Introduction of the Meat Substitutes Market Report

Meat substitutes are also known as meat analogues. Substitutes are often based on soybeans (such as tofu and tempeh), gluten, or peas. Meat substitutes are of many forms, including burgers, breakfast meats such as chicken, sausages and bacon, fish, and pulled pork. The various benefits related to the usage of meat substitutes includes higher fiber content, lower saturated fat level, better food safety, and positive environmental outcomes.

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Market Dynamic

Key Drivers and Emerging Trends

The significant factor responsible for the growth of the market includes increasing environmental concerns and awareness associated with the health benefits of meat substitutes. Moreover, the rising preference toward a vegan diet due to various health benefits and environmental concerns is further fuelling the growth of the market. The robust popularity of veganism is a major factor fuelling the growth of the meat substitute market. The increasing inclination of consumers towards plant-based dietary patterns will further surge the growth of the meat substitute market during the forecast period. The significant shift in the flexitarian consumer’s preference from animal meat to some other meat substitute products is boosting the growth of the market.

The growing incidence of health disorders boosts health and fitness consciousness among consumers, which, in turn, is projected to propel the market growth. Furthermore, the rapid development of the food service industries and attractive marketing & promotional strategies of companies for vegetarianism has a positive influence on the growth of the meat substitute market. In addition to this, the increase in health concerns in developed economies has accelerated the number of consumers preferring vegetarian food, which is expected to create various new opportunities for market players for introducing innovative meat substitute products during the forecast period.

Restraint in the Meat Substitute Market

On the other hand, constant growth in the number of innovative, low-cholesterol meat product launches such as lean meats in developed markets will hinder the growth of the meat substitute market.

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Type- Segment Analysis

Based on the Type, the market is segmented into concentrates, isolates, and textured. The concentrates segment is expected to dominate the market during the forecast period. Concentrates provide high protein content and low levels of calories. These concentrates are used as ingredients to improve the volume and texture of various products. The reduced prices of concentrates as compared to isolates, and soy protein concentrates (SPC) and the easy to digest feature of concentrates are two other factors that are propelling the growth of the segment in the market.

Source – Segment Analysis

Based on the Source, the market is segmented into soy protein, wheat protein, pea protein, and other sources. The soy protein segment is projected to dominate the market during the forecast period. Soy is known as the best meat substitute and acts as a complete protein source, which is the major factor for its increased usage in

various types of recipes. Soy-based foods can absorb rich flavors from other foods. The soy-based substitutes are made to focus on resembling the form, color, texture, and taste of several meat products.

Form – Segment Analysis

Based on Form, the market is segmented into solid and liquid. The solid form segment is anticipated to grow at a higher CAGR during the forecast period. The solid form of proteins in food products is increasingly preferred by food manufacturers due to their easy usage and ability to maintain the flavor and color of food products. The increased usage of powder and chunks to make sausages, patties, and nuggets will surge the market for this segment. All these benefits are not provided by the liquid form.

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Regional – Segment Analysis:

Based on the region, Asia Pacific is expected to grow at a higher CAGR during the forecast period due to the growing awareness of people about healthy dietary habits. The requirement for health benefits, environment safety, animal welfare, cost affordability, and the increasing variety of plant-based meat products are the factors propelling the growth of the market in this region. The increased awareness created among consumers through global animal welfare organizations, such as PETA (People for the Ethical Treatment for Animals), has encouraged people to consider a meat-free diet. Non-meat-based meals are gaining popularity in Asia, with tofu used especially in Asian cuisines and bean-based congees largely consumed in countries such as China. Furthermore, the growth in the number of start-ups in Asian countries such as Japan, India, and China will further bolster the market growth.

Top Market Players

Various notable players operating in the market include ADM, DuPont, Roquette Frères, Kerry Inc., SOTEXPRO, Beyond Meat, Inc., Crespel & Deiters Group, CHS INC., Südzucker AG, and Puris LLC, among others. 

Key Developments:

• • In 2019, Beyond meat, Inc., a known leader in plant-based meat, declared its partnership with Zandbergen World’s finest meat to produce the brand’s innovative plant-based meats at a new manufacturing facility that was constructed by Zandbergen in Zoeterwounde, the Netherlands.

Segments covered in the Report:

The global meat substitutes market has been segmented on the basis of type, source, product, form and regions. Based on Type, the market is segmented into concentrates, isolates, and textured. Based on Source, the market is segmented into soy protein, wheat protein, pea protein, and other sources. Based on Product, the market is segmented into tofu, tempeh, seitan, quorn, and other products. Based on Form, the market is segmented into solid and liquid. 

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Key questions answered in this research report:

• • At what pace is global meat substitutes market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in meat substitutes market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global meat substitutes market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various source areas of global meat substitutes market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Source, By Product, By Form, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ADM, DuPont, Roquette Frères, Kerry Inc., SOTEXPRO, Beyond Meat, Inc., Crespel & Deiters Group, CHS INC., Südzucker AG, Puris LLC, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Meat Substitutes Market by Type

• • Concentrates
  • Isolates
  • Textured

Global Meat Substitutes Market by Source

• • Soy protein
  • Wheat protein
  • Pea protein
  • Other sources

Global Meat Substitutes Market by Product

• • Tofu
  • Tempeh
  • Seitan
  • Quorn
  • Other Products

Global Meat Substitutes Market by Form

• • Solid
  • Liquid

Global Meat Substitutes Market by Region

• • North America Meat Substitutes Market (Option 1: As a part of the free 25% customization)
    • North America Market by Type
    • North America Market by Source
    • North America Market by Product
    • North America Market by Form
    • US Market All-Up
    • Canada Market All-Up
  • Europe Meat Substitutes Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Type
    • Europe Market by Source
    • Europe Market by Product
    • Europe Market by Form
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Meat Substitutes Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Source
    • Asia-Pacific Market by Product
    • Asia-Pacific Market by Form
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Meat Substitutes Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Type
    • RoW Market by Source
    • RoW Market by Product
    • RoW Market by Form
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ADM
  • DuPont
  • Roquette Frères
  • Kerry Inc.
  • SOTEXPRO
  • Beyond Meat, Inc.
  • Crespel & Deiters Group
  • CHS INC.
  • Südzucker AG
  • Puris LLC