Global Veggie Burger Market Overview
Veggie Burger Market Size was estimated at 14.74 (USD Billion) in 2022. The Veggie Burger Market Industry is expected to grow from 18.07(USD Billion) in 2023 to 113.0 (USD Billion) by 2032. The Veggie Burger Market CAGR (growth rate) is expected to be around 22.59% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Veggie Burger Market Trends Highlighted
The sales of plant-based meat substitutes such as veggie burgers are increasing in the market due to a number of primary factors. New trends such as environmental awareness, the health of the consumers, and the increasing number of flexitarians add hope to this market. Veggie burgers give the consumers who are reducing meat intake an outlet as they prefer a less meat centered option. The practicality and flexibility of veggie burgers also enhance their popularity where busy people looking for healthy and quick-to-prepare meals are targeted. Therefore, the veggie burger market is expected to grow quite rapidly over the next years. Players in the market have to meet these consumer evolution’s changes so as not to lose out to competition and take advantage of the market openings provided by these trends.’
Veggie Burger Market Drivers
Rising Health Consciousness and Preference for Plant-Based Diets
Increasing health awareness and the growing popularity of plant-based diets have emerged as significant drivers of the Veggie Burger Market Industry. Consumers are actively seeking healthier alternatives to meat products, viewing veggie burgers as a nutritious and ethical choice. The rising prevalence of chronic diseases, such as heart disease, obesity, and diabetes, has fueled the demand for plant-based protein sources perceived to be healthier than traditional meat-based options.Moreover, the growing vegan and vegetarian population, along with flexitarian lifestyles, has further stimulated the demand for veggie burgers as a convenient and tasty way to incorporate plant-based proteins into their diets.
Expansion of the food service industry
The Veggie Burger Market Industry has been driven by the expansion of the foodservice industry, particularly of the QSR segment. Fast-food chains and casual dining restaurants have increasingly included veggie burgers in their menus, considering the rising demand for plant-based products. The convenience and accessibility of these food options among consumers who want a quick meal and have no time or desire for long-time cooking are the main market drivers.Moreover, the increasing popularity of food delivery services has contributed to the expansion of the veggie burger market.
Innovation and Product Development
Continuous innovation and the introduction of new products have been instrumental in driving the Veggie Burger Market Industry. Manufacturers are investing in research and development to enhance the taste, texture, and nutritional content of veggie burgers. The use of novel ingredients, such as pea protein, lentils, and mushrooms, has resulted in the creation of veggie burgers that closely mimic the taste and texture of meat-based burgers. Furthermore, the fortification of veggie burgers with essential nutrients, such as vitamins, minerals, and fiber, has increased their appeal among health-conscious consumers.
Veggie Burger Market Segment Insights
Veggie Burger Market Type Insights
The Veggie Burger Market is segmented by type into frozen veggie burgers, chilled veggie burgers, fresh veggie burgers and shelf-stable veggie burgers. For each segment, information and data are provided concerning the respective market size and sales volume, its market structure, level of competition and development prospects. As announced above, the frozen veggie burgers segment constituted the market leader, with around 40% of the market size in 2023. It is expected that the dominance of this segment will continue throughout the forecast period.The popularity of frozen veggie burgers is explained through the advantages of a long shelf life and a variety of flavors and textures available. Another factor favoring the segment’s growth is the convenience of the product. While only representing a market size of 25% in 2023 concerning sales volume, the chilled veggie burgers segment is forecasted to be the most prosperous market segment during the forecasted period. This is to be attributed to the increasing demand for fresh food and a healthy lifestyle as well as the rising trend of a vegan lifestyle.The level of convenience of the product is lower in comparison to its frozen counterpart because of the long shelf life of frozen veggie burgers, which are made of various types of processed products. However, this product is frequently made of fresh, whole products and of locally and seasonally sourced products and is thus the richest and most flavorsome product. It is usually offered at the farmers’ market, health food stores and some supermarkets. While the fresh veggie segment and the shelf-stable veggie segment are expected to show a moderate tendency of growth during the forecasted period, the overall Veggie Burger Market is expected to grow substantially.This is to be attributed to the increasing interest in plant food products, the growing popularity of a healthy lifestyle and the expanding number of distributional channels concerning veggie burger products.