openPR Logo
Press release

Global Meat Substitutes Market to be worth USD 6.1 Bn by 2023

Global Meat Substitutes Market

Global Meat Substitutes Market

According to a new report released by Research on Global Markets, the global meat substitutes market is projected to expand at a CAGR of 7.4% during the forecast period (2018-2023) and is expected to be worth USD 6.1 billion by 2023. The rise in the demand for meat alternatives is an indicator that meat substitutes are no longer seen as a product exclusively for vegetarians or vegans, but is an attempt to push towards plat based alternatives for a more nutritious diet and healthier lifestyle.

According to the report, the increasing cases of obesity and diabetes and rising awareness of the environmental impact caused by the rearing of animals are the key growth factors of the global meat substitutes market. New trends in the meat substitutes market include using soy and wheat based meat alternatives, which are high in protein and will appeal to non-vegans and non-vegetarians.

Meat substitutes can be segmented on the basis of product and source type. The tofu and tofu based products segment held the largest share of the market with 43% in 2018 due to its easy availability and high nutritional value. Seitan is gaining popularity as a form of vegan comfort food and is used in junk food such as, sandwiches, burgers, pizzas, friend chicken, and kebabs. Owing to its versatility, Seitan has found favour in American and European restaurants.

Soy is by far the most popular meat substitute, it is a source of complete protein and can be adapted to suit several recipes. Its meat-like texture is another reason why so many people opt for it while preparing primarily meat based dishes. Quinoa is the next crowd favourite. It is populari n Asian diets and has also found its way in high profile western restaurants. The avocado has been a popular choice with healthy eaters it is a tasty and healthy alternative to meat based products and it is grown around the world. Oats are another source of meat alternative and are used in many different and delicious recipes.

Based on the source, meat products are derived from soy, microprotein and wheat. Wheat is anticipated to expand at a CAGR of 7.7% by 2023 and the soy segment held a market share of 48% in 2018. The popularity of wheat can be attributed to its high content of vitamin B, mineral and zinc, its role in preparing seitan and making it a perfect meat substitute component. The mycoprotein segment is expected to expand at 7.8% as it is associated with health benefits such as improved digestion, lower cholesterol and stable blood pressure.

Geographically, The North American meat substitutes market is expected to expand at a CAGR of 5.9% by 2023 due its increasing use in fast food joints. Europe is expected to expand at the highest CAGR of 9.3% during the 2018-2023 period, due to the growing health consciousness among consumers and growing prevalence of conditions such as diabetes, high blood pressure, and constipation has been accelerating the market for meat substitutes in this region.

For more information, download Global Meat Substitutes Market: https://www.researchonglobalmarkets.com/pressrelease/post/global-meat-substitutes-market-poised-to-expand.html

41 East, 11th Street, New York, NY 10003, USA

About Research On Global Markets:
Owned by Netscribes, Research On Global Markets draws from the company’s vast experience in market research and intelligence. For any queries related to our products and services, feel free to get in touch with us at support@researchonglobalmarkets.com.

Contact Us:
Ankita Basu
Research On Global Markets
41 East, 11th Street,
New York
NY
10003
USA
US Toll-Free: 18888313350
M: + 919903154956
Email: ankita.basu@rogmreports.com
Website: https://www.researchonglobalmarkets.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Meat Substitutes Market to be worth USD 6.1 Bn by 2023 here

News-ID: 1792506 • Views: 194

More Releases from Research On Global Markets

The Global Digital Gaming Market projected to reach USD 264.9 Bn in revenue by 2 …
Digital gaming is one industry that is growing, as it comprises of so many kinds of entertainment. The report developed by Research On Global Markets on the Global Digital Gaming Market shows that it is currently valued at USD 264.9 Bn. While we are all aware of how popular the console gaming, what has taken the industry for digital gaming by storm is the wave of smartphone
Increased demand levels indicate that the Global Nutritional Supplement Market i …
The use of nutritional supplements, globally, has increased and this is primarily driven by the need be healthy, fit and to lose weight. Also adding momentum to the Global Nutritional Supplement Market are the factors that just make sense. For example, the average cost of healthcare has skyrocketed, leading many consumers to believe that staying healthy would help them to avoid those costs. Self-medication too is on the rise as
Instant Noodles Market in India
A new report from Research On Global Markets shows that the Instant Noodles Market in India was the fourth largest and that consistent growth and consumer acceptance will drive a total market value of INR 51.1 Bn in 2020. Developed extensively over a period of time, studies showed that Nestle was the dominant player even though sales had been impacted by the recent controversy concerning excessive levels of lead in
Global Self-Monitoring Blood Glucose Devices Market to expand at 4.8% till 2023
According to a new report released by Research on Global Markets, the global self-monitoring blood glucose devices market is forecast to expand at a CAGR of 4.8% (2018-2023) and will reach USD 9.4 Bn in 2023 from USD 7.4 Bn in 2018. The self-monitoring glucose devices market comprises of testing strops, lancets, lancing devices and other product segments such as glucometers. According to the report, increase in elderly population, excess

All 5 Releases


More Releases for Meat

Meat Snacks Market
2019-2025 Meat Snacks Market Report with Depth Analysis Global Meat Snacks Market report covers the current scenario (with the base year being 2018) and the growth prospects of the global market for 2019-2025. The report presents a comprehensive overview, market size, shares, and growth opportunities of Meat Snacks market by product type, application, key manufacturers and key regions. Request For Free report Sample -https://www.reportsmonitor.com/request_sample/296717 Scope of the Report: Furthermore, Meat Snacks Market report discusses the key drivers influencing market growth, opportunities, the
Meat Processing Equipment Market- Staggering demand for meat products 2025
Global Meat Processing Equipment Market: Snapshot Changing food preferences, lifestyles, tastes, and habits of the global population have bolstered the growth of the market for meat processing equipment. Developing economies such as China and India have been exhibiting enormous demand for meat over the last few decades. Industrialization, growing urbanization, Western influence on the food habits of Eastern consumers, and the growing disposable incomes of people have offset the growth of
Processed Poultry Meat Market, Future Analysis By Type(Chicken Meat, Turkey Meat …
The production and consumption of meat has considerably increased worldwide over the years. Poultry meat has a higher demand among consumers, as it is less expensive compared to other meat products. Processed poultry meat is derived from the processing and treatment of raw poultry meat to prolong its shelf life and to enhance its taste. These processes includes use of chemical preservatives such as sodium nitrite. Processed poultry has gained
US Meat Market 2017-2025
IndexBox has just published a new report "U.S. Meat Processed From Carcasses Market. Analysis And Forecast to 2025" ( http://www.indexbox.co.uk/store/us-meat-processed-from-carcasses-market-analysis-and-forecast-to-2020/ ). This report is best suitable for you if you: • Are planning to enter a new geographical market and wish to know which one is best for your product • Are planning to enter a new product market and want to have a detailed overview of the market before entering • Already work
Meat in South Africa 2017
ReportsWorldwide has announced the addition of a new report title Meat in South Africa 2017 to its growing collection of premium market research reports. Meat in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential
Meat in Brazil 2017
ReportsWorldwide has announced the addition of a new report title Meat in Brazil 2017 to its growing collection of premium market research reports. Meat in Brazil industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential resource for