North America Plant-Based Ham Market

The North America plant-based ham market is expected to grow from US$ 170.65 million in 2022 to US$ 371.16 million by 2028. It is estimated to grow at a CAGR of 13.8% from 2022 to 2028.

Switch to Vegetarianism and Veganism is Driving the North America 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. According to a 2018 Gallup poll, 5% of adults in the US identified themselves as vegetarians. Based on the Harris Poll conducted on behalf of the Vegetarian Resource Group, as of March 2019, 2% of American citizens announced themselves as vegans. 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. The increasing adoption of veganism is also attributed to the empathy toward animals and awareness of the ill-treatment of animals in slaughterhouses and similar facilities, which has raised concerns about animal protection among consumers. These factors are boosting the consumption of plant-based ham. Thus, a switch to veganism and vegetarianism is bolstering the North America plant-based ham market.

North America Plant-Based Ham Market Overview

According to the “Plant Based Foods Association,” retail sales of plant-based foods in the US increased by 11% in 2019, compared to the sales reported in 2018, hitting a market value of US$ 4.5 billion. The high nutritional value of plant-based ham products, such as slices & strips, rolls, and roasts, has triggered their demand growth in North America over the last few years, especially among young adults. The North America plant-based ham market in North America comprises several start-ups and established players. Companies operating in the region include Hain Celestial Canada ULC; Tofurky Co., Inc.; Lightlife Foods Inc.; and Vbites Foods Ltd. The COVID-19 pandemic has favored the North America plant-based ham market growth in this region due to a shift in consumer preference toward healthier alternatives to conventional meat and meat products (processed meat) to avoid consuming food of animal origin. According to projections of the World Health Organization (WHO), those who consume ~14 pounds of red meat each day are at a 17% greater risk of developing colon cancer throughout their lifetime. Nevertheless, colon cancer is only one of several diseases that are linked to regular meat, pork, or beef intake. 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.

North America Plant-Based Ham Market Revenue and Forecast to 2028 (US$ Million)

North America Plant-Based Ham Strategic Insights

Strategic insights for the North America Plant-Based Ham provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Plant-Based Ham Report Scope

North America Plant-Based Ham Regional Insights

The geographic scope of the North America Plant-Based Ham refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Plant-Based Ham Market Segmentation

The North America plant-based ham market is segmented into product type, distribution channel, and country.

Based on product type, the North America plant-based ham market is segmented into slices and strips, rolls, and roasts. In 2022, the slices and strips segment registered a largest share in the North America plant-based ham market.

Based on distribution channel, the North America plant-based ham market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. In 2022, the supermarkets and hypermarkets segment registered a largest share in the North America plant-based ham market.

Based on country, the North America plant-based ham market is segmented into the US, Canada, and Mexico. In 2022, the US segment registered a largest share in the North America plant-based ham market.

Gourmet Evolution LLC; Hain Celestial Canada ULC; Lightlife Foods Inc; Nestle SA; Quorn Foods Ltd; Tofurky Co Inc; VBites Foods Ltd; and Worthington Food Inc are the leading companies operating in the North America plant-based ham market.