ACCESSWIRE
25 Nov 2020, 00:01 GMT+10
Market players to foresee ample opportunities amid the COVID-19 outbreak due to higher demand for plant based protein along with growing concerns about health.
DUBAI, UAE / ACCESSWIRE / November 24, 2020 / As per Future Marketing Insights (FMI), the plant based meatballs market is swiftly gaining traction in the global market. The market is anticipated to expand at a stellar CAGR of 23% over the forecast period 2020-2030. The growth can be primarily attributed to the growing demand for plant-based protein supplements. The growing preference for going vegan together with the risk factors related to different types of meat and meat products are catalyzing the market growth globally.
'Growing demand for plant-based meat substitutes are aiding the overall market growth. With a few of the key players launching plant-based meatballs in their menu to provide to health-conscious customers, the market will foresee several launches in the approaching years.' comments the FMI analyst.
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Plant Based Meatballs Market - Key Highlights
Plant Based Meatballs Market - Drivers
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Plant Based Meatballs Market - Restraints
COVID-19 Impact on the Market
The ongoing COVID-19 outbreak has negatively impacted the overall market growth. However, the outbreak has made the individual more aware of their health ensuing in high demand for the plant-based protein. Regardless of encountering some constraints due to the outbreak, the plant-based meatballs market is anticipated to recover and expand further in the approaching years.
Competitive Landscape
Major players operating in the global plant based meatballs market include Beyond Meat, Sysco Foodie, Kellogg's, Ikea, GCL Food Ingredients, Subway, Mycorena AB, Schouten Food, Zhenmeat, Gardein, and Hydrosol. Key players are focusing on launching new products to capture a huge consumer base. For instance, Beyond Meat has launched its widespread range of plant-based meatball products such as ready-to-cook and pre-formed BEYOND BREAKFAST SAUSAGE®, BEYOND MEATBALLS™, BEYOND BURGER®, COOKOUT CLASSIC™, and others.
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About the Study
The study offers readers a comprehensive assessment of the Plant Based Meatballs market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (plant based chicken, plant based beef, plant based pork), source (soy-based protein, wheat-based protein, pea-based protein, canola-based protein, fava-bean based protein, potato-based protein, rice-based protein, lentil-based protein, flax-based protein, chia-based protein, corn-based protein), distribution channel (hypermarkets/supermarkets, convenience stores, specialty food stores, online retail, HoReCA), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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Report: https://www.futuremarketinsights.com/reports/plant-based-meatballs-market
Press Release Source: https://www.futuremarketinsights.com/press-release/plant-based-meatballs-market
SOURCE: Future Market Insights
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