February 13, 2020
— Global Meat Substitutes Market was valued at US$ 1.6 Bn in 2019 and is expected to reach US$ 4.02 Bn by 2027, at a CAGR of 12.2 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Meat Substitutes Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Meat Substitutes Market.
Based on the type, the tofu & tofu ingredients segment is expected to hold the largest share in the meat substitutes market during the forecast period owing to it has rich proteins and minerals. Textured vegetable protein segment is anticipated to generate the highest CAGR in the global meat substitutes market during the forecast period. On the basis of category, the frozen segment is estimated to hold the largest share in the meat substitutes market during the forecast period due to increased demand for convenience foods products among consumers across the globe. In terms of source type, the soy segment is projected to hold the largest share in the meat substitutes market in the forecast period owing to they are cost-efficient. In addition, it has features such as reliability and a rich source of proteins, which are propelling the meat substitutes market growth. The mycoprotein is also estimated to surge the global meat substitutes market growth in a positive way.
Growing consumption of soy-based food products such as soy turkey, soy burgers soy bacon, soy chicken, which is influencing the meat substitutes market growth in a positive way. Increasing demand for the veg sources of the rich proteins from consumers across the globe is expected to fuel the meat substitutes market growth during the forecast period. The rising popularity of meat substitutes among vegetarians is projected to surge the global meat substitutes market growth in the near future. In addition, growth in concerns regarding health and increased awareness regarding the benefits of meat substitutes among consumers around globally, which is driving the global meat substitutes market growth in a positive way.
In terms of region, Europe is expected to hold the largest share in the meat substitutes market during the forecast period owing to the presence of key manufacturers in this region. Growing innovation in the product such as low-fat and fortified snack with meat substitutes, which is propelling the global meat substitutes market growth in a positive way. North America is estimated to generate the highest CAGR in the market during the forecast period owing to the rising demand for the convinced food products in this region. The Asia Pacific is projected to drive the global meat substitutes market during the forecast period. Changing eating habits coupled with an increased disposable income of consumers in this region, which is expected to propel the global meat substitutes market growth in a positive way.
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Scope of the Report Meat Substitutes Market
Global Meat Substitutes Market, by Product Type
• Tofu & Tofu Ingredients
• Textured Vegetable Protein (TVP)
Global Meat Substitutes Market, by Source Type
Global Meat Substitutes Market, by Category
Global Meat Substitutes Market, by Distribution Channel
Global Meat Substitutes Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Meat Substitutes Market
• Sweet Earth, Inc.
• VBites Food ltd.
• The Kraft Heinz Company
• Turtle Island Foods, Inc.
• Nutrisoy Pty Ltd
• Pinnacle Foods, Inc.
• Amy's Kitchen Inc.
• Atlantic Natural Foods, LLC
• Impossible Foods Inc.
• The Hain Celestial Group, Inc.
• Beyond Meat Inc.
• Pacific Foods of Oregon, Inc.
• Monde Nissin Corporation
• Kellogg Company
• Fry Group Foods (Pty) Ltd.
• Nasoya Foods, Inc.
• Hügli Holding AG
• Schouten Europe B.V.
• Lightlife Foods Inc.
• Taifun-Tofu GmbH.
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