Meat Substitutes Market By Type (Patties, Crumbles & Grounds, Hot Dogs, Sausages, Nuggets, Meatballs, and Other), By Source (Plant-based Chicken, Plant-based Fish and Plant-based Beef), By Functionality (Weight Management, Immunity Boosting Products, Gut Health/Digestive Health, Clinical Nutrition,

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Food and Beverage | Format: Report available in PDF / Excel Format

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Meat Substitutes Market By Type (Patties, Crumbles & Grounds, Hot Dogs, Sausages, Nuggets, Meatballs, and Other), By Source (Plant-based Chicken, Plant-based Fish and Plant-based Beef), By Functionality (Weight Management, Immunity Boosting Products, Gut Health/Digestive Health, Clinical Nutrition,

Meat Substitutes Market Size And Forecast

According to the new report titled " Meat Substitutes Market By Type (Patties, Crumbles & Grounds, Hot Dogs, Sausages, Nuggets, Meatballs, and Other), By Source (Plant-based Chicken, Plant-based Fish and Plant-based Beef), By Functionality (Weight Management, Immunity Boosting Products, Gut Health/Digestive Health, Clinical Nutrition, and Others), By Distribution Channels (Foodservice & Retail, Specialty Stores, Online Retail), Global Analysis to 2023",

The valuation of the  Meat Substitutes market was $1.96 Billion in 2023 and is projected to reach $6.38 Billion by 2032, at a CAGR of 14.02% from 2021 to 2032.

Hey there! You know the plant-based meat stuff that tastes and feels like the real deal? Well, it's getting really popular! In 2023, the market for these meat substitutes was worth a whopping $1.96 billion. And guess what? It's expected to keep growing like crazy, at a rate of 14.02% every year. Why are people so into it? Lots of reasons. For one, people are becoming more and more health-conscious and want to eat healthier. Meat substitutes often have less fat and cholesterol than real meat. Another reason is the environment. Raising animals for food isn't the best for our planet. It can lead to things like air pollution, water waste, and deforestation. Meat substitutes generally have a smaller environmental footprint. And let's not forget about the vegetarians, vegans, and flexitarians out there. They're all opting for more plant-based options, including meat substitutes, for ethical, health, or religious reasons. Companies are smartening up and promoting the heck out of these meat substitutes. They're telling people how great they are for their health and the environment. And it's working! More and more people are trying and liking these plant-based products.

Foodservice & Retail held the largest share in the Meat Substitutes market

Meat substitutes are becoming increasingly popular, and you can find them in a variety of places, including restaurants, grocery stores, and online retailers. Restaurants and grocery stores are particularly important for the meat substitute market. People are eating more meat substitutes because more people are choosing to eat vegetarian, vegan, or flexitarian diets. These consumers want plant-based foods that taste, feel, and provide similar nutrition to meat, but without the animal products. Consumers are also becoming more health-conscious and looking for ways to cut back on saturated fats, cholesterol, and other unhealthy ingredients often found in meat. Meat substitutes, especially those made from whole plant-based ingredients, are seen as healthier choices.

The environmental impact of meat production, including issues such as greenhouse gas emissions, land use, and water consumption, has led many consumers to seek out meat substitutes as a more sustainable option. Plant-based proteins generally have a lower environmental footprint compared to animal-derived proteins. Government initiatives promoting healthier and more sustainable diets, as well as policies aimed at reducing meat consumption and promoting plant-based alternatives, are also driving demand for meat substitutes.

Asia Pacific headed the Meat Substitutes market in 2023

Hey there! You know how we all want to live healthier lives? Well, it's no different in Asia Pacific countries like China, India, and Indonesia. People there are really starting to care about what they eat. Traditionally, meat has been a huge part of their diets, but now folks are looking for healthier alternatives. And why not? Meat production can harm the environment, like by cutting down forests and polluting the air. So, meat substitutes are a win-win, right? Better for your body and the planet. As more and more people move to cities and start eating like us Westerners, the demand for meat substitutes is skyrocketing. People want convenient, healthy, and eco-friendly food options. And you know what? Governments in the region are even encouraging people to eat less meat and go plant-based. So, that's just adding even more fuel to the fire for the meat substitute industry.

Key market players operating in the market that are profiled in the report are Amy’s Kitchen, BeyondMeat, Cauldron Foods, Garden Protein International Inc., Meatless B.V., VBites Foods Ltd., MGP Ingredients (U.S.), Sonic Biochem Extractions Limited, Kellogg Company, Archer-Daniels-Midland Company etc

Report Scope

REPORT ATTRIBUTES DETAILS
STUDY PERIOD

2017-2028
BASE YEAR

2020
FORECAST PERIOD

2021-2028
HISTORICAL PERIOD

2017-2019
UNIT

Value (USD Billion)
KEY COMPANIES PROFILED

Morningstar Farms LLC, Archer Daniels Midland Company, Quorn Foods, EI Du Pont De Nemours, Amy’s Kitchen, Beyond Meat, Garden Protein International Inc.
SEGMENTS COVERED

By Source, By Category, By Product, And By Geography.
CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

 

Key Players

  •  Amy’s Kitchen
  • BeyondMeat
  • Cauldron Foods
  • Garden Protein International Inc.
  • Meatless B.V.
  • VBites Foods Ltd.
  • MGP Ingredients (U.S.)
  • Sonic Biochem Extractions Limited
  • Kellogg Company
  • Archer-Daniels-Midland Company etc

Global Meat Substitutes MarketSegmentation Analysis

The Global Meat Substitutes Market is Segmented on the basis of Source, Category, Product, And Geography.

