Plant-Based Ham Market Demand, Size and Forecast 2022-2028

Plant-Based Ham Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Slices and Strips, Rolls, and Roasts) and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

Publication Month : Jan 2023

  • Report Code : TIPRE00029788
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 138
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The plant-based ham market size is expected to grow from US$ 494.17 million in 2022 to US$ 1,010.45 million by 2028; it is estimated to grow at a CAGR of 12.7% from 2022 to 2028.

People are rapidly switching to plant-based meat products due to the rising awareness about the negative effects of meat consumption and the livestock industry on the environment, and the ill effects of consuming processed meat products on health. The production of plant-based ham products can help minimize carbon footprints, save water and other natural resources, and reduce the overall environmental impact. These factors are primarily driving the growth of the plant-based ham market.

In 2021, Europe held the largest share of the plant-based ham market. However, North America is estimated to register the highest CAGR during the forecast period. The high nutritional value of plant-based ham products, including slices & strips, rolls, and roasts, has triggered their demand in North America over the last few years, especially among young adults. The plant-based ham market in North America comprises several start-ups and established players. Hain Celestial Canada ULC; Tofurky Co., Inc.; Lightlife Foods Inc.; and Vbites Foods Ltd. are a few companies operating in the region. In addition, people from North American countries are well aware of the harmful effects of frequent meat consumption due to significant public awareness initiatives and publicity campaigns. The rising vegan population is another factor boosting the demand for plant-based ham products in North American countries.

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Plant-Based Ham Market: Strategic Insights

plant-based-ham-market
Market Size Value inUS$ 494.17 Million in 2022
Market Size Value byUS$ 1,010.45 Million by 2028
Growth rateCAGR of 12.7% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Plant-Based Ham Market

During the initial phase of the COVID-19 pandemic, the demand for plant-based ham increased considerably due to a significant shift in the dietary preference of consumers. The World Health Organization (WHO) published a guideline on food products that should be consumed or avoided during the COVID-19 pandemic. The guideline suggested limiting red meat consumption due to its high percentage of saturated fats. Moreover, people focused on reducing their overall meat consumption and shifted to vegetarian and vegan diets to improve their immunity, which created a massive demand for alternate proteins, including plant-based ham. However, manufacturing units were compelled to keep shut in 2020 and early 2021, leading to a decline in production. Small and medium-sized manufacturers faced significant challenges due to raw material shortages and low inventory levels. This created a gap between the demand and supply sides.

Rising health consciousness among the population and growing awareness regarding environmental sustainability and animal welfare were key factors that propelled the growth of the plant-based ham market before the onset of the COVID-19 pandemic. According to the International Food Information Council (IFIC) report published in January 2020, 45% of surveyed consumers believed plant-based meat products are healthier than animal meat, on the basis of the ‘Nutrition Facts’ label. However, after COVID-19 outbreak in 2020, food & beverages and many other industries faced unpredictable challenges as they struggled through supply chain constraints due to lockdowns, trade bans, and travel restrictions. Supply chain disruptions led to a shortage of raw materials, leading to a surge in raw material prices. According to the United States Department of Agriculture (USDA), disruptions in supply chains soared the prices of pea protein, which is one of the common ingredients used in plant-based ham. Moreover, difficulties pertaining to container transportation during the initial months of the COVID-19 pandemic contributed to a spike in prices of pea protein isolate from US$ 3.40/kg to over ~US$ 5.00/kg.

In 2021, various economies resumed operations as governments revoked the restrictions. Manufacturers were allowed to operate at full capacities, which helped them overcome the demand–supply gap and mitigate other repercussions. Moreover, a large percentage of citizens of several countries were fully vaccinated by the end of 2021. These factors are expected to provide profitable growth opportunities to plant-based ham producers in the coming years.

Plant-Based Ham Market Breakdown, by Region

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Market Insights

Strategic Developments by Key Market Players to Drive Plant-Based Ham Market During Forecast Period

In September 2022, Quorn Foods Ltd launched vegan deli slices range named Yorkshire Ham, Finely Sliced Ham, and Roast Beef or Roast Chicken Style Slices. The products are ready-to-eat meat-style slices, ideal for sandwiches, salads, and wraps.

Product Type Insights

Based on product type, the plant-based ham market is segmented into slices and strips, rolls, and roasts. The slices and strips segment held the largest market share in 2021. However, the roasts segment is expected to register the highest CAGR from 2022 to 2028. The sliced form of plant-based ham provides a tender mouthfeel. These slices warm faster due to the large, exposed surface area and release flavors distinctly when used in food preparations. Moreover, due to their wide consumption range, plant-based ham slices and strips are broadly available through various distribution channels. These factors are significantly driving the market growth in the segment.

