Meat Substitute Market by Product (Tofu-based, Tempeh-based, TVP-based, Seitan-based, Quorn-based, and Others), Source (Soy-based, Wheat-based, Mycoprotein, and Others), Category (Frozen, Refrigerated, and Shelf Stable): Global Opportunity Analysis and Industry Forecast, 2021–2027
|ID: VPR/F&B/230||Publishing Year: February 2021||Pages: 66||Format:|
Global Meat Substitute Market Size is expected to be valued at $XX billion by 2027, registering a CAGR of XX% from 2021 to 2027. A Meat Substitute is called meat-analogue , something like certain aesthetic qualities, primarily texture, flavor and appearance. Substitute are often based on soya beans such as tofu, tempeh or gluten , peas. Meat Substitutes include a wide range of products derived from plant-based organic substances and other organic substances. These includes tempeh, which is made from fermented soya beans, tofu, seitan, quorn and others. The Meat Substitutes are largely consumed by vegetarians, vegans, non-vegetarians seeking to reduce their meat consumption. Increase in global demand for sustainable diets in response to the outsized role anima products play in global warming and other environmental issues, has forced industries to focus on finding substitutes similar to meat.
Meat Substitutes derived from plant-based organic products are largely consumed by vegans in restaurants, grocery stores, bakeries, vegan school meals and in home. Seeking a healthy alternative to meat curiosity and trends towards veganism were drivers in 2019. However, studies show that weight management and cholesterol reduction through decreased intake of saturated fat, as well as consumers’ perception of them as healthful alternatives to meat, largely drive meat substitute purchases. Thus, increase in health concerns among consumers is expected to drive the market growth. Moreover, consistent increase in the number of innovative, low-cholesterol meat product launches such as lean meats in developed markets restrains the growth of the Meat Substitute Market. On the other hand, rise in health concerns in developed countries has increased the number of consumers preferring vegetarian food and veganism which is projected to provide lucrative opportunities to market players for launching innovative Meat Substitute Products.
The Global Eat Substitute Market into product, source, category, and region. By product, the Meat Substitute Market is categorized into tofu, tempeh, textured vegetable protein (TVP), Quorn, seitan, and others. On the basis of source, it is Meat Substitute Market segmented into soy, wheat, mycoprotein, and others (pea protein, rice protein, and other sources). Depending on category, it is segregated into frozen, refrigerated, and shelf-stable meat substitutes. On the basis of region it is analyzed across key regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
By Product Insight:
By product , textured vegetable protein(TVP) is a dehydrated high-protein, high-fiber meat replacement made from soy flour. It is available in the form of chunks, strips, flakes, and granules with a texture similar to cooked beef or minced meat. It has gained popurality and is expected to grow in the forecast period.
By Source Insight:
On the basis of source, soy-based faux meat products are contributing highest share in Meat Substitute Market, followed by mycoproteins. Soy proteins are cost-efficient and dependable substitutes for meat and possess the largest amount of protein, compared to various other Meat Substitutes.
By Category Insight:
Category wise, Frozen meat substitutes amongst the category type products accounts for lion’s share in the market. The increasing demand for convenience foods due to rising income level of consumers is considered as one of the important factors that is fuelling the Frozen Meat Substitutes Market.
By Region Insight:
Region wise, Europe will continue to dominate in the Global Market for Meat Substitute, followed by Asia-Pacific which offers lucrative growth opportunities for the operating players as it has Increased adoption of western lifestyle and rise in income of consumers majorly drive the Meat Substitute Market Growth.
The Key Players Profiled in the Meat Substitute Market Report include Amy’s Kitchen, Beyond Meat, Cauldron Foods, Garden Protein International, Inc., Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, MGP Ingredients, and Sonic Biochem Extractions Limited.
Meat Substitute Market Key Segments:
- Tofu based
- Tempeh based
- Textured vegetable protein (TVP)based
- Seitan based
- Quoron based
- Wheat based
- Shelf stable
- Rest of Europe
- Rest of Asia-pacific
- Latin America
- Middle east
Frequently Asked Questions
Type Here for table of content.