What is Plant Based Meal?
Plant Based Meal is basically food products which are made using plant based proteins. This products taste similar to that of animal based products are even similar in appearance as animal based products. But are animal free. This include dairy alternative products, plant based meat and meat alternative products. This products are sourced from soy, almond, cashew, pea, wheat, rice and others, with soy protein being most famous. Growing culture of veganism and vegetarianism has led to the growth of the plant based meals. Geographically, North America is expected to emerge as the biggest market of the plant based meal.
The market study is broken down by Type (Soy Protein, Almond Protein, Wheat Protein, Pea Protein, Rice Protein and Others) and major geographies with country level break-up.
Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Danone S.A. (France), Tyson Foods, Inc. (United States), Beyond Meat Inc. (United States), Impossible Foods Inc. (United States), Amy’s Kitchen Inc. (United States), Hain Celestial Group, Inc. (United States), Garden Protein International, Inc. (Canada), Earth's Own Food Company Inc. (Canada), Sanitarium Health and Wellbeing Company (Australia) and Daiya Foods Inc. (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Taifun –Tofu GmbH (Germany), VBIte Food Ltd. (United Kingdom) and Sahmyook Foods (South Korea).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Plant Based Meal market by Type, Application and Region.
On the basis of geography, the market of Plant Based Meal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online {E-Commerce Stores} will boost the Plant Based Meal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering , the sub-segment i.e. Ready to Eat will boost the Plant Based Meal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Dairy Alternatives , the sub-segment i.e. Plant-Based Milk will boost the Plant Based Meal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
Market Trend
- Soy Protein based Products Account for Larger Market Share
Market Drivers
- Growth in Vegan and Vegetarianism Culture
- Increasing Diseases due to Consumption of the Animal based Products such as Cardio-Vascular Diseases
Opportunities
- Plant Based Meat Segment is expected to Witness New Innovations specifically in Seafood Segment
Restraints
- Expensive than Regular Meals
Challenges
- Less Awareness about the Presence of the Plant based Meals in Developing Countries
Key Target Audience
Plant Based Meal Producers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.