Plant-based Meat Market Global Trends, and Opportunities Forecast by 2031
Plant-based meat MarketScope & Overview
The market research report assists firms in improving their business goals by allowing them to develop a systematic presence in the globalPlant-based meat Market. It also helps them plan for and forecast their chances of success in a competitive environment. The research investigates the vital sectors and underlying potential in certain industries, as well as the market's problems and international trends.
The research report goes over regional market growth aspects as well as key companies that dominate regional growth. It also stays current on industry developments and advancements. The research looks into the demand and supply side factors that influence the Plant-based meat market, as well as major industry trends in the coming years.
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Market Key Players:
Amy’s Kitchen, Beyond Meat, Garden Protein International, Gold & Green Foods, Greenwise, Impossible Foods, Maple Leaf Foods, Morningstar Farms, Novameat, Omnipork, Quorn Foods, Surfed, The Vegetarian Butcher, Tofurky, V2food, VBites, and Zikooin.
Market Segmentation Analysis
A current market research provides an in-depth analysis of the most essential industry variables. The market's growth possibilities are obtained with utmost precision after completing extensive research on the historical and present growth characteristics of the Plant-based meat market. It investigates and forecasts the worldwide market in a number of key areas. By segmenting the market by application, end-user, and geography, the report provides a comprehensive view of the industry.
By Source:
Soy
Pea
Wheat
By Product:
Burgers
Sausages
Patties
Nuggets, Tenders & Cutlets
Grounds
By Type:
Chicken
Pork
Beef
Fish
By End-user:
Retail
HORECA (Hotel/Restaurant/Café)
By Storage:
Refrigerated Plant-based Meat
Frozen Plant-based Meat
Shelf-stable Plant-based Meat
Russia-Ukraine Conflict Impact Analysis
The market research report explores whether the ongoing war between Russia and Ukraine has had any discernible impact on the worldwide Plant-based meat market, as well as the specifics of the impact made in several global regional markets.
Regional Outlook
After considering political, economic, social, and technological variables affecting the Plant-based meat market in all regions, the research offers a complete PEST analysis for all regions, including North America, Europe, APAC, Latin America, and the Middle East and Africa. Readers can get thorough information about numerous elements influencing market growth, such as pricing analyses and regional trends.
Competitive Analysis
The market research report discusses key advancements in the industry as well as organic and inorganic growth strategies. This section discusses the macroeconomic variables influencing the growth of the Plant-based meat market, as well as the influence of these macroeconomic indicators on the market.
Key Reasons to Purchase Plant-based meatMarket Report
The market executive summary contains the market's own wheel of fortune, demand-side and supply-side trends, potential evaluation, and global market recommendations.
Readers can find extensive market segmentation and definitions, which will help them comprehend fundamental information about the market.
Conclusion
The Plant-based meat market report discusses the factors influencing the growth of the market. The opportunities and current trends in the target market are also thoroughly addressed in the research report.
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Russian companies are producing meat and milk substitutes and other alternative products
Producers of sausages and other plant-based premade and deli products speak out.
According to NielsenIQ, by 2030, the Russian plant-based food market will increase fivefold, and the total turnover will amount to 50-100 billion rubles. While the Russian Association of Plant-Based Food Producers is puzzling about how to help the industry in the coming years, we decided to talk to those who live and breathe it right now.
co-founder of Greenwise, a producer of plant-based food
How it all started
My father has worked in the food industry for over 30 years. He was the first to bring soy protein concentrates, which are used to replace animal proteins in products, from the US. Partner-M, a company founded by my father, is still in the business of processing plant-based raw materials.
Working for the company, I mostly dealt with legal issues but was also involved in analyzing production and market conditions. Six years ago, together with the marketing director, I went to the Netherlands to study. We were surprised and inspired by the eco-friendly approach both to food and life. We decided to launch the production of Russian plant-based products that any person can include in their diet.
We founded Greenwise company, where I, among other things, was engaged in developing formulations. Since Partner-M is a family business, I had access to the plant and raw materials. However, I still lacked knowledge about the food industry in the beginning. So I spent a lot of time learning all the subtleties and talking a lot to employees at production sites.
The first product I developed and launched was plant-based jerky. My friends and the specialists working for my father’s company tried it. They liked the product, so we decided to roll it out.
