Press release
Global Meat Substitutes Market is Estimated to Grow at a CAGR over 4% by 2022
Market Overview
Global meat substitutes market is growing as a result of health benefits associated with meat substitutes which content high protein. The meat substitutes market is highly driven by demand for healthy and diversified foods. There are opportunities for expansion of organized retail sector and innovation in product offerings. Changing perceptions for meat substitutes among various consumer groups is motivating meat substitute’s manufacturers to develop products according to their preferences.
Market Forecast
Global Meat Substitutes Market is mainly driven by increasing health awareness among the consumer along with rising preferences of vegetarian diet. Increase in number of incidences of various animal diseases and their impact on human health by consumption of the diseased meat products is supporting the market growth. Growing concerns about environment has created renewed interest in vegetable protein foods in world which is driving the sales of meat substitutes products. Many people especially in developing countries are including meat substitutes as a part of their healthy diet, as they provide source of vegetarian protein, vitamins and minerals without the high saturated fat and cholesterol of meat products.
These factors will play a key role to grow meat substitutes market at CAGR of 4% during forecast period.
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Downstream Market Analysis-
Soy-based meat substitutes are most widely used meat substitutes worldwide due to large availability of raw material. The use of this soy protein as a functional ingredient is increasing in the food industry. Soy is used as a source of protein in various meat substitutes such as tofu, tempeh, miso, textured vegetable protein (TVP), and other tofu ingredients. Most of the food products, marketed as meat substitutes are either frozen, refrigerated or shelf-stable. Products offered by leading meat substitutes companies mainly belong to frozen food category.
Access the market data and market information presented through more than 60 market data tables and 25 figures spread over 110 numbers of pages of the project report “Meat Substitutes Market - Forecast to 2022”
Study Objectives of Meat Substitutes Market
Detailed analysis of the market segments and sub-segments
To estimate and forecast market size by type, source, category and region
To analyze the key driving forces influencing the market
Region level market analysis and market projections for North America, Europe, Asia, and Rest of the World (ROW) and their countries
Value chain analysis & supply chain analysis
Company profiling of major players in the market
Competitive strategy analysis, mapping of key stakeholders in the market
Analysis of historical market trends, and technologies, and current government regulatory requirements
Competitive Analysis-
The major key players in meat substitutes market are Beyond Meat (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), Quorn Foods (U.K.), MGP Ingredients Inc. (U.S.), Sonic Biochem Extractions Limited (India), Meatless B.V. (Netherlands) and Cauldron Foods (U.K.).
Companies such as Amy’s Kitchen offer a huge range of innovative vegan meals and snacks. Beyond Meat, a leading player in meat substitutes market offers highly innovative substitutes of chicken, pork, turkey and beef.
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Regional Analysis
The global meat substitutes market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among this Europe region has major market share followed by Asia Pacific. The demand for meat substitutes in various region is influenced by the availability of raw materials in that particular region such as North America is influenced by soy production while regions such as Asia Pacific and Europe are influenced by wheat production. Such a scenario would play a critical role in augmenting the particular meat substitute’s raw material in that particular regional market.
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Contact
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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