Plant-Based Meatballs Market

2020 Analysis and Review: Plant-Based Meatballs Market by Product Type – Plant Based Chicken, Plant Based Beef, Plant Based Pork for 2020 – 2030

Introduction

The global plant-based meatballs market is rapidly gaining traction due to increasing demand for plant-based protein supplements. The rising inclination towards going vegan coupled with the risk factors associated with different types of meat such as red meat and various meat products are catalyzing the market growth worldwide.

As the advanced packaging manufacturing industry has come up with sustainable, non-reactive packaging solutions for longer shelf-lives of the plant-based meatballs products, it is driving the global market consistently.

The highly efficient distribution channels such as retail sectors, supermarkets/hypermarkets, and others are making the plant-based meatballs products easily available to the wide range of consumers, resulting in further growth of the market.

As plant-based meatballs can be manufactured easily from broad ranges of plant-based protein starting from soy-based protein to corn-based protein, the global market is witnessing significant growth in both market value and volume.

According to Future Market Insights (FMI), the global plant-based meatballs market is anticipated to rise at 23% CAGR during the forecast period from year 2020 to 2030.

Rising Inclination towards Vegetarian Diet Steering Growth

As more people are getting health conscious, they are opting for flexitarian and vegetarian diet. Plant-based meatball products being free from risks normally associated with meat consumption, which poses health risks such as heart disease, cancer, diabetes, obesity, and others. As a result of this, plant based meatballs are getting increasingly popular among consumers of different age groups.

The increasing concerns regarding animal life and safety coupled with the initiatives taken by the animal welfare institutes such as Animal People, AnimaNaturalis, BirdLife International, and others are inspiring a major portion of the population to go Plant-based meatball products are available in broad range such as plant based chicken, plant based beef, plant-based pork, and others, meeting the requirements of diverse range of consumers.

Abundance of Natural Protein Sources Bolstering Growth

As plant-based meatballs are made from natural protein sources, the abundance of wide varieties of plant-based protein such as soya, wheat, pea, canola, fava-bean, potato, rice, lentil, and others are aiding the market growth.

Natural plant-based protein are easily available, cost-effective, and free from any side effects making them highly preferred for plant based meatballs production. Plant based proteins including plantible foods, rebellyous foods, and others are rapidly replacing the conventional meat such as chicken, beef, pork, and others.

As the meat value chains are significantly simplified to the ‘clean meat’ labs which are taking the places of farms, slaughterhouses, feedlabs, and others, the high availability of natural protein sources are aiding to the market growth.

According to FMI, the diverse categories of plant-based protein sources are forecast to exponential market growth in the coming years.

Key Challenges

Plant-based meatballs products are manufactured by layering in plant-based fats, binders, vegetable-based flavors, colors, and others through the process of heating, cooling, and pressuring to create the fibrous texture of meat. As the entire procedure needs advanced technology as well as expert handling, the plant based meatballs production is only confined within some of the top companies in this domain.

Furthermore, the recent outbreak of COVID-19 pandemic has been causing decelerated market growth due to several factors such as closed manufacturing units during lock down, scarcity of raw material, economic crisis, shortage of labors, job recession, non-operational supply chain, shutting down of distribution channels, and others.

According to FMI, the global plant-based meatballs market is expected to set on the path of recovery by the beginning of 2021.

Region-Wise Analysis

Europe Plant-Based Meatballs Market

Europe has emerged dominant in the global market for plant-based meatballs and is expected to continue leading through the course of the forecast period.   Abundance of natural protein sources coupled with the consumer interest towards maintaining a clean lifestyle is  boosting the Europe plant-based meatballs market growth.

As the production of meat and meat-based processed foods emit high number of greenhouse gases impacting the environment, various government rules such as Paris Agreement are encouraging people for adopting plant-based diet. As a result the Europe market is experiencing impressive growth.

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North America Plant-Based Meatballs Market

North America plant-based meatballs market is the second leading market for meatballs. The growing health concern among the people is catalyzing the market growth to keep it in the key position.

Furthermore, leading countries such as the U.S, Canada, and others are providing sufficient support to the farmers along with the invention of new-age technologies for quality crops production which can be used as the natural protein sources for plan-based meatballs manufacturing.

According to FMI, the North America plant-based meatball market is expected to expand further throughout the forecast period.

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East Asia Plant-Based Meatballs Market

The well-developed agricultural industry in the East Asia countries such as China, Japan, South Korea, and others are aiding to the East Asia plant-based meatballs market growth. Growing demand for plant-based protein alternatives coupled with the rising vegan population is bolstering the East Asia plant-based meatballs market growth to make it the third largest market among all other regions.

