As of February 21, 2021, Beyond Meat was the leading company producing alternative protein products, such as plant-based meat, with an estimated market value of nine billion U.S. dollars. The company offers burger patties (among other products) that are intended to replace meat patties. Impossible Foods, which ranks second, is a direct competitor on this market.
Plant-based meat market worldwide
Plant-based meat alternatives are food products made from vegetarian or vegan sources, such as soy, vegetables, seitan, tempeh, or pea proteins. Plant-based meat products are becoming increasingly popular in many countries. In 2020, the market value of plant-based meat worldwide was estimated to be worth approximately 6.7 billion U.S. dollars. The market is forecast to grow steadily during the next few years and reach about 16.7 billion in 2026. Geographically, the region with the largest market share in the plant-based meat market is North America, with a share of approximately 44 percent. The region with the second largest market share is Europe, with approximately 34 percent. The other regions each make up no more than four percent of the global market.
Consumption of plant-based meat alternatives in the U.S.
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Proterra Investment Partners. (March 16, 2021). Estimated worldwide market value of the leading alternative protein companies as of February 2021 (in million U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/
Proterra Investment Partners. "Estimated worldwide market value of the leading alternative protein companies as of February 2021 (in million U.S. dollars)." Chart. March 16, 2021. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/
Proterra Investment Partners. (2021). Estimated worldwide market value of the leading alternative protein companies as of February 2021 (in million U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/
Proterra Investment Partners. "Estimated Worldwide Market Value of The Leading Alternative Protein Companies as of February 2021 (in Million U.S. Dollars)." Statista, Statista Inc., 16 Mar 2021, https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/
Proterra Investment Partners, Estimated worldwide market value of the leading alternative protein companies as of February 2021 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/ (last visited September 01, 2024)
Estimated worldwide market value of the leading alternative protein companies as of February 2021 (in million U.S. dollars) [Graph], Proterra Investment Partners, March 16, 2021. [Online]. Available: https://www.statista.com/statistics/1258359/alternative-protein-companies-global-market-value/