Plant-based Burger Market Report

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 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.

Organic plant-based burgers are a healthier option for consumers. These burgers are devoid of harmful fertilizers 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 burgers over the forecast period. The advent of numerous start-ups specializing in plant-based burgers has 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 fulfill 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.

• Investment in R&D to improve the taste and texture of plant-based burgers by using advanced food science techniques and ingredients.
• Use of healthier ingredients including fortified nutrients such as vitamins and minerals.
• Enhancements of nutritional profiles by using diverse protein sources such as soy and pea proteins.
• Customizable plant-based burgers by offering gourmet options with unique flavors and personalized toppings.

To get the desired flavor 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 burgers. 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.

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 a plant-based baked king range in 2022. Vegan Royale Bakon King is stuffed with crunchy vegan bacon and vegan cheese.

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, healthy, and nutritious foods are driving the market's expansion. People are also switching to meat substitutes due to growing concerns about maintaining ecosystem balance. The 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 opportunities to companies.

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 the plant-based burger market has been offered for all regional market shares, 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 countries and regions included in the plant-based burger market report are as follows:

• Plant-based burger market detailed segments and segment-wise market breakdown
• Plant-based burger market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in plant-based burger industry)
• Current, historical, and forthcoming 10 years market valuation in terms of plant-based burger market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Plant-based burger market demand analysis
• Plant-based burger market pricing analysis over the forecast period (by key segment and by region)
• Plant-based burger market regional insights with region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the plant-based burger market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in the plant-based burger market
• Plant-based burger market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on plant-based burger market forecast by countries
• Mergers and acquisitions in the plant-based burger market
• Essential information to enhance market position
• Robust research methodology