Global Meat Substitutes Market Overview
Global Meat Substitutes Market was valued at USD 6.31 Billion in 2023 and is expected to reach USD 17.08 Billion by the year 2032, Growing at a CAGR of 11.7% From 2024-2032.
The market for meat substitutes has experienced significant growth in the past few years, fueled by various factors other than just the increase in vegan and vegetarian diets. Environmental sustainability, the search for different protein sources, and animal welfare all play important roles in the increase in popularity of plant-based alternatives due to significant innovations. Food companies have introduced plant-based burger patties and breaded nuggets that mimic the flavor, consistency, and feeling of fullness of traditional meat options. Nevertheless, despite the rapid growth, knowledge about food safety risks is still lacking, especially when it comes to microbial growth and inactivation rates. Consumers are also figuring out how to safely handle these new products.
With the growing demand for Meat Substitutes, there is a landscape full of opportunities and challenges. The market is growing not just because of changing dietary preferences, but also due to a wider societal movement towards sustainable and ethical consumption. Nevertheless, the sector is facing a pressing requirement for more investigation into food safety aspects, underscoring a vital area for future growth. In the end, stakeholders need to work together to guarantee the ongoing advancement, safety, and availability of Meat Substitutes in the global market as consumer interest in plant-based alternatives grows.
Market Dynamics And Factors For The Meat Substitutes Market
Drivers:
Rising Inclination Towards Plant-Based Proteins
The market for meat-based proteins recorded high demand, worldwide, in the past decade, with most of the population in Europe and North America highly dependent on the meat products for required, daily protein intake. Though meat proteins offer the required content of amino acids for the body, they are highly related to cholesterol content, which proved to be a major cause of serious health issues. This became the primary reason for an increase in the demand for plant-based protein food, especially in emerged economies such as the United States, France, and the United Kingdom, Germany. With developed technologies, the companies are focusing on consumers, by coming up with innovative products with similar properties as real meat. These meat substitutes are made comprises with soy, wheat, and pea protein to attain the desired structure. With the adoption of western cuisine, the countries in Asia are also shifting toward meat substitutes, which is anticipated to turn the meat substitutes market. Australia and China are the two major countries that are rapidly switching toward meat substitutes and plant-based products.
Growing Investments in Vegan Protein Ingredients
Developments in plant-based proteins have had a positive impact on the advancement of meat substitute products. Producers are infusing plant-based ingredients to produce meat alternatives, which has gained widespread acceptance among consumers. As per the European Regional Development Fund, 22% of UK consumers convey that they consume more protein from other sources rather than meat. For the millennials and generation, the numbers have raised to 25%, determining the high growth of the protein substitutes market in the country. This factor proves positive for the meat substitutes market and works in its favor owing to the shifting consumer preferences and the high adaptability rate among consumers. The growing investments made by ingredient manufacturers are accelerating meat substitutes market growth.
Restraints:
The requirement to diversify meat production has led to the production of low-cholesterol meat products, lean meats and these pose a threat to the sector. The stable demand for poultry meat especially chicken also poses a challenge to the industry. Apart from this, varying the price of the raw materials poses a challenge to the industry. Furthermore, some people have soy allergies and gluten intolerance. Additionally, as per the Food Allergy Research & Education organization (US), soy and wheat are two of the top eight major food allergens responsible for most of the serious food allergy reactions in the US.' For example, soybeans are rich in nutrient content, such as vitamins, minerals, isoflavones, and proteins; however, anti-nutritional components present in soy could cause health issues, such as soy allergy.
Opportunities:
Growing the various disease in the animal, a shift in preference of the food over the youth and people are more health cautious owing to rise in obesity are the factors that create the growth opportunity for meat substitute market in the upcoming years. In addition, the flexitarian trend amongst Kiwi consumers is on the growth, and consumers are increasingly demanding variants in vegan and meat substitutes. This presents an enormous opportunity for Australia to expand its export base of meat substitutes especially tempeh in New Zealand. The major producers are funding R&D and developing new plant-based protein, which may raise the demand for meat substitutes in the global market.
