GLOBAL MEAT SUBSTITUTE MARKET FORECAST 2019-2027

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GLOBAL MEAT SUBSTITUTE MARKET FORECAST 2019-2027

The global meat substitute market was valued at $4233.57 million in 2018 & is estimated to generate net revenue of approximately $67372 million by 2027, growing at a CAGR of 6.41%. The base year considered for the market study is 2018 & the forecasted period is between 2019 & 2027.

GLOBAL MEAT SUBSTITUTE MARKET FORECAST 2019-2027

Global Meat Substitute Market by Product Type (Tofu Based, Tempeh Based, Tvp Based, Seitan Based, Quorn Based, Other Products) by Category (Frozen, Refrigerated, Shelf Stable) by Source (Soy-based, Wheat Based, Mycoprotein, Other Sources) by Geography.

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The global meat substitute market was valued at $4233.57 million in 2018 & is estimated to generate net revenue of approximately $67372 million by 2027, growing at a CAGR of 6.41%.  The base year considered for the market study is 2018 & the forecasted period is between 2019 & 2027.

The global meat substitute market is mainly driven by:

  • Growing demand for plant-based protein
  • Rising health consciousness among consumers
  • The rise in the obese population

The growing demand for plant-based protein is a major factor driving the growth of the global meat substitute market. Plant-based proteins are rich in protein and fiber. Many companies worldwide are constantly promoting the good health benefits provided by the consumption of meat analogue. The rise in health concerns on the intake of meat is driving the need for meat alternatives in the market. Increase in obesity and supportive government schemes is aiding the growth of meat substitutes globally. For instance, in 2018, the Meghalaya government initiated Mission Jackfruit with a budget of Rs 80 crore to encourage it as a vegan meat option. The growing awareness of climate change, coupled with several types of health issues, is pushing consumers to adopt a plant-based diet.

Soy-based is the leading segment in terms of revenue in the global meat substitute market with a market share of 66.02% in the year 2018. Soy-based foods are gaining importance owing to its meat like structure; tofu, textured vegetable protein, tempeh, and seitan are amongst the most popular soy-based proteins used for the preparation of a wide variety of meat analogues. Many key players include soy as a main ingredient in the production of meat substitute, which is further stimulating the demand for soy-based foods in the market. In 2018, Missouri passed a law that barred companies from claiming meat alternatives as “meat”. This law was challenged by Tofurky, a major key player in the market.

However, the diverse availability of low-fat meat is challenging the growth of the market. Lean meats have gained prominence among consumers owing to the increase in health and fitness consciousness. J.B.S. S.A. is amongst the leading players in the meat processing industry, offering a wide variety of innovative, low-fat beef, pork, lamb, and other meat products. Moreover, the high cost of meat substitutes is further restraining the growth of the market in the forecasting period of 2019-2027.

Report scope of global meat substitute market covers segmentation analysis of product type, category and source

Market by product type:

  • Tofu based
  • Tempeh based
  • TVP based
  • Seitan based
  • Quorn based
  • Other Products

Market by category:

  • Frozen
  • Refrigerated
  • Shelf stable

Market by source:

  • Soy-based
  • Wheat based
  • Mycoprotein
  • Other sources

On the basis of geography, the global meat substitute market has been segmented into four major regions:

Geographically, Europe is the largest market with a market share of 38.18% in terms of revenue in 2018. The dominance of Europe is attributed to the growing awareness to improve health conditions coupled with the need to inculcate sustainable habits. The growing cases of contamination of meat are pushing the demand for meat alternatives in the region. Additionally, the presence of key players in the region is driving the demand for faux meat in the region. The demand for meat substitute is also driven by an increase in the consumption of convenient food, owing to the urbanized lifestyle and demand for snacks made from mock meats. On the other hand, Asia Pacific is the fastest growing region with a CAGR of xx% during the forecast period. The market in the region is growing owing to the rising demand for convenience food and increasing popularity for meat substitutes and snacks. For example, the government in China has issued nutritional guidelines, suggested by the country’s Health Ministry, which aims at reducing the country’s meat intake by half, by 2030.

