Retail Trends in Chilled Frozen and Shelf Stable Plant Based Meats
The plant-based meat industry has been experiencing significant growth in recent years, with more consumers opting for meat alternatives for health, environmental, and ethical reasons. One segment of this industry that has been gaining traction is chilled frozen and shelf-stable plant-based meats. In this report, we will explore the current retail trends in this specific sector, including key players, financial data, and industry insights.
Key Players in the Market
Some of the major players in the chilled frozen and shelf-stable plant-based meats market include Beyond Meat, Impossible Foods, Gardein, Tofurky, and Lightlife. These companies offer a variety of plant-based meat products such as burgers, sausages, chicken nuggets, and meatballs, catering to the diverse preferences of consumers.
Financial Data
According to a report by Market Research Future, the global plant-based meat market is expected to reach $21.23 billion by 2024, with a CAGR of 15.8% during the forecast period. This growth is driven by increasing awareness about the health and environmental benefits of plant-based diets, as well as the rising demand for meat alternatives among consumers.
Industry Insights
One of the key trends in the chilled frozen and shelf-stable plant-based meats market is the expansion of product offerings by manufacturers. Companies are constantly innovating and introducing new plant-based meat products to meet the evolving preferences of consumers. For example, Beyond Meat recently launched its Beyond Breakfast Sausage, catering to the growing demand for plant-based breakfast options.
Another trend in the industry is the focus on sustainability and environmental impact. Consumers are becoming more conscious of the environmental footprint of their food choices, leading to an increased demand for plant-based meats that are produced using sustainable practices. Companies like Impossible Foods have been actively promoting the sustainability of their products, highlighting their lower carbon footprint compared to traditional meat.
Consumer Preferences
Consumers are increasingly looking for plant-based meat products that not only mimic the taste and texture of traditional meat but also offer health benefits. Products that are high in protein, low in saturated fat, and free from artificial ingredients are particularly popular among health-conscious consumers. Additionally, convenience and ease of preparation are important factors driving the demand for chilled frozen and shelf-stable plant-based meats.
Future Outlook
The future of the chilled frozen and shelf-stable plant-based meats market looks promising, with continued growth expected in the coming years. As more consumers embrace plant-based diets for health and environmental reasons, the demand for meat alternatives is likely to increase. Manufacturers will need to continue innovating and expanding their product offerings to meet the evolving preferences of consumers and stay competitive in the market.
In conclusion, the chilled frozen and shelf-stable plant-based meats market is witnessing significant growth, driven by consumer demand for healthier, more sustainable food options. With key players investing in product innovation and sustainability, the future looks bright for this rapidly expanding industry.
