The Growing Global Market for Plant-Based Chicken: A Buyer’s Guide
The global plant-based chicken market is poised for substantial growth, with Future Market Insights projecting an 18.4% compound annual growth rate (CAGR) through 2033, reaching an estimated $8.8 billion. This rise is fueled by consumers seeking sustainable, health-conscious alternatives to traditional chicken, driven by increasing awareness of environmental impacts and animal welfare concerns.
Product Diversity and Innovation
Plant-based chicken products come in various forms, including nuggets, tenders, patties, and strips. These products are primarily made from soy, wheat, and pea proteins, with advancements in texture and flavor helping brands overcome early barriers of taste and mouthfeel. For food buyers, the growing variety of plant-based chicken options provides a chance to cater to different consumer preferences, from those looking for familiar, comfort-food-like products to health-conscious shoppers seeking clean-label, minimally processed options.
Companies leading the charge in this arena include names such as Impossible Foods, Gardein, Beyond Meat, Before The Butcher, Tindle and Shicken. These manufacturers provide options across a variety of applications including strips, nuggets, patties, and even seasoned “Tikka Masala” chunks (Shicken) designed for both retail and foodservice environments.
Key Regions and Market Demand
North America and Europe are leading markets for plant-based chicken, with a strong focus on innovation and retail distribution. However, the Asia-Pacific region is emerging as a growth hub, driven by increasing plant-based consumption trends and government initiatives supporting sustainable food production. Buyers operating in these regions should be aware of the accelerating demand and capitalize on the expanding range of offerings in both retail and foodservice channels.
Challenges and Considerations
While plant-based chicken offers significant opportunities, challenges remain, particularly around pricing and consumer acceptance. Plant-based chicken tends to be more expensive than traditional meat, which can be a barrier for price-sensitive customers. However, as production scales and innovation improves, the price gap is expected to narrow. According to data from SPINS, plant-based shoppers in the United States tend to spend nearly 2x the amount at the grocery store than non-plant-based shoppers. This indicates that these customers are willing to pay for a premium, plant-based product even as the market continues to strive for price parody.
Additionally, buyers are encouraged to consider educating their customers about the environmental and health benefits of plant-based chicken, positioning it as a viable alternative to animal products.
The Path Forward
For food buyers, the plant-based chicken market presents a valuable opportunity to stay ahead of consumer trends while offering sustainable, ethical, and innovative products. Attending events like Plant Based World Expo North America and Europe can help buyers stay informed about the latest advancements and connect with key suppliers to expand their product lines.
For more insights into the market, read the full study by Future Market Insights.