Product Code: PM3794
The global vegan steak market size is expected to reach USD 1,023.57 million by 2032, according to a new study by Polaris market research. The report "Vegan Steak Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Almond, Wheat, and Others); By Distribution Channel; By End Use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Vegan Steak Market includes various steak alternatives made from plant-based ingredients, offering various flavors, textures, and formulations to cater to diverse consumer preferences. The market targets a broad consumer base, including vegetarians, vegans, flexitarians, and individuals seeking healthier or more sustainable dietary options. Vegan steaks are increasingly featured on restaurant menus, contributing to the market's growth in the food service sector.
The surging prevalence of the movement against cruelty to animals across many parts of the world, the emerging trend of veganism and animal concerns, particularly in European countries, and the introduction of vegan steaks into new flavors and improved nutritional contents are prominent factors propelling the global market growth at a rapid pace. In addition, an exponential rise in the number of companies entering the market and offering plant-based diets, including vegan steaks, coupled with the fueling adoption of new technologies for improving product quality and shelf life, will likely boost the market significantly over the years.
For instance, in June 2023, Made with Plants announced the expansion of its product portfolio by launching a new sirloin-style plant-based steak. The new steak will offer the succulent taste of the premium steak without any need for animal ingredients.
In recent years, environmental consciousness has become one of the most booming trends in the global market, as a large number of consumers across the globe are increasingly becoming aware of the environmental impact of animal agriculture like deforestation, greenhouse gas emissions, and water consumption, thereby resulting in greater adoption of vegan steaks as they are more sustainable and eco-friendly choice over others.
Additionally, a large number of global companies operating in the market have increased their focus and prevalence towards utilizing advanced texturization techniques to improve the mouthfeel of vegan steaks and also implementing extrusion and other processing methods that help them to create fibrous structures and desirable textures more conveniently, which in turn, has drastically increased revenue and sales opportunities in the market.
Vegan Steak Market Report Highlights
The soy segment accounted for the largest market share in 2022, mainly driven by its growing demand due to the numerous beneficial characteristics of soy.
The online platforms segment accounted for the highest market share during the forecast period due to the emergence of several online channels and digital shoppers.
North America dominated the largest market share in 2022 due to the rising number of vegan population and inclination towards plant-based diets.
The global key market players include: Amy's Kitchen, Beyond Meat Inc., Daiya Foods Inc., Danone S.A., Earth's Own Food Company Inc., Eat Just Inc., Field Roast, Gardein, Gold & Green Foods Ltd., Kellogg NA Co., Kraft Foods Inc., LikeMeat GmbH, Maple Leaf Foods, Moving Mountains, No Evil Foods, OmniFoods, Ripple Foods Inc., The Archer Daniels Midland Company, Tofutti Brands Inc.
Polaris market research has segmented the vegan steak market report based on source, distribution channel, end use, and region:
Vegan Steak, Source Outlook (Revenue - USD Million, 2023 - 2032)
Vegan Steak, Distribution Channel Outlook (Revenue - USD Million, 2023 - 2032)
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Platforms
- Others
Vegan Steak, End Use Outlook (Revenue - USD Million, 2023 - 2032)
- Packaged Food Industries
- Hotels and Restaurants
- Retail Food Shops
- Domestic Consumers
- Others
Vegan Steak, Regional Outlook (Revenue - USD Million, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Vegan Steak Market Insights
- 4.1. Vegan Steak Market - Distribution Channel Snapshot
- 4.2. Vegan Steak Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Awareness among Health-Conscious Consumers
- 4.2.1.2. Ethical and Animal Welfare Concerns
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Allergies and sensitivities associated with vegan meals are likely to hamper the growth of the global market
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Vegan Steak Market Distribution Channel Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Vegan Steak Market, by Source
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 5.3. Soy
- 5.3.1. Global Vegan Steak Market, by Soy, by Region, 2019-2032 (USD Million)
- 5.4. Almond
- 5.4.1. Global Vegan Steak Market, by Almond, by Region, 2019-2032 (USD Million)
- 5.5. Wheat
- 5.5.1. Global Vegan Steak Market, by Wheat, by Region, 2019-2032 (USD Million)
- 5.6. Others
- 5.6.1. Global Vegan Steak Market, by Others, by Region, 2019-2032 (USD Million)
6. Global Vegan Steak Market, by End Use
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 6.3. Packaged Food Industries
- 6.3.1. Global Vegan Steak Market, by Packaged Food Industries, by Region, 2019-2032 (USD Million)
- 6.4. Hotels and Restaurants
- 6.4.1. Global Vegan Steak Market, by Hotels and Restaurants, by Region, 2019-2032 (USD Million)
- 6.5. Retail Food Shops
- 6.5.1. Global Vegan Steak Market, by Retail Food Shops, by Region, 2019-2032 (USD Million)
- 6.6. Domestic Consumers
- 6.6.1. Global Vegan Steak Market, by Domestic Consumers, by Region, 2019-2032 (USD Million)
- 6.7. Others
- 6.7.1. Global Vegan Steak Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Vegan Steak Market, by Distribution Channel
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 7.3. Supermarkets & Hypermarkets
