Vegan Meat Market (2025-2032)
The Vegan Meat Market is expected to reach $25.51 billion by 2032, at a CAGR of 13.8% from 2025 to 2032.
- Published
- Jun 2024
- Pages
- 240
- Format
- PDF + Excel
- Report ID
- MRFB - 1041262
- Base year
- 2024
- 2032 · FORECAST
- $25.51B
- 2032
- $25.51B
- CAGR 2025–2032
- 13.8%
2024 baseline · 2025–2032 forecast at 13.8% CAGR · hover a bar for the value
Key highlights
By Product: In 2025, the Burger Patties Segment to Dominate the Vegan Meat Market
By Source: In 2025, the Soy Segment to Dominate the Vegan Meat Market
By Meat Type: In 2025, the Chicken Segment to Dominate the Vegan Meat Market
By Storage Category: In 2025, the Frozen Segment to Dominate the Vegan Meat Market
By Distribution Channel: in 2025, the Business-to-Consumers (B2C) Segment to Dominate the Vegan Meat Market
In 2025, the Asia-Pacific is Expected to Dominate the Vegan Meat Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 240 |
| Format | |
| Forecast Period | 2025–2032 |
| Base Year | 2024 |
| CAGR (Value) | 13.8% |
| Market Size (Value) | $25.51 Billion by 2032 |
| Segments Covered | By Product · Burger Patties · Strips & Nuggets · Meat Balls · Sausages · Ground Meat · Other Products · By Source · Soy · Wheat · Pea · Other Sources · By Meat Type · Chicken · Beef · Pork · Fish · Other Meat Types · By Storage Category · Frozen · Refrigerated · Shelf-stable · By Distribution Channel · Business-to-Business (B2B) · Business-to-Consumers (B2C) · Modern Groceries · Convenience Stores · Specialty Stores · Online Retail · Other B2C Distribution channels |
| Countries Covered | North America (U.S., Canada), Europe (U.K., Germany, France, Spain, Italy, Netherlands, Belgium, Austria, Poland, Portugal, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Thailand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, United Arab Emirates, and Rest of Middle East & Africa). |
| Key Companies | Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Unilever Plc (U.K.), Maple Leaf Foods Inc. (U.S.), Nestlé S.A. (Switzerland), Conagra Brands, Inc. (U.S.), Kellanova (U.S.), Marlow Foods Limited (U.K.), VBites Food Ltd (U.K.), The Tofurky Company (U.S.), The Kraft Heinz Company (U.S.), and No Evil Foods, Inc. (U.S.). |
Report overview
Segments covered: product, source, meat type, storage category, distribution channel. Regions: North America, Europe, Asia-Pacific, Latin America.
The growth of this market is driven by factors such as the increasing vegan population, rising preference for plant-based diets among consumers, and growing concerns about animal welfare. However, the high cost of vegan food and the high preference for animal-based products among a significant number of consumers may restrain market growth.
Furthermore, the rising adoption of vegan food in emerging economies and continuous product innovations are expected to create market growth opportunities. Additionally, the rising demand for sustainable foods and the rising focus on health & wellness are prominent trends in the vegan meat market.
Report infographic
Market dynamics
5 factors across 3 forcesIncreasing Vegan Population
In recent years, there has been a major shift toward veganism across the globe due to increasing health & environmental concerns and animal welfare. Many people are becoming more conscious of the health risks associated with consuming large amounts of animal protein and are seeking out plant-based alternatives. Veganism is a modern social trend that continues to expand, particularly in developed countries. As of 2024, the global vegan population numbered approximately 88 million, constituting around 1.1% of the world's population. Additionally, the Veganuary campaign saw significant participation, with approximately 700,000 individuals committing to vegan-only diets in January 2024. This represents a notable increase from previous years: 692,000 participants in 2022, 582,000 in 2021, and 400,000 in 2020 (source: The Vegan Society). The rising adoption of vegan lifestyles globally is expected to drive the demand for vegan meat.
Consumers’ Rising Preference for Plant-based Diets
Consumers today are increasingly gravitating towards plant-based foods due to their perceived health benefits, rising environmental concerns, and growing awareness of the negative impacts associated with animal products. Moreover, Plant-based products are now more accessible and affordable, facilitating easier adoption of a plant-based diet among consumers.
According to the Plant Based Foods Association and The Good Food Institute, retail sales of plant-based foods in the U.S. were valued at USD 8.1 billion in 2024. Moreover, projections suggest that by 2040, 66% of consumers aged 16–40 plan to increase their spending on plant-based meat and milk products. Additionally, many vegan meat products are designed to be convenient and quick to prepare, appealing to busy consumers seeking quick and hassle-free meal options. Therefore, the growing preference for plant-based diets is anticipated to drive the growth of the vegan meat market.
Table of contents
13 chapters · 129 sections · 240 pages · click to expandSegmental analysis
| Segment | Largest share (2025) | Fastest growth (2025–2032) |
|---|---|---|
| By Product | Burger Patties | Sausages |
| By Source | Soy | Pea |
| By Meat Type | Chicken | — |
| By Storage Category | Frozen | — |
| By Distribution Channel | Business-to-Consumers (B2C) | — |
By Product
- The Burger Patties Segment to Dominate the Vegan Meat Market
- The burger patties segment is expected to account for the largest share of 35.0% of the vegan meat market.
- This segment’s large market share can be attributed to the rising popularity of vegan burger patties, which offer a taste, texture, and aroma that mimics traditional meat.
- Burgers are a popular and convenient meal option and have become more accessible with the emergence of vegan fast-food chains like Impossible Foods and Beyond Meat.