Market Segmentation
Segmentation Analysis of Meat Substitutes Market:
Based on Source, the soy protein segment is anticipated to dominate the meat substitutes market during the forecast period. The growth of the segment is attributed to the ability of soy-based products to absorb rich flavors from other food and it is called a complete source of protein. Other plant proteins don't have the complete nutritional value that soy does. Eating soy protein isolate rather than animal proteins can help boost overall heart health. Soy protein isolate supplements are meant to make feel full. In addition, soy foods are rich in vitamins and minerals including zinc, B vitamins, and iron. Some supplements have calcium and vitamin D in them, too. There are also enough antioxidants in soy. Owing to this soy protein has to gain popularity among individuals which helps to boost the meat substitutes market over the forecast period.
Based on Product, the tempeh-based product is expected to record the maximum meat substitutes market share during the forecast period. Tempeh is a major source of protein and is also a famous Indonesian dish. It has a cake-like consistency and is made from cooked and slightly fermented soybeans. Though tempeh is highly perishable, in industrial production, it can be stored by drying and/or freezing. Tempeh is stringy and has a nutty and earthy taste. As tempeh is generally made from nuts, it is richer in calories, potassium, proteins, iron, and fibers. The demand for tempeh is rising, as it is a low-cost product among other meat substitutes, which are rich in protein. Tempeh is solid and grainy in texture than tofu.
Based on Product Type, the concentrates segment is expected to register significant meat substitutes market share over the forecast period. Concentrates, if added to a product, provide a high protein content and very low levels of calories. These concentrates are used as ingredients to improve the volume and texture of different products.
Based on the Form, the solid form segment is anticipated to record the highest meat substitutes market share over the forecast period. The solid form of proteins has more shelf life as compared to the liquid form. Due to this, it is highly preferred by manufacturers and consumers. The solid form of protein sometimes resembles meat in terms of appearance and texture, which makes it a great meat substitute.
Based on Category, the meat substitute market is categorized into refrigerated, frozen, and shelf-stable. The frozen segment recorded the highest revenue. Frozen burgers, sausages, patties, nuggets, pizza, crumbles, strips, and other such products have gained popularity, due to their longer shelf life.
Based on the Distribution Channel, the offline segment is anticipated to dominate the meat substitutes market, owing to the specialty stores that can serve the customized and specific requirements of consumers. In addition, wider reach, greater shelf life, attractive discounts, easy availability, and massive strategies are the factor responsible to augment the offline segment as compared to the online segment which helps to boost the market over the forecast period.
Regional Analysis of Meat Substitutes Market:
The Asia Pacific region continues to surge ahead as the powerhouse of the global meat substitutes market, maintaining its rapid growth momentum. A cornerstone of this dominance lies in the region's ingrained acceptance and utilization of plant-based ingredients within its diverse culinary landscape. Tofu, renowned for its versatility, and bean-based broths, a breakfast staple in many Asian countries, illustrate this rich tradition of embracing meat alternatives.
This deep-rooted familiarity with plant-based foods sets the stage for innovation, fostering a receptive market environment. Moreover, a growing emphasis on health and environmental consciousness among consumers further fuels the demand for meat substitutes. These products are increasingly perceived as a means to promote personal well-being while minimizing ecological footprints, resonating strongly with a widening customer base.
China epitomizes this regional trend, boasting the largest market share for meat substitutes in the Asia Pacific. Several factors contribute to this leadership position, notably government initiatives aimed at curbing meat consumption. The introduction of dietary guidelines in 2021, advocating for greater reliance on plant-based proteins, underscores this commitment. Concurrently, consumer adoption of plant-based alternatives is on the rise, with companies like OmniPork making significant headway, particularly in markets such as Hong Kong, where sustainability and health are key selling points.