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Veggie Burger Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Veggie Burger Market. Supermarkets/Hypermarkets hold a significant market share, offering a wide variety of veggie burgers to cater to the growing consumer demand for convenient and healthy food options. In 2023, the Supermarkets/Hypermarkets segment accounted for approximately 45% of the Veggie Burger Market revenue. Convenience stores are also gaining traction, providing quick and easy access to veggie burgers for consumers on the go. Online retailers have emerged as a rapidly growing distribution channel, offering a vast selection of veggie burgers and enabling consumers to purchase from the comfort of their homes.In 2024, the Online Retailers segment is projected to experience substantial growth, driven by the increasing popularity of e-commerce and the convenience it offers. Specialty health food stores cater to consumers seeking specialized and organic veggie burger options, contributing to the overall market growth. Fast Food Restaurants are another important distribution channel, offering veggie burgers as part of their menu to meet the evolving dietary preferences of their customers. The Fast Food Restaurants segment is expected to witness steady growth in the coming years as more consumers opt for healthier and plant-based fast food options.
Veggie Burger Market Ingredient Insights
Soy-Based Veggie Burgers held the largest market share in 2023, accounting for over 40% of the Veggie Burger Market revenue. This is due to the high protein content and versatility of soy, which makes it a popular choice for vegetarians and vegans. Chickpea-based Veggie Burgers are expected to witness the fastest growth over the forecast period, owing to the rising demand for gluten-free and low-carb options. Quinoa-based Veggie Burgers are also gaining popularity due to their high nutritional value and unique flavor. Lentil-Based Veggie Burgers and Black Bean-Based Veggie Burgers are expected to have a steady growth rate over the forecast period, as they offer a good source of protein and fiber.The increasing demand for plant-based protein alternatives, coupled with the growing awareness about the health benefits of vegetarian and vegan diets, is driving the growth of the Veggie Burger Market.
Veggie Burger Market Flavor Insights
The Veggie Burger Market is expected to witness significant growth in the upcoming years. In terms of flavor, Plain Veggie Burgers hold a considerable market share due to their classic and versatile nature. Seasoned Veggie Burgers follow closely, offering a variety of herbs and spices to enhance taste. Spicy Veggie Burgers are gaining popularity among those seeking a bolder flavor profile. Smoked Veggie Burgers provide a unique smoky flavor that appeals to barbecue enthusiasts. Gourmet Veggie Burgers offers a premium experience with complex flavor combinations and high-quality ingredients, attracting health-conscious consumers seeking indulgence.The market growth for these flavor segments is driven by changing consumer preferences, increasing demand for plant-based alternatives, and product innovation by manufacturers. Overall, the Flavor segment offers a wide range of options to cater to diverse consumer tastes and preferences, contributing to the overall growth of the Veggie Burger Market.
Veggie Burger Market Price Range Insights
The price range segment plays a pivotal role in understanding consumer preferences and market dynamics within the Veggie Burger Market. The segmentation includes 'Economy Veggie Burgers', 'Mid-Priced Veggie Burgers', and 'Premium Veggie Burgers'. 'Economy Veggie Burgers' cater to value-conscious consumers seeking affordable options. This segment accounted for a revenue of USD 4.5 billion in 2023 and is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 13.2%. Its growth is driven by the increasing popularity of plant-based diets and the expansion of retail channels offering budget-friendly veggie burger options.'Mid-Priced Veggie Burgers' targets mainstream consumers seeking a balance between affordability and quality. This segment held a revenue share of around 37% in 2023 and is expected to reach USD 32 billion by 2032, growing at a CAGR of 14.8%. Its growth is attributed to the rising demand for healthier and more flavorful veggie burger options. 'Premium Veggie Burgers' cater to discerning consumers seeking gourmet and innovative veggie burgers. This segment generated a revenue of USD 3.2 billion in 2023 and is projected to reach USD 14 billion by 2032, exhibiting a CAGR of 19.2%.Its growth is driven by the increasing popularity of plant-based gourmet burgers and the expansion of upscale restaurants and food service chains.
