible Foods Inc., Kellogg Co., Kroger Co., Laura s Lean, Life Health Foods NZ Ltd., Maple Leaf Foods Inc., Nestle SA, Tesco Plc, The Kraft Heinz Co., The Meatless Farm Co., The Tofurky Co. Inc., Transcend Information Inc., Tyson Foods Inc., Unilever PLC, Upton s Naturals, V2 Food Pty Ltd., and WH Group Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