Backed by a robust cultural heritage, escalating awareness of health and environmental issues, and proactive governmental measures in certain jurisdictions, the outlook for the Asia Pacific region as the vanguard of the meat substitutes market appears exceedingly promising.
Players Covered in Meat Substitutes market are :
- A&B Ingredients (Canada)
- Cargill Incorporated (US)
- DowDuPont Inc. (US)
- Archer Daniels Midland Company (US)
- Kerry Group (Ireland)
- Ingredion Incorporated (US)
- Amy's Kitchen Inc. (US)
- Roquette Frères (France)
- PURIS (US)
- The Nisshin OilliO Group Ltd (Japan)
- Axiom Foods (US)
- Beneo (Germany)
- MGP Ingredients Inc. (US)
- The Top Health Ingredients (Canada)
- Sonic Biochem Ltd (India)
- VBites Foods Limited (UK)
- Crespel & Deiters (Germany)
- Quorn Foods (UK)
- Wilmar International Limited (Singapore)
- Sotexpro S.A (France)
- Batory Foods (US)
- Morningstar Farms L.C. (US)
- All Organic Treasures GMBH (Germany)
- The Green Labs LLC (US)
- Shandong Jianyuan Group (China)
- ET Chem (China)
- Beyond Meat (US)
- Gardein
- Meatless (Canada) and others major key players.
Key Industry Developments In The Meat Substitutes Market
- In February 2024, Beyond Meat revealed intentions to introduce an updated iteration of its plant-based meat alternative burger for retail distribution in U.S. grocery stores.
- In January 2024, Continental Coffee Limited introduced a range of new vegan offerings under its meat substitute label, Continental Greenbird. The lineup includes chicken-style nuggets, chicken-style seekh kebabs, chicken-style sausages, and mutton-style keema.
- In April of 2023, ADM unveiled its state-of-the-art plant-based innovation laboratory, situated within ADM's Biopolis research center in Singapore. This cutting-edge facility empowered the company to craft innovative, nutritionally rich products tailored to the evolving demands of the Asia Pacific region.
- In November 2022, Ingredion Incorporated finalized an agreement with its joint venture partners to purchase full ownership of Verdient Foods (Canada), a prominent producer of plant-based protein. This acquisition is anticipated to position Ingredion Incorporated to meet the growing consumer interest in plant-based food offerings.
Global Meat Substitutes Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 6.31 Bn. |
Forecast Period 2022-28 CAGR: |
11.7% |
Market Size in 2032: |
USD 17.08 Bn. |
Segments Covered: |
By Source |
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By Product |
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By Products Types |
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By Form |
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By Category |
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By Distribution Channel |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Category
3.3 By Distribution Channels
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Meat Substitutes Market by Type
5.1 Meat Substitutes Market Overview Snapshot and Growth Engine
5.2 Meat Substitutes Market Overview
5.3 Tofu
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Tofu: Grographic Segmentation
5.4 Seitan
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Seitan: Grographic Segmentation
5.5 Quorn
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Quorn: Grographic Segmentation
5.6 Others
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Others: Grographic Segmentation
Chapter 6: Meat Substitutes Market by Category
6.1 Meat Substitutes Market Overview Snapshot and Growth Engine
6.2 Meat Substitutes Market Overview
6.3 Automotive & Transportation
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Automotive & Transportation: Grographic Segmentation
6.4 Agriculture
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Agriculture: Grographic Segmentation
6.5 Industrial
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Industrial: Grographic Segmentation
6.6 Oil & Gas
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Oil & Gas: Grographic Segmentation
6.7 Other
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size (2017-2032F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Other: Grographic Segmentation
Chapter 7: Meat Substitutes Market by Distribution Channels
7.1 Meat Substitutes Market Overview Snapshot and Growth Engine
7.2 Meat Substitutes Market Overview
7.3 Online
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Online: Grographic Segmentation
7.4 Offline
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Offline: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Positioning