- Moreover, vegan burgers are perceived as environmentally sustainable compared to traditional beef options, which drives their demand.
- However, the sausages segment is projected to register the highest CAGR during the forecast period of 2025–2032.
- The growth of this segment is driven by the benefits offered by vegan sausage, including high protein content and lower levels of saturated fat and cholesterol content compared to regular pork sausages, making them a safer alternative to processed animal meat.
- Furthermore, market players are launching various types of vegan sausages.
- In November 2022, Dhond Group Green Infra LLP (India) launched vegan sausages in two flavors: Hot & Spicy and American Herbs.
- These sausages are made from jackfruit, known for its meat-like texture and nutritional value.
By Source
- The Soy Segment to Dominate the Vegan Meat Market
- The soy segment is expected to account for the largest share of the vegan meat market.
- This segment’s large market share can be attributed to the extensive use of soy in vegan meat products, driven by its widespread availability as a raw material, its cost-effectiveness in production, and its popularity among consumers seeking vegan meat products that mimic the texture and taste of meat.
- However, the pea segment is projected to register the highest CAGR during the forecast period of 2025–2032.
- This segment’s growth is driven by the increasing adoption of pea protein among vegan meat manufacturers due to its high protein content.
- Furthermore, initiatives by leading manufacturers to expand pea protein production and the allergen-free, gluten-free, and lactose-free properties of pea protein enhance its appeal, driving the demand for pea-based meat products.
By Meat Type
- The Chicken Segment to Dominate the Vegan Meat Market
- The chicken segment is expected to account for the largest share of 34.3% of the vegan meat market.
- This segment’s large market share can be attributed to widespread consumer acceptance of chicken meat alternatives, the growing availability of various vegan chicken products, including nuggets, sausages, burgers, and cutlets, rising animal welfare concerns, and advancements in plant-based food production technology.
By Storage Category
- The Frozen Segment to Dominate the Vegan Meat Market
- The frozen segment is expected to account for the largest share of the vegan meat market.
- This segment’s large market share can be attributed to the longer shelf life of frozen vegan meat compared to other categories, the growing demand for convenience foods, and evolving consumer tastes and preferences.
By Distribution Channel
- The business-to-consumers (B2C) segment is sub-segmented into modern groceries, convenience stores, specialty stores, online retail, and other B2C distribution channels.
- The business-to-consumers (B2C) segment is expected to account for the larger share of the vegan meat market.
- This segment’s large market share can be attributed to the rising sales of plant-based foods in established supermarkets and hypermarket chains, coupled with increasing consumer expenditure on vegan food products.
- Moreover, the B2C segment is projected to register a higher CAGR during the forecast period.
- This segment’s growth is driven by the increased online sales of vegan meat and the rising awareness of vegan meat products in developing countries.
Geographic analysis
Asia-Pacific
Largest shareIn 2025, Asia-Pacific is expected to account for the largest share of 43.0% of the vegan meat market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's significant market share can be attributed to rising disposable incomes, changing lifestyles, rapid urbanization, growing emphasis on plant-based diets, and increasing governmental initiatives aimed at enhancing the food industry. Furthermore, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is driven by the increasing awareness about the importance of protein-rich diets, initiatives by major market players to expand their businesses in the region, the rising awareness about the risks associated with consuming contaminated meat products, and increasing investments in the plant-based food industry. In 2025, the Asia-Pacific is Expected to Dominate the Vegan Meat Market
Competitive landscape
- November 2024
UNLIMEAT Inc. (South Korea), a plant-based food producer, launched its online shop, UNLIMEAT SHOP, to offer its products to a wider consumer base.
- January 2024
Final Foods Inc. (U.S.) launched its first product line of plant-based, protein-rich, vegan meat alternative products for gourmet chefs and the food service industry.
- October 2022
Delightful Gourmet Pvt Ltd (India) launched the plant-based meat brand UnCrave in India.
- July 2022
Tata Consumer Products Limited (U.S.) launched a plant-based range under the new brand name “Tata Simply Better”. The plant-based meat variants include nuggets, burger patty, awadhi seekh kebab, and spicy fingers.
- Beyond Meat Inc. (U.S.)
- Impossible Foods Inc. (U.S.)
- Hain Celestial Group, Inc. (U.S.)
- Unilever Plc (U.K.)
- Maple Leaf Foods Inc. (U.S.)
- Nestlé S.A. · Switzerland
- Conagra Brands, Inc. (U.S.)
- Kellanova (U.S.)
- Marlow Foods Limited (U.K.)
- VBites Food Ltd (U.K.)
- Tofurky Company (U.S.)
- Kraft Heinz Company (U.S.)
- No Evil Foods, Inc. (U.S.)
Frequently asked questions
This study offers a comprehensive market assessment and valuable insights into the vegan meat market segmented based on product, source, meat type, storage category, distribution channel, and region/country.
Vegan meat is a 100% plant-based alternative to traditional animal-derived meat products such as beef, pork, and chicken. It is typically made from plant-based protein sources such as soy, peas, and wheat and is designed to mimic the taste, texture, and appearance of traditional meat products. Vegan meat products are often sold in the form of burgers, sausages, nuggets, and other meat substitutes.
In this market study, the market size in terms of value is calculated based on the revenue generated from sales of all plant-based alternative meat products that are certified as 100% plant-based and vegan by manufacturers (plant-based products mentioning any animal-derived ingredients are excluded from this calculation).
Cite this report
Meticulous Research. (2024). Vegan Meat Market - Global Opportunity Analysis and Industry Forecast (2025-2032) (Report No. MRFB - 1041262). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/vegan-meat-market-5945