Global meat substitute market has been segmented on the basis of product type, category, and source. The product type is further sub-segmented into tofu, tempeh, TVP, Seitan, Quorn based, and other products. The category is sub-segmented into frozen, refrigerated and shelf stable. Market by the source is sub-segmented into soy-based, wheat-based, mycoprotein and other sources.

The market has a number of players & some of the major key players involved in global meat substitute market are:

  • Amy’s Kitchen Inc.
  • Beyond Meat
  • Cauldron Foods
  • Vbites Food Ltd.
  • And other companies

In September 2018, Amy’s Kitchen launched a vegan Asian dumpling bowl. The bowl is the newest addition to the brand’s heat-and-serve selection. Currently, it is only available in the United States. This bowl features dumplings, noodles, vegetables, tofu, and a rich and savory hoisin sauce.

Key findings of the global meat substitutes market:

  • Europe leads the global meat substitutes market by capturing the largest market share of around 38.18% in 2018
  • Asia Pacific meat substitute market is anticipated to grow at the highest CAGR of XX% during the forecast period of 2019-2027
  • The continued rise of plant-based protein augmented the growth of meat substitute market for the forecast period
  • Shelf Stable in meat substitute market is projected to grow fastest in the market at CAGR of XX% during the forecasted period
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC DOMINATES THE OVERALL MEAT SUBSTITUTE MARKET
      • GROWING DEMAND FOR WHEAT BASED FOODS
      • RAPID GROWTH IN THE FOOD SERVICE INDUSTRY
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • GROWING DEMAND FOR PLANT-BASED PROTEINS
      • RISING HEALTH CONSCIOUSNESS AMONG CUSTOMERS
      • RISE IN OBESE POPULATION
    • MARKET RESTRAINTS
      • DIVERSE AVAILABILITY OF SUBSTITUTES
    • MARKET OPPORTUNITIES
      • INCREASE IN HEALTH AWARENESS AND VEGETARIANISM
      • RISE IN PENETRATION OF MODERNIZED RETAIL CHAIN
    • MARKET CHALLENGES
      • RELATIVELY HIGH PRICES OF MEAT SUBSTITUTES
      • FOOD ALLERGIES ASSOCIATED WITH SOY-BASED FOOD
  1. MARKET BY PRODUCT TYPE
    • TOFU BASED
    • TEMPEH BASED
    • TVP BASED
    • SEITAN BASED
    • QUORN BASED
    • OTHER PRODUCTS
  2. MARKET BY CATEGORY
    • FROZEN
    • REFRIGERATED
    • SHELF STABLE
  3. MARKET BY SOURCE
    • SOY-BASED
    • WHEAT BASED
    • MYCOPROTEIN
    • OTHER SOURCES
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • AMY’S KITCHEN INC.
    • BEYOND MEAT
    • CAULDRON FOODS
    • QUORN FOODS
    • KELLOG CO.
    • THE TORFURKY COMPANY
    • SUPERBOM
    • MEATLESS BV
    • VBITES FOOD LTD.
    • MGP INGREDIENTS
    • IMPOSSIBLE FOODS INC.
    • CONAGRA BRANDS INC.
    • THE CAMPBELL SOUP COMPANY
    • SONIC BIOCHEM LIMITED
    • VEGABOOM HEALTHY OPTION

LIST OF TABLES

TABLE 1. GLOBAL MEAT SUBSTITUTE MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2. GLOBAL MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2019-2027 (IN $ MILLION)

TABLE 3. GLOBAL TOFU BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4. GLOBAL TEMPEH BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5. GLOBAL TVP BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6. GLOBAL SEITAN BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7. GLOBAL QUORN BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8. GLOBAL OTHER PRODUCTS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9. GLOBAL MEAT SUBSTITUTE MARKET, BY CATEGORY, 2019-2027 (IN $ MILLION)

