Plant-Based Ham

Plant-Based Ham

Plant-based ham products are made from a variety of plant-based ingredients such as soy, wheat, pea protein, and other vegetables and grains. The plant-based ham market refers to the market for meatless or vegan alternatives to traditional ham made from animal products. The demand for plant-based meat alternatives, including plant-based ham, has been growing in recent years, driven by factors such as health and environmental concerns, animal welfare, and changing consumer preferences.

The Plant-Based Ham Market is expected to grow at a strong CAGR of 12.5% during the forecast period owing to the rising awareness of the health benefits associated with plant-based food. Moreover, the plant-based ham market is still relatively small compared to the traditional meat market, but it is growing rapidly as more consumers embrace plant-based diets and companies continue to innovate and improve their products that drive the market. For instance, in 2022, Continental Coffee (CCL) ventured into the frozen foods category with the launch of plant-based meat products with its 'Continental Greenbird brand.

• Based on the product, the market is segmented into slices and strips, rolls, and roasts. Amongst these, the slices and strips segments dominated the market in 2021. This is attributed to the wide range of consumption of plant-based ham filling in salads, sandwiches, and similar food items. Also, the plant-based slices are a great alternative to meat and give an extra flavor boost to the foods that drive the segment.
• By distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment is expected to grow with significant CAGR during the forecast period. This is mainly due to many major supermarket chains now offer a range of plant-based meat products, including ham substitutes, in response to growing consumer demand. This has also led to an increase in the number of dedicated plant-based stores and online retailers that specialize in selling plant-based products.
• For a better understanding of the market adoption of the Plant-based ham industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Netherlands, France, Norway, Switzerland, Denmark, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. Europe dominated the plant-based ham market in 2020 due to increasing demand for meat alternatives has continued to drive the development and popularity of plant-based ham products in Europe. In recent years, there has been a surge in the availability and variety of plant-based ham products in Europe, with more companies entering the market and existing companies expanding their product offerings. This has resulted in increased competition and innovation in the plant-based ham industry, leading to further growth and development of the market.
• Some of the major players operating in the market include The Hain Celestial Group, Inc.; Tofurky, Lightlife Foods, Inc.; VBites Foods Ltd; Nestlé; Meliora Foods Pty Ltd; Quorn; Gourmet Evoution; WORTHINGTON; mantraplantbased.