According to a report by Future Market Insights, the plant-based sausage market is set to increase in value from $1,228.1 million in 2023 to $12,936.9 million by 2033. This represents a huge CAGR of 26.5%.
A key driver will be the improved taste and texture of plant-based sausages, which the report says makes them increasingly indistinguishable from meat. Furthermore, many consumers view meat-free sausages as a healthier option, as they are cholesterol-free and typically lower in saturated fat than conventional sausages.
Increased concern about animal welfare and the environment is another market driver. Finally, plant-based sausages are seen as a convenient option, as they can be cooked quickly and easily. All these drivers are expected to continue over the forecast period.
However, several factors could restrain the market. For example, plant-based products are sometimes more expensive than meat, deterring price-conscious consumers. Additionally, the availability of plant-based sausages may be limited in some regions, with less variety than traditional sausages.
In some countries, meat alternatives are also facing legal challenges that may restrict the way they can be labeled or marketed, reducing companies’ ability to promote their products.
Awareness and innovation
By region, North America and Europe currently dominate the plant-based sausage market. However, other regions such as the Asia Pacific are also expected to see significant growth as consumer awareness increases and more products become available.
In the medium to long term, leading producers of plant-based sausages are expected to invest significantly in developing new products, while government initiatives could support further innovation.
“The growing acceptance of plant-based sausages is mostly influenced by convenience, ecological, ethical, and health considerations,” says the report. “In the upcoming years, these trends are probably going to persist.”