Meat Substitute Market Size & Share Report, 2020-2027

Meat Substitute Market Size & Share Report, 2020-2027

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Meat Substitutes Market

The Meat Substitutes Market is anticipated to expand at a remarkable CAGR during the forecast period (2020-2027).

The factors driving the growth of Meat Substitutes Market includes increasing vegan population, rising consumers inclination towards adopting healthy lifestyles, growing consumption of plant-based protein food across the globe. According to the report published by The Guardian, around 40% increase in the vegan population was observed in 2020, totaling the vegan population to 1.5 million, which will boost the Global Meat Substitutes Market in the approaching years. Moreover, the increasing incidences of cardiovascular disease, colorectal cancer, and type 2 diabetes due to consumption of red meat products and rising availability of vegetarian food products in the quick service restaurants and cafes, are some of the additional factors supplementing the Meat Substitutes Market share. In addition, growing awareness about the nutritional benefits of vegetarian food, increasing number of online food delivery platforms and rising popularity of gluten-free products, are further propelling the Meat Substitutes Market size.

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However, the growth of Meat Substitutes Market is hindered attributed to fluctuations in the prices of raw materials.

The major players operating in the Meat Substitutes includes Crespel & Deiters Group, CHS INC., Roquette Frères Südzucker AG, ADM, DuPont, Kerry Inc., SOTEXPRO, Beyond Meat, Inc., and Puris LLC, among others.

Type- Segment Analysis

As per the Meat Substitutes Market Report, the Concentrates segment is estimated to capture the largest market share over the forecast period because they are comparatively cheaper than isolates and are easy to digest.

Source – Segment Analysis

Based on Source, the Soy protein segment is predicted to hold the highest market share during the forecast period. Soy emerges out as the best meat substitute because it is rich in protein, cab absorb flavors from other foods and resemble form, texture and color of various meat products, are some of the factors responsible for the growth of the segment.

Regional – Segment Analysis

Based on Region, the Asia-Pacific region is anticipated to expand at a significant CAGR during the forecast period. The increasing consumption of plant-based protein food products, rising emphasis on animal welfare, high consumption of protein and tofu, rapid urbanization, growing disposable incomes and improvements in the living standards, are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Global Meat Substitutes Market by Type

Global Meat Substitutes Market by Source

Soy protein
Wheat protein
Pea protein
Other sources
Global Meat Substitutes Market by Product

Other Products
Global Meat Substitutes Market by Form

Global Meat Substitutes Market by Region

Asia PacificChina
Rest of APAC
North AmericaUnited States of America
EuropeUnited Kingdom
Rest of Europe
South Africa
Saudi Arabia
About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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