Plant-based Meat Market Size, Share, Growth, Trends, and Global Industry Analysis: By Source (Soy Protein, Pea Protein, Wheat Protein, Rice Protein, Potato Protein, Others), By Type (Refrigerated, Frozen, Shelf-stable), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online/E-commerce, Foodservice, Others) and Region Forecast 2020-2031

Plant-based Meat Market size was valued at US$ 17,150.2 million in 2024 and is expected to reach US$ 43,444.2 million by 2031, growing at a significant CAGR of 13.6% from 2025-2031. Moreover, the U.S. Plant-based Meat Market is projected to grow at a CAGR of 14% over the forecast period. The plant-based meat market refers to the segment of the food industry that develops, produces, and distributes meat alternatives derived from plant-based ingredients such as soy, peas, wheat, lentils, mushrooms, and other plant proteins. These products are designed to mimic the taste, texture, appearance, and nutritional profile of conventional animal meat while offering a sustainable and ethical alternative. Plant-based meats are commonly available in formats such as burgers, sausages, nuggets, ground meat, and deli slices, catering to both vegetarian/vegan consumers and flexitarians seeking healthier and environmentally friendly options.

The plant-based meat market has gained significant momentum in recent years, driven by rising consumer awareness of health, environmental sustainability, and animal welfare. Increased adoption of flexitarian diets, growing concerns over greenhouse gas emissions from livestock farming, and advancements in food technology have further accelerated the demand for meat alternatives. Major food manufacturers, startups, and restaurant chains are actively investing in this sector, expanding product variety and improving taste profiles to match traditional meat. With expanding retail presence, partnerships with quick-service restaurants, and increasing consumer acceptance, the market continues to evolve as a mainstream food category rather than a niche segment.

Key Developments 

• In July 2025, Dutch retailer Albert Heijn introduced 15 new hybrid products combining meat or dairy with plant-based ingredients. These offerings include sausages and deli meats incorporating faba and butter beans. The move reflects a growing trend toward hybrid solutions that balance taste, texture, and sustainability. Hybrid products are often more affordable and less processed than 100% plant-based alternatives, potentially broadening their appeal to a wider consumer base.
• In February 2025, Eat Just launched plant-based chicken patties under its GOOD Meat brand, targeting both foodservice chains and retail markets. This expansion reflects a strategic move toward hybrid alt-protein solutions, combining plant-based ingredients with cultivated meat to offer products that closely mimic traditional meat in taste and texture.

Plant-based Meat Market Segmentation

Based on the source 

• Soy Protein
• Pea Protein
• Wheat Protein
• Rice Protein
• Potato Protein
• Others

Soy protein is anticipated to be the leading driver of growth in the plant-based meat market due to its high nutritional value, versatility, and widespread availability. Rich in essential amino acids and low in saturated fat, soy-based products closely mimic the texture and protein content of animal meat, making them highly appealing to health-conscious and flexitarian consumers. Additionally, soy protein benefits from established cultivation and supply chains, ensuring consistent quality and cost-effectiveness for manufacturers. As consumer demand for sustainable, protein-rich alternatives rises, soy protein continues to dominate the market, setting the benchmark for other plant-based protein sources.

Based on the type 

• Refrigerated
• Frozen
• Shelf-stable

The frozen segment is anticipated to lead growth in the plant-based meat market due to its extended shelf life, convenience, and broad consumer appeal. Frozen plant-based products retain their nutritional value, taste, and texture for longer periods, making them suitable for both retail and foodservice channels. This format allows manufacturers to distribute products across wider geographic regions without compromising quality, supporting market expansion. Additionally, the rising adoption of frozen plant-based meals among busy households and quick-service restaurants has further reinforced its demand. As consumers increasingly prioritize convenience and ready-to-cook options, the frozen segment remains the dominant driver in the market.

Based on the distribution channel 

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online/E-commerce
• Foodservice
• Others

Supermarkets and hypermarkets are anticipated to be the leading driver of growth in the plant-based meat market due to their extensive reach, wide product assortment, and ability to influence consumer purchasing behavior. These retail channels offer high visibility for plant-based meat products, making them accessible to a large and diverse customer base. Promotions, in-store sampling, and strategic shelf placement further encourage trial and adoption. Additionally, the growing focus of supermarkets on health, sustainability, and plant-based options aligns with changing consumer preferences. As a result, supermarkets and hypermarkets remain the dominant distribution channel driving market expansion globally.