Meat Substitute Market

The Meat Substitute Market is valued at USD 5.66 Billion in 2021 and is expected to reach USD 12.36 Billion by 2028 with a CAGR of 11.80% over the forecast period.

Meat substitute Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Meat substitute Market place for the forecast 2022– 2028

The rising concerns regarding the animal welfare and the increase in the adverse effects of meat industry on environment are anticipating to augment this growth in the global meat substitute market.

Scope:

Meat substitute is known also as the meat analog, faux meat, mock meat and vegetarian meat. These resemble the chemical and aesthetic characteristics of meat which include the basic flavor, texture, taste and appearance of meat. A huge part of the meat substitute are soy based and gluten based. The vegetarians are choosing to reduce their consumption of meat for the ethical and health reasons and there are a few people who are sticking to the dietary laws which exist in the religions of Islam, Hinduism and Judaism. A popular and widely used substitute of meat is tofu.

In terms of segmentation, the meat substitute market has been segmented on the source, type, region and category. In terms of Type, this market has been segmented into the vegetable protein, tofu ingredients, tofu, quorn seitan, soya products, pea-protein, tempeh, lupi, vales and risofu. In terms of source, the global meat substitute market has been categorized into the wheat based, mycoprotein, soy based and the others. On the basis of category, this market has been divided into the refrigerated and frozen.

Companies:

The major companies which are involved in the market of meat substitutes includes are,

• Amy’s Kitchen
• Ahimsa Food
• Meatless B.V
• Quorn Foods
• Sonic Biochem
• Beyond Meat
• Cauldron Foods

Key Segments:

By Product Type:

• Tofu-based
• Tempeh-based
• TVP-based
• Seitan-based
• Quorn-based
• Others

By Source Type:

• Soy-based
• Wheat-based
• Mycoprotein
• Others

By Category Type:

• Frozen
• Refrigerated
• Shelf Stable

By Regional Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Awareness About Harmful Effects On Environment Leading To The Growth In The Global Meat Substitute Market

Meat is a big source of cholesterol, protein and the saturated fats. The regular consumption of the meat is a major cause of the cardiovascular diseases, atherosclerosis, obesity, osteoporosis, diabetes and even cancer. The consumers have been inclined towards the health and wellness in the recent times and this has been leading to a major decline in the red meat consumption which is a major source of protein and this is expected for fueling growth in the market. A few of the companies which are meat producing who have been engaged in the products of meat have been entering the market of meat substitute production. The meat substitute market has been seeing a good amount of growth in the last few years and is expected to further see growth in the next few years. However the ongoing demand for the poultry meat particularly chicken and the fluctuating prices of the raw materials and pose a major challenge before the market of meat substitutes.

North America Is Expected To Be The Biggest Regional Global Meat Substitute Market

In terms of the region, the market has been segmented into the North America, Latin America, Asia- Pacific, Europe and the region of Middle East and Africa. North America has been known for contributing the largest share of market, as the United States has been dominating the global meat substitute market which has been followed by the regions like Asia Pacific and Europe. Asia-Pacific is going to witness a major growth in the coming years. The countries like China, Japan and India are showing a good amount of growth in the global meat substitutes market. The demand has been growing in the regions of Europe and Asia Pacific for the soy free and gluten free meat. The government of China has been considered to be reducing the consumption to half of meat owing to increased consumption of the meat by people, in close to fifteen years and this is going to growth the market of meat substitutes.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 5.66 Billion
Base year considered	2021
Forecast Period CAGR %:	11.80%
Market Size Expected in 2028:	USD 12.36 Billion
Tables, Charts & Figures:	175
Pages	200
Key Players/Companies	Amy’s Kitchen, Ahimsa Food, Meatless B.V, Quorn Foods, Sonic Biochem, Beyond Meat, Cauldron Foods
Segments Covered	By Product Type, By Category Type, By Source Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa