Selbyville, Delaware, Feb. 16, 2021 (GLOBE NEWSWIRE) — According to seasoned analysts, global plant based sausages market size was valued at USD 1.94 billion in 2019 and to reach USD 5.53 billion with a CAGR of 14% between 2020 and 2027. Improving cognizance regarding animal welfare, coupled with shifting preference towards adopting healthy and vegan diet are the primary growth stimulants for the market.
The document also analyzes every segment of the market, highlighting their respective impact on the overall industry outlook. Additionally, it not only scrutinizes the impact of COVID-19, but also elaborates on the competitive arena of this business space, further ensuring high quality decision making during investment assessment.
For those unaware, plant-based sausages are known to be vegan and gelatin-free. Thus, rising awareness regarding environment conservation and increasing popularity of organic food products are paving the way towards the growth of global plant based sausages industry.
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According to Food and Agriculture Organization, worldwide meat production is witnessing a considerable decline since most of the population are lately inclined towards consuming plant-based products. Total meat production reached 337.3 million tons in November 2020, which is a 0.5% decline as compared to the previous year.
Thus, plummeting meat production, and growing demand for vegan food are positively influencing global plant based sausages industry dynamics. On the contrary, high costs associated with plant-based sausages as compared to conventional meat products could hamper the industry remuneration in the upcoming years.
Impact of COVID-19 pandemic
The outbreak of COVID-19 has also compelled consumers to opt for vegan diet owing to rising concerns regarding the spread of the disease through animal-based products, which in turn is favoring the overall market scenario.
Summarizing the market segmentations
Global plant based sausages industry is segmented on the basis of product type, source type, distribution channel, and regional scope. Speaking of the product varieties, the market is divided into plant-based pork, plant-based beef, and plant-based chicken.
Moving on to source type, the industry is fragmented into canola-based protein, pea-based protein, soy-based protein, and wheat-based protein. The distribution channels comprise of retail, hypermarkets/supermarkets, online retail, convenience stores, and specialty food stores.
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Highlighting the geographical reach
The regional landscape of the worldwide plant based sausages market covers Latin America, North America, Asia-Pacific, Europe, and the rest of the world. Among these, analysts claim that Europe currently accounts for the largest market share and is likely to display similar growth trends in the ensuing years. Factors such as collective inclination towards vegan products and rising concerns regarding animal wellfare are favoring the regional market scenario.
Meanwhile, North America is touted to develop as a key revenue generator for the overall market by 2027, owing to high cognizance regarding vegan products.
Global Plant based Sausages Market Product Varieties (Revenue, USD Billion, 2017-2027)
- Plant-based Pork
- Plant-based Beef
- Plant-based Chicken
Global Plant based Sausages Market by Source Ambit (Revenue, USD Billion, 2017-2027)
- Canola-based Protein
- Pea-based Protein
- Wheat-based Protein
- Soy-based Protein
Global Plant based Sausages Market by Distribution Channel (Revenue, USD Billion, 2017-2027)
- Online Retail
- Specialty Food Stores
- Convenience Stores
- Hypermarkets/Supermarkets
- Retail
Global Plant based Sausages Market Regional Analysis (Revenue, USD Billion, 2017-2027)
North America
Latin America
Asia-Pacific
- South Korea
- Australia
- Japan
- China
- India
- Rest of Asia-Pacific
Europe
- Spain
- Italy
- Germany
- United Kingdom
- France
- Rest of Europe
Rest of the World
Global Plant based Sausages Market Competitive Dynamics (Revenue, USD Billion, 2017-2027)
- The Vegetarian Butcher
- Nestlé S.A.
- Meatless Farm Co.
- Moving Mountains
- Beyond Meat Inc.
- Lightlife Foods Inc.
- Field Roast Grain Meat Co. Inc.
- Tofurky
- Amy’s Kitchen Inc.
- Just Wholefoods
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Plant based sausages Market, by Region, 2018-2027 (USD Billion)
1.2.2. Plant based sausages Market, by Product type, 2018-2027 (USD Billion)
1.2.3. Plant based sausages Market, by Source, 2018-2027 (USD Billion)
1.2.4. Plant based sausages Market, by Distribution channel, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Plant based sausages Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Plant based sausages Market Dynamics
3.1. Plant based sausages Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Plant based sausages Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Plant based sausages Market, by Product type
5.1. Market Snapshot
5.2. Global Plant based sausages Market by Product type, Performance – Potential Analysis
5.3. Global Plant based sausages Market Estimates & Forecasts by Product type 2017-2027 (USD Billion)
5.4. Plant based sausages Market, Sub Segment Analysis
5.4.1. Plant-based Chicken
5.4.2. Plant-based Beef
5.4.3. Plant-based Pork
Chapter 6. Global Plant based sausages Market, by Source
6.1. Market Snapshot
6.2. Global Plant based sausages Market by Source, Performance – Potential Analysis
6.3. Global Plant based sausages Market Estimates & Forecasts by Source 2017-2027 (USD Billion)
6.4. Plant based sausages Market, Sub Segment Analysis
6.4.1. Soy-based Protein
6.4.2. Wheat-based Protein
6.4.3. Pea-based Protein
6.4.4. Canola-based Protein
6.4.5. others
Chapter 7. Global Plant based sausages Market, by Distribution channel
7.1. Market Snapshot
7.2. Global Plant based sausages Market by Distribution channel, Performance – Potential Analysis
7.3. Global Plant based sausages Market Estimates & Forecasts by Distribution channel 2017-2027 (USD Billion)
7.4. Plant based sausages Market, Sub Segment Analysis
7.4.1. Retail
7.4.2. Hypermarkets/Supermarkets
7.4.3. Convenience Stores
7.4.4. Specialty Food Stores
7.4.5. Online Retail
Chapter 8. Global Plant based sausages Market, Regional Analysis
Related Report:
U.S. Plant-Based Meat Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
The U.S. plant-based meat market is anticipated to grow substantially over the forthcoming time period owing to a consumer shift towards healthy lifestyle options due to the prevalence of medical conditions caused by excessive consumption of meat. Plant-based meat is basically meat that is made from plants. These can be in the form of sausages, nuggets, burger patty, or crumbles, and are now considered a popular choice among individuals as a healthier meat alternative. Based on demographics, the market is categorized into millennials, gen Z, gen X, baby boomers, and others. Others demographic segment includes silent generation and greatest generation. This segment will register over 20% gains over the forecast timeframe.
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