Meat Substitutes Market Positive Outlook for Expansion in the Coming Years

Introducing the Most Recent Research Report [2023-2032] on the Meat Substitutes Market: Size, Emerging Trends, Market Share, Remarkable Growth, Segmentation, Comprehensive Analysis, and Forward-Looking Projections for 2032. This report presents an in-depth examination of the critical drivers propelling global market sales. Within its 120 pages, the report delivers a comprehensive evaluation of the industry's current status, encompassing aspects such as market size, market share, anticipated trends, growth rate, distribution channels, and more.

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.

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Rising health issues (which includes obesity and diabetes) owing to the excess consumption of meat products, and increasing awareness of environmental impact caused by rearing of animals (for meat consumption) are major factors driving the consumers to shift towards meat substitutes. The emerging trend in the meat substitutes market includes diversification of raw materials used in the making of alternative meat products, primarily shifting from soy and wheat, to recognizable, clean-label ingredients, and high quality protein, which appeals to non-vegans and non-vegetarians.

Segmentation based on product type
The different product types offered in the meat substitutes market include tofu and tofu-based products, tempeh, seitan, textured vegetable protein (TVP) and quorn. The tofu and tofu-based food contributed the largest market share of 43% in 2018, due to its ease of availability, and high nutritional value. Seitan is projected to show the highest CAGR of 8.3% during 2018-2023, as it is steadily gaining popularity in the form of vegan ‘comfort food’, and is also being used in junk food like burger, pizza, fake fried chicken, and kebabs. Due to its versatile nature, it is abundantly available in restaurants in Europe and the US.

Segmentation based on source type
The different types of sources from which the meat substitute products are derived include soy, wheat and mycoprotein. The soy segment contributed the largest market share of 48% in 2018, owing to the awareness of its high protein content and various health benefits associated with it. Wheat is expected to expand at a CAGR of 7.7% during 2018-2023, as wheat gluten is a key ingredient for the preparation of seitan and it also provides high content of minerals, vitamin B, and zinc, which is essential for a meat substitute product. The mycoprotein segment is expected to expand at the CAGR of 7.8% during 2018-2023, as mycoprotein is associated with numerous health benefits such as stable blood pressure, improved digestive system, and lower cholesterol.

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Regional insights
The meat substitutes market in Europe is expected to expand at the highest CAGR of 9.3% during the 2018-2023 period, as this market is driven by the rise in health-conscious consumers due to the growing incidences of diseases and conditions such as diabetes, high-blood pressure, and constipation coupled with the trend of flexitarian lifestyle that has been fueling the market for meat substitutes. The North American meat substitutes market is expected to expand at a CAGR of 5.9% during the forecast period, which is driven by the presence of innovative startups like Meatless B.V, Beyond Meat, and Next Level Burgers that offer a wide range of alternatives to meat, and satiate the taste buds of not only vegan consumers, but to non-vegetarians as well.

In 2018, the Asia-Pacific region which contributed USD 0.8 Bn in the total meat substitutes market, is driven by industrial growth and improvements in the food industry, providing new opportunities for the meat substitutes market in this region. In Europe, the contribution of new product launches from the meat substitutes category increased from 9% in 2013 to 11% in 2018 (Jan-Sep). This trend was also seen across the globe with new product launches increasing from 6% to 14%.

Companies covered

Amys Kitchen
VBites
Monde Nissin Corporation
Beyond Meat
Impossible Foods
Sunfed
Next Level Burgers

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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Core Chapters:

Chapter 1: Introduction: This chapter outlines the scope of the report and provides an executive summary of the different market segments, including the market size, future development potential, and evolution of the market in the short to mid-term and long term.

Chapter 2: Competitive Landscape: Here, we conduct a detailed analysis of the competitive landscape of Meat Substitutes manufacturers, including price, output, and revenue market share, latest development plans, mergers, and acquisition information.

Chapter 3: Production and Value Analysis: This chapter provides a quantitative analysis of the production/output and value of Meat Substitutes by region/country, identifying the market size and development potential of each region in the next six years.

Chapter 4: Consumption Analysis: We analyze the consumption of Meat Substitutes in different regions and countries, introducing the market development, future prospects, market space, and capacity of each country in the world.

Chapter 5: Product Segment Analysis: This chapter provides an analysis of various market segments according to product type, covering the market size and development potential of each market segment.

Chapter 6: Application Segment Analysis: We analyze various market segments according to application, covering the market size and development potential of each market segment.

Chapter 7: Company Profiles: This chapter provides detailed profiles of key players in the market, including product production/output, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Industrial Chain Analysis: Here, we analyze the industrial chain, including the upstream and downstream of the industry.

Chapter 9: Sales Channel Analysis: We analyze the sales channel, distributors, and customers in this chapter.

Chapter 10: Market Dynamics Analysis: This chapter introduces the market dynamics, latest developments, driving factors, restrictive factors, challenges, and risks faced by manufacturers in the industry, along with an analysis of relevant policies.

Chapter 11: Production and Supply Forecast: We provide a production and supply forecast for the global and regional market.

Chapter 12: Consumption and Demand Forecast: This chapter provides a consumption and demand forecast for the global and regional market.

Chapter 13: Type and Application Forecast: We provide a quantitative analysis of the market size and development potential of each market segment in the next six years.

Chapter 14: Conclusion: Finally, we present the main points and conclusions of the report, providing readers with a comprehensive understanding of the market and its potential growth prospects.

Our most recent research report showcases the thriving expansion of the Meat Substitutes Market and offers in-depth insights into the projected market size, share, and revenue until 2032.

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This release was published on openPR.