Global Vegan Steak Market Size Is Anticipated To Acquire USD 5.99 Billion By 2034 With A CAGR Of 14.78%

(MENAFN- GlobeNewsWire - Nasdaq) The global vegan steak market size is projected to reach USD 5.99 billion by 2034 from its value of USD 1.99 billion in 2024, at a CAGR of 14.78% during the forecast period.

NEW YORK, USA, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled“ Vegan Steak Market By Source (Soy, Almond, Wheat, and Others), By End User (Packaged Food Industries, Hotels and Restaurants, Retail Food Shops, Domestic Consumers, and Others), By Distribution Channel (Retail, Food & Beverages, Healthcare, Automotive, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034” in its research database.

“According to the latest research study, the global vegan steak market size was valued at around USD 1.99 billion in 2024. The market is expected to grow at a CAGR of 14.78% and is anticipated to reach a value of USD 5.99 billion by 2034.”

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Vegan Steak Industry Overview:

Vegan steak is a plant-based substitute for traditional meat, designed to replicate the flavor, texture, and appearance of meat while being entirely free from animal products. It is made with ingredients such as pea protein, legumes, soy protein, wheat gluten, and mushrooms, catering to the growing demand for ethical and sustainable choices. The global vegan steak market is likely to expand rapidly, driven by lifestyle changes, health awareness, environmental concerns, sustainability, and technological advancements in food processing. Rising health awareness of the health risks related to red meat, like obesity and cardiovascular diseases, is fueling the adoption of vegan steak. Plant-based substitutes are marketed as cholesterol-free and rich in protein and fiber. This complies with the fitness-based and wellness lifestyles of the younger demographics.

Despite the growth, the global market is hindered by factors such as limited consumer awareness in developing economies and challenges in sourcing ingredients and managing the supply chain. While awareness in Europe and North America is high, regions like Latin America, Asia, and Africa have less exposure to vegan steak.

Report Scope:

Report Attribute	Report Details
Market Size in 2024	USD 1.99 Billion
Market Forecast in 2034	USD 5.99 Billion
Growth Rate	CAGR of 14.78%
Base Year	2024
Forecast Years	2025- 2034
Key Companies Covered	Beyond Meat, Impossible Foods, Nestlé (Garden Gourmet, Sweet Earth), The Vegetarian Butcher, Quorn Foods, Gardein (Conagra Brands), Lightlife Foods, MorningStar Farms (Kellogg's), No Meat Company, Fry Family Food Co., Meatless Farm, Moving Mountains Foods, Alpha Foods, Novameat, Juicy Marbles, and others.
Segments Covered	By Source, By End User, By Distribution Channel, and By Region
Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Customization Scope	Avail customized purchase options to meet your exact research needs.

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Key Insights

• As per the analysis shared by our research analyst, the global vegan steak market is estimated to grow annually at a CAGR of around 14.78% over the forecast period (2025-2034)
• In terms of revenue, the global vegan steak market size was valued at around USD 1.99 billion in 2024 and is projected to reach USD 5.99 billion by 2034.
• The vegan steak market is projected to grow significantly owing to rising awareness of ecological sustainability, supportive government regulations and initiatives, and funding and investment in plant-based food startups.
• Based on the source, the soy segment is expected to lead the market, while the wheat segment is expected to grow considerably.
• Based on end user, the hotels and restaurants segment is the dominating segment, while the domestic consumers segment is projected to witness sizeable revenue over the forecast period.
• Based on the distribution channel, the supermarkets/hypermarkets segment is expected to lead the market compared to the online platforms segment.
• Based on region, Europe is projected to dominate the global market during the estimated period, followed by North America.

Industry Growth Factors

In 2023-2024, foodservice progressed as a central propeller for plant-based steaks, with chefs presenting whole-cut formats like fajita strips, salads, and pan-seared steaks where texture and juiciness are vital. Limited-time offers during grill season and steak nights built trial and social buzz, while enhanced kitchen training amplified repeat orders and guest satisfaction. Whole-cut steaks were ordered due to their high menu margins and prices compared to burgers, while also offering reduced trim losses and cost stability amid protein price volatility. Recent trends comprise broader menu placement, expanded distributor listings of whole-cut alt-meat SKUs, and find-casual trials with soy-fava steaks and mycelium.

Plant proteins, such as fava, soy, pea, and wheat, improved juiciness, bite consistency, heat-shock, and stability. At the same time, modernized flavor systems shifted towards cut-specific profiles like minimized off-notes and ribeye or sirloin. These advancements bridged sensory gaps with traditional steak, delivered added benefits, and supported premium pricing, offering benefits like allergen-flexible options, cleaner labels, and enhanced nutrition with iron, fiber, and B-vitamins, thus impacting the global vegan steak market.

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Vegan Steak Market: Segmentation

The global vegan steak market is segmented based on source, end user, distribution channel, and region.

Based on the source , the global vegan steak industry is divided into soy, almond, wheat, and others. Soy is the key source in the market since it is affordable, high in protein, and easily scalable for mass production. Its compatibility and neutral flavor with extrusion technology help companies to create steaks that imitate beef's mouthfeel and juiciness.

Based on end user , the global vegan steak market is segmented as packaged food industries, hotels and restaurants, retail food shops, domestic consumers, and others. The hotels and restaurants segment is actively offering plant-based steak dishes to satisfy the demand of vegans and flexitarians. Associations between global chains and vegan steak producers amplify the demand and visibility.

Based on distribution channel , the global market is segmented as supermarkets/hypermarkets, convenience stores, specialty stores, online platforms, and others. The supermarkets/hypermarkets segment captures a substantial share of the market because of their extensive product variety, ability to appeal to mass consumers, and strong supply chains.

Regional Scope:

Europe is anticipated to retain its leading role in the global vegan steak market as a result of strong consumer demand for plant-based foods, supportive government and policy initiatives, and food technology dominance and innovation. Europe holds the highest adoption rate of plant-based diets across the globe, fueled by sustainability and health awareness.

Europe also houses pioneering companies like THIS, Vivera, and Redefine Meat, which place a significant emphasis on replicating steak's marbling and texture. North America ranks as the second-leading region in the global vegan steak industry as a result of high consumer adoption and awareness, growing foodservice and restaurant inclusion, and high investments and advancements in food tech.

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Some of the main players in the global vegan steak market include;

• Beyond Meat
• Impossible Foods
• Nestlé (Garden Gourmet
• Sweet Earth)
• The Vegetarian Butcher
• Quorn Foods
• Gardein (Conagra Brands)
• Lightlife Foods
• MorningStar Farms (Kellogg's)
• No Meat Company
• Fry Family Food Co.
• Meatless Farm
• Moving Mountains Foods
• Alpha Foods
• Novameat
• Juicy Marbles

The global vegan steak market is segmented as follows:

By Source

• Soy
• Almond
• Wheat
• Others

By End User

• Packaged Food Industries
• Hotels and Restaurants
• Retail Food Shops
• Domestic Consumers
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Platforms
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key Questions Answered in This Report:

• What is Vegan Steak?
• Which key factors will influence the Vegan Steak market growth over 2025-2034?
• What will be the value of the Vegan Steak market during 2025-2034?
• What will be the CAGR value of the Vegan Steak market during 2025-2034?
• Which region will contribute notably towards the Vegan Steak market value?
• Which are the major players leveraging the Vegan Steak market growth?
• What can be expected from the global Vegan Steak market report?

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