Veggie Burger Market Regional Insights
The regional segmentation of the Veggie Burger Market provides insights into the market's geographic distribution and growth patterns. North America holds a significant market share due to the increasing popularity of plant-based diets and the presence of major players in the region. Europe follows closely, driven by rising health consciousness and government initiatives promoting sustainable food consumption. The APAC region is projected to witness substantial growth over the forecast period, owing to the growing middle class and increasing awareness of the environmental benefits of plant-based foods.South America and MEA are expected to contribute moderately to the overall market growth, with increasing urbanization and changing consumer preferences.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Veggie Burger Market Key Players And Competitive Insights
Major players in the Veggie Burger Market industry strive to outpace rivals by deploying advanced technologies and constantly enhancing their product portfolios to meet the evolving preferences of health-conscious consumers. Leading Veggie Burger Market players engage in strategic partnerships, acquisitions, and collaborations to expand their footprint and strengthen their market positions. The Veggie Burger Market development landscape is characterized by ongoing research and innovation, with companies investing heavily in developing novel plant-based ingredients and formulations to cater to the growing demand for sustainable and ethical food options. The competitive landscape remains dynamic, with new entrants emerging and established players vying for market share through aggressive marketing campaigns and targeted product launches.Beyond Meat, a leading player in the Veggie Burger Market industry has established a strong presence ly through its innovative plant-based meat alternatives. The company's commitment to sustainability and its focus on replicating the taste and texture of traditional meat products have resonated with consumers seeking healthier and environmentally friendly options. Beyond Meat has forged partnerships with major restaurant chains and retailers to distribute its products, expanding its reach and building brand recognition.In contrast, Impossible Foods, a key competitor in the Veggie Burger Market space, has gained significant traction with its flagship product, the Impossible Burger. The company's proprietary heme technology imparts a meat-like flavor and texture, appealing to flexitarian and meat-loving consumers alike. Impossible Foods has strategically partnered with renowned chefs and culinary experts to showcase the versatility and culinary applications of its plant-based meat alternatives. The company's focus on innovation and its commitment to delivering a "bleeding" burger experience has positioned it as a formidable player in the market.
Key Companies in the Veggie Burger Market Include
- Praeger's Sensible Foods
- Beyond Meat
- Tyson Foods
- Tofutti Brands
- Gardein
- Kraft Heinz
- Unilever
- Maple Leaf Foods
- Quorn Foods
- Nestlé
- Mondelez International
- Amy's Kitchen
- Impossible Foods
- Kellogg's MorningStar Farms
- Hain Celestial Group
Veggie Burger Market Industry Developments
The veggie burger market is anticipated to grow rapidly in the coming years, driven by increasing demand for plant-based meat alternatives. In 2023, the market was valued at USD 18.07 billion, and it is projected to reach USD 113.0 billion by 2032, exhibiting a CAGR of 22.59% during the forecast period (2024-2032).Recent news developments and current affairs in the veggie burger market include Rising popularity of plant-based diets Consumers are increasingly adopting plant-based diets due to health and environmental concerns, which is driving demand for veggie burgers. Innovation in product offerings Veggie burger manufacturers are continuously innovating their products to improve taste, texture, and nutritional value. This is leading to the introduction of new and improved veggie burger options in the market. Expansion of distribution channels Veggie burgers are becoming more widely available through various distribution channels, including supermarkets, hypermarkets, and online retailers. This is making veggie burgers more accessible to consumers. Strategic partnerships and acquisitions Companies in the veggie burger market are forming strategic partnerships and acquisitions to expand their market reach and product offerings. For instance, in 2023, Nestlé acquired plant-based food company Terra Foods to strengthen its position in the veggie burger market.