8.1.2 Meat Substitutes Sales and Market Share By Players
8.1.3 Industry BCG Matrix
8.1.4 Ansoff Matrix
8.1.5 Meat Substitutes Industry Concentration Ratio (CR5 and HHI)
8.1.6 Top 5 Meat Substitutes Players Market Share
8.1.7 Mergers and Acquisitions
8.1.8 Business Strategies By Top Players
8.2 A&B INGREDIENTS
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.2.8 SWOT Analysis
8.3 CARGILL INCORPORATED
8.4 DOWDUPONT INC.
8.5 ARCHER DANIELS MIDLAND COMPANY
8.6 KERRY GROUP
8.7 INGREDION INCORPORATED
8.8 AMY'S KITCHEN INC.
8.9 ROQUETTE FRÈRES
8.10 PURIS
8.11 THE NISSHIN OILLIO GROUP LTD
8.12 AXIOM FOODS
8.13 BENEO (GERMANY)
8.14 MGP INGREDIENTS INC.
8.15 THE TOP HEALTH INGREDIENTS
8.16 SONIC BIOCHEM LTD
8.17 VBITES FOODS LIMITED
8.18 CRESPEL & DEITERS
8.19 QUORN FOODS
8.20 WILMAR INTERNATIONAL LIMITED
8.21 SOTEXPRO S.A
8.22 BATORY FOODS
8.23 MORNINGSTAR FARMS L.C.
8.24 ALL ORGANIC TREASURES GMBH
8.25 THE GREEN LABS LLC
8.26 SHANDONG JIANYUAN GROUP
8.27 ET CHEM
8.28 BEYOND MEAT
8.29 GARDEIN
8.30 MEATLESS
8.31 OTHER MAJOR PLAYERS
Chapter 9: Global Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
9.1 Market Overview
9.2 Historic and Forecasted Market Size By Type
9.2.1 Tofu
9.2.2 Seitan
9.2.3 Quorn
9.2.4 Others
9.3 Historic and Forecasted Market Size By Category
9.3.1 Automotive & Transportation
9.3.2 Agriculture
9.3.3 Industrial
9.3.4 Oil & Gas
9.3.5 Other
9.4 Historic and Forecasted Market Size By Distribution Channels
9.4.1 Online
9.4.2 Offline
Chapter 10: North America Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Tofu