According to FMI, East Asia plant-based meatballs market is projected to exhibit significant growth during the forecast period.

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Category-wise Insights

Plant Based Chicken to Maintain the Lead

Plant based chicken is highly popular as it is safe to consume without any health risks. It also is tasty, which is why it is preferred by a big portion of consumers starting from kids to elderly ones. Due to having several health benefits such as maintaining the body cholesterol, blood pressure, decreasing the risk of cancer, heart diseases, and others while supplying the required protein, plant based chicken is hugely preferred around the globe.

According to FMI, plant based chicken will dominate other plant-based meatballs products throughout the forecast period.

Soy Based Protein to Gain Traction

Soy based protein products are low in saturated fat and naturally cholesterol free. Due to their cost effectiveness and abundance, soy based protein is the mostly preferred source for the plant-based meatballs products.

Having various health benefits such as improving cardio vascular health, controlling obesity, preventing certain types of cancer, and others, soy based protein are hugely preferred in various plant-based meatballs products manufacturing.

According to FMI, soy based protein is expected to lead the source-wise segments in the coming years.

HoReCa to Emerge as Dominant

With the rising demand for plant-based diet, food service sectors are getting more inclined to opt for plant-based meatballs products. As plant-based meatballs products meet the requirements from wide range of consumers from both health and taste perspectives, they are getting highly popular across the food service sectors.

According to FMI, food service sector is expected to remain in the dominant position among all other distribution channels.

Competitive Landscape

As the global plant-based meatballs market is growing steadily, the key market players such as Ikea, Subway, Beyond Meat, and others are focusing on launching a wide varieties of products  to meet the huge consumers’ requirements.

For instance, Ikea has launched their exclusive IKEA Meatball enriched with high protein and taste while having only 4% of the climate footprint.

Kellogg’s has launched their new INCOGMEATO™ Plant-Based Ground Package manufactured with 100% plant protein from plant-based ground with 48% less saturated fat. The company has also released their MorningStar Farms ® Meatballs which is easily upgradable to any traditional sandwiches or dishes.

Recently Subway has collaborated with Beyond Meat in order to provide more efficient products and services to their customers. They have come up with their new Subway Beyond Meatball Marinara Sub which includes meatballs designed by joint efforts of Beyond Meat and Subway.

Hydrosol has launched their wide varieties of meatballs products such as cooked sausage, bratwurst, cold cuts, fat emulsions, raw sausage, cooked ham, and others.

Some of the key market players are-

  • Beyond Meat
  • Kellogg’s
  • Sysco Foodie
  • GCL Food Ingredients
  • Ikea
  • Mycorena AB
  • Subway
  • Zhenmeat
  • Schouten Food
  • Hydrosol
  • Gardein

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Plant-Based Meatballs Market Report: Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

USD Million for value and volume (per tons)

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa

 

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa

Key Segments Covered

Product Type, Source, Distribution Channel, and Region

Key Companies Profiled

  • Beyond Meat
  • Kellogg’s
  • Sysco Foodie
  • GCL Food Ingredients
  • Ikea
  • Mycorena AB
  • Subway
  • Zhenmeat
  • Schouten Food
  • Hydrosol
  • Gardein

                                                                     

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered by the Report

  • At what CAGR is the plant-based meatballs market expected to grow?

    According to Future Market Insights (FMI), the plant-based meatballs market is anticipated to grow by 23% CAGR during the forecast period from year 2020 to 2030.

  • Which is the largest market for plant-based meatballs?

    At present, region-wise Europe is the largest market followed by North America and East Asia.

  • Which are the top companies in plant-based meatballs market?

    Some of the top companies in global plant-based meatballs market are Subway, Beyond Meat, Hydrosol, Gardein, and others.

  • Which is the most lucrative category of plant-based meatballs?

    Presently, plant based chicken segment is the most lucrative segment by product type of the plant-based meatballs market and anticipated to maintain the lead throughout the forecast period.

  • Which source is most preferred for deriving plant-based meatballs?

    Soy-based protein is the most lucrative segment in source type segments in the global plant-based meatballs market.

  • Which is the preferred distribution channels in plant-based meatballs market?

    HoReCA (food service sector) is the most lucrative segment in distribution channel type segments in the global plant-based meatballs market.

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample and it will be sent to you through an email.

  • How can I buy this report?

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Key Segments

Product Type

  • Plant Based Chicken
  • Plant Based Beef
  • Plant Based Pork

Source

  • Soy-Based Protein
  • Wheat-Based Protein
  • Pea-Based Protein
  • Canola-Based Protein
  • Fava-Bean Based Protein
  • Potato-Based Protein
  • Rice-Based Protein
  • Lentil-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 Sector)

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Middle East and Africa
  • Japan

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