Plant-based Meatballs Market Size - By Source (Soy-Based, Pea-Based, Wheat-Based), By Packaging (Frozen, Refrigerated, Shelf-Stable), By Distribution Channel (Supermarkets, Specialty Stores, Online Retail, Foodservice Providers) & Global Forecast, 2023 -

Plant-based Meatballs Market Size - By Source (Soy-Based, Pea-Based, Wheat-Based), By Packaging (Frozen, Refrigerated, Shelf-Stable), By Distribution Channel (Supermarkets, Specialty Stores, Online Retail, Foodservice Providers) & Global Forecast, 2023 - 2032

Plant-based Meatballs Market size is poised to witness 14.9% CAGR from 2023 to 2032 owing to the expanding population of vegans, vegetarians, and flexitarians across the globe. The rising consumer adoption of plant-based diets for health, environmental, and ethical reasons has created larger customer base for plant-based meat products, including meatballs. This has significantly increased the demand for meatball alternatives, driving innovations and product varieties to cater to diverse dietary preferences.

Moreover, continuous R&D efforts are yielding remarkable breakthroughs, resulting in plant-based meatballs that closely mimic the taste, texture, and even appearance of traditional meatballs. For instance, in February 2023, Irish meat producer ABP Group added No-Beef Balls and No-Beef Mince, made from pea protein to its plant-based Dopsu range. The emergence of cutting-edge food technologies, such as protein isolates, textured vegetable proteins, and advanced flavoring techniques will also augment the overall market outlook.

The overall plant-based meatballs market is segmented in terms of source, packaging, distribution channel, and region.

Based on source, the wheat-based plant-based meatballs market size is poised to gain momentum through 2032 owing to advantages, such as high proteins and low saturated fats to cater to rising number of health-conscious individuals. Moreover, these meatballs are largely preferred as they align with the growing global trend towards reducing meat consumption to combat environmental issues. The surge in innovations and investments in wheat-based meatball production technologies is also anticipated to fuel the segment growth.

In terms of packaging, the refrigerated plant-based meatballs industry is likely to register immense traction between 2023 and 2032. Refrigerated packaging enhances product freshness and extends the shelf life of the meatballs, further addressing the crucial consumer concerns regarding quality and convenience. Additionally, the surging preference for eco-friendly refrigerated packaging materials will bolster the market growth.

Asia Pacific plant-based meatballs market is expected to witness robust growth through 2032. The ongoing shift of dietary preferences towards healthier and more sustainable choices among consumers is contributing to the increasing acceptance of plant-based options. Furthermore, the availability of diverse plant-based ingredients and culinary traditions in the region has paved way for innovative and culturally tailored plant-based meatball offerings. Moreover, manufacturers are collaborating with universities, government organizations, as well as research and development teams to create new products, further boosting the market growth. To cite an instance, in January 2023, WTH Foods, a plant-based meat company based in the Philippines, launched Umani, a new line of frozen plant-based products inspired by Filipino culture.