In 2022, the market value of plant based-meat worldwide was estimated to be worth 10.11 billion U.S. dollars. This figure is estimated to steadily increase over the next few years and reach roughly 33.99 billion in 2027.
Plant-based meat refers to products that are designed to be like meat in taste, texture, smell, and appearance. Such products can be in the form of burgers, ground meat, sausages, nuggets, or seafood. Plant-based meat products are becoming increasingly popular. In the United States, for example, retail sales of plant-based meat have grown by 45 percent in 2020. The most frequently purchased plant-based meat product in the United States are traditional veggie burgers and beef style alternatives. Fish or seafood, and pork alternatives are purchased the least.
Data provided by Statista Market Outlooks are estimates
The Meat Substitutes segment covers all types of meat-like products that approximate certain aesthetic qualities (primarily texture, flavor, and appearance) or chemical characteristics of a specific meat. The Meat Substitutes segment includes plant-based meat and vegetarian meat. Plant-based meat includes meat made from plants, such as soybeans (and other legumes), wheat gluten, lentils, tofu, yuba, tempeh, and a variety of nuts. Vegetarian meat contains non-vegan ingredients, such as egg and dairy. Examples of meat substitutes included in this segments are plant-based and vegetarian meat in the form of nuggets, minced meat, burger patties, sausages, and the like.
All figures are estimate. A detailed methodology can be found in the Statista Market Outlook.
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Statista. (December 5, 2022). Market revenue of plant-based meat worldwide from 2016 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 30, 2023, from https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value
Statista. "Market revenue of plant-based meat worldwide from 2016 to 2027 (in billion U.S. dollars)." Chart. December 5, 2022. Statista. Accessed November 30, 2023. https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value
Statista. (2022). Market revenue of plant-based meat worldwide from 2016 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 30, 2023. https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value
Statista. "Market Revenue of Plant-based Meat Worldwide from 2016 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Dec 2022, https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value
Statista, Market revenue of plant-based meat worldwide from 2016 to 2027 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value (last visited November 30, 2023)
Market revenue of plant-based meat worldwide from 2016 to 2027 (in billion U.S. dollars) [Graph], Statista, December 5, 2022. [Online]. Available: https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value