The plant-based chicken market is expected to record a CAGR of 18.4% from 2023 to 2033, from US$ 2,325.4 million in 2023 to US$ 12,601.0 million by 2033.
Plant-based chicken, often known as vegan chicken or meatless chicken, is a revolutionary product that has taken the culinary world by storm. This delicious and ecological alternative to traditional chicken, made using cutting-edge plant-based technology, is ideal for those wishing to reduce their meat consumption.
The world’s rising protein intake is the key driver of the worldwide plant-based chicken business. As protein consumption rises, corporations are increasingly likely to offer consumers a choice of diverse plant-based chicken products as a substitute for actual chicken. Plant-based chicken is gaining popularity since it tastes and looks like chicken pieces, nuggets, and steaks.
Several government limitations on animal slaughter in many countries are driving worldwide market expansion. The global market for plant-based chickens is booming due to growing concern about maintaining environmental balance. Rising per capita and disposable incomes in developing countries are predicted to boost international market expansion. Affluence adds to a better quality of life, and in growing countries, a high standard of living has raised market demand for plant-based chicken. As people’s health knowledge develops, customer preferences evolve away from animal products and towards organic alternatives.
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This shift prompted the plant-based chicken business to broaden its menu and develop new items. Manufacturers have created appealing and eco-friendly food packaging in order to attract customers and expand their consumer base, consequently driving the global market growth.
This plausible link encourages customers to switch from animal products to herbal items. The increased popularity of organic products on social media and other print media is expected to drive the worldwide plant-based chicken market during the forecast period.
Key Points from the Plant-based Chicken Market
- The market is expected to surpass US$ 12,601.0 million by 2033.
- Growing concerns about animal cruelty, combined with the advent of the meat 2.0 revolution, are likely to provide the global plant-based chicken market the most traction in the coming decade.
- Plant-based chicken market is expected to record a CAGR of 18.4% during the forecast period.
- North America dominated the plant-based chicken market.
Key Development in the Plant-based Chicken Market
- July 2019 – Dunkin Donuts announced to serve breakfast sandwiches made with the Beyond Meat brand of meatless sausage products throughout Manhattan, New York.
- October 2020 – Impossible Foods Inc. expanded its presence in the market in Canada with the introduction of its flagship product, the Impossible Burger. The product is offered in about 600 Sobeys family shops as well as through the retailer’s online grocery home delivery service.
- September 2020 – Beyond Meat introduced its new product, Beyond Meatballs, in grocery stores across the United States. This product met consumer demand for nutritious and simple-to-prepare plant-based food.
- September 2020 – Planterra Foods inked a three-year relationship with the NFL team Denver Broncos. As a result of this collaboration, the OZO brand was designated as the Denver Broncos’ Plant-Based Food Option.
- September 2020 – Beyond Meat Food Co. Ltd., a subsidiary of Beyond Meat, signed a deal with Jiaxing (China) Economic and Technology Development Zone to design and develop manufacturing facilities.
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Key Segment
Product Type:
- Burger Patty
- Crumbles & Grounds
- Sausages
- Hot Dogs
- Nuggets
- Bacon Chips
- Deli Slices
- Chunks & Tips
- Shreds
- Cutlet
- Strips, Tenders, & Fingers
- Meatballs (Meatless)
Source:
- Soy-based Protein
- Wheat-based Protein
- Pea-based Protein
- Canola-based Protein
- Fava Bean-based Protein
- Potato-based Protein
- Rice-based Protein
- Lentin-based Protein
- Flax-based Protein
- Chia-based Protein
- Corn-based Protein
Distribution Channel:
- Retail
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Food Stores
- Online Retail
- HoReCa (Food Service Sectors)
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains anssssd industry trends across more than 110 countries.
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