Meat Substitutes - Bulgaria | Statista Market Forecast

Revenue in the Meat Substitutes Market is projected to reach US$3.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.78%, resulting in a projected market volume of US$6.48m by 2029.
With a projected market volume of US$1.79bn in 2024, most revenue is generated China.
In the Meat Substitutes Market, the number of users is expected to amount to 232.4k users by 2029.
User penetration will be 3.2% in 2024 and is expected to hit 3.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$19.64.

Definition:

eCommerce Meat Substitutes market refers to the online buying and selling of plant-based food products that replicate the taste, texture, and appearance of meat. These substitutes are usually made from ingredients like soy, wheat gluten, or pea protein, providing a viable alternative to traditional meat for vegans, vegetarians, and flexitarians. Consumers can explore a variety of options such as burgers, sausages, chicken nuggets, and more, all tailored to mimic the flavor and experience of meat-based products. The eCommerce Meat Substitutes market offers convenient access to these plant-based alternatives, allowing customers to easily purchase and have them delivered to their doorstep.

Additional information: eCommerce Meat Substitutes comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues are including VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B and reCommerce is not included.

Key players in the market are companies, such as Beyond Meat, Impossible Foods, and Quorn Foods.

Market numbers for the total market sizes (online + offline) can also be found on the respective pages of the Consumer Market Insights.

Meat substitutes, such as Beyond Meat, are popular choices in the online market

Offline revenues, such as sales in grocery stores and restaurants

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Global Consumer Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Ecommerce market, in a PDF format.