IMARC Group, a leading market research company, has recently releases report titled “GCC Plant-Based Meat Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The GCC plant-based meat market is projected to exhibit a growth rate (CAGR) of 13.70% during 2023-2028.
What is Plant-Based Meat?
Plant-based meat, often referred to as vegan or vegetarian meat, is a food product designed to imitate the taste, texture, and appearance of traditional animal-derived meat. It is crafted using a combination of plant-based ingredients, such as legumes, grains, soy, mushrooms, and various protein sources, to replicate the sensory experience of consuming animal meat. It caters to a broad range of dietary preferences, including vegetarians, vegans, and flexitarians. It contributes to food security by providing an alternative protein source that is less resource-intensive. It has limited saturated fat and cholesterol than traditional meat. Furthermore, as plant-based meat production requires significantly fewer resources, emitting fewer greenhouse gases and consuming less land and water, its demand is rising in the GCC region.
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What are the growth prospects and trends in the GCC Plant-Based Meat Industry?
At present, the increasing demand for plant-based meat due to the rising adoption of a vegan lifestyle among the masses represents one of the crucial factors impelling the growth of the market in the GCC region. Besides this, the increasing utilization of plant-based meat to prepare a wide array of dishes, including burgers, pizza, hotdogs, and meatballs, is propelling the growth of the market in the region. In addition, the growing environmental ramifications of traditional meat production are offering a favorable market outlook. Apart from this, the increasing movement towards more sustainable food choices is contributing to the growth of the market. Additionally, the rising number of food companies and restaurants expanding their plant-based offerings to cater to a broader customer base is bolstering the growth of the market in the GCC region.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Burger Patties
- Sausages
- Nuggets and Strips
- Ground Meat
- Meatballs
- Others
The report has provided a detailed breakup and analysis of the market based on the product type. This includes burger patties, sausages, nuggets and strips, ground meat, meatballs, and others.
Source Insights:
- Soy
- Wheat
- Peas
- Others
The report has provided a detailed breakup and analysis of the market based on the source. This includes soy, wheat, peas, and others.
Meat Type Insights:
- Chicken
- Beef
- Pork
- Others
The report has provided a detailed breakup and analysis of the market based on the meat type. This includes chicken, beef, pork, and others.
Distribution Channel Insights:
- Restaurant and Catering Industry
- Supermarkets and Hypermarkets
- Convenience and Specialty Stores
- Online Retail
The report has provided a detailed breakup and analysis of the market based on distribution channel. This includes restaurant and catering industry, supermarkets and hypermarkets, convenience and specialty stores, and online retail.
Country Insights:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman.
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