Meat Substitute Market: Global Industry Analysis And Forecast (2022-2029)

Meat Substitute Market size was valued at US$ 1.89 Bn. in 2021 and the total Meat Substitute revenue is expected to grow at 13.5% through 2022 to 2029, reaching nearly US$ 5.20 Bn.

Meat Substitute Market Overview:

Meat substitute also known as a meat analog is a product that has the flavor, texture, and look of certain types of meat such as pork, beef, and chicken. These meat substitutes are manufactured from a variety of plant proteins, including soy protein, wheat protein, and pea protein. There is a wide range of nutrition data and ingredients in plant-based meats available these days. There are some health benefits associated with the consumption of Plant-based meat substitutes such as Reducing the risk of cardiovascular disease, Decreasing inflammation, and reducing the risk of cancer. As a result, the health advantages linked with these substances have been a key reason driving the increasing demand for the meat substitutes marketthroughout the forecast period. Meat Substitute Market To know about the Research Methodology :- Request Free Sample Report In this report, the Meat Substitute market's growth reasons, as well as the market's many segments (Product, Source, Type, Form, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Meat Substitute market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Meat Substitutemarket situation.

Meat Substitute Market Dynamics:

Plant-based proteins are becoming more popular. The global market for meat-based proteins has experienced a surge in demand over the last decade.The majority of people in Europe and North America rely on meat products for their daily protein needs. Animal proteins provide the body with amino acids and it is also high in cholesterol and which leads to several serious health issues. This became the primary driver of rising demand for plant-based protein foods, especially in developed nations like the United States, Germany, France, and the United Kingdom. Vegan population growth has been observed in several locationssuch as the United States and the United Kingdom.Consumers are becoming more aware of vegan food options. According to the International Congress of Meat Science and Technology, consumers are increasingly worried about fat consumption and believe that red meat is rich in fat, whereas sources of vegetable protein as raw material for burger patties are fat-free. As a result, the popularity of plant-based burgers will propel the market for meat substitutes. Fear of an increase in the number of animal-borne illnesses has increased consumer health concerns leading to a decrease in animal product consumption.Consumer awareness of plant-based meat alternatives is rapidly increasing owing to the rising prevalence of obesity and other diseases such as heart disease and diabetes. As a result, people are changing their eating habits and incorporating a healthier diet which is likely to increase thedemand for meat substitutes. Soy and gluten-free products are popular among consumers. One of the fastest-growing trends in special foods is "free-from." Soy and a gluten-free diet have quickly become the most popular nutritional trends, thanks to their health and therapeutic benefits. The increased usage of soy and gluten-free food products is mostly due to rising food sensitivities, regional dietary preferences, and an increase in celiac disease diagnosis. The prevalence of food allergies has increased in recent years causing great concern among consumers and food producers.Many peopleare allergic to or intolerant to soy protein, which causes eye irritation, stomach trouble, and other symptoms that require hospitalizationin some cases.The growing demand for gluten-free products is mostly due to an increase in disease prevalence. However, the number of people who must avoid gluten for medical reasons is quite limited. As a result, some people avoid foods that contain or are fortified with soy and wheat components. As a result, increased consumer desire for soy-free food products throughout the globe hampers the global growth of the soy and wheat protein-based meat alternatives market to some extent. The labeling regulations for marketing may cause consumers confusion about the origin of the ingredients used. More or less favorable labeling and food law rule, supportive financing policies, governmental investment, and communication efforts to encourage meat consumers to shift to meat alternatives.The Plant-Based Foods Association (PBFA) has suggested terminology for the wide range of plant-based and vegetarian meat substitutes widely available. The PBFA created these voluntary standards to enhance consistency in labeling.According to a recent survey conducted in the United States, 95 percent of individuals who purchase a veggie hamburger in a fast-food restaurant are regular meat consumers. Pea protein is under pressure due to the high cost of peas. Pea protein is expensive to produce, and there are shortages of peas owing to climate change, which raises the cost of peas. Its manufacturers are trying to boost manufacturing capacity by utilizing advanced pea protein extraction and processing technology. However, the shortage of pea protein raising the prices of final meat substitute products. As a result, pea protein-based meat replacement is regarded as a luxury product in some regions. Meat Substitute Market

Meat SubstituteMarket Segment Analysis:

