Meat Substitutes Market

Meat Substitutes Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2026)

Various diseases associated with meat have impacted the preferences of population towards consuming meat products. On the contrary, the demand for meat substitutes is increasing at a steady pace since past few years. Meat substitutes offer various health benefits and fill the diet gaps by providing essential elements that nourish human body.

Intake of meat substitutes is largely observed among athletes and young generation as these products contain high amount of protein and calcium. Moreover, according to research, a large percentage of population across the globe is preferring vegan food that has spurred the demand for meat substitutes. To cater to this increasing demand, manufacturers are focusing on investing in research and development to expand their product portfolio by launching different types of meat substitutes with the possible permutations and combinations.

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According to the report of Future Market Insights, the global meat substitutes market is projected to expand at a CAGR of 5.8% during the period of forecast, 2017-2026.

Key market players are focusing on entering new markets by means of collaborations and partnerships with a view to reinforce their product lines. Few of the key players profiled in this research study include Beyond Meat, Amys Kitchen Inc.,Cauldron Foods,Meatless B.V., Garden Protein International, Inc.,and Quorn Foods.

Textured Vegetable Proteins to Witness High Demand in the Coming Years

Textured vegetable proteins (TVP) gained popularity since past years owing to the nutritious value they provide. They are a rich protein source with less fat content, which in turn has triggered their consumption in many low fat vegetarian dishes. Demand for TVP is expected to grow at a noteworthy pace in the upcoming years. Its demand is also influenced by a large percentage of population that prefers low carbohydrate meal in their daily diet. Awareness regarding healthy food consumption is expected to support demand for textured vegetable proteins across regions. In terms of revenues, the textured vegetable proteins segment is expected to lead the global market for meat substitutes during the analysis period. Tofu is another preferred substitute for meat, especially in the Asian countries.

Frozen Meat Substitutes Gaining High Steam

The concept of frozen food is growing healthily, with awareness regarding various advantages of frozen food triggering their consumption on a large scale. In addition, nutritional value provided by frozen food is relatively higher than fresh food, as freezing of food items prevents the loss of essential proteins and vitamins during their transport or storage. Frozen meat substitutes, a popular category of frozen food, are cost effective and convenient. Frozen meat substitutes are expected to witness a sale of over US$ 3 Bn by the end of the period of assessment with a high demand in the coming years.

Sale of Meat Substitutes to Increase with Increasing Food Chain Services and Online Stores

Manufacturers of meat substitutes are continuously striving to enhance their presence across the globe. Food chain services have a proven record of higher sales of meat substitutes across various countries and are a highly lucrative distribution channel. Manufacturers can consider food chain services as their best bet with a view to increase sales of their products and also enhance their distribution network. In addition, with the emergence of E-commerce, online stores are gaining high traction with respect to any food produce. Online store is another potential selling platform for meat substitutes and is projected to gain high steam in the years to follow.

Soy Proteins to be the Most Preferred Meat Substitute Source

Meat substitutes are high in proteins, typically soy proteins. Products such as tofu, textured vegetable proteins and tempeh are rich in soya content. Soy proteins is a highly preferred protein source owing to advantages such as fat loss, carb regulation and healthy diet. The soy segment is poised to generate sales of over US$ 4 Bn by 2026 end owing to increased consumption by athletes. Also, the global market for meat substitutes is also influenced by the increasing demand for mycoproteins are they are fee of cholesterol and help in maintaining normal cholesterol levels. They are a rich lean protein source and highly preferred among the younger generation.

Higher Sale of Meat Substitutes to be Observed in European Countries in the Coming Period

Europe has been a benchmark of protein consuming population as compared to other regions in the globe. Majority of the population in Europe has been consuming high protein diet since past several years. The meat substitute consumption in this region is increasing and is expected to touch a higher sales figure of around US$ 2800 Mn by the end of the assessment period.

Many animal-related disease outbreaks that include swine flu and bird flu over the recent past have led consumers across the globe to shift toward a more vegan diet, influencing meat substitute consumption as a result. Trend toward vegan diet is also being supported by surging prevalence of health problems such as diabetes and obesity. Rise in living standards of consumers coupled with their higher GHDI is further posing a positive impact on demand for not-so-cost-effective meat substitutes. R&D initiatives are being undertaken by global leading food product manufacturers, in a bid to develop novel and superior quality meat substitutes to increasing number of health-conscious consumers globally.

A new report of Future Market Insights offers forecast and analysis on the meat substitutes market on a global level. The report delivers actual data related to the market for the historical period (2012-2016) along with an estimated intelligence on the market for the forecast period (2017-2026). The information is presented in terms of both value (US$ Mn). Macroeconomic indicators coupled with an outlook on the meat substitutes demand pattern around the world have also been encompassed by the report. The report further imparts key drivers and restraints for the global meat substitutes market, and their impact on regional segments included over the forecast period.

Report Structure

The executive summary chapter, which initiates the report, offers key market dynamics and numbers associated with the global meat substitutes market, along with key research findings related to the market segments comprised. The market numbers included in this chapter are a blend of compound annual growth rates, market shares, revenues, and volume sales.

A concise introduction to the meat substitutes market is offered in the chapter succeeding the executive summary, along with a formal definition of “meat substitutes”. Elaboration of the market dynamics that include future prospects, growth limitations & drivers, and trends has been delivered in the chapters subsequent to the overview. These chapters also inundate insights apropos to bottom line of enterprises in detail, along with the fiscal stimulus and the global economy.

Market Taxonomy

Region

Product Type

Category

Source

Distribution Channel

  • North America

  • Tofu

  • Frozen

  • Soy

  • Food Chain Services

  • Latin America

  • Tempeh

  • Refrigerated

  • Wheat

  • Modern Trade

  • Europe

  • Textured Vegetable Protein

  • Shelf-stable

  • Mycoprotein

  • Departmental Stores

  • Japan

  • Seitan

 

  • Other Sources

  • Online Stores

  • APEJ

  • Quorn

 

 

  • Other Distribution Channel

  • MEA

  • Other Product Types

 

 

 

Competition Landscape

A complete package of intelligence on leading participants supporting expansion of the global meat substitutes market has been offered in the concluding chapter of this analytical research report. This chapter elucidates the competition landscape of the global market for meat substitutes, providing information on key strategy implementations of the market players, their product overview, key development, company overview, and key financials. A SWOT analysis on each market players has been provided in this chapter of the report.

The geographical spread of the market players included, along with their future growth plans, intended mergers & acquisitions, overall revenues, and market shares are elaborated in detail in this chapter. The report has employed an intensity map for portraying key market players located across geographies.

Research Methodology

Credibility of researched statistics & data is backed by a unique research methodology used by analysts at FMI, ensuring high accuracy. This research report on global meat substitutes market can assist readers in acquiring detailed insights on several aspects that govern the market across the regional segments contained in the report. The report readers can use slated strategies to tap the vital revenue pockets, thereby gaining benefits over intensifying competition prevailing in the market. Intelligence presented in this report has been scrutinized & monitored thoroughly by FMI’s industry experts. The figures and numbers offered by the report are validated by the analysts for facilitating strategic decision making for market players.