According to the latest report by IMARC Group, titled “Meat Substitutes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on meat substitutes market research report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global meat substitutes market size reached US$ 6.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.
Meat Substitutes Market Overview:
Meat substitutes, also known as meat analogs or plant-based meats, are products designed to mimic the taste, texture, and appearance of conventional meat while being entirely derived from plant sources or other non-meat ingredients. These products offer a viable alternative to traditional meat consumption, catering to the growing demand for plant-based diets and ethical concerns surrounding animal welfare and environmental sustainability. Characteristics of meat substitutes include their ability to replicate the sensory experience of meat through the use of ingredients such as soy, wheat gluten, peas, or mushrooms, combined with flavorings and seasonings to enhance taste. The working mechanism involves processing raw plant materials into formulations that closely resemble the composition and structure of meat, utilizing techniques such as extrusion, fermentation, and flavor encapsulation. Properties of meat substitutes include their versatility in culinary applications, allowing for the creation of various dishes ranging from burgers and sausages to meatballs and nuggets. Advantages of meat substitutes include their potential health benefits, such as lower saturated fat and cholesterol content compared to conventional meat, as well as their contribution to reducing greenhouse gas emissions and mitigating environmental impact associated with livestock farming.
Get Sample Copy of Report at – https://www.imarcgroup.com/meat-substitutes-market/requestsample
Meat Substitutes Market Trends:
The global market is primarily driven by the increasing consumer awareness of the health and environmental benefits associated with plant-based diets. In line with this, the rising availability of diverse and affordable meat substitute options is also stimulating market growth. Moreover, the considerable rise in educational campaigns promoting sustainable eating habits is acting as a significant growth-inducing factor for the market. In addition to this, the expanding number of health-conscious consumers leading to greater demand for premium, high-quality meat substitute products is driving market expansion. Furthermore, the growing trend towards flexitarianism, wherein consumers incorporate more plant-based foods into their diets while still occasionally consuming meat, is fueling the demand for meat substitutes. Also, the increasing influence of social media influencers and celebrity endorsements promoting plant-based lifestyles is impacting the market positively. The market is further propelled by government initiatives to promote sustainable agriculture and reduce meat consumption for environmental sustainability. Additionally, the ease of access to meat substitute products through online platforms and retail outlets is contributing to market growth. Some of the other factors driving the market include the rapid urbanization, changing consumer preferences towards healthier and ethical eating, and ongoing research and development efforts to innovate new meat substitute formulations.
Competitive Landscape With Key Players:
- The Nisshin Oillio Group
- Dupont
- Archer Daniels Midland
- Amy’s Kitchen
- Conagra Brands
- Quorn Foods
- Cauldron Foods
- Campbell Soup Company
- VBites
- Blue Chip Group
- Field Roast
- Garden Protein International
- LightLife
- Sweet Earth Foods
- MGP Ingredients
- Tofurky
- Meatless
- Sonic Biochem Limited
Meat Substitutes Market Segmentation:
Breakup by Type:
- Tofu & Tofu Ingredients
- Tempeh
- Textured Vegetable Protein (TVP)
- Seitan
- Quorn
- Others
Breakup by Source:
- Soy
- Wheat
- Mycoprotein
- Others
Breakup by Category:
- Frozen
- Refrigerated
- Shelf-Stable
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Health and Food Stores
- Convenience Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