By Product, theTofu segment is also known as soybean curd or bean curd. Curdled soy milk is a liquid that contains iron and is made from cooked soybeans. For decades, tofu has been a staple meal in Asian cuisines. Tofu has a great nutritional value and it provides a substantial quantity of iron, potassium, protein, calcium, and vitamin 12 all of which are essential for a healthy vegan diet.In China, Tofuis used in a variety of cuisines and recipes ranging from stir-fried meals to broths. Its capacity to be modified into any texture and shape has catapulted it to a significant share of the entire vegan food manufactured. Meat Substitute Market By Source, the Wheat segment is one of the most widely consumed cereal grains on a global scale. Wheat protein is a low-fat protein that manufacturers of low-fat and high-protein foods favor in response to the growing popularity of low-fat diets. It is also used as a binder material in meatballs, meatloaf, and veggie burgers.Wheat proteins are affordable and may be utilized in a variety of food products, including nuggets, burger patties, and sausages, and they can be flavored with ginger, garlic, soy sauce, paprika, and fennel. Several plant-based protein businesses are actively generating diverse plant proteins for food and beverage uses across the world. Wheat provides antioxidants, vitamins, minerals, and fiber to consumers who do not have food allergies concerns. By Type, the Isolates segment is the purest form of protein and contains the most Protein.Because of the protein content, meat alternatives are available in isolates or pure forms which are largely recognized and preferred by protein food and beverage manufacturers. Protein isolates can be obtained from soy, pea, rice, or canola. Protein-rich foods and meat substitutes have recently gained popularity due to the health and environmental benefits associated with them. This is boosting the need for protein isolates which are a good source of protein. Soy Protein Isolate (SPI) is the most often consumed type of isolate protein. It is isolated from soybean beans and contains 93-97% protein. Soy protein isolates are utilized not just to improve meat texture, but also to boost the protein content, improve moisture retention, and emulsify. Another advantage of soy protein isolates is their nutty flavor and high protein content. They are also low in fat, oligosaccharides, and fiber, and they create less flatulence as a result of bacterial fermentation.

Meat Substitute Market Regional Insights

Europe has a thriving market for meat Substitute Nearly 70% of European plant-based customers consume meat substitutes several times each week, and there has recently been an increase in the number of vegan product launches across the region. Because of their higher percentage of vegan and vegetarian customers, the United Kingdom, Germany, France, and Italy have the greatest markets for meat substitutes in Europe. Asia PacificMeat Substitute Market is expected to grow at the highest CAGR during the forecast period. The increased consumer knowledge of healthy dietary practices is attributed to Asia Pacific's growth. The primary aspects driving growth in the Asia Pacific region include health advantages, animal welfare, environmental safety, cost affordability, and the rising range of plant-based meat products. Non-meat meals are already widespread in Asia with tofu and bean-based congees popular in nations such as China. As a result, the Asia Pacific area is the fastest-growing potential market for meat substitutes. Meat Substitute Market The objective of the report is to present a comprehensive analysis of the Meat Substitute market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Meat Substitute market dynamics, and structure by analyzing the market segments and projectingthe Meat Substitute market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Meat Substitute market make the report investor’s guide.

Meat Substitute Market Scope: Inquire before buying

Global Meat Substitute Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 1.89 Bn.
Forecast Period 2022 to 2029 CAGR: 13.5 % Market Size in 2029: US $ 5.20 Bn.
Segments Covered: by Product • Tofu • Tempeh • Seitan • Quorn • Other types (risofu, valess, and lupine)
by Source • Soy protein • Wheat protein • Pea protein • Other sources
by Type • Isolates • Concentrates • Textured
by Form • Solid • Liquid

Meat Substitute Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Meat Substitute Market Key Players

