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Meat Substitute Market Size, Share and Global Trend By Source (Wheat, Soybean, Mycoproteins, Vegetables), Category (Frozen, Shelf-stable), Product Types (Seitan, Tofu, Tempeh, Quorn, Texturized Vegetable Proteins), Distribution Channel (B2B, B2C) and Geography Forecast till 2026

Region : Global | Published Date: Upcoming | Report ID: FBI100239| Status : Upcoming

 

KEY INDUSTRY INSIGHTS

The global meat substitute market size expected to grow at a significant growth rate by 2026. Meat substitute these days are gaining huge traction among the vegan population in every region, especially in the North America and Europe region. The vegan population in the U.S. is expected to be as 1.62 million of the overall U.S population. Also, it is expected that the vegan population will register moderate growth. In other regions, the vegan population is anticipated to expand owing to various factors such as increasing health problems associated with the consumption of meat products. Major meat substitutes consumers are concentrating by targeting the vegan population which is one of the major factor to expand the meat alternative products in various regions.


Owing to the increase in the consumption of meat alternative burgers in the U.S. the company Impossible Burger launched a new product named Impossible Burger 2.0 in January 2019. This meat alternative burger has no gluten, antibiotics, and animal hormones in it. These alternative meat products are completely Kosher certified and Halal Certified. 


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Meat substitutes are certain food products which are made up of wheat, soy, or other plant products. These meat substitute help by offering the required amount of protein required by humans. There is an increase in the consumption of meat substitutes due to the increase in the awareness among consumer about the consumption of healthy diet which includes plants and plant-based products. There are various health concerns which are associated with the consumption of meat products such as obesity, PCOS, and flues. These are the factors which have led to the usage of meat substitute by various consumers from various regions. 


KEY PLAYERS COVERED


List of the major companies that are present in the global meat substitute market includes;
Conagra Brands,



  • Atlantic Natural Foods, LLC,

  • Taifun-Tofu GmbH,

  • Amy's Kitchen Inc.,

  • Lightlife Foods Inc.,

  • Impossible Foods Inc.,

  • Turtle Island Foods, Inc.,

  • The Hain Celestial Group, Inc.,

  • Schouten Europe B.V.,

  • Beyond Meat Inc.,

  • The Kraft Heinz Company,

  • Pacific Foods of Oregon, Inc.,

  • VBites Food ltd.,

  • Monde Nissin Corporation,

  • Sweet Earth, Inc.,

  • Kellogg Company,

  • Hügli Holding AG,

  • Fry Group Foods (Pty) Ltd.,

  • Nasoya Foods, Inc.,

  • Others


SEGMENTATION






























 ATTRIBUTE



 DETAILS



By Source




  • Wheat

  • Soybean

  • Mycoproteins

  • Vegetables (Peas, Carrot, Mushroom, Potato, Cauliflower, and Others)



By Category




  • Frozen

  • Shelf-stable



By Product Types




  • Seitan

  • Tofu

  • Tempeh

  • Quorn

  • Texturized Vegetable Proteins

  • Others



By Distribution Channel




  • B2B

  • B2C



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Vietnam, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa and Rest of MEA)



By the source segment, the soy protein is expected to witness a high growth in the overall meat substitutes market, owing to the high amount of protein present in soy. Followed by soy, vegetable proteins are expected to witness steady growth, as there is an increased awareness among the consumers about vegetable and vegetable derived products for consumption.


On the basis of product type, tofu and seitan are expected to project at a high growth rate in terms of value and volume as the consumers highly prefer these products in the U.S. and Canada. In terms of category, frozen products are expected to have a high growth as it helps in capturing the nutrition which is present in the plants and other derivatives when compared to the non-frozen meat substitutes.


REGIONAL ANALYSIS


At present, North America holds the major market share in the global meat substitute market and is expected to dominate the market during the forecast period, owing to the well-established food & beverage industry of the region, coupled with the increased vegan population in the region. Followed by North America, Europe is expected to consume more amount of meat substitutes, owing to the expanding vegan population in the region. These factors will help in the growth of the meat substitute market.


The Asia Pacific region is expected to grow at a steady CAGR which in the future will have a major consumption of meat substitutes, owing to the presence of vegetarianism in the region.


KEY INDUSTRY DEVELOPMENTS



  • In April 2018, development of nutrient supplements like FortiSoy for infant nutrition and other products for pregnant women, have helped increase the health profile of both mother and child.

  • Soylent is a brand that launched a new product like chewable nutrition bar. The food bar is nut-free, vegan, and lactose-free, and uses soy protein, algal flour, beet sugar, and other vitamins and minerals. Sporting a label of "food bar," the new product promises to fill 12.5 percent of a person’s daily caloric needs.


Meat Substitutes Market Size, Share and Global Industry Trend Forecast till 2026
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