Meat Substitute Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032

Report code : IS75, Status : Published, Published on: Jul, 2023, Pages : 174 Pages, Format : PDF/PPT/Excel

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Description

The global meat substitute market was estimated to be US$ 5.70 Billion in 2022 and is expected to reach US$ 16.85 Billion by 2032 at a CAGR of 11.5%.

Factors such as the health advantages linked with meat substitutes, inclination of customers towards these products is rising across the world. The consumption of meat substitutes is beneficial for health owing to the high protein content. Rise in health awareness among consumers along with altering the preferences towards vegetarian diet are anticipated to propel the meat substitutes market growth during the forecasted years. Soy is the major raw material utilized for meat substitutes and is projected to render maximum revenue in the forecast years.

Large number of companies are investing profoundly in research and development activities in order to launch superior products and also broaden their product portfolio in order to meet the developing demand for meat substitutes especially from emerging economies. The organizations working in meat substitutes market are majorly involved in partnerships as well as collaborations in order to reinforce their product portfolio.

The global meat substitutes market is classified based on product type and raw material. Depending upon product type, the global market is divided into tofu based products, quorn, tempeh, textured vegetable protein, tofu, other soy products, seitan, and others. The textured vegetable protein market segment is projected to be the major segment in terms of revenue share over future years. Factors such as rise in demand for soy-based meat substitutes among the consumers are leading to the high growth of the market. Based on raw material used, the global meat substitutes market is classified into wheat based, mycoprotein, soy based and others. Among the different types of raw material utilized for meat substitutes, soy is the leading market segment, followed by wheat based over the forecast years. The wheat based meat substitutes market is increasing especially in Asia-Pacific region owing to the large consumption of wheat gluten by people in Asia Pacific region. Based on region, the global meat substitutes market is classified into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.

The global meat substitutes market is anticipated to witness strong growth over the future years owing to the increasing health awareness along with rising outbreak of animal diseases. Based upon regions, the European regional segment is likely to contribute largest market share, followed by North America during the future period.

Rise in health concern of consumers in developed regions such as Europe and North America is estimated to propel the growth of the meat substitute market. However, the Asia-Pacific regional market is estimated to witness significant growth due to the increasing disposable income of consumers in developing regions.

The major players in the meat substitutes market are Quorn Foods Inc., AMY's Kitchen, Inc., Vbites Foods Ltd , Beyond Meat, gardein, Meatless B.V., Blue Chip Group Pty Ltd and Cauldron Foods. The major players operating in meat substitues market are chiefly adopting strategy to increasingly produce novel and superior products to cater to the budding and unmet need of consumers.

Segmentation:

By Product Type

By Raw Material

Wheat Based
Mycoprotein
Soy Based
Others

By Geography

North America
- United States
- Canada
- Rest of North America
Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
South America
- Brazil
- Rest of South America