10.4.2 Seitan
10.4.3 Quorn
10.4.4 Others
10.5 Historic and Forecasted Market Size By Category
10.5.1 Automotive & Transportation
10.5.2 Agriculture
10.5.3 Industrial
10.5.4 Oil & Gas
10.5.5 Other
10.6 Historic and Forecasted Market Size By Distribution Channels
10.6.1 Online
10.6.2 Offline
10.7 Historic and Forecast Market Size by Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
Chapter 11: Europe Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Tofu
11.4.2 Seitan
11.4.3 Quorn
11.4.4 Others
11.5 Historic and Forecasted Market Size By Category
11.5.1 Automotive & Transportation
11.5.2 Agriculture
11.5.3 Industrial
11.5.4 Oil & Gas
11.5.5 Other
11.6 Historic and Forecasted Market Size By Distribution Channels
11.6.1 Online
11.6.2 Offline
11.7 Historic and Forecast Market Size by Country
11.7.1 Germany
11.7.2 U.K.
11.7.3 France
11.7.4 Italy
11.7.5 Russia
11.7.6 Spain
11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Tofu
12.4.2 Seitan
12.4.3 Quorn
12.4.4 Others
12.5 Historic and Forecasted Market Size By Category
12.5.1 Automotive & Transportation
12.5.2 Agriculture
12.5.3 Industrial
12.5.4 Oil & Gas
12.5.5 Other
12.6 Historic and Forecasted Market Size By Distribution Channels
12.6.1 Online
12.6.2 Offline
12.7 Historic and Forecast Market Size by Country
12.7.1 China
12.7.2 India
12.7.3 Japan
12.7.4 Singapore
12.7.5 Australia
12.7.6 New Zealand
12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Tofu
13.4.2 Seitan
13.4.3 Quorn
13.4.4 Others
13.5 Historic and Forecasted Market Size By Category
13.5.1 Automotive & Transportation
13.5.2 Agriculture
13.5.3 Industrial
13.5.4 Oil & Gas
13.5.5 Other
13.6 Historic and Forecasted Market Size By Distribution Channels
13.6.1 Online
13.6.2 Offline
13.7 Historic and Forecast Market Size by Country
13.7.1 Turkey
13.7.2 Saudi Arabia
13.7.3 Iran
13.7.4 UAE
13.7.5 Africa
13.7.6 Rest of MEA
Chapter 14: South America Meat Substitutes Market Analysis, Insights and Forecast, 2017-2032
14.1 Key Market Trends, Growth Factors and Opportunities
14.2 Impact of Covid-19
14.3 Key Players
14.4 Key Market Trends, Growth Factors and Opportunities
14.4 Historic and Forecasted Market Size By Type
14.4.1 Tofu
14.4.2 Seitan
14.4.3 Quorn
14.4.4 Others
14.5 Historic and Forecasted Market Size By Category
14.5.1 Automotive & Transportation
14.5.2 Agriculture
14.5.3 Industrial
14.5.4 Oil & Gas
14.5.5 Other
14.6 Historic and Forecasted Market Size By Distribution Channels
14.6.1 Online
14.6.2 Offline
14.7 Historic and Forecast Market Size by Country
14.7.1 Brazil
14.7.2 Argentina
14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Global Meat Substitutes Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
|
|
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 6.31 Bn. |
Forecast Period 2022-28 CAGR: |
11.7% |
Market Size in 2032: |
USD 17.08 Bn. |
Segments Covered: |
By Source |
|
|
By Product |
|
||
By Products Types |
|
||
By Form |
|
||
By Category |
|
||
By Distribution Channel |
|
||
By Region |
|
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Key Market Drivers: |
|
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Meat Substitutes Market research report is 2024-2032.
A&B Ingredients (Canada), Cargill Incorporated (US), DowDuPont Inc. (US), Archer Daniels Midland Company (US), Kerry Group (Ireland), Ingredion Incorporated (US), Amy's Kitchen Inc. (US), Roquette Frères (France), PURIS (US), The Nisshin OilliO Group Ltd (Japan), Axiom Foods (US), Beneo (Germany), MGP Ingredients Inc. (US), The Top Health Ingredients (Canada), Sonic Biochem Ltd (India), VBites Foods Limited (UK), Crespel & Deiters (Germany), Quorn Foods (UK), Wilmar International Limited (Singapore), Sotexpro S.A (France), Batory Foods (US), Morningstar Farms L.C. (US), All Organic Treasures GMBH (Germany), The Green Labs LLC (US), Shandong Jianyuan Group (China), ET Chem (China), Beyond Meat (US), Gardein, Meatless (Canada), and Other Major Players.
The Meat Substitutes Market is segmented into Source, Product, Products Types, Form, Category, Distribution Channel, and region. By Source, the market is categorized into Soy Protein, Wheat Protein, Pea Protein, and Others. By Product, the market is categorized into Tofu, Tempeh, Textured Vegetable Protein, Seitan, Quorn, and Others. By Products Types, the market is categorized into Concentrates, Isolates, and Textured. By Form, the market is categorized into Solid, Liquid. By Category, the market is categorized into Frozen, Refrigerated, and Shelf-Stable. By Distribution Channel, the market is categorized into Mass Merchandisers, Specialty Stores, Online Retail, Food Service, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Meat substitute referred to as meat analog, mock meat, cultured meat, faux meat, or meat alternatives a healthy replacement of meat that resembles chemical characteristics and aesthetic qualities such as flavor, taste, appearance, and the basic texture of meat.
Global Meat Substitutes Market was valued at USD 6.31 Billion in 2023 and is expected to reach USD 17.08 Billion by the year 2032, Growing at a CAGR of 11.7% From 2024-2032.