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Meat Substitute Market To Touch US$7.5 bn by 2025 | Top Key Players: ADM, Dupont, The Nisshin Oillio Group, Meatless, Vbites, Schouten Europe, Memphis Meats

04-12-2019 11:05 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Meat Substitute Market

Meat Substitute Market

According to a new report published by Allied Market Research titled, Meat Substitute Market by Product Type, Source and Category: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global meat substitute market size was valued at $4,175 million in 2017, and is expected to reach $7,549 million by 2025, registering a CAGR of 7.7% from 2018 to 2025. Europe dominated the global meat substitute market in 2017, accounting for 38.5% of the total revenue.

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The meat substitute market by product type comprises products prepared from tofu, tempeh, textured vegetable protein, seitan, quorn, and other plant-based sources. Textured vegetable protein (TVP)-based meat substitutes occupied the largest market share of 35.8% in 2017 as it is the basic ingredient in most of the soy-based meat substitute products. In terms of growth, Seitan-based meat substitutes are projected to exhibit an impressive CAGR of 9.4%, owing to increase in adoption in the food service industry.

Top Key Players
• Amys Kitchen Inc.
• Beyond Meat
• Cauldron Foods
• Garden Protein International Inc.
• Meatless B.V.
• Quorn Foods
• Vbites Food Ltd.
• Morningstar Farms
• MGP Ingredients Inc.
• Sonic Biochem Extractions Limited

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Most of the food and snack products, marketed as meat substitutes are either frozen, refrigerated, or shelf-stable. Products offered by leading meat substitute companies such as Amys Kitchen, Beyond Meat, and others, primarily belong to frozen category. However, shelf stable category is projected to exhibit the fastest growth in the coming years.

Various categories of meat substitutes marketed by players include frozen, refrigerated, and shelf-stable products. Frozen meat substitutes occupied a prominent market share of 77.2% in 2017, followed by refrigerated and shelf stable meat substitute products. The shelf stable category is anticipated to exhibit the fastest CAGR of 9.1% from 2018 to 2025.

Key Findings of the Meat Substitute Market:
• In terms of value, the quorn-based segment is expected to grow at a CAGR of 8.5% during the forecast period.
• Europe is expected to dominate the market, registering a CAGR of 7.3% in terms of value.
• Asia-Pacific is projected to exponential growth in demand throughout 2025, growing at the highest CAGR 9.4%, in terms of value.
• Soy-based segment is anticipated to dominate the global meat substitute market registering CAGR of 7.2%.
• In the global meat substitute market, the shelf stable segment is expected to grow at a CAGR of 9.1%, in terms of value.

Access full report@: https://www.alliedmarketresearch.com/meat-substitute-market

About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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