Plant-Based Chicken Market Analysis and Forecast

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The plant-based chicken market is growing with the rise of veganism, flexitarianism and vegetarianism. The European plant-based chicken market was valued at $631 million in 2018 and is expected to grow at a CAGR of 3.33% from 2019 to 2025. The US plant-based chicken market was valued at $4 billion in 2018 and is expected to grow at a CAGR of 4.14% from 2019 to 2025.

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introduction

The global poultry market is worth approximately US$220 billion. There is growing concern about the environmental impact of using large amounts of poultry feed, which has led to increased interest in plant-based proteins that can be grown without the need for animal feed. . This could generate huge opportunities for meat substitutes as well as poultry meat and foie gras as demand grows.

Plant-Based Chicken Market Size and Forecast

The global plant-based chicken market size is expected to reach $33 billion by 2024. The plant-based meat market has become more viable owing to the much cheaper cost to produce compared to red meat , due to low input costs and abundance. raw materials needed. The plant-based meat industry is expected to grow at a CAGR of over 20% over the next five years

Growing demand for plant proteins

Plant-based proteins are on the rise and their demand will continue to grow as more and more people embrace healthy living. Vegetable proteins are a clean source of protein rich in minerals, micronutrients, antioxidants and vitamins. It’s also high in heart-healthy fats like omega 3s.

Industry analysis and forecasts

The study on the Plant-Based Chicken Market has been conducted considering the aspects mentioned below:
– Existing players
– Forecasts for 2019-2023
– Market development trends
The company has been criticized by some companies because the plant-based chicken industry is emerging. Some people have claimed that this will lead to a drop in the demand for animal flesh, which will lead to lower revenues for the industry.

Latest market trends

The Plant-based Chicken Market analysis and forecast report provides insights into the industry, market size and growth strategies. The report also includes a discussion of major players involved in this space along with their market share.

Different Bird Species and Their Consumption Rates

Bird consumption rates have proven to be the most reliable indicator of the US bird market. Some species of birds have experienced a rapid growth rate, such as ducks, turkeys and quails. Chickens are currently the most consumed birds because they are affordable to buy and can easily be prepared for meat consumption.

Impact of consumer spending

With the changing demographics of modern society, a large number of consumers are turning to plant-based foods. The chicken market is an example of this, with consumers making conscious efforts to eliminate animal products from their consumption.

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Types of plants to use for production

One of the most common and sustainable sources of protein comes from plants. Plants also have a variety of flavors, textures and uses. Since the use of plants for meat substitutes has grown exponentially in recent years, the plant-based chicken market is expected to grow at a higher rate in the future.

Ingredients used in the production process

The global plant-based chicken market is poised to grow over the next decade. This market is primarily driven by growing demand for a healthier alternative to red meat, growing awareness of ulcerative colitis and other chronic inflammatory diseases, and increased focus on sustainability and wellness. to be animal.

Conclusion

A $45 billion market is on the horizon. With an increasing number of consumers switching to plant-based proteins, driven by a quest for better health and the support of industry experts, the plant-based chicken market is growing exponentially.

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About Cassondra Durden

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