Veggie Burger Market Segmentation Insights
- Veggie Burger Market Type Outlook
- Frozen Veggie Burgers
- Chilled Veggie Burgers
- Fresh Veggie Burgers
- Shelf-Stable Veggie Burgers
- Veggie Burger Market Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retailers
- Specialty Health Food Stores
- Fast Food Restaurants
- Veggie Burger Market Ingredient Outlook
- Soy-Based Veggie Burgers
- Chickpea-Based Veggie Burgers
- Quinoa-Based Veggie Burgers
- Lentil-Based Veggie Burgers
- Black Bean-Based Veggie Burgers
- Veggie Burger Market Flavor Outlook
- Plain Veggie Burgers
- Seasoned Veggie Burgers
- Spicy Veggie Burgers
- Smoked Veggie Burgers
- Gourmet Veggie Burgers
- Veggie Burger Market Price Range Outlook
- Economy Veggie Burgers
- Mid-Priced Veggie Burgers
- Premium Veggie Burgers
- Veggie Burger Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.74(USD Billion) |
| Market Size 2023 |
18.07(USD Billion) |
| Market Size 2032 |
113.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
22.59% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Dr. Praeger's Sensible Foods, Beyond Meat, Tyson Foods, Tofutti Brands, Gardein, Kraft Heinz, Unilever, Maple Leaf Foods, Quorn Foods, Nestlé, Mondelez International, Amy's Kitchen, Impossible Foods, Kellogg's MorningStar Farms, Hain Celestial Group |
| Segments Covered |
Type, Distribution Channel, Ingredient, Flavor, Price Range, Regional |
| Key Market Opportunities |
Vegan trend Rising health consciousness Innovation in flavor profiles |
| Key Market Dynamics |
Rising vegan population Growing health awareness Increasing demand for plant-based foods Innovation in flavors and ingredients Expansion of distribution channels. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Veggie Burger Market is expected to reach a valuation of USD 18.07 billion in 2023, expanding to USD 113.0 billion by 2032, exhibiting a CAGR of 22.59% during the forecast period.
North America currently dominates the Veggie Burger Market and is expected to maintain its leading position throughout the forecast period. The region's well-established vegan and vegetarian population, coupled with the growing awareness of health and environmental concerns, drives market growth.
Veggie burgers find applications in various food service channels, including quick-service restaurants (QSRs), casual dining restaurants, and fine dining establishments. They are also gaining popularity in the retail sector, where they are sold in supermarkets, hypermarkets, and convenience stores.
Major players in the Veggie Burger Market include Amy's Kitchen, Beyond Meat, Dr. Praeger's, Gardein, Impossible Foods, Kellogg Company, Kraft Heinz, Maple Leaf Foods, Monde Nissin, and Nestlé.
The rising demand for plant-based meat alternatives, increasing health consciousness, and growing vegan and vegetarian populations are driving the growth of the Veggie Burger Market.
The high cost of production and limited availability of raw materials can pose challenges to the growth of the Veggie Burger Market. Additionally, the market faces competition from traditional meat burgers and other plant-based meat alternatives.
The Veggie Burger Market is expected to witness significant growth in the coming years, driven by the increasing adoption of plant-based diets and the growing popularity of vegan and vegetarian lifestyles.
The Veggie Burger Market is projected to expand at a CAGR of 22.59% during the forecast period from 2024 to 2032.
The growing awareness of the environmental impact of meat production, concerns about animal welfare, and the health benefits associated with plant-based diets are contributing to the increasing popularity of Veggie Burgers.
The increasing demand for clean-label and sustainable food products, the development of new and innovative Veggie Burger products, and the expansion of the market into emerging economies are key trends shaping the Veggie Burger Market.