TABLE 10. GLOBAL FROZEN MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11. GLOBAL REFRIGERATED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12. GLOBAL SHELF STABLE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13. GLOBAL MEAT SUBSTITUTE MARKET, BY SOURCE, 2019-2027 (IN $ MILLION)

TABLE 14. GLOBAL SOY-BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15. GLOBAL WHEAT BASED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16. GLOBAL MYCOPROTEIN MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17. GLOBAL OTHER SOURCES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18. OPPORTUNITY MATRIX

TABLE 19. VENDOR LANDSCAPE

TABLE 20. GLOBAL MEAT SUBSTITUTE MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 21. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 22. EUROPE MEAT SUBSTITUTE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 23. ASIA PACIFIC MEAT SUBSTITUTE MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 24. REST OF WORLD MEAT SUBSTITUTE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1.     GLOBAL MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2018 & 2027 (IN %)

FIGURE 2.     GLOBAL MEAT SUBSTITUTE MARKET, BY TOFU BASED, 2019-2027 (IN $ MILLION)

FIGURE 3.     GLOBAL MEAT SUBSTITUTE MARKET, BY TEMPEH BASED, 2019-2027 (IN $ MILLION)

FIGURE 4.     GLOBAL MEAT SUBSTITUTE MARKET, BY TVP BASED, 2019-2027 (IN $ MILLION)

FIGURE 5.     GLOBAL MEAT SUBSTITUTE MARKET, BY SEITAN BASED, 2019-2027 (IN $ MILLION)

FIGURE 6.     GLOBAL MEAT SUBSTITUTE MARKET, BY QUORN BASED, 2019-2027 (IN $ MILLION)

FIGURE 7.     GLOBAL MEAT SUBSTITUTE MARKET, BY OTHER PRODUCTS, 2019-2027 (IN $ MILLION)

FIGURE 8.     GLOBAL MEAT SUBSTITUTE MARKET, BY FROZEN, 2019-2027 (IN $ MILLION)

FIGURE 9.     GLOBAL MEAT SUBSTITUTE MARKET, BY REFRIGERATED, 2019-2027 (IN $ MILLION)

FIGURE 10.  GLOBAL MEAT SUBSTITUTE MARKET, BY SHELF-STABLE, 2019-2027 (IN $ MILLION)

FIGURE 11.  GLOBAL MEAT SUBSTITUTE MARKET, BY SOY-BASED, 2019-2027 (IN $ MILLION)

FIGURE 12.  GLOBAL MEAT SUBSTITUTE MARKET, BY WHEAT BASED, 2019-2027 (IN $ MILLION)

FIGURE 13.  GLOBAL MEAT SUBSTITUTE MARKET, BY MYCOPROTEIN, 2019-2027 (IN $ MILLION)

FIGURE 14.  GLOBAL MEAT SUBSTITUTE MARKET, BY OTHER SOURCES, 2019-2027 (IN $ MILLION)

FIGURE 15.  PORTER’S FIVE FORCE ANALYSIS

FIGURE 16.  GLOBAL MEAT SUBSTITUTE MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 17.  UNITED STATES MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 18.  CANADA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 19.  UNITED KINGDOM MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 20.  GERMANY MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21.  FRANCE MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22.  SPAIN MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23.  ITALY MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24.  RUSSIA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25.  REST OF EUROPE MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26.  CHINA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27.  JAPAN MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28.  INDIA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29.  SOUTH KOREA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30.  AUSTRALIA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31.  REST OF ASIA PACIFIC MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32.  LATIN AMERICA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33.  MIDDLE EAST & AFRICA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY PRODUCT TYPE
    • TOFU BASED
    • TEMPEH BASED
    • TVP BASED
    • SEITAN BASED
    • QUORN BASED
    • OTHER PRODUCTS
  2. MARKET BY CATEGORY
    • FROZEN
    • REFRIGERATED
    • SHELF STABLE
  3. MARKET BY SOURCE
    • SOY-BASED
    • WHEAT BASED
    • MYCOPROTEIN
    • OTHER SOURCES
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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