Meat Substitutes Market, By Source

• Wheat Based Meat Substitutes
• Mycoprotein Meat Substitutes
• Soy Based Wheat Substitutes
• Others

Based on Source, the market is segmented into Wheat Based Meat Substitutes, Mycoprotein Meat Substitutes, Soy Based Wheat Substitutes, and Others. Among this entire segmentation, Soy Based Wheat Substitutes segment is expected to grow at the fastest pace and also, account for significant market share. The growth of the segment is attributed to the ability of soy-based products to absorb rich flavors from other food and it is known as a complete source of protein.

Meat Substitutes Market, By Category

• Frozen Meat Substitutes
• Refrigerated Meat Substitutes

Based on Category, the market is segmented into Frozen Meat Substitutes and Refrigerated Meat Substitutes. Among these two segments, Frozen Meat Substitutes is expected to hold the largest share in the Meat Substitutes Market due to the growing popularity of products such as TVP, which is dehydrated high-protein.

Meat Substitutes Market, By Product

• Tofu and Tofu Ingredients
• Seitan
• Quorn
• Other Soy Products
• Textured Vegetable Protein
• Others

Based on Product, the market is segmented into Tofu and Tofu Ingredients, Seitan and Quorn, Other Soy Products, Textured Vegetable Protein, and Others. The seitan segment is expected to grow at the fastest pace during the forecasted period as it contains a higher amount of sodium and protein and is also available in a variety of forms such as marinated strips, shaped masses, slices, and blocks.

 Meat Substitutes Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Reasons to Purchase this Report

Imagine you're the CEO of a company and you want to make informed decisions about your market. Our report will provide you with the following insights- We'll divide your market into segments based on factors like income, age, and lifestyle. For each segment, we'll tell you how much it's worth in dollars. - We'll identify the parts of the market that are growing the fastest and are likely to be the most profitable for you to target. - We'll break down the market by region, showing you how much people in each area are consuming your product or service, and we'll explain what's driving demand in each region. - We'll give you a list of your biggest competitors, along with their recent business moves and financial performance. - For each of your top competitors, we'll provide an in-depth profile that includes their strengths, weaknesses, and the products or services they offer. - We'll help you understand the big picture of your market by analyzing industry trends, growth opportunities, and potential challenges. - We'll use Porter's five forces analysis to show you how different factors, such as competition and customer power, are shaping your market. - We'll map out the value chain for your industry, showing you how different activities create value for customers. - We'll provide you with a forecast of how your market will perform in the coming years, based on current trends and potential future developments. - And to ensure that you get the most out of your purchase, we'll provide you with six months of post-sales analyst support.

Table of Content

1 INTRODUCTION OF GLOBAL MEAT SUBSTITUTES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources

4 GLOBAL MEAT SUBSTITUTES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 GLOBAL MEAT SUBSTITUTES MARKET, BY SOURCE
5.1 Overview
5.2 Wheat Based Meat Substitutes
5.3 Mycoprotein Meat Substitutes
5.4 Soy Based Wheat Substitutes
5.5 Others

6 GLOBAL MEAT SUBSTITUTES MARKET, BY CATEGORY
6.1 Overview
6.2 Frozen Meat Substitutes
6.3 Refrigerated Meat Substitutes

7 GLOBAL MEAT SUBSTITUTES MARKET, BY PRODUCT
7.1 Overview
7.2 Tofu and Tofu Ingredients
7.3 Seitan
7.4 Quorn
7.5 Other Soy Products
7.6 Textured Vegetable Protein
7.7 Others

8 GLOBAL MEAT SUBSTITUTES MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa

9 GLOBAL MEAT SUBSTITUTES MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Share
9.3 Vendor Landscape
9.4 Key Development Strategies

10  COMPANY PROFILES

10.1 Morningstar Farms LLC
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments

10.2 Archer Daniels Midland Company
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments

10.3 Quorn Foods
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments

10.4 EI Du Pont De Nemours
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments

10.5 Amy’s Kitchen
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments

10.6 Beyond Meat
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments

10.7 Garden Protein International Inc.
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments

10.8 The Nisshin Ollio Group Ltd.
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments

10.9 MGP Ingredients
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments

10.10 Sonic Biochem Extractions Ltd
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments

11 Appendix
11.1 Related Reports

Key Players

  •  Amy’s Kitchen
  • BeyondMeat
  • Cauldron Foods
  • Garden Protein International Inc.
  • Meatless B.V.
  • VBites Foods Ltd.
  • MGP Ingredients (U.S.)
  • Sonic Biochem Extractions Limited
  • Kellogg Company
  • Archer-Daniels-Midland Company etc

Related Reports

Table of Content

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List Tables Figures

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