Plant-based Burger Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033

Plant-based Burger is Becoming Popular in Terms of Quality, Health & Environmental Awareness

Plant-based burgers continue to be the top product type in the plant-based meat category. Foodservice is also growing as millennial and Gen Z restaurant diners, as well as older adults, seek out vegetarian/vegan food as a first choice on menus. Plant-based meats are available in almost every major restaurant chain, including plant-based burgers at Burger King Corporation and McDonald's, and many others. While plant-based burgers remain popular among consumers, the plant-based meat market is responding to consumers’ preference for greater diversity and innovation. The continuous popularity of plant-based burgers highlights the fact that consumers are looking for foods that are healthier for humans, the environment, and animals. Consumer preferences for sustainable and healthy eating options are expanding the plant-based burger market rapidly. Individuals are eager to switch to plant-based meat alternatives, which will motivate more companies to provide innovative food options. The market is expected to grow as companies introduce new products without compromising taste. The attempts to replicate the original texture of meat-based burger patties should serve as a good precursor to the global plant-based burger market. Some plant-based food and beverage companies are actively increasing investment as a result of increased consumer demand around the world, which is a positive indicator for the global plant-based product market.

Demand for Meat Alternatives & Increased Vegan Population are Likely to Boost Plant-based Burger Market’s Growth

Plant-based burgers are gaining popularity around the world. Particularly in countries where fast food is prevalent, like the United States. Plant-based diets have become popular in developed countries. According to data from the Plant Based Foods Association and The Good Food Institute, retail sales of plant-based foods in the United States increased 6.2% in 2021, following a record year of growth in 2020, bringing the entire plant-based market value to an all-time high of $ 7.4 billion. One of the primary drivers of market growth is the availability of plant-based burgers in renowned restaurant chains. Plant-based foods, such as burgers from a well-known plant-based food company, are available in chain restaurants. The sale and recognition of various natural products grow in line with the product reach. This paves the way for the plant-based burger market's overall expansion. Consumer preferences for sustainable, healthful, and nutritious foods are driving the market's expansion. People are also switching to meat substitutes due to growing concerns about maintaining ecosystem balance. Market in the European region is being driven by rising demand for plant-based meat and chicken. The plant-based burger market started out as a niche industry focused exclusively on vegan and vegetarian consumers. It has now become a mainstream food sector. The flexitarian diet concept is also contributing to market growth, as more people are allowing the industry to deliver enormous market potential and long-term growth opportunity to companies.

Rising Meat Consumption & High Costs of Plant-based Products are Bringing a Threat to Market Participants

To get the desired flavour and texture, a long list of ingredients is used. All the exact amount is required to produce a finished product, thereby increasing the manufacturing costs.  The sustainability of raw materials is a major concern for plant-based food producers. The plant-based food sector is facing some challenges, owing to increased criticism of issues such as Amazon deforestation and the nutritional properties of the meat alternatives. The plant-based burger is way more expensive compared to regular burger. Meat consumption is increasing due to its low cost, high protein content, easy availability, and increased disposable income, which has led to a rise in meat production capacity and supply. According to the USDA, demand for red meat and poultry products in the United States will reach 222.4 pounds per capita retail weight, hampering the growth of the plant-based burger market.

Plant-based Burger Market Segmentation

The global plant-based burger market is segmented on the basis of product type, source, packaging and sales channel.

On the basis of Product Type:

·         Plant-based Chicken Burger

·         Plant-based Beef Burger

·         Plant-based Pork Burger

·         Plant-based Fish Burger

·         Others

On the basis of Source:

·         Soy Protein

·         Wheat Protein

·         Pea Protein

·         Canola Protein

·         Fava Bean Protein

·         Potato Protein

·         Rice Protein

·         Lentil Protein

·         Flax Protein

·         Others

On the basis of Packaging:

·         Paper Burger Box

·         Butter Paper Wrap

·         Paper Bag

·         Burger Box with Handle

·         Takeout Containers

·         Mini Boxes

·         Wax Food Paper Wrap

·         Others

On the basis of Sales Channel:

