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Plant-based Chicken Market Size, Share Global Analysis Report, 2023-2030
Plant-based Chicken Market By Distribution Channels (Retail Stores, Specialty Stores, Convenience Stores, And Online Channels), By Sources (Corn-Based, Chia-Based, Flax-Based, Lentil-Based, Rice-Based, Potato-Based, Fava Bean-Based, Canola-Based, Pea-Based, Wheat-Based, And Soy-Based Proteins), By Products (Meatball Strips, Tenders & Fingers, Cutlets, Shreds, Chunks And Tips, Deli Slices, Bacon Chips, Nuggets, Hot Dogs, Sausages, Crumbles & Grounds, Burger Patty, And Others), And By Region: - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2023-2030
Industry Insights
[206+ Pages Report] According to Facts and Factors, the global plant-based chicken market size was valued at USD 1,494.14 million in 2022 and is anticipated to reach USD 3,774.56 million during the forecast period. The plant-based chicken industry is likely to grow with a CAGR of 12.45% between 2023-2030.
Market Overview
Plant-based chicken refers to a dish that is designed to mimic the taste, texture, and appearance of chicken meat. However, this product is entirely made from plant-based ingredients and does not include any animal by-products. Plant-based chicken is prepared with low cholesterol and saturated fats as compared to its animal counterpart, and therefore, it is expected to be full of vitamins and minerals.
Key Insights
- As per the analysis shared by our research analyst, the global plant-based chicken market size is estimated to grow annually at a CAGR of around 12.45% over the forecast period (2023-2030).
- In terms of revenue, the global plant-based chicken market size was valued at around USD 1,494.14 million in 2022 and is projected to reach USD 3,774.56 million by 2030.
- Increasing demand for meat alternatives is driving the growth of the global plant-based chicken market.
- Based on the distribution channel, the online channel segment is growing at a high rate and is projected to dominate the global market.
- Based on the sources, the soy-based protein segment is projected to swipe the largest market share.
- Based on the products, the burger patty segment is expected to swipe the largest share of the global market.
- Based on region, North America is expected to dominate the global market during the forecast period.
Growth Drivers
- Increasing demand for meat alternatives is likely to drive the growth of the global market.
The significant rise in demand for meat alternatives from consumers following flexitarian, vegan, or vegetarian diets is one of the major factors driving the growth of the global plant-based chicken market. The plant-based chicken industry offers various options that align with the growing dietary choices of people.
Also, the constant innovations in food technology have significantly helped manufacturers to copy the taste and texture of the traditional chicken closely. Therefore, the improvements in product quality are attracting people more towards the plant-based alternatives.
Moreover, the global expansion of these products has gained popularity in several countries, which has broadened the market's reach and is expected to swipe the largest market share in the coming years. For instance, Beyond Meat partnered with Pizza Hut in January 2022 to complement its product portfolio with some unique menu items to cater to the growing demand from consumers.
Restraints
- Supply chain challenges are likely to hamper the growth of the global market.
Maintaining a consistent supply chain for plant-based products is quite challenging in today's market. However, people are highly aware of plant-based products. However, still, the plant-based chicken market is still not well established, and therefore, maintaining a consistent supply chain is difficult due to product shortages or price fluctuations.
Opportunities
- Investment and funding are likely to foster growth opportunities in the global market.
The plant-based chicken industry is significantly being funded by established food companies and venture capitalists because of the growing potential of the market. The increasing investments are likely to improve the quality of the products and, therefore, expand the network, which is likely to open new opportunities in the plant-based chicken industry.
For instance, Unilever said to come up with Enough in May 2022 to bring unique vegan meat products. The products will be launched under the name the Vegetarian Butcher, it's a unique protein mix from Unilever.
Challenges
- Cultural preferences are a big challenge in the global market.
Several regions hold strong cultural ties with animal-based products. Therefore, overcoming those barriers is a challenge for manufacturers in the industry. Moreover, consumers are still skeptical about the health and safety of these products, which is likely to slow down the growth trajectory of the global plant-based chicken market.
Segmentation Analysis
The global plant-based chicken market can be segmented into distribution channels, sources, products, and regions.
By distribution channel, the market can be segmented into retail stores, specialty stores, convenience stores, and online channels. The online channels are likely to grow significantly in the global plant-based chicken market during the anticipated period. The rise of e-commerce has significantly contributed to the growth of the segment. Consumers prefer to shop online because of the convenience of discounts and doorstep services.
Furthermore, online channels help brands reach a larger audience than shallow or traditional marketing channels. Through it, brands are able to reach the regions where even plant-based products are not available in retail stores.
Additionally, the online platforms offer a much larger product range select amongst. Also, some big companies use online channels as direct-to-consumers selling, thereby eliminating the intermediaries and offering a competitive size and exclusive products.
