Plant-based Chicken Market is Projected to Expand Due to Consumer Inclined Towards Veganism for Moral and Health Reasons. FMI Estimated a CAGR of 18.4% by 2023 to 2033

NEWARK, DE / ACCESSWIRE / March 15, 2023 / The Plant-based Chicken Market is expected to surpass US$ 12,601.0 million by 2033The world's increased protein intake is the primary driver of the worldwide plant-based chicken business. Owing to the increased protein consumption, producers are more likely to offer consumers a selection of novel plant-based chicken products as an alternative to actual chicken. Plant-based chicken is gaining popularity since it tastes and looks like chicken pieces, nuggets, and steaks.

Several government restrictions prohibiting animal slaughter in various nations are assisting the global market's growth. The global market for plant-based chickens is advancing due to increased concern over maintaining the ecosystem's equilibrium. Rising per capita and disposable income in developing countries is likely to promote global market growth.

Increasing affluence leads to a better quality of life, and in emerging countries, a high level of living has boosted the market consumption of plant-based chicken. As people's health knowledge grows, consumer tastes are shifting away from animal products and towards organic products.

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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.

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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)

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Table of Content

1. Executive Summary | Plant-based Chicken Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

Explore FMI's Extensive Coverage in Food & Beverage Domain:

Plant-Based Beef Market Size: The market is estimated to be valued at USD 4.1 billion in 2023 and is projected to reach USD 26.9 billion by 2033, recording a CAGR of 20.6%, in terms of value.

Plant-based Hot Dogs Market Share: The global plant-based hot dogs market is expected to reach a market valuation of US$ 828.90 million by the year 2033

Europe Plant-Based Meal Kit Market Demand: The market size is projected to increase from US$ 1,067.0 million in 2023 to US$ 2,789.0 million by 2033. In 2022, plant-based meat kit sales across Europe totalled revenue of US$ 923 million.

Plant-Based Fish Market Forecast: The Plant-based Fish Market is expected to increase at a 5.8% CAGR from 2023 to 2033, from US$ 804.6 million in 2023 to US$ 1,271.2 million by 2033.

Plant-based Tuna Market Growth: According to Future Market Insights (FMI), the plant-based tuna market will exhibit 17.9% CAGR between 2020 and 2030.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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