Global Meat Substitutes Market by Types, Sources, Categories, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Meat Substitutes Market was valued at USD 2.6 Billion in 2016, and is projected to grow at CAGR of 6.8% over forecast period 2020–2026. Rising demand for plant-based meat products, increasing number of vegans around the world, growing environmental concerns and awareness regarding health benefits of meat substitutes are the key factors driving the market.

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Market Trends, Drivers, Restraints, and Opportunities:

Rising health concern caused by increase in obesity due to the high consumption of hormone injected meat products is driving the growth of the market.
Positive environmental outcomes, high fiber and low saturated fat content, food safety, and dietary diversity are some benefits of meat substitutes, which are fueling the adoption of these alternatives.
Increase in preference of vegetarian and vegan food is boosting the market.
Awareness regarding the side effects of meat substitutes is likely to hamper market growth.
Perception of taste and genetically modified (GM) soybeans are likely to threaten the growth of the meat substitutes market during the forecast period.
Development of new products is projected to create new opportunities in the meat substitutes market.