Plant-based Nuggets Market Size & Growth Analysis to 2030

The global plant-based nuggets market size was valued at over USD 400 million in 2022 and anticipated to register a significant growth rate of around 6% during the forecast period from 2023 to 2030. On the basis of region, Europe is expected to account for the largest market share by the end of the analysis period owing to increasing demand for vegetarian products among consumers as well as increased adoption of vegetarian diets.

The increasing demand for vegan products due to their various health benefits and the growing adoption of vegan diets among consumers are some major factors driving the industry growth significantly. Furthermore, the better healthier properties of the product as compared to conventional meat-based nuggets are anticipated to fuel the market growth. The increasing demand for healthy and convenience food products and the increasing adoption of the product in fast food options are expected to propel the market over the forecast period. Moreover, the rapid growth in urbanization, growing population, and increasing disposable income per capita especially in developing countries are expected to fuel the market growth. Additionally, the growing demand for additive-free and organic food products around the world is fueling industry growth.

Market Snapshot:

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Market Drivers:

Increasing Demand for Plant-based Food: There is a growing demand for plant-based food products, driven by various factors such as health and wellness concerns, environmental sustainability, and animal welfare considerations. Consumers are increasingly seeking alternative protein sources to reduce their consumption of meat. Plant-based nuggets provide a convenient and familiar option for those looking to incorporate more plant-based alternatives into their diets.

Health and Wellness Awareness: The rising awareness of health and wellness is a significant driving factor for the plant-based nuggets market. Plant-based nuggets are often perceived as healthier alternatives to traditional meat-based nuggets. They are typically lower in saturated fat, cholesterol, and calories while being rich in fiber and plant-based proteins. The growing focus on healthy eating habits and the desire for nutritious and balanced meals contribute to the demand for plant-based nuggets.

Environmental Sustainability Concerns: Concerns about the environmental impact of animal agriculture and its contribution to greenhouse gas emissions, deforestation, and water pollution are driving the demand for plant-based alternatives. Plant-based nuggets offer a more sustainable option as they require fewer natural resources, produce fewer greenhouse gas emissions, and have a lower ecological footprint compared to meat-based nuggets. The increasing awareness of environmental sustainability and the desire to make more eco-friendly food choices support the growth of the plant-based nuggets market.

Changing Consumer Preferences and Taste: Consumer preferences and tastes are evolving, with an increasing number of people looking for innovative and flavorful plant-based options. Plant-based nuggets are being developed to mimic the taste, texture, and appearance of traditional chicken nuggets, providing consumers with a familiar and satisfying eating experience. The availability of tasty and high-quality plant-based nuggets appeals to a broader consumer base, including flexitarians, vegetarians, and individuals exploring plant-based diets.

Expansion of Product Offerings: The plant-based food industry is continuously expanding its product offerings, including plant-based nuggets, to cater to diverse consumer preferences. Manufacturers are investing in research and development to create new and improved plant-based nugget recipes using a variety of plant-based protein sources such as soy, pea, wheat, and mushrooms. The introduction of different flavors, seasonings, and coatings further enhances the appeal of plant-based nuggets, attracting consumers seeking diverse and convenient plant-based meal options.

Retail and Foodservice Partnerships: Partnerships between plant-based food manufacturers and retail chains, restaurants, and foodservice providers are driving the availability and accessibility of plant-based nuggets. Increased distribution channels and wider availability of plant-based nuggets in grocery stores, quick-service restaurants, and other food outlets contribute to market growth. Collaborations and strategic alliances between plant-based food companies and established players in the food industry help expand market reach and raise consumer awareness.

Marketing and Promotional Efforts: Effective marketing and promotional efforts by plant-based food companies have played a crucial role in driving the demand for plant-based nuggets. Through advertising campaigns, social media presence, and product endorsements, manufacturers have successfully raised awareness about the benefits of plant-based eating and positioned plant-based nuggets as a desirable and appetizing food choice. Marketing strategies that highlight the health, environmental, and ethical aspects of plant-based nuggets resonate with consumers and stimulate market growth.

Global Increase in Vegan and Vegetarian Populations: The global rise in the number of vegans, vegetarians, and individuals adopting flexitarian diets is fueling the demand for plant-based food products, including plant-based nuggets. As more people choose to reduce or eliminate animal products from their diets, the demand for tasty and convenient plant-based alternatives increases.

Market Insights:

By product type, the plant-based chicken segment held the largest market share of the  global plant-based nuggets market in 2020

The global plant-based nuggets market is bifurcated into product type, source, distribution channel, and geography. On the basis of product type, the market is further segmented into plant-based chicken, plant-based pork, and plant-based beef. The plant-based chicken segment dominated the global market in the benchmark year and expected to register the fastest growth rate (CAGR) over the forecast period. The higher consumer preference towards plant-based chicken as compared to other products due to its better taste, good texture, and more nutritious value is a significant factor driving the segment growth.

By source, the soy-based protein is estimated to dominate the global market by 2030

On the basis of source, the market is segmented into soy-based protein, wheat-based protein, pea-based protein, canola-based protein, and others. The soy based protein segment dominated the global plant-based nuggets market in 2022 and expected to maintain its dominance over the forecast period. The widespread use of the product in plant-based food products and the presence of high protein value are some major factors driving the segment growth. Furthermore, the properties associated with the product such as better taste and better texture, and the rising health concerns due to the consumption of animal-based food products are anticipated to propel the segment growth over the forecast period.

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The global plant-based nuggets market report explores the critical analysis of the industry using key parameters. The report covers investment strategies, the need for investment in the industry, and several benefits for investors. Significantly, this report sets out major changes in the global technical regulations for the market, as well as how economic and non-economic constraints are helping the market to grow. Furthermore, the report analyzes the historic and forecasted market size at the global, regional, and country-level. The report also provides a comprehensive analysis of key investment proposals, competitor positions, porter’s five force analysis, SWOT analysis, pestel analysis, value chain analysis, etc.

The plant-based nuggets comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The plant-based nuggets market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

• Plant-based Chicken
• Plant-based Pork
• Plant-based Beef

By Application:

• Soy-based Protein
• Wheat-based Protein
• Pea-based Protein
• Canola-based Protein
• Fava Bean-based Protein
• Potato-based Protein
• Rice-based Protein
• Others

By Distribution Channel:

• Retail
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Food Services
• Online Retail
• HoReCa

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the plant-based nuggets market report comprises dedicated sections centering on the regional market revenue and trends. The plant-based nuggets market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The plant-based nuggets market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Plant-based nuggets market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the prominent market players operating in the global plant-based nuggets market are McDonald’s Corporation, Burger King, KFC, Tyson Foods, Inc., and Nuggs. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• McDonald’s Corporation
• Burger King
• KFC
• Tyson Foods, Inc.
• Nuggs (Simulate, Inc).
• Alpha Foods
• 365 Everyday Value
• Kraft Foods, Inc.
• Beyond Meat
• Field Roast Grain Meat Co., Inc.
• Nestlé S.A.

Key Questions Answered by Plant-based Nuggets Market Report

• Global plant-based nuggets market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Plant-based nuggets submarket forecasts from 2023-2030 covering the market by product type, source, distribution channel, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level plant-based nuggets markets from 2023-2030
• Competitive Landscape and market positioning of the top 10 players operating in the market