The global meat substitutes market showed a growth of 3.49 USD billion in 2018 with a growth rate of 7.9%. The factors that are paving way to the growth of meat substitutes is the increasing millennial population worldwide and also the growing demand for plant-based meat products. The rising health awareness amongst consumer is also one of the important factors for the growth of the market.
The adroit market research report for global meat substitutes is a detailed analysis report representing data from the 2015 to 2025. It includes sections such as market drivers, restraints, opportunities and challenges. The historic years taken into consideration are from 2015 to 2017, and the base year is 2018 followed by the forecasted period, 2015 to 2025. The report also covers, strategic developments of the key players of the market.
Vegetarian foods share a wider shelf space than ever before in today's industry due to increasing public safety and environmental issues. An analogue can be described as a compound that is structurally similar to another but slightly differs in its composition. Here the meat analogue is a product that is structurally similar to the meat but varies in its composition. Meat equivalent, also referred to as meat substitute, artificial meat, fake meat or imitation meat, approximates the esthetic qualities (primarily texture, taste and appearance) and/or the chemical characteristics of different types of meat. Typically, meat analogue is known to mean food made from non-meat ingredients, often without dairy products and available in various types.
Some meat analogues are based on centuries-old recipes for wheat gluten, rice, mushrooms, legumes, tempeh or tofu, with flavoring applied to make the finished product taste like chicken, beef, lamb, ham, pork, seafood, etc. They can be used to reduce the cost of formulation as they are cheaper than beef. Many qualities, such as the ability to preserve water and moisture during cooking, reheating, freezing and thawing, make them highly appreciable. Texturized vegetable proteins (TVPs) are widely used to provide the desired consistency, texture, binding capacity and quantity of chewiness, or to make the product firmer or softer. There are many health benefits of meat analog consumption over meat, such as protection against heart disease, lowering blood cholesterol, reducing cancer risk and rising bone mass. Food scientists are now developing meat substitutes that actually taste like meat and have the same "mouth feel" as their natural counterparts.
The market is diverged based on source, type and product. On the basis of type, the concentrate segment is expected to have the fastest growth in the demand for meat substitutes during the forecast period. The solid segment is expected to rise at a lucrative pace over the forecast period. Based on the product type, the tofu and tempeh segments accounted for 42.44 % and 31.16 % of the total market share of the global meat substitute market. Geographically, Asia-Pacific dominated the global market for meat substitutes in 2018; however, North America and Europe are expected to be the fastest growing region by 2025.
Both domestic and regional companies are offering a range of meat alternatives around the world. Big suppliers are present in the North American and European countries. Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry (Ireland), Ingredion (US), Sotexpro S.A (France), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), Emsland Group (Germany) and Cargill (US).
Key Segments of the Global Meat Substitutes Market
Source Overview, 2015-2025 (USD Million) (K MT)
- Soy protein
- Wheat protein
- Pea protein
Type Overview, 2015-2025 (USD Million) (K MT)
Product Type Overview, 2015-2025 (USD Million) (K MT)
Form Type Overview, 2015-2025 (USD Million) (K MT)
Regional Overview, 2015-2025 (USD Million) (K MT)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa