Meat Substitute Market Industry Report, 2018-2025 | Key Vendors DowDuPont Inc., Archer Daniels Midland Company, Amy’s Kitchen Inc., MGP Ingredients, Inc., Beyond Meat Inc., Sonic Biochem Extractions Ltd., VBites Foods Limited, The Nisshin OilliO Group,

Meat substitute also called as meat analogue is a meatless food that has similar appearance, taste, and texture as food made from meat, fish, and poultry. It is majorly made from non-meat ingredients and sometimes without using dairy products. The meat substitutes serve to vegetarian population, as they do not prefer meat consumption due to health, animals or environmental concern. Various health benefits associated with meat substitute such as aid in weight loss, preservation of bones, and maintaining normal blood sugar are some of the factors fueling growth of the meat substitute market.

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The global meat substitute market was valued at US$ 3.9 billion in 2016, and is expected to expand at a CAGR of 7.6% in terms of revenue, during 2018– 2025. Meat substitutes are healthy, cholesterol free, low cost, and have meat-like texture, color, and taste along with long shelf life, which is driving growth of the global meat substitutes market.

Market Dynamics

Increasing consumer preference for meat substitutes due to benefits offered by meat substitutes such as low cost, low calorie intake and meat-like texture, color, and taste along with long shelf life are the factors driving growth of the global meat substitutes market.

North America is also expected to exhibit positive growth in the meat substitute market over the forecast period. Key factors such as bulk availability of raw materials, increasing population, and high consumption of non-meat products are creating immense opportunities for growth of the market.

Asia pacific held significant market share in the global meat substitute market owing to rising consumer awareness about health benefits of the meat substitutes in the region. Meat substitutes offer health benefits such as it lowers the cholesterol level, boosts heart health, and stronger bones.

Major Players in the Global Meat Substitute Market

Some of the key players operating in the global meat substitute market include DowDuPont Inc., Archer Daniels Midland Company, Amy’s Kitchen Inc., MGP Ingredients, Inc., Beyond Meat Inc., Sonic Biochem Extractions Ltd., VBites Foods Limited, The Nisshin OilliO Group, Ltd. Garden Protein International, MorningStar Farms, and Meatless BV.

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