·         Hypermarkets/Supermarkets

·         Convenience Stores

·         Specialty Food Stores

·         HoReCa

·         Modern Trade

·         Online Retail

·         Others

New Launches & Acquisitions are Expected to Enhance Market Growth

Some of the most prominent food and beverage companies are expanding their presence in collaboration with plant-based food companies. Impossible Burgers, a prominent plant-based burger brand, is available on many takeaways and restaurant menus in the United States. Big names on this list include Burger King Corporation, TCF Co. LLC. and Little Caesar Enterprises, Inc. Lightlife Foods, Inc. introduced its reinvented Lightlife Burger at more than 250 Harvey's stores throughout Canada in July 2020. The new plant-based burger recipe uses only simple ingredients like pea protein, coconut oil, and garlic powder and contains 17 g of protein and only 5 g of saturated fat. To expand their product offerings, McDonald's has acquired established players in the plant-based burger market. By acquiring the popular plant-based burger producer Beyond Meat, the company announced the debut of a range of plant-based meat substitutes named "McPlant" in 2021. Burger King Corporation launched plant-based bakon king range in 2022. Vegan Royale Bakon King is stuffed with crunchy vegan bacon and vegan cheese.

Lightlife Foods, Inc., Nestle S.A., Unilever, Beyond Meat, Impossible Foods Inc., Little Caesar Enterprises, Inc., TCF Co. LLC., Hodo, Inc., Kellogg NA Co., Amazon Technologies, Inc., Kraft Foods,Inc., Conagra, Inc., DR. PRAEGER'S SENSIBLE FOODS are some of the well-known market players that are operating in the plant-based burger market.

Growing Health Concerns Regarding Animal Meat Consumption has Encouraged the Demand of Plant-based Burgers

Organic plant-based burgers are a healthier option for consumers. These burgers are devoid of harmful fertilisers and pesticides, making them an ideal choice for health-conscious consumers. Plant-based burgers are getting increasingly popular in the market. Furthermore, meat production has a negative influence on biodiversity and is a significant source of anthropogenic greenhouse gas (GHG) emissions. Meanwhile, people who are health-conscious avoid meat as it includes fat residues and gluten. Thus, the negative impacts of meat consumption will increase demand for alternatives such as plant-based burger over the forecast period. The advent of numerous start-ups specialising on plant-based burgers have resulted in market expansion in recent years. The COVID-19 pandemic generated attractive expansion opportunities for various plant-based burger producers throughout the world. Vegan food consumption has grown considerably in order to maintain a healthy lifestyle. To fulfil increased consumer demand for plant-based burgers, food companies are launching new products. PETA is also encouraging people to eat more plant-based meals. All of these factors are expected to boost demand for plant-based burgers in the near future.                                                                                     

The report provides a detailed overview of the plant-based burger market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for plant-based burger market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the plant-based burger market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the plant-based burger market. Some key country and region included in the plant-based burger market report as follows:

North America (U.S., Canada)

Latin America (Mexico, Argentina, Brazil, Peru, Chile)

Europe (Germany, France, Italy, U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)

Asia Pacific (China, ASEAN, India, Japan, South Korea)

Oceania (Australia, New Zealand)

Middle East and Africa (South Africa, GCC Countries, Turkey, Israel, Iran)

The Plant-based Burger Market Research Report Covers In-depth Analysis on:

·         Plant-based burger market segments

·         Plant-based burger market dynamics

·         Plant-based burger market value and share analysis

·         Recent trends, restraints, opportunities in plant-based burger market

·         Companies & competition involved plant-based burger market

·         Latest technologies in plant-based burger market

·         Supply chain and value chain plant-based burger market

·         Plant-based burger market sales and distribution strategies

Plant-based Burger Market Growth Highlights:

·         A comprehensive overview of parent market

·         Market dynamics, demand and trends in the industry

·         Current, historical and anticipated market size in terms of volume

·         In-depth market segmentation

·         Competition landscape

·         Key strategies of leading companies and product portfolio

·         Plant-based burger industry trends and developments

·         Potential and country, regions and segments exhibiting future growth

·         A detailed viewpoint on plant-based burger market forecast by countries

·         Essential information to enhance market position