DuPont (US) • ADM (US) • Kerry Group (Ireland) • Ingredion Incorporated (US) • Roquette Frères (France) • PURIS (US) • Cargill (US) • Axiom Foods (US) • Sonic Biochem Ltd (India) • Crespel&Deiters (Germany) • Wilmar International Limited (Singapore) • Sotexpro S.A (France) • The Nisshin OilliO Group, Ltd (Japan) • A&B Ingredients (Canada) • Batory Foods (US) • All Organic Treasures GMBH (Germany) • The Green Labs LLC (US) • Shandong Jianyuan Group (China) • ET Chem (China) • Beneo (Germany) FAQs: 1. Which is the potential market forMeat Substitute in terms of the region? Ans.In the APAC region, health advantages, animal welfare, environmental safety, cost affordability, and the rising range of plant-based meat productsare expected to drive the market. 2. What is expected to drive the growth of the Meat Substitute market in the forecast period? Ans.The health advantages linked with these substances have been a key reason driving the increasing demand for the meat substitutes market throughout the forecast period. 3. What is the projected market size & growth rate of the Meat Substitute Market? Ans.The meat Substitute Market size was valued at US$ 1.89 Bn. in 2021 and the total Meat Substitute revenue is expected to grow at 13.5 % through 2022 to 2029, reaching nearly US$ 5.20 Bn. 4. What segments are covered in the Meat Substitute Market report? Ans. The segments covered are Product, Source, Type, Form, and Region.
1. Global Meat Substitute Market: Research Methodology 2. Global Meat Substitute Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Meat Substitute Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Meat Substitute Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Meat Substitute Market Segmentation 4.1 Global Meat Substitute Market, by Product (2021-2029) • Tofu • Tempeh • Seitan • Quorn • Other types (risofu, valess, and lupine) 4.2 Global Meat Substitute Market, by Source (2021-2029) • Soy protein • Wheat protein • Pea protein • Other sources 4.3 Global Meat Substitute Market, by Type (2021-2029) • Isolates • Concentrates • Textured 4.4 Global Meat Substitute Market, by Form (2021-2029) • Solid • Liquid 5. North America Meat Substitute Market (2021-2029) 5.1 North America Meat Substitute Market, by Product (2021-2029) • Tofu • Tempeh • Seitan • Quorn • Other types (risofu, valess, and lupine) 5.2 North America Meat Substitute Market, by Source (2021-2029) • Soy protein • Wheat protein • Pea protein • Other sources 5.3 North America Meat Substitute Market, by Type (2021-2029) • Isolates • Concentrates • Textured 5.4 North America Meat Substitute Market, by Form (2021-2029) • Solid • Liquid 5.5 North America Meat Substitute Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Meat Substitute Market (2021-2029) 6.1. European Meat Substitute Market, by Product (2021-2029) 6.2. European Meat Substitute Market, by Source (2021-2029) 6.3. European Meat Substitute Market, by Type (2021-2029) 6.4. European Meat Substitute Market, by Form (2021-2029) 6.5. European Meat Substitute Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Meat Substitute Market (2021-2029) 7.1. Asia Pacific Meat Substitute Market, by Product (2021-2029) 7.2. Asia Pacific Meat Substitute Market, by Source (2021-2029) 7.3. Asia Pacific Meat Substitute Market, by Type (2021-2029) 7.4. Asia Pacific Meat Substitute Market, by Form (2021-2029) 7.5. Asia Pacific Meat Substitute Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Meat Substitute Market (2021-2029) 8.1 Middle East and Africa Meat Substitute Market, by Product (2021-2029) 8.2. Middle East and Africa Meat Substitute Market, by Source (2021-2029) 8.3. Middle East and Africa Meat Substitute Market, by Type (2021-2029) 8.4. Middle East and Africa Meat Substitute Market, by Form (2021-2029) 8.5. Middle East and Africa Meat Substitute Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Meat Substitute Market (2021-2029) 9.1. South America Meat Substitute Market, by Product (2021-2029) 9.2. South America Meat Substitute Market, by Source (2021-2029) 9.3. South America Meat Substitute Market, by Type (2021-2029) 9.4. South America Meat Substitute Market, by Form (2021-2029) 9.5. South America Meat Substitute Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 DuPont (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 ADM (US) 10.3 Kerry Group (Ireland) 10.4 Ingredion Incorporated (US) 10.5 Roquette Frères (France) 10.6 PURIS (US) 10.7 Cargill (US) 10.8 Axiom Foods (US) 10.9 Sonic Biochem Ltd (India) 10.10 Crespel&Deiters (Germany) 10.11 Wilmar International Limited (Singapore) 10.12 Sotexpro S.A (France) 10.13 The Nisshin OilliO Group, Ltd (Japan) 10.14 A&B Ingredients (Canada) 10.15 Batory Foods (US) 10.16 All Organic Treasures GMBH (Germany) 10.17 The Green Labs LLC (US) 10.18 Shandong Jianyuan Group (China) 10.19 ET Chem (China) 10.20 Beneo (Germany)

About This Report

Report ID 27256
Category Food & Beverages
Published Date July 2022
Updated Date
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