Meat Substitute Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Meat Substitute market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Meat Substitute Market report is anticipated to register a CAGR of 5.8% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Meat Substitute Market are –
- AMY's Kitchen
- Beyond Meat
- Blue Chip Group
- Cauldron Foods
- Garden Protein International
- MGP Ingredients
- Meatless B.V.
- Morningstar Farms
- Nisshin Ollio Group
- Quorn Foods
- Sonic Biochem Extractions Ltd.
- The Nisshin Ollio Group Ltd.
- Vbites Foods Ltd.
The global meat substitute market is expected to register a CAGR of 5.8% during the forecast period, 2020-2023. Currently, the global campaign of ‘go vegetarian’ is the most powerful influencer of the demand for such products. Health benefits of this cholesterol-free protein, with meat-like texture, is the main factor promoting the growth of meat substitute products. Soy-based products such as tofu, miso, yaso, natto, and seitan are fast becoming popular among consumers. For market growth, product innovation and artificial meat taste are incorporated in the meat substitute products.
• Soylent is a brand that launched a new product like chewable nutrition bar. The food bar is nut-free, vegan, and lactose-free, and uses soy protein, algal flour, beet sugar, and other vitamins and minerals. Sporting a label of "food bar," the new product promises to fill 12.5 percent of a person’s daily caloric needs.
• Development of nutrient supplements like FortiSoy™ for infant nutrition and other products for pregnant women, have helped increase the health profile of both mother and child.
• California start-up brings meatless burger to Asia: Impossible Foods, which makes a product that tastes like ground beef, but is made from plants, is on the road to diversify its product portfolio to include something similar to steak. The company’s new target will be Asia, after gaining attention for its food technology in Silicon Valley, where it attracted funds from big names.
Veganism is the New Fad
Veganism is trending, as people are up to find that the plant-based proteins are complete proteins, if eaten in the right combination for the right body type. They can work better than animal protein, mainly because of the absence of hormones and enzymes. Going vegan and consuming plant protein, has shown extraordinary results in reduction of cholesterol, treating PCOS and preventing menopausal complications. Around 13% of the millennial are vegetarians and 4% are vegans who avoid dairy products, thus, resulting in increased demand for the most suitable alternative like soy and pea protein. These inclination trends towards plant-based diet are associated with different factors, such as sustainability issue, health awareness, ethical or religious views, environmental and animal rights.
Soy-based Meat Substitutes are the Most Popular
Soy is the most common source of meat substitutes in Asia-Pacific. Increasing demand for tofu from food service and beverage manufacturers depicts its popularity. Soy-based products are rich in amino acids, vitamins, fibers, omega-3, and flavones, in addition to being cholesterol-free and low in saturated fat. Soya meat is extremely rich in protein, with a protein content over 50%. Owing to these advantages, soy-based meat substitutes are anticipated to increase their market presence. A hydrolyzed or textured soy “veggie” burger is a meat analogue, mostly because the taste and texture is similar to meat. The transition from animal protein to plant protein can be possible only in a gradual, smooth and orderly fashion by utilizing high protein mixture, isolated protein and concentrated proteins from plant sources. Soy meat alternatives are closer to the taste and texture of meat, than in the past, because of newer technology. These developments have led to increased demand of these substitutes from the consumers.
Asia-Pacific is the Fastest Growing Region
Europe is the largest market for meat substitute products, by revenue, accounting for 39% of the global market share. Asia-Pacific is the fastest-growing region registering a 5.3% CAGR; due to the huge support from the large population, rising urbanization, increasing incomes and rapid adaptation of processed foods in the market.
MAJOR PLAYERS: AMY'S KITCHEN, INC., BEYOND MEAT, BLUE CHIP GROUP, CAULDRON FOODS, GARDEN PROTEIN INTERNATIONAL, INC., MGP INGREDIENTS, INC., MEATLESS B.V., MORNINGSTAR FARMS, NISSHIN OLLIO GROUP, QUORN FOODS, SONIC BIOCHEM EXTRACTIONS LTD., THE NISSHIN OLLIO GROUP LTD. and VBITES FOODS LTD, amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information,
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Scope of the Report:
The report analyses Meat Substitute market, which includes –
- Analysis of the growth of Meat Substitute market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Meat Substitute market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Meat Substitute market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Meat Substitute market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Meat Substitute Market Report:
- Varying dynamics of the Meat Substitute industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Meat Substitute market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Meat Substitute market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Meat Substitute Market Report:
- The report analyses how stringent emission control norms will drive the global Meat Substitute market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Meat Substitute market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Meat Substitute:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
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