Plant-Based Ham Market, by Product Type – 2021 and 2028

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Distribution Channel Insights

Based on Distribution Channel, the plant-based ham market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held the largest market share in 2021, whereas the online retail segment is projected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are large retail establishments that offer a wide variety of food and beverages, groceries, and other consumer goods. Products from various brands are organized into separate sections for convenient shopping. Moreover, supermarkets and hypermarkets focus on maximizing product sales to increase profit margins. Therefore, these stores offer attractive discounts, multiple payment options, and a better customer experience.

Hain Celestial Canada ULC; Tofurky Co., Inc.; Lightlife Foods, Inc.; Vbites Foods, Ltd.; Nestle SA; Quorn Foods Ltd.; Meliora Foods Pty Ltd.; Zebra Food Ltd.; Gourmet Evoution, LLC; and Worthington Food Inc. are a few major players operating in the plant-based ham market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.

Report Spotlights

  • Progressive industry trends in the plant-based ham market to help companies develop effective long-term strategies
  • Business growth strategies adopted by the plant-based ham market players in the developed and developing countries
  • Quantitative analysis of the market from 2020 to 2028
  • Estimation of global demand for plant-based ham
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the plant-based ham market
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the plant-based ham market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
  • Size of the plant-based ham market at various nodes
  • Detailed overview and segmentation of the market, and growth dynamics of the plant-based ham industry
  • Size of the plant-based ham market in various regions with promising growth opportunities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global plant-based ham market?

The major players operating in the global plant-based ham market are Hain Celestial Canada ULC; Tofurky Co., Inc.; Lightlife Foods, Inc.; Vbites Foods, Ltd.; Nestle SA; Quorn Foods Ltd.; Meliora Foods Pty Ltd.; Zebra Food Ltd.; Gourmet Evoution, LLC; and Worthington Food Inc.

What are the opportunities for plant-based ham in the global market?

Plant-based ham is gaining huge traction across European countries as consumers in the region are reducing their meat, pork, and beef consumption in an attempt to lead a sustainable and healthy life. According to Finder.com Comparison UK Limited, as of 2022, 14% of adults in the UK (7.2 million) are following a meat-free diet. Moreover, consumers in developed countries pay more attention to product labels and ingredients used in processed food products. Plant-based, and organic products are gaining popularity owing to their perceived health benefits.

Based on the product type, why is the slices and strips segment hold the largest revenue share?

Based on product type, slices and strips segment holds the largest revenue share. Plant-based ham strips are consumed as side dishes, usually during breakfast, but can also be added cold to salads or vegetable stir-fry. Moreover, due to their wide consumption, plant-based ham slices and strips are broadly available through various distribution channels.

What is the largest region of the global plant-based ham market?

Europe accounted for the largest share of the global plant-based ham market. Europe is one of the most significant regions for the plant-based ham market due to consumer inclination toward plant-based products. The shift in preference from animal-based diet to plant-based diet has led to the consumers in the UK seeking proteins sourced from plants. The popularity of these products is evident through trends in retail chains, and hospitality sector in the UK.

Based on the distribution channel, which segment is projected to grow at the fastest CAGR over the forecast period?

Based on the distribution channel, online retail segment is projected to grow at the fastest CAGR over the forecast period. The growth of this segment can be attributed to several benefits, such as convenience in shopping, ease of buying remotely, and product delivery.

What are the key drivers for the growth of the global plant-based ham market?

Many dieticians and health practitioners recommend reducing meat consumption and switching to a vegetarian diet to reduce the risks of chronic health issues, such as obesity, heart diseases, hypertension, and digestive disorders. Recently, the rising health concerns among people due to the increasing prevalence of obesity, diabetes, and other diseases are compelling people to change their dietary habits. Plant-based ham is generally perceived to be healthier than their animal-based counterparts. Plant-based ham has lower saturated fat and calorie content than conventional ham. These factors are boosting the consumption of plant-based ham.

The List of Companies - Plant Based Ham Market

  1. Hain Celestial Canada ULC
  2. Tofurky Co Inc
  3. Lightlife Foods Inc
  4. VBites Foods Ltd
  5. Nestle SA
  6. Quorn Foods Ltd
  7. Meliora Foods Pty Ltd
  8. Gourmet Evoution LLC
  9. Worthington Food Inc
  10. Mantra Food Thailand Co Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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