We carried out the first business analysis after going on a trip to Frankfurt to attend the Health Ingredients Expo. We did not even have a stand, we came only with suitcases full of samples of our jerky that we offered to other exhibitors. We came across the stand of ProVega, an international food tech accelerator from Germany.
ProVega’s director was surprised that Russians came with anything other than IT or defense technology. When we took out the samples, he said: ‘Cool, I am just about to have lunch!’ He poured jerky into the salad and asked us to tell him about ourselves. When he finished, he invited us to Berlin to take part in the accelerator program.
Now Greenwise products are available in more than 2,500 stores of VkusVill, Perekrestok, Azbuka Vkusa and other chains. We export products to Kazakhstan, Belarus, Armenia, Georgia, Japan, Australia, USA, Israel, Turkey, UAE and Saudi Arabia. We are going to develop and expand our product range.
Who is our customer
At first, our main target audience were flexitarians who prefer plant-based foods, but also eat meat and fish. Right now, we focus on anyone who wants a plant-based product without the label screaming ‘vegan’. We have the widest possible price range offering both expensive and affordable products.
What we offer is a new food category in its own right – like tofu or seitan – so our product is not just a meat alternative.
We work in several areas: we produce and sell ingredients for plant-based products, frozen and chilled semi-finished products: fillets ‘instead of chicken’ and ‘instead of beef’, plant-based minced meat, canned food and jerky.
As part of a partnership program with Yandex Eats, we also develop supplies to restaurants, mostly to non-vegetarian ones. We offer ready-made meals: rolls, shawarma, sandwiches, burgers, soups, mashed potatoes with patties made of plant-based meat. The company has launched Lenten, New Year and Summer lines.
About ten years ago it was hard to imagine that there would be soy, oat, almond and other plant milk on the shelves of supermarkets and in almost all coffee shops. They did not replace animal proteins, but consumers got a choice. It should be the same with meat alternatives, so we are trying to move away from the concept of comparing plant and animal.
Is it worth entering the market?
A good question. On the one hand, you can open a small company. For example, we can share our formulations for free with manufacturers who buy our ingredients and spices. Our raw materials are not as expensive as in the meat processing industry, since growing requirements are less demanding.
But the most important thing is to understand customers’ needs. For example, in Russia a plant-based kebab or barbecue sausages will do really well in the summer. But, of course, you need to think about what you will do next.
How the Russian market develops
The projects taking part in the acceleration program in Germany are 3–5 times ahead of the Russian ones in terms of demand and sales. Europe already has a ready legislative environment and a target audience.
We are trying to work through these issues, so we have established the Association of Alternative Food Products Producers bringing together all Russian market players. Together with our colleagues from Gorbatov Federal Research Center for Food Systems, we are developing national standards and have launched a working group at Rosstandart to form a correct naming procedure.
For example, we are trying to provide a framework for what can be called vegan products and what can be called vegetarian. We are holding events; we have launched a project with Samokat delivering service to test the sale of more than 40 products in various categories.
We would like the alternative food market to develop faster, and we need competent specialists. Therefore, in collaboration with ITMO University, we have developed the first educational program in Russia covering the plant-based food technology.
Director and co-founder of Ne Myaso (Not Meat) brand at Tashir Food
How it all started
Tashir Group, which I work for, comprises many companies associated with commercial real estate, manufacturing, restaurant and hotel business. In 2019, Tashir Food company specializing in developing environmentally friendly and healthy food was started. Upon studying the market, I realized that Russia is about five years behind global trends and would definitely catch up with other countries in the near future to become one of the market leaders.
For months I’ve been telling my colleagues that we needed to focus on plant-based products, but many of them did not understand the word ‘vegan’ at all. However, using figures and examples of other companies, I still managed to convince my partners to support the idea. This is how our company developed Ne Myaso, a line of plant-based products.
The innovative plant-based meats we make are not ‘vegan meat’, not flavored soy and not ‘pea and beet patties’. The idea is to make a convincing meat alternative. Textured soy protein and soy patties only vaguely resemble meat and can never be a real replacement for it. This product is essentially flavored soy flour.
Unlike ‘soy meat’, which is too different from real meat, innovative plant-based products are meant to recreate the amino acid and mineral profile of meat, and then achieve the desired structure, flavor and color.
Plant-based foods are not just a trend. This is a business featuring a distinct social infrastructure, a part of a specific agenda just like the ESG index. The industry offers many ideas that help make the world a better place.
