Meat Substitute Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2016 and Forecast 2017 to 2024

Meat Substitute Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2016 and Forecast 2017 to 2024

Meat Substitute Market is Projected to Reach at a Value of US$ XX Bn by 2025, Due to Health Benfits Provided by Meat Substitute Products

“The Meat Substitute Market is anticipated to reach about US$ XX Bn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to its health benefits.

Precision Business Insights (PBI) in its report titled “Meat Substitute Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The Pharmaceutical Intermediates market size was accounted for US$ XX Bn in 2018 and anticipated to account for US$ XX Bn by 2025. The market is driven by factors such as rising health concerns (which include obesity and diabetes) due to consumption of meat products. Also, due to the health benefits provided by meat substitute products, such as weight loss and general wellbeing, the market for these products is projected to grow. Furthermore, as the adoption level of meat substitutes by consumers is increasing, it helps companies innovate and develop product lines for meat substitutes, which has further contributed to the growth of the meat substitutes market. However, alternatives such as lean meats and low cholesterol meat available in the market restrains the growth of the meat substitutes market.

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Meat substitute market segmented on the basis of source, type, and geographical regions.

Tofu and Tofu Ingredients Segment Expected to Dominate the Market

On the basis of type, the tofu & tofu ingredients segment accounted for the largest share of the meat substitutes market in 2017, followed by textured vegetable protein segment. Meat substitutes such as tempeh and tofu are rich in proteins and minerals, since they are derived from soy; moreover, they have become a popular meat alternative among vegetarians and vegan consumers for their health benefits.

Soy-based Meat Substitute Will Dominate the Revenue Share.

On the basis of source, soy-based meat substitute products accounted for the largest market share, followed by mycoprotein, in 2017. This is because soy protein is a cost-effective and reliable substitute for meat and has the highest amount of protein as compared to other meat substitutes. Soy-based meat substitutes have the ability to be produced so as to mimic the organoleptic characteristics of meat products. Soy burgers, soy turkey, soy bacon, soy chicken, and soy hot dogs are a few popular soy-based food products.

Europe, Accounts for Major Revenue Share for Meat Substitute Market

Precision Business Insights (PBI) meat substitute market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Europe was the largest market for meat substitutes in 2017. The market is characterized by the presence of large-scale meat substitute manufacturers such as Quorn Foods (UK) and Meatless (Netherlands). The increasing number of new modified meat-free product launches by manufacturers such low-fat and fortified snack with meat substitutes act as catalysts for the growth of meat substitutes market. Asia Pacific is expected to grow at a significant CAGR during the forecast period due to the rise in disposable income of developing countries, growing middle class population, and growing awareness regarding health.

New Innovations for Product Launch Play Vital Role in Meat Substitute Market

Key players adopt to various strategy to establish presence in the global market in terms of consumer recognition. For instance, in September 2017, Quorn Foods, a producer of meat substitutes has introduced its new range of innovative refrigerated products in US
Key player’s profiles in the report are ADM (US), DuPont (US), The Nisshin OilliO Group (Japan), Sonic Biochem Limited (India), MGP Ingredients (US), Garden Protein International (Canada), Beyond Meat (US), Amys Kitchen (US), Quorn Foods (UK), MorningStar Farms (US), Meatless (Netherlands), and VBites (UK) among others.
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https://www.precisionbusinessinsights.com/market-reports/meat-substitutes-market/#ulp-c654SbFYO64MsOhu

Detailed Segmentation

By Source Type

o Wheat-based
o Soy-based
o Mycoprotein meat substitutes
o Others

By Meat Substitute Type

o Tofu
o Textured vegetable protein
o Tempeh
o Soy products
o Quorn
o Seitan
o Others

Geography

o North America
 U.S.
 Canada
o Europe
 Germany
 UK
 France
 Russia
 Spain
 Italy
 Rest of Europe
o Asia-Pacific
 China
 Japan
 India
 ASEAN
 Rest of Asia Pacific
o Latin America
 Brazil
 Mexico
 Argentina
 Chile
 Rest of Latin America
o Middle East and Africa
 South Africa
 Saudi Arabia
 Rest of MEA

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This release was published on openPR.