Table Of Content

1. Introduction
  - Research Objectives
  - Report Assumptions
  - Research Methodology
  - Abbreviations
2. Preface
  - Market Definition
  - Report Scope and Market Segmentation
  - Research Highlights
3. Market Synopsis: Global Meat Substitute Market
4. Global Meat Substitute Market Qualitative Analysis
  - Trends
    - Market trends
    - Technology Trends
  - PESTLE Analysis (For 3 prominent countries)
  - Market Influencers
    - Driving Forces
    - Hindering Forces
    - Opportunities
  - COVID-19 impact
5. Global Meat Substitute Market Analysis and Forecast, by Product Type
  - Overview and definitions
  - Key segment analysis
  - Global Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
1. Global Meat Substitute Market Analysis and Forecast, by Source
  - Overview and definitions
  - Key segment analysis
  - Global Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
1. Global Meat Substitute Market Analysis and Forecast, by Distribution Channel
  - Overview and definitions
  - Key segment analysis
  - Global Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
1. Global Meat Substitute Market Analysis and Forecast, by Region
  - Overview and definitions
  - Key segment analysis
  - Global Meat Substitute Market Estimates (US$ Mn), by Region, 2019 – 2032
    - North America
    - Europe
    - Asia Pacific
    - Middle East & Africa
    - South America
1. North America Meat Substitute Market Analysis and Forecast
  - Overview and definitions
  - Key segment analysis
  - North America Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
  - North America Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
  - North America Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
    - North America Meat Substitute Market Estimates (US$ Mn), Country, 2019 – 2032
      - United States
      - Canada
      - Rest of North America
1. Europe Meat Substitute Market Analysis and Forecast
  - Overview and definitions
  - Key segment analysis
  - Europe Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
  - Europe Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
  - Europe Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
    - Europe Meat Substitute Market Estimates (US$ Mn), Country, 2019 – 2032
      - Germany
      - United Kingdom
      - Italy
      - France
      - Spain
      - Rest of Europe
1. Asia Pacific Meat Substitute Market Analysis and Forecast
  - Overview and definitions
  - Key segment analysis
  - Asia Pacific Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
  - Asia Pacific Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
  - Asia Pacific Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
    - Asia Pacific Meat Substitute Market Estimates (US$ Mn), Country, 2019 – 2032
      - Japan
      - India
      - China
      - Australia
      - Rest of Asia Pacific
1. Middle East & Africa Meat Substitute Market Analysis and Forecast
  - Overview and definitions
  - Key segment analysis
  - Middle East & Africa Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
  - Middle East & Africa Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
  - Middle East & Africa Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
    - Middle East & Africa Meat Substitute Market Estimates (US$ Mn), Country, 2019 – 2032
      - Saudi Arabia
      - UAE
      - South Africa
      - Rest of Middle East
1. South America Meat Substitute Market Analysis and Forecast
  - Overview and definitions
  - Key segment analysis
  - South America Meat Substitute Market Estimates (US$ Mn), by Product Type, 2019 – 2032
    - Tofu
    - Tempeh
    - Seitan
    - Quorn
    - Natto
    - Other Products
  - South America Meat Substitute Market Estimates (US$ Mn), by Source, 2019 – 2032
    - Soy-based
    - Wheat-based
    - Mycoprotein-based
    - Other sources
  - South America Meat Substitute Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
    - Business to Business
    - Business to Consumers
      - Modern trade
      - General trade
      - Specialty stores
      - Online
      - Others
    - South America Meat Substitute Market Estimates (US$ Mn), Country, 2019 – 2032
      - Brazil
      - Rest of South America
1. Competition Analysis – Meat Substitute Market
  - Market Composition
  - Market Share Analysis (%), by Supplier (2022)
  - Company Profiles
    - Beyond Meat Inc.
      - Business overview
      - Geographic presence
      - Product portfolio
      - Financial facts
      - Relevant news and strategic view
    - Impossible Foods Inc.
    - Garden Protein International, Inc.
    - Amy’s Kitchen Inc.
    - The Hain Celestial Group, Inc.
    - Sahmyook Foods
    - Axiom Foods
    - Lightlife Foods, Inc.
    - Marlow Foods Ltd.
    - Taifun –Tofu GmbH
    - Atlantic Natural Foods LLC
    - VBIte Food Ltd
    - Nutrisoy Pty Ltd.
    - Conagra Brands, Inc.
1. Conclusion & Recommendations

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Frequently asked questions about this report

How much is the meat substitutes market worth?

The meat substitutes market is expected to reach US$ 16.85 Billion by 2032.

What is the growth rate of the meat substitutes market?

The meat substitutes market is expected grow at a CAGR of 11.5% between 2023 to 2032.

What was the size of the global meat substitutes market in 2022?

The meat substitutes market was estimated to be US$ 5.70 Billion in 2022.

What are the major driving factors and opportunities in the meat substitutes market?

Rise in health awareness among consumers along with altering the preferences towards vegetarian diet are anticipated to propel the meat substitutes market growth during the forecasted years.

Who are the key players in meat substitutes market?

Quorn Foods Inc., AMY's Kitchen, Inc., Vbites Foods Ltd , Beyond Meat, gardein, Meatless B.V., Blue Chip Group Pty Ltd and Cauldron Foods among others, are the major players in the meat substitutes market.