Meat Substitute Market (2019-2025) – Get detailed COVID-19 impact analysis on the Meat Substitute Market

Meat substitute is a food that may have a taste, texture, and appearance similar to meat but does not contain meat. Nowadays, growing awareness in the population about healthy and sustainable foods has led to a rising interest in meat substitutes across the globe. The new consumer group of flexitarians, who reduce their meat consumption in their daily diet, is growing rapidly. This change in eating pattern requires new products that fulfil consumer demands of healthy and tasty products which both replace the function of meat in a dish and contribute a similar high protein nutritional value.

Meticulous Research® – leading global market research company is researching on meat substitute market titled “Meat Substitute Market by Source (Plant (Soy, Wheat, Mycoprotein), Insect (Crickets, Mealworms)), Product (Plant Based (Tofu, Tempeh, TVP), Insect Based (Whole Insects, Insect Powder)), Category (Frozen, Refrigerated, Shelf Stable) – Global Forecast to 2024”

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The factors such as rising consumer preference towards vegetarian or vegan diet across the globe, rising health concerns with consumption of meat products, and various health benefits are driving the growth of global meat substitutes market.

Meticulous Research® in its latest publication on Meat Substitutes Market states that global meat substitutes market is expected to grow at a CAGR of 7.1% from 2019 to reach around $7.0 billion by 2025.

On the basis of source, plant sourced meat substitutes commanded the largest share of meat substitute market in 2017 due growing health & wellness trend, advances in manufacturing technology, and increased preference for vegetarian and vegan foods. However, insect sourced meat substitute is expected to witness rapid growth during the forecast period. The rapid growth of this market is mainly attributed to the low risk of transmitting zoonotic diseases and high nutritional value of insects

On the basis of category, the frozen meat substitute accounted for the largest share of meat substitutes market in 2018. Frozen meat substitutes help to maintain the nutritional value of food products and retain the flavor and texture. Also, the frozen meat substitutes are gaining popularity due to changes in purchasing patterns coupled with fast lifestyles and the shift from traditional food to convenience food, from small grocery shops to supermarkets, especially in emerging economies such as India, China, and Brazil.

Geographically, North America commanded the largest share of the global meat substitute market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia Pacific market is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly attributed to increasing protein rich diet awareness, increasing health consciousness, booming food & beverages industry, growing economy, rapid urbanization, and large base of vegetarian population.

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Scope of the Meat Substitutes Market Report:

1 Introduction to Meat Substitute Market

1.1 Market definition
1.2 Scope of study
1.3 Global Meat Substitute Market Ecosystem
1.3.1 Meat Substitute Market, By Source
1.3.2 Meat Substitute Market, By Product
1.3.3 Meat Substitute Market, By Category
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Market Analytics
1.4.4 Assumptions
1.4.5 Limitations

2 Executive Summary

3 Market Insights

3.1 Drivers
3.1.1 Urbanization, population growth, and a rising middle class lead to greater meat consumption
3.1.2 Increasing options for vegetarians and vegans
3.1.3 Rising tide of challenges for industrial meat industry
3.1.4 Enticing meat eaters to consume environmentally-friendly meat without compromising on taste
3.1.5 Others
3.2 Restraints
3.2.1 Ill effects of consuming meat substitutes
3.2.2 Wide availability of meat products
3.3 Opportunities
3.3.1 Growth potential in emerging economies
3.4 Challenges
3.4.1 High cost of cultured meat
3.4.2 Genetically modified plant sources
3.5 Future Potential
3.5.1 Cultured Meat
3.5.1 Cultured Meat Market Analysis, by Sources
3.5.2 Trends
3.5.2.1 Advances in agriculture technology and synthetic biology are enabling high-tech meatless products
3.5.3 Investment by leading giants
3.6 Meat Substitute Market Share Analysis
3.7 Regulatory Analysis

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4 Global Meat Substitute Market, By Source

4.1 Plant Sourced
4.1.1 Soy
4.1.2 Wheat
4.1.3 Pea
4.1.4 Mycoprotein
4.1.5 Others
4.2 Insect Sourced
4.2.1 Crickets
4.2.2 Mealworms
4.2.3 Others

5 Global Meat Substitute Market, By Product

5.1 Plant Based Products
5.1.1 Tofu
5.1.2 Tempeh
5.1.3 TVP
5.1.4 Seitan
5.1.5 Quorn
5.1.6 Others
5.2 Insect Based Products
5.2.1 Whole Insects
5.2.2 Insect Powder
5.2.3 Others

6 Global Meat Substitute Market, By Category

6.1 Frozen
6.2 Refrigerated
6.3 Shelf Stable

7 Global Meat Substitute Market, By Region

7.1 North America
7.1.1 U.S.
7.1.2 Canada
7.2 Europe
7.2.1 UK
7.2.2 Germany
7.2.3 France
7.2.4 Italy
7.2.5 Spain
7.2.6 Rest of Europe
7.3 Asia-Pacific
7.3.1 China
7.3.2 India
7.3.3 Japan
7.3.4 Rest of Asia-Pacific
7.4 Rest of World
7.4.1 Latin America
7.4.1.1 Brazil
7.4.1.2 Mexico
7.4.1.3 Argentina
7.4.1.4 Rest of Latin America
7.4.2 The Middle East and Africa

Browse key industry insights spread across pages with market data tables & figures & charts from the report: https://www.meticulousresearch.com/product/meat-substitute-market-4969/

The key players operating in the global meat substitute market are Archer Daniels Midland Company, Dupont, The Nisshin Oillio Group, Sonic Biochem Limited, MGP Ingredients, Garden Protein International, Beyond Meat, Amy’s Kitchen, Quorn Foods, Morningstar Farms, Meatless, Vbites, Kreca Ento-Food BV, Entomo Farms, All Things Bugs, LLC, and Bitty Foods.

Key questions answered in the report:

Growing demand for plant-based products to drive the growth of meat substitute market

How does the demand of plant-based products differ from insect- based products?
Which are the high growth market segments in terms of source, category, and regions/ countries?

The North American meat substitute market favors both larger and local manufacturers that compete in multiple segments

Who are the top competitors in this market and what strategies do they employ to gain shares?
Which market segments have the high potential for revenue expansion over the forecast period?
What strategies should new companies looking to enter this market use to compete effectively?
What are the major drivers, restrains, opportunities, challenges, and future potential in the global meat substitute market?
Who are the major players in various countries and what share of the market do they hold?
What are the geographical trends and high growth regions/ countries?

Recent new product launches and upgradation, agreements and partnerships, acquisitions and mergers, and expansions have taken place in the meat substitute market

What companies have recently merged/ acquired in various countries across the globe and how will these unions affect the competitive landscape of the meat substitute market?
Which companies have created partnerships and how will these partnerships promote a competitive advantage?
Who are the major players in the global meat substitute market and what share of the market do they hold?
Who are the local emerging players in the meat substitute market and how do they compete with the global players?

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