By sources, the market can be segmented into corn-based, chia-based, flax-based, lentil-based, rice-based, potato-based, fava bean-based, canola-based, pea-based, wheat-based, and soy-based proteins. Soy-based protein segment is expected to project the highest growth in the plant-based chicken industry during the forecast period. Soy is one of the best available protein sources containing all the essential amino acids and is able to fill the entire nutrition requirement.
Also, it is an effective meat replacement that consumers highly prefer. Moreover, soy protein helps manufacturers form a similar mouthfeel and texture to the chicken meat product effectively. These are able to create chicken-like products like patties, tenders, and nuggets.
Moreover, soy-based vegan products have been in the market for the past few years, and consumers have largely accepted them more than any other available options. This is because soy offers the same taste and feel as animal-based products.
By products, the market can be segmented into meatball strips, tenders & fingers, cutlets, shreds, chunks and tips, deli slices, bacon chips, nuggets, hot dogs, sausages, crumbles & grounds, burger patty, and others. The burger patty segment is expected to swipe the largest share of the global plant-based chicken market.
Burger patty refers to the plant-based alternatives to the traditional beef burgers. Vegan burger patties have gained immense popularity among consumers in recent years. Big companies operating in the food service sector are coming up with new plant-based burger options like cheeseburgers or hamburgers to capture a larger customer base in the market.
Additionally, these burger parties are versatile in nature and can be used for a large number of dishes and recipes like pizza, tenders, burgers, and several others. Therefore, such a landscape is likely to foster developments in the segment in the coming years.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 1,494.14 Million |
Projected Market Size in 2030 |
USD 3,774.56 Million |
CAGR Growth Rate |
12.45% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Beyond Meat, Impossible Foods, Quorn, Gardein, MorningStar Farms, Tofurky, Sweet Earth Foods, NUGGS, No Evil Foods, Good Catch, Alpha Foods, The Fry Family Food Co., and Others. |
Key Segment |
By Distribution Channels, By Sources, By Products, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- North America to dominate the global market during the forecast period.
North America accounts for the largest share of the global plant-based chicken market. The market is expected to expand significantly because of various factors like sustainability concerns, and increasing awareness regarding health and animal cruelty issues.
Moreover, the demand for plant-based chicken products is constantly growing because people are shifting towards flexitarian, vegetarian, or vegan diets. Therefore, manufacturers are increasing the research and development process in order to come up with more innovative and healthy food options. Furthermore, manufacturers have made plant-based chicken products available all across the region in supermarkets, national food retailers, grocery stores, and several others.
Also, the mainstream brands have their dedicated companies, which are only expanded for distribution. Therefore, people are becoming more aware of the wide availability of vegan products, which in turn is further expected to boost the demand for plant-based chicken in the region.
Asia Pacific is also expected to experience a high growth rate during the forecast period. Asian nations are growing fast in the field of plant-based products because of the growing awareness among people regarding the health advantages of plant-based diets. Furthermore, the region is highly driven by Western trends, and therefore, it is likely to positively impact the growth trajectory of the regional market in the coming years.
Also, the region is home to a diverse culture and consumer base with different dietary preferences. As a result, manufacturers are increasing investments to come up with unique products to cater to the growing requirements of the people. For instance, Quorn launched a new research and development center in March 2023 in Dallas, Texas. The center is opened particularly for developing new plant-based chicken products in the North American market. Quorn is a British plant-based food company.
Competitive Analysis
The key players in the global plant-based chicken market include:
- Beyond Meat
- Impossible Foods
- Quorn
- Gardein
- MorningStar Farms
- Tofurky
- Sweet Earth Foods
- NUGGS
- No Evil Foods
- Good Catch
- Alpha Foods
- The Fry Family Food Co.
For instance, Impossible Foods said to launch its vegan chicken nuggets in the US in January 2023. The products are prepared with the company's proprietary mix of proteins. The products made by the company are said to be indistinguishable from real chickens.
The global plant-based chicken market is segmented as follows:
By Distribution Channels Segment Analysis
- Retail Stores
- Specialty Stores
- Convenience Stores
- Online Channels
By Sources Segment Analysis
- Corn-Based
- Chia-Based
- Flax-Based
- Lentil-Based
- Rice-Based
- Potato-Based
- Fava Bean-Based
- Canola-Based
- Pea-Based
- Wheat-Based
- Soy-Based Proteins
By Products Segment Analysis
- Meatball
- Strips, Tenders & Fingers
- Cutlets, Shreds
- Chunks And Tips
- Deli Slices
- Bacon Chips
- Nuggets
- Hot Dogs
- Sausages, Crumbles & Grounds
- Burger Patty
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Beyond Meat
- Impossible Foods
- Quorn
- Gardein
- MorningStar Farms
- Tofurky
- Sweet Earth Foods
- NUGGS
- No Evil Foods
- Good Catch
- Alpha Foods
- The Fry Family Food Co.
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