Mexico Plant-Based Meat Market - Industry Growth, Demand, Trends, Price, & Forecast To 2027

The best alternative to animal-based meats and seafood is plant-based meat. The types of products made from plant-based meat can be burger patties, sausages, chicken, scampi, prawns, tuna and salmon. The key ingredients used in making these healthy as well as delicious plant-based foods are peas, soy with oils, spices and a few more additions. The nutritional value of every product varies as per the different ingredients used in preparing them.

According to this report published by Actual Market Research titled “Mexico Plant-Based Meat Market Research Report, 2027”, the market is expected to grow with a CAGR of more than 15% by the forecasted period. Plant-based meats have been an excellent alternative to animal-based products and also these products have become the healthier choices for those who are vegan and who can’t consume meats. For these people, plant-based meats are an excellent option. The types of meats made plant-based are pork, fish, chicken and beef. Within these the plant-based chicken is supposed to grow with the highest share in the market by the end of the forecasted the year 2027.

Today consumers choose to eat more plant-based products, due to various reasons to improve their overall health like weight management, a desire for clean eating and to eat more sustainable products. The main reason behind consuming these products can be for reducing the consumption of animal meats. As per some researchers, it is said that more consumption of meat can be directly linked to the rise of obesity and also to an increase in cancer, stroke, and cardiovascular diseases in the body.

Soy as a source for plant-based meat has remained the most controversial ingredient on the market. Soy is a nutrient-rich source of protein that can be consumed several times a week. Some studies have found that it reduces hot flashes, lowers the risk of osteoporosis, and protects against hormonal cancers. While some studies have labelled soy as a highly processed food and warned of its health outcomes, Soy proteins are made either from soy protein isolate or soy protein concentrate. Soy was the first source from which plant-based meat was created. Its wide-scale use can be attributed to its appealing texture, taste, flavour, and protein sources. Furthermore, its ability to lower blood cholesterol propels its inclusion in an increasing number of meat products. The only restraining factor is its allergy potential for some consumers. In recent times, research and development to find alternatives to soy protein has increased market competitiveness.

Plant-based burger patties are the most savoured alternative by consumers across the world as burgers are a quick and satiating food to indulge in. Plant-based burger patties have replaced chicken burgers. It is a burger pattie that looks, tastes, and appears like beef. It is juicy, meaty, and delicious in taste. Burgers are the most loved fast food option among today’s Millennials, irrespective of age. Since soy is mainly used as a basic ingredient, it is gluten free, GMO free, and has no animal protein. It is assumed the first plant-based burger originated in 1980 in the Gardenhouse restaurant in Oregon. It started to pick up trend from 2012 in the United States.

Chicken is the most consumed meat form as it is easy to find and cheaper than other types. It tastes good and goes well with a variety of flavours, cooking methods, and recipes. It is also rich in iron, zinc, protein, and vitamin B and low in fat. Hence, chicken is the most consumed plant-based meat form by consumers. It can be made from pea, wheat, or soy protein with oils and other flavours. It is high in fibre, iron and low in cholesterol and saturated fats. However, it is suggested that you consume it in moderation as part of a balanced diet. Vegan chicken can be formed as burger patties, nuggets, sausages, or other snacking items.

The pandemic affected the food industry and food manufacturing and processing industries with imposed lockdowns. However, apart from the unavailability of raw materials and labour, it increased the demand for plant-based meat as consumers demanded faux meat. They wanted to avoid any products of animal origin due to the fear of the pandemic. Since consumer movements were restricted and food could be delivered to their door, sales through the online sales channel increased twofold. Also, consumers wanted to boost their immunity power by enriching their diets with fibres, vitamin C, iron, and foods that contained low levels of saturated fats. After the pandemic, with the rise in demand, the manufacturers started innovating more to launch new varieties in the market and promote the plant-based meat products more.

Considered in this report
Geography: Mexico
Base year:  2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
Mexico Plant-Based meat products market with its value and forecast along with its segments
Various drivers and challenges
On-going trends and developments
Five force models
Top profiled companies
Strategic recommendation

By Source in the report
Soy
Pea
Wheat
Others (quinoa, oats, hemp, others)

By Product in the report
Burger Pattie
Sausages
Strips & Nuggets
Meatballs
Others

By Type of meat in the report
Beef
Chicken
Pork
Fish
Others (lamb & turkey)

By End-user
Retail
HoReCa

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Plant-Based meat industry, food and other related industries and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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