Meat Substitute Market

Meat Substitute Market - Size, Share,
Trends Forecast till 2025
Meat substitute also called as meat analogue is a meatless food that has similar
appearance, taste, and texture as food made from meat, fish, and poultry. It is majorly
made from non-meat ingredients and sometimes without using dairy products. The meat
substitutes serve to vegetarian population, as they do not prefer meat consumption due
to health, animals or environmental concern. Various health benefits associated with
meat substitute such as aid in weight loss, preservation of bones, and maintaining
normal blood sugar are some of the factors fueling growth of the meat substitute
market.
Meat substitutes such as plant-based meat substitutes are not suitable for everyone and
especially to gluten intolerant or sensitive individuals. Such allergy may lead to
increased intestinal permeability and gut inflammation, which is major factor hindering
the meat substitute market growth.
Download PDF Brochure at :
https://www.coherentmarketinsights.com/insight/request-pdf/2083
The global meat substitute market was valued at US$ 3.9 billion in 2016, and is
expected to expand at a CAGR of 7.6% in terms of revenue, during 2018– 2025. Meat
substitutes are healthy, cholesterol free, low cost, and have meat-like texture, color, and
taste along with long shelf life, which is driving growth of the global meat substitutes
market.
Among product type, tofu segment accounted for the highest market share in 2017.
Tofu, originated in China about 2000 years ago, is efficient source of protein and
contains all eight essential amino acids. Notable health benefits of tofu include low
cholesterol levels, maintaining cardiovascular health, preventing osteoporosis, and ease
menopause symptoms.
Among source, the soy-based segment is expected to account for a significant revenue
share during the forecast period, owing to increasing consumption of soybean due to its
nutritional contents, as it is a source of calcium and linoleic acid. For instance,
according to the U.S. International Trade Administration (ITA), in Mexico, the total
soybean domestic consumption was 4,446 thousands of metric tons in 2015, and
reached up to 4,700 thousands of metric tons in 2016.
Europe accounted for the largest revenue share of 33% in the global meat substitute
market in 2017, and is expected to maintain its dominance over the forecast period.
This is attributed to increasing awareness about health benefits of the meat substitutes.
Meat substitutes such as tempeh which is a high source of calcium, vitamins, minerals
and antioxidants that help to lower cholesterol levels thus people prefer meat
substitutes.
North America is expected to account for fastest growing market share in the global
meat substitute market, in terms of revenue over the forecast period. This is attributed
to increasing consumer preference for meat substitutes and decreasing consumption of
meat, owing to rising concern regarding animal welfare among consumers. According to
the United States Department of Agriculture, in 2014, the aggregate poultry, red meat,
fish, edible basis fell to 181 pounds per person since 1983. Furthermore, market players
are focused on new product launches for gaining the demand for meat substitutes in the
region. For instance, in July 2018, Beyond Meat launched new types of plant-based
meat burgers that are similar to meat-based burgers in taste, appearance, and smell.
Such R&D activities by key players is boosting growth of the market.
Key players are focusing on adopting various organic and inorganic growth strategies
such as mergers and acquisitions, joint ventures and partnerships, and product or
technological innovations to retain position in the global meat substitute market. For
instance, in February 2017, Quorn Foods and Shakey’s Pizza Restaurant, partnered to
introduce meat free pizza made from mycoprotein.
Major Players in the Global Meat Substitute Market
Some of the key players operating in the global meat substitute market include
DowDuPont Inc., Archer Daniels Midland Company, Amy’s Kitchen Inc., MGP
Ingredients, Inc., Beyond Meat Inc., Sonic Biochem Extractions Ltd., VBites Foods
Limited, The Nisshin OilliO Group, Ltd. Garden Protein International, MorningStar
Farms, and Meatless BV.
For More Information :
https://www.coherentmarketinsights.com/market-insight/meat-substitute-market-2083
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting services,
and competitive analysis through various recommendations related to emerging market
trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

The market research report on Meat Substitute Market segments the global market by Product Type, Source, Category, Distribution Channel and Region - Size, Share, Trends and Forecast to 2025