Plant-based Burger Patties Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2020
  • Pages: 149
  • SKU: IRTNTR41146
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The plant-based burger patties market size has the potential to grow by USD 693.37 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Amazon.com Inc., Beyond Meat Inc, Conagra Brands Inc, Impossible Foods Inc, Kellogg Co, Maple Leaf Foods Inc, Nestlé SA, Tesco Plc, The Kroger Co, and WH Group Ltd.

Market Overview

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Market Competitive Analysis

The plant-based burger patties market is fragmented, and the degree of fragmentation will increase during the forecast period. The vendors in the market are engaging in M&As and strategic alliances with their competitors to increase their market share and improve their distribution landscape. Maple Leaf Foods Inc, Nestlé SA, Tesco Plc, The Kroger Co, and WH Group Ltd. are some of the major market participants. The awareness about the adverse effects of the consumption of meat will offer immense growth opportunities to vendors. However, the growing popularity of DIY burger patties will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this plant-based burger patties market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this plant-based burger patties market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Amazon.com Inc.
  • Beyond Meat Inc
  • Conagra Brands Inc
  • Impossible Foods Inc
  • Kellogg Co
  • Maple Leaf Foods Inc
  • Nestlé SA
  • Tesco Plc
  • The Kroger Co
  • WH Group Ltd.

Plant-based Burger Patties Market: Segmentation by Region

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North America accounted for the largest plant-based burger patties market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing use of online platforms for purchasing groceries, tie-ups of vendors with foodservice chains, and the increasing demand for plant-based foods are some of the factors that will significantly influence plant-based burger patties market growth in this region.

52% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for plant-based burger patties in North America. However, market growth in this region will be slower than the growth of the market in other regions.

Plant-based Burger Patties Market: Segmentation by Distribution Channel

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The offline retail landscape is highly competitive due to the presence of several retailers that offer products at competitive prices. Hence to sustain in the competitive market, vendors are introducing new businesses and retail strategies, which includes better pricing strategies, widening of product assortment, and the expansion of retail landscape.

Market growth in this segment will be slower than the growth of the market in the online segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the plant-based burger patties market size.

Plant-based Burger Patties Market: Key Drivers and Trends

The demand for meat is rising across the world, owing to the increasing income, growing population, and other sociocultural factors. However, the production of meat pollutes fresh water because of the mixing of antibiotics, hormones and chemical substances. Moreover, the production of meat also harms biodiversity and is a major source of GHG emissions. It also contains fat residues and gluten, which makes them non-preferable by the people who are fitness conscious. The demand for alternatives, such as plant-based burger patties, is increasing because they are rich in protein and are preferred by individuals who follow a vegan diet. Therefore, growing concerns about the environment, awareness about health, the preference for plant-based foods, and the growth of the vegan population will be increasing the demand for global plant-based burger patties market during the forecast period.

  • Plant-based burger patties use several ingredients and are manufactured in a way that enhances their shelf life. Hence, they are manufactured and packaged with durable materials such as high-grade plastics.
  • Vendors are investing in innovative product packaging materials and are improving their production process to reduce carbon emissions.
  • The concerns regarding the level of sustainable business operations are compelling vendors to adopt sustainable manufacturing processes.
  • Maple Leaf Foods is the first major food company to be carbon neutral by acknowledging the impact of the global food system on environment and changing the production system to reduce global GHG emissions to zero.
  • The increased adoption of sustainable manufacturing by the vendors is one of the key plant-based burger patties market trends as the products are manufactured using eco-friendly methods.
  • During 2020-2024, the market will grow at a CAGR of almost 33%.  

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Plant-based Burger Patties Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive plant-based burger patties market growth during the next five years
  • Precise estimation of the plant-based burger patties market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the plant-based burger patties industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of plant-based burger patties vendors  

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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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The plant-based burger patties market growth will increase by $693.37 million during 2019-2024.
The plant-based burger patties market is expected to grow at a CAGR of 32.92% during 2019-2024.
Technavio has segmented the plant-based burger patties market by distribution channel (Offline and Online) and geographic (North America, Europe, APAC, South America, and MEA).
Amazon.com Inc., Atlantic Natural Foods Inc., Beyond Meat Inc., Conagra Brands Inc., Impossible Foods Inc., Nestlé SA, Tesco Plc, The Kroger Co., WH Group Ltd. are a few of the key vendors in the plant-based burger patties market.
North America will register the highest growth rate of 52.17% among the other regions. Therefore, the plant-based burger patties market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the plant-based burger patties market growth are:
  • Awareness about adverse effects of consumption of meat
The plant-based burger patties market vendors should focus on grabbing business opportunities from the offline segment as it accounted for the largest market share in the base year.
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