Plant-Based Burgers Market to Grow with a CAGR of 10.4% Globally through to 2028

Rising consumer awareness of the environmental and health impacts of meat consumption, Increasing demand for plant-based alternatives to meat products are factors driving the global plant-based burgers market in the forecast period 2024-2028.

 

According to TechSci Research report, “Global Plant-Based Burgers Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Plant-Based Burgers Market stood at USD 4.8 billion in 2022 and is anticipated to grow with a CAGR of 10.4% in the forecast period, 2024-2028. The plant-based burgers market has witnessed remarkable growth in recent years, propelled by a combination of factors that reflect changing consumer preferences, environmental awareness, and advancements in food technology. These drivers have reshaped the global food industry, as more consumers seek sustainable and healthier alternatives to traditional meat burgers.

One of the primary drivers behind the plant-based burgers market is the growing awareness of health and wellness among consumers. Individuals are becoming more conscious of their dietary choices, seeking alternatives that align with their desire for nutritious and balanced diets. Plant-based burgers, positioned as healthier options due to lower levels of saturated fats and cholesterol, have gained popularity among health-conscious consumers.

 

Browse over 26 market data Figures spread through 183 Pages and an in-depth TOC on "Global Plant-Based Burgers Market”

 

Plant-based burgers offer a range of nutritional benefits that contribute to their appeal. These alternatives often contain lower levels of saturated fats and cholesterol compared to traditional beef burgers. Additionally, they are rich in plant-based proteins, fiber, and various vitamins and minerals. The inclusion of diverse ingredients such as legumes, grains, and vegetables enhances the nutritional profile of plant-based burgers, making them an attractive option for consumers seeking both flavor and nutritional value. A significant driver in the plant-based burgers market is the comparison between plant-based and traditional meat burgers. As consumers become more informed about the health implications of consuming red meat, they are actively seeking alternatives. Plant-based burgers are positioned as a healthier option, appealing to individuals looking to reduce their intake of saturated fats and cholesterol. This comparison is not only influencing consumer choices but also driving the formulation of plant-based burgers to closely replicate the taste and texture of traditional meat.

The increasing emphasis on dietary choices as a critical component of overall well-being is a key driver in the plant-based burgers market. Consumers are recognizing the impact of their food choices on various aspects of health, from cardiovascular health to weight management. Plant-based diets, including plant-based burgers, are perceived as a proactive approach to achieving a healthier lifestyle. This driver reflects a broader cultural shift towards holistic well-being and preventive healthcare, positioning plant-based options as integral to a balanced and health-conscious diet. Plant-based burgers are often celebrated for their significantly lower carbon footprint compared to traditional meat burgers. The production of plant-based ingredients generally requires less land, water, and energy, contributing to a more sustainable food system. Life cycle assessments and environmental impact studies highlight the eco-friendly attributes of plant-based burgers, influencing environmentally conscious consumers to make the switch. This driver underscores the role of plant-based options in mitigating the environmental challenges associated with conventional meat production.

The Global Plant-Based Burgers Market is segmented into type, source, distribution channel, regional distribution, and company.

Based on type, the market is segmented into frozen and refrigerated, among which the plant-based burger market frozen product segment dominated with major share in 2022. Frozen plant-based burgers offer convenience and an extended shelf life, making them a popular choice for consumers looking for quick and easy meal solutions

Based on region, North America emerged as the dominant player in the global plant based burgers market in 2022, holding the largest market share. This dominance can be attributed to several factors that have contributed to the rapid growth and popularity of plant-based burgers in the region. North America's dominance in the plant-based burger market is the result of a combination of factors, including rising consumer awareness, innovation in product development, strong retail presence, growing flexitarianism, and a supportive regulatory environment.

 

Major companies operating in Global Plant-Based Burgers Market are:

• Beyond Meat
• Impossible Foods
• Nestle (Awesome Burger)
• MorningStar Farms
• Gardein
• Lightlife
• Dr. Praeger's
• Tofurky
• Amy's Kitchen
• Field Roast

 

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“The plant-based burgers market has experienced unprecedented growth, driven by a confluence of factors. Rising health consciousness, environmental sustainability concerns, and advancements in food technology have propelled plant-based burgers into mainstream popularity. Consumer demand for nutritious and eco-friendly alternatives to traditional meat has surged, leading to a diverse range of innovative plant-based offerings. Major food industry players and startups alike are investing heavily in research and development, contributing to the expansion of product portfolios. With increasing accessibility, partnerships with mainstream retailers, and a global shift toward plant-based lifestyles, the market's growth trajectory continues to be robust.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Plant-Based Burgers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Frozen, Refrigerated), By Source (Soy-Based, Mushroom-Based, Lentil-Based, Chickpea-Based, Black Bean-Based, Others), By Distribution Channel (HoReCa, Online, Convenience Stores, Supermarkets/Hypermarkets, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Plant-Based Burgers Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Plant-Based Burgers Market.

 

 

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