The North America plant-based meat products market is expected to grow from US$ 1,759.28 million in 2021 to US$ 4,983.13 million by 2028; it is estimated to grow at a CAGR of 16.0% from 2021 to 2028. Over the past few years, awareness regarding environmental sustainability among people has increased significantly. Climate change has affected the earth's natural ecosystems and poses a significant threat to the present and future generations' well-being. Population growth and urbanization in North America are among the primary causes of natural resource depletion, including water, fossil fuels, and land, contributing to global warming. People are heavily reliant on animal sources to meet their nutritional requirements. This factor exerts high pressure on the livestock industry. The livestock industry is one of the key contributors to anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the worldwide livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. According to industry experts, livestock production emits more carbon dioxide than the whole transportation industry combined.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America plant-based meat products market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
North America Plant-based Meat Products Market Segmentation
The North America plant-based meat products market is segmented on the basis of type, category, distribution channel, and country. Based on type, the market is segmented into patties, nuggets, meatballs, sausages, and others. The patties segment dominated the market in 2020. Based on category, the North America plant-based meat products market is segmented into frozen, refrigerated, and ambient. The frozen segment dominated the market in 2020. Based on distribution channel, the North America plant-based meat products market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2020. Based on country, the North America plant-based meat products market is segmented into the US, Canada, and Mexico. The US dominated the market in 2020.
Beyond Meat; Conagra Brands, Inc.; Kellogg’s Company; Tofurky; Field Roast; Before the butcher; VBites Foods Ltd; Hilary’s – Drink Eat Well, LLC; Quorn; and Impossible Foods Inc. by Altair are among the leading companies in the North America plant-based meat products market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,759.28 Million |
| Market Size by 2028 | US$ 4,983.13 Million |
| CAGR (2021 - 2028) | 16.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Plant-Based Meat Products Market is valued at US$ 1,759.28 Million in 2021, it is projected to reach US$ 4,983.13 Million by 2028.
As per our report North America Plant-Based Meat Products Market, the market size is valued at US$ 1,759.28 Million in 2021, projecting it to reach US$ 4,983.13 Million by 2028. This translates to a CAGR of approximately 16.0% during the forecast period.
The North America Plant-Based Meat Products Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Plant-Based Meat Products Market report:
The North America Plant-Based Meat Products Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Plant-Based Meat Products Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Plant-Based Meat Products Market value chain can benefit from the information contained in a comprehensive market report.
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