Global Plant-based Nuggets Market: Overview
In the last few years, the global plant-based nuggets market has been gaining substantial traction amongst the health-conscious population. These nuggets come with texture and taste similar to that to meat-based nuggets. There has been a huge shift in the eating habit of the people with more people opting for vegetarian or plant-based meat items, which is likely to play an important role in the growth of the global plant-based nuggets market over the timeframe of analysis, from 2020 to 2030. There has been a rise in the flexitarian as well as vegan population, which is likely to drive the demand for such plant-based meat products in the years to come.
A rise in the incidences of lactose intolerance is likely to emerge as another growth factor for the market. Incidences of lactose intolerance are pushing many toward adoption of plant-based as substitutes of dairy-based milk items. This factor is likely to support growth of the global plant-based nuggets market over the tenure of projection, from 2020 to 2030.
Distribution channel, source, product type, and region are four vital market factors based on which the global plant-based nuggets market has been classified.
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Global Plant-based Nuggets Market: Notable Developments
Some relevant and futuristic developments pertaining to the global plant-based nuggets market have taken place in the last few years.
- In January 2018, Canada-based consumer packaged meats company, Maple Leaf Foods, made acquisition of Field Roast Grain Meat Co. The latter is a plant-based company headquartered in Seattle, the US and produces vegan cheese and grain-based meat food items. With this acquisition, it is expected that Maple Leaf Food will make a leap toward attaining the status of one of the most sustainable protein company. With this more, Maple Leaf Food will also be able to diversify its product portfolio in the years to come.
Some of the prominent companies in the global plant-based nuggets market are mentioned below:
- Kraft Foods, Inc
- Maple Leaf Foods Inc.
- The Vegetarian Butcher
- Beyond Meat
- Tyson Foods, Inc.
- Heura Foods
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Global Plant-based Nuggets Market: Key Trends
The global plant-based nuggets market is marked with the presence of the following challenges, promising opportunities, and market drivers.
Growing Awareness about Animal Cruelty and Healthy Lifestyle to Accentuate Demand in the Market
These days, consumers have become more conscious about what to eat and when to eat, what to avoid, and so on. The growing need to lead a healthy and fit lifestyle has gained immense popularity. In addition to that, extensive and repetitive campaigns about animal cruelty have created negative impact about eating meat, which has led many consumers move toward plant-based meat products. These factors are likely to foster growth of the global plant-based nuggets market over the timeframe of assessment, from 2020 to 2030.
Eating vegan and vegetarian food have gained immense popularity as many people consider eating meat as an unhealthy food option. It is widely believed that high-fiber diet is capable of keeping gut lining healthy and strong, which prevents the chances of allergic reactions due to the food ingested. With such benefits, more consumers are expected to make a switch toward plant-based meat products. These factors are estimated to work in favor of the global plant-based nuggets market in the years to come.
Global Plant-based Nuggets Market: Geographical Analysis
In the global plant-based nuggets market, Europe is likely to come up as one of the leading regions in the market accounting for a sizeable chunk of the market, both in terms of volume and market share. Presence of a huge base of consumers with vegan and vegetarian diets in the region is likely to augur well for the market in Europe. Stringent government regulations toward prevent of animal cruelty is likely to emerge as another important growth factor for the plant-based nuggets market in Europe.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.