Who is our customer
Women aged 25–35. They are not vegans but rather flexitarians.
Our customers are people who do not want to cut costs on food quality. The quality of the ingredients is important for them, and despite the high quality of our ingredients, our prices are still affordable. Consumers are ready to pay 500 rubles and more for our products, because they know we offer great value for money.
Is it worth entering the market?
Producing innovative plant-based products in Russia is a challenge. Sales throughout the year are unstable with a fall in summer and a rise in winter. This is something we cannot yet explain. Perhaps, the reason for the increase in sales in winter is Lent.
In the summer, people go to their summer cottages and switch to eating their home-grown vegetables, but these are just assumptions so far. In general, sales are growing year by year with a turnover of more than 25%.
However, in my opinion, the plant-based meat industry in Russia is not a good place for startups. It has to be a thought-out business within large companies and holdings. Greenwise boasts a plant-based protein producer Partner-M.
It is practically the only company in Russia to produce plant-based protein and make alternative meat from it. Tashir Food is a company within a large holding with different production facilities, so we, as a verified business, have more opportunities. For example, we can use the equipment of meat processing plants.
More importantly, any food project needs highly qualified technologists: to sell a plant-based product, you need to make it right. Customers read ingredient lists and want to see it clean, without ‘E number’ additives.
Making a flow process chart is not easy. Any mistake can cause the product to separate or layer. People will mention it giving their feedback. This can instantly affect reputation and sales.
Meat sausage is much easier to make than its plant-based alternative. There is no special equipment for plant-based products. Those are made using meat processing equipment, which is one of the most expensive. To build a production facility, we need to spend about 200–300 million rubles on equipment alone. This is a fairly large investment for a startup.
Our main competitor is meat – not other plant-based food companies.
Now we are building a new production facility at Podolsk-based food cluster. Our goal is to capture at least 10% of the market and sales in the meat category. This will prove the success of plant-based alternatives in the Russian food industry. I hope we will succeed.
General Director of Vyshy Vkus
How it all started
In the 2000s, vegetarian cafes and alternative foods began to appear in large Russian cities. But as supporters of a healthy lifestyle and plant-based diet, we were not very satisfied with them: taste and texture just weren’t the same. So we decided to start our own production.
We had some experience in the food industry albeit in the restaurant business. But still, it was food-related. We built a team and rented Solnechny Agricultural Complex in Krasnodar Territory featuring greenhouse and unleavened bread production facilities. We started making the first wheat protein products.
People need the food they are used to. In order to switch to a plant-based diet, there should be ‘soft’ alternatives that have the flavor of familiar foods.
First, we introduced our ideas into our own vegetarian cafes and restaurants. Then, we founded Vyshy Vkus company to launch mass production.
Now many meat processing plants are starting to produce plant-based products. For vegetarians and vegans, this approach may be unethical. If a customer follows a plant-based diet and does not want to touch meat either physically or ‘energetically’, then they simply choose other products.
How the Russian market is changing
Russia has no national standards for a plant-based diet yet. This has its advantages: we do not need to meet any requirements and can easily promote plant-based products.
Fifteen years ago, the word ‘vegetarian’ sounded like ‘alien’ to many people. Now vegetarianism is much more common.
We often visit international exhibitions, analyze markets of other countries and are happy to note that open-mindedness in this area is gaining momentum. If a person eats meat, this does not mean that they will not be curious about alternative foods. Conversely, a vegetarian will not argue with meat-eaters or try to convince them.
Russia is about five years behind Europe and the USA in the development of alternative products. But there is some progress: according to our analysts, sales of vegan products in the Russian market grow by 27–36% per year. However, the situation worsened after February 2022.
Is it worth entering the market?
It is quite difficult to make money in this market in Russia. The higher the production, the higher the profitability. The more plant-based products are produced, the cheaper they will be. However, few companies can provide strong output.
Those who want to launch their own production of plant-based products should make sure that this area suits them in terms of life philosophy. I would not recommend that someone go into this business to make money. If your values are more important to you than huge profit, then you are welcome to do as you please.
Large meat processing companies are now entering the plant-based sector. Still, the market is small: only 1.5% of Russians are vegetarians. Therefore, this business is easier for those who combine two types of production. But I believe that we should call a spade a spade, and not deceive consumers telling stories about ‘a bright future without meat and cruelty.
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