- 7.3.1. Global Vegan Steak Market, by Supermarkets & Hypermarkets, By Region, 2019-2032 (USD Million)
- 7.4. Convenience Stores
- 7.4.1. Global Vegan Steak Market, by Convenience Stores, By Region, 2019-2032 (USD Million)
- 7.5. Specialty Stores
- 7.5.1. Global Vegan Steak Market, by Specialty Stores, By Region, 2019-2032 (USD Million)
- 7.6. Online Platforms
- 7.6.1. Global Vegan Steak Market, by Online Platforms, By Region, 2019-2032 (USD Million)
- 7.7. Others
- 7.7.1. Global Vegan Steak Market, by Others, By Region, 2019-2032 (USD Million)
8. Global Vegan Steak Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Vegan Steak Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Vegan Steak Market - North America
- 8.3.1. North America: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.3.2. North America: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.3. North America: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.3.4. Vegan Steak Market - U.S.
- 8.3.4.1. U.S.: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.3.5. Vegan Steak Market - Canada
- 8.3.5.1. Canada: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4. Vegan Steak Market - Europe
- 8.4.1. Europe: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.2. Europe.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.3. Europe: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.4. Vegan Steak Market - UK
- 8.4.4.1. UK: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.4.3. UK: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.5. Vegan Steak Market - France
- 8.4.5.1. France: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.5.2. France.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.5.3. France: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.6. Vegan Steak Market - Germany
- 8.4.6.1. Germany: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.7. Vegan Steak Market - Italy
- 8.4.7.1. Italy: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.8. Vegan Steak Market - Spain
- 8.4.8.1. Spain: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.9. Vegan Steak Market - Netherlands
- 8.4.9.1. Netherlands: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.4.10. Vegan Steak Market - Russia
- 8.4.10.1. Russia: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5. Vegan Steak Market - Asia Pacific
- 8.5.1. Asia Pacific: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.4. Vegan Steak Market - China
- 8.5.4.1. China: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.4.2. China.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.4.3. China: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.5. Vegan Steak Market - India
- 8.5.5.1. India: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.5.2. India.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.5.3. India: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.6. Vegan Steak Market - Malaysia
- 8.5.6.1. Malaysia: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.7. Vegan Steak Market - Japan
- 8.5.7.1. Japan: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.8. Vegan Steak Market - Indonesia
- 8.5.8.1. Indonesia: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.5.9. Vegan Steak Market - South Korea
- 8.5.9.1. South Korea: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.6. Vegan Steak Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.6.4. Vegan Steak Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.6.5. Vegan Steak Market - UAE
- 8.6.5.1. UAE: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.6.6. Vegan Steak Market - Israel
- 8.6.6.1. Israel: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.6.7. Vegan Steak Market - South Africa
- 8.6.7.1. South Africa: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.7. Vegan Steak Market - Latin America
- 8.7.1. Latin America: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.3. Latin America: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.7.4. Vegan Steak Market - Mexico
- 8.7.4.1. Mexico: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.7.5. Vegan Steak Market - Brazil
- 8.7.5.1. Brazil: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
- 8.7.6. Vegan Steak Market - Argentina
- 8.7.6.1. Argentina: Vegan Steak Market, by Source, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Vegan Steak Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Vegan Steak Market, by End Use, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Amy's Kitchen
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Beyond Meat Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Daiya Foods Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Danone S.A.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Earth's Own Food Company Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Eat Just Inc
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Field Roast
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Gardein
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Gold & Green Foods Ltd.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Kellogg NA Co.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Kraft Foods Inc.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. LikeMeat GmbH
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Maple Leaf Foods
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Moving Mountains
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. No Evil Foods
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. OmniFoods
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. Ripple Foods Inc.
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development
- 10.18. The Archer Daniels Midland Company
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.18.4. Recent Development
- 10.19. Tofutti Brands Inc.
- 10.19.1. Company Overview
- 10.19.2. Financial Performance
- 10.19.3. Product Benchmarking
- 10.19.4. Recent Development