Meat Substitute Market By Product Type (Tofu, Tempeh, Textured vegetable protein, Quorn, Seitan), Source (Soy, Wheat, Mycoprotein), Category (Frozen, Refrigerated, Shelf-stable) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020

MEAT SUBSTITUTES MARKET STATISTICS

The global meat substitute market size is expected to be valued at USD 8.1 billion by 2026, registering a CAGR of 7.8% from 2019 to 2026.

Meat substitutes include a wide variety of products derived from plant-based and other organic sources. These include tofu; tempeh; textured vegetable protein; Quorn; seitan; and other ingredients such as pea, lentils, and rice.

Asia Pacific region would exhibit the highest CAGR of 9.3% during the forecast period, 2019-2026

Meat is an excellent source of protein but contains high level of cholesterol and saturated fats. Individuals who consume it on a regular basis are more prone to develop health problems such as obesity and atherosclerosis. Meat substitutes are products that resemble actual meat in terms of taste, flavor, and appearance, but are healthier as compared to meat. Such products are increasingly being used as substitutes for regular meat and meat products. They are primarily composed of ingredients such as soy, wheat, and others. Tofu is amongst the most popular meat substitute and is widely used as an alternative for pork, chicken, beef, and other meats. Europe and North America are amongst the biggest markets of meat substitutes; however Asia-Pacific is the fastest growing market.

 

Rising obesity rates all over the world and increasing health problems such as heart diseases, high blood pressure, diabetes, asthma, and others have led to increase in number of health conscious individuals worldwide. PER-capita consumption of meat has witnessed a decline, especially in developed economies in the recent past. Food products that are high in nutritional value and have similar taste and texture as that of meat, are gaining prominence among consumers. Other factors driving the market are innovative product launches by players operating in the market and attractive marketing and positioning strategies. However, a variety of low-cholesterol meat products available in the market including lean meats, pose a threat to the industry.

 

The market is segmented on the basis of product type, source, category, and geography. The segments on the basis of product type include meat substitutes prepared from tofu, tempeh, textured vegetable protein (TVP), quorn, seitan and others. On the basis of source, the market has been segmented into soy, wheat, mycoprotein and others (pea protein, rice protein and other sources based). Textured vegetable protein and tofu are amongst most popular ingredients used for the preparation of soy based meat substitutes. Seitan is commonly used for the preparation of wheat based meat substitutes. Market segmentations on the basis of category include frozen, refrigerated and shelf-stable meat substitutes. To gain a comprehensive understanding, the market scenario is analyzed across key geographic regions namely North America, Europe, Asia-Pacific, and LAMEA.

 

The key players profiled in the report are Amy’s Kitchen (U.S.), Beyond Meat (U.S.), Cauldron Foods (U.K.), Garden Protein International, Inc. (Canada), Meatless B.V. (The Netherlands), Quorn Foods (U.K.), Vbites Food, Ltd. (U.K.), Morningstar Farms (U.S.), MGP Ingredients (U.S.), Sonic Biochem Extractions Limited (India). Companies such as Amy’s Kitchen offer a wide range of innovative vegan meals and snacks. Beyond Meat, a leading player in meat substitute market offers highly innovative substitutes of pork, chicken, turkey, and beef.

 

 

KEY BENEFITS

 

• The study provides an in-depth analysis of the global meat substitutes market with current and future trends to elucidate the prominent investment pockets in the market
• Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold in the market
• The report provides information regarding key drivers, restraints, and opportunities with impact analysis
• Quantitative analysis of the current market and forecast from 2015 to 2020 are provided to showcase the financial appetency of the market
• Porters Five Force model of the industry and SWOT analysis illustrates the potency of the buyers & suppliers participating in the market
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain

 

MARKET SEGMENTATION MEAT SUBSTITUTE MARKET KEY SEGMENTS

 

MARKET BY PRODUCT TYPE

 

• Tofu based
• Tempeh based
• Textured vegetable protein based
• Quorn based
• Seitan based
• Others

 

MARKET BY SOURCE

 

• Soy
• Wheat
• Mycoprotein
• Others (milk, rice, and others)

 

MARKET BY CATEGORY

 

• Frozen
• Refrigerated
• Shelf-stable

 

MARKET BY GEOGRAPHY

 

• North America
• Europe
• Asia-Pacific
• LAMEA

 

Key Players:

 

• Amy’s Kitchen Inc. (U.S.)
• Beyond Meat (U.S.)
• Cauldron Foods (U.K.)
• Garden Protein International, Inc. (Canada)
• Meatless B.V. (Netherlands)
• Quorn Foods (U.K.)
• Vbites Food, Ltd. (U.K.)
• Morningstar Farms (U.S.)
• MGP Ingredients Inc. (U.S.)
• Sonic Biochem Extractions Limited (India)

 

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