The influx of biotechnology and the shifting focus of consumers towards adopting healthier, as well as vegetarian lifestyles, will substantially drive the consumption of plant-based meat in the U.S. The fluctuating environment temperatures and unfavorable climatic conditions like floods are likely to arouse an uncertainty and dearth of animal-based meat supply. This has paved the way for manufacturers operating in the food business to come up with vegetarian options to fill in the meat requirements of the consumers.

Plant-based meat products, including seitan, falafel, tempeh, and Mock duck are derived from plants as well as other non-animal ingredients to imitate the look, taste, and feel of natural meats. They can be deemed as sustainable and environmentally friendly substitutes for meat. Soybeans, wheat gluten, lentils, tofu, yuba, and nuts are some of the well-known and highly used plant-based meat ingredients.

Estimates reveal that the U.S. plant-based meat market size is anticipated to grow significantly through 2026.

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Rising intake of plant-based meat burgers

The growing consumption of plant-based meat burgers will significantly boost the prospects for the overall industry in the U.S. This can be attributed to the rise in the number of high-end burger-making grocery stores as well as fast food joints like Impossible Burger, Beyond Meat and Awesome. These outlets are substituting the beef meat in the burgers with grains, legumes such as soy and lentils, and vegetables. Along with this, the meatless burgers are enriched with higher protein value as well as vitamins and minerals to imitate the nutritive value of beef.

Increasing preference by millennials and Generation Z

The millennial and Generation Z population base are likely to remain the largest consumers of plant-based meat products in the U.S region. This can be owed to the rising willingness of these individuals, especially the millennials to turn towards healthier and plant-based lifestyles to sustain well-being in a long run. It was estimated in a survey conducted in 2019 that more than half of the millennial and Generation Z individuals in the region ate plant-based meat at least once a month, in comparison to one-fifth of the adult population that are aged above 55 years.

Higher availability in convenience and grocery stores

The distribution of plant-based meat ingredients through grocery stores is expected to reach an exponential growth rate on account of the ease of access to the products. There is an abundant variety of plant-based beef, pork, chicken, and fishless fish available at these facilities. Good Catch, Tyson, Smithland Pure Farmland, and Sweet Earth Foods are some of the prominent grocery stores across the country supplying plant-based meat.

Providers of plant-based meat substitutes in the U.S. are working towards novel product launches and innovations to gain a competitive edge over the other participants specifically in the current COVID-19 pandemic. They are also focusing on strategic initiatives like mergers, acquisitions, and partnerships to expand their offerings to a larger audience across the globe.

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For instance, leading California-based firm, Impossible Foods, broadened its presence in Asia with the provision of Impossible Sausage, a plant-based substitute for pork, across 200 locations in Hong Kong in September 2020. Simply Balanced, Sweet Earth Natural Foods, Boca Burger, Trader Joe’s, Yves Veggie Cuisine, Tofurky, Quorn Foods Gardein, Beyond Meat, MorningStar Farms, and Before the Butcher are some of the other plant-based meat brands in the region.

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