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Worldwide Meat Substitute Industry to 2027 - Product Diversity, Development and Innovation Presents Opportunities - ResearchAndMarkets.com

·3-min read

DUBLIN, September 16, 2021--(BUSINESS WIRE)--The "Meat Substitute Market by Product Type, Source, and Category: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

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 than 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 probably 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.

Increase in obesity rates across the world and growth in health problems, such as heart diseases, high blood pressure, diabetes, asthma, and others, have uplifted the overall health consciousness among consumers. Per-capita consumption of meat has witnessed a decline, especially in developed economies in the recent past. Food products with high nutritional value and similar taste & texture as that of meat have gain prominence among consumers. Aggressive marketing and positioning strategies coupled with innovative product launches are amongst other major factors that drive the market growth. However, availability of low cholesterol products, such as lean meats, in the market poses a threat to the industry.

The meat substitute industry is segmented on the basis of product type, source, category, and region. By product type, it is classified into tofu-based, tempeh-based, TVP-based, seitan-based, quorn-based, and others. By source, it is divided into soy-based, wheat-based, mycoprotein, and others. By category, it is categorized into frozen, refrigerated, and shelf stable. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key benefits for stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the meat substitute market analysis from 2019 to 2027 to identify the prevailing market opportunities.

  • The market research is offered along with information related to key drivers, restraints, and meat substitute market opportunities.

  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

  • In-depth analysis of the meat substitute market segmentation assists to determine the prevailing market opportunities.

  • Major countries in each region are mapped according to their revenue contribution to the global market industry.

  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

  • The report includes the analysis of the regional as well as global meat substitute market trends, key players, market segments, application areas, and meat substitute market growth strategies.

Market Dynamics

Drivers

  • Increase in obese population

  • Environmental sustainability and animal welfare

  • Surge in demand for clean label and natural products

Restraints

  • Wide availability of substitutes

  • Dissatisfaction with sensory attributes

Opportunities

  • Product diversity, development, and innovation

  • Untapped developing markets

Companies Mentioned

  • 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

For more information about this report visit https://www.researchandmarkets.com/r/75uxvf

View source version on businesswire.com: https://www.businesswire.com/news/home/20210916005735/en/

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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

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