Meat Substitutes Market will reach USD 7.08 Billion by 2025 with Key Players ADM, Dupont, The Nisshin Oillio Group, Sonic Biochem Limited, MGP Ingredients, Garden Protein International, Beyond Meat, Amy’s Kitchen, Quorn Foods, Morningstar Farms

Global Meat Substitutes Industry was valued at USD 4.40 Billion in the year 2017. Global Meat Substitutes Industry is further estimated to grow at a CAGR of 6.3% from 2019 to reach USD 7.08 Billion by the year 2025. Europe region holds the highest Industry share in 2017 and the Asia Pacific is considered as the fastest growing Industry in the forecasted period. At a country level, India, and China are the major industries in Asia Pacific region and holds a substantial Industry share in 2017 and it is projected to grow at a gradual pace in the coming years.

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The Industry is segmented by Product Type, Source, Category, and geography. By product type, it is sub-segmented into Tofu & tofu ingredients, Tempeh, Textured vegetable protein, other soy products, Seitan, Quorn. In the year 2017, textured vegetable protein (TVP)-based meat substitutes occupied the largest Industry share as it is the basic element in most of the soy-based meat substitute products.

SWOT Analysis of Meat Substitutes Industry:
Strength:
Health Benefits of Meat Substitutes

Weakness:
Ill Effects of Consuming Meat Substitutes

Opportunities:
Large percentage of population across the globe is preferring vegan food that has spurred the demand for meat substitutes

Threats:
Genetically Modified (GM) Soybeans

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Major market players in Meat Substitutes Industry are ADM, Dupont, The Nisshin Oillio Group, Sonic Biochem Limited, MGP Ingredients, Garden Protein International, Beyond Meat, Amy’s Kitchen, Quorn Foods, Morningstar Farms, and brief information of 10 companies will be provided in report. To cater to the increasing demand, manufacturers are focusing on investing in research and development to expand their product portfolio by launching different types of meat substitutes with the possible permutations and combinations

Meat Substitutes Industry Segmentation:
By Type
• Tofu & tofu ingredients
• Tempeh
• Textured vegetable protein
• Other soy products
• Seitan
• Quorn
• Others

By Source
• Soy
• Wheat
• Mycoprotein
• Others

By Category
• Frozen
• Refrigerated
• Shelf-stable

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By Region
• North America
o USA
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
• APAC
o China
o India
o Japan
o Rest of Asia-Pacific
• RoW
o Latin America
o Middle East & Africa

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This release was published on openPR.