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It was estimated that by 2022 the global market for meat alternatives would be worth $5.19 billion. During the projection period (2022-2030), the market for meat alternatives is expected to expand from its current valuation of $5.59 billion to $8.89 billion by 2030, representing a CAGR of 8.00%. The primary market drivers boosting market expansion are the increasing incidences of cervical injuries in automobile accidents and the rising prevalence of cervical spondylosis among corporate workers.
The majority of people in Europe and North America rely on meat products to meet their daily protein needs, thus the worldwide market for meat-based proteins has seen a boom in demand in the recent decade. While the amino acids found in meat proteins are essential, the cholesterol found in such foods has been related to a variety of serious health issues. Because of this, there was a dramatic rise in the popularity of plant-based protein diets in developed nations including the United States, Germany, France, and the United Kingdom. The number of vegans has grown dramatically in recent years in countries all around the world. For instance, the number of vegans in the United States has surged by 600% in the last three years, as reported by an article published in 2018 by the Food Revolution Organization. The market for meat alternatives is likely to benefit from the rising popularity of plant-based proteins.
The history of knowledge of food allergies and intolerances dates back hundreds of years. However, in recent years the incidence of food allergies has increased, raising great anxiety among both consumers and producers of food products. Soy and wheat are two of the top eight primary food allergens, says the Food Allergy Research & Education Organization (US), which means they account for the vast majority of severe food allergy reactions in the country. Soybeans, for instance, are a good source of protein, isoflavones, and other vitamins and minerals, but they also include anti-nutritional components that can lead to issues like soy allergy. Itching and hives are symptoms of a soy allergy. Some of the additional symptoms include gas, bloating, and mild irritation of the intestinal tissue.
More and more people are becoming aware of the health benefits of plant-based meat alternatives and looking for them to incorporate into their diets. Noncommunicable diseases, digestive issues, and obesity are only some of the conditions that could be avoided because to these advantages. Due to rising rates of obesity and related illnesses, such as heart disease and diabetes, modern consumers place a premium on making healthy choices. So, people are actively changing their diets and adopting healthier eating habits, which is expected to increase the market for meat substitutes.
The global demand for plant-based products is mostly driven by rising consumer awareness of the benefits of a vegan diet. Another important aspect contributing to their global expansion is the fact that they contain no cholesterol-forming proteins. The huge expansion of the market for meat substitutes can be attributed to a number of factors, including rising consumer awareness and the increasing sophistication of meat alternative products. The health, climate, and animal welfare concerns of Gen Z and Millennials are the primary drivers of demand in this sector.
The demand for transparency in the ingredients of the food people eat is also growing. Simple ingredients sourced from minimally processed food are preferred by producers as they cater to the growing demand from health-conscious consumers worldwide for products with transparent ingredient lists. In addition to plant-based proteins, plant-based meat substitutes also feature components including fibers, starches, gums, and other stabilizers. They serve multiple purposes and exist in the wild. Consequently, rising consumer preference for natural and unprocessed goods is fueling the expansion of the meat alternative industry.
Growing consumer understanding of veganism's benefits is a key factor driving the market for plant-based products. The health benefits connected with cholesterol-free protein are also a major factor propelling the growth of these products in many regions. The market for meat alternatives has grown dramatically as consumers become more health conscious and producers develop products with more desirable characteristics, such as improved taste, texture, and mouthfeel. Millennials and Generation Z are driving demand in this industry because they care deeply about problems of social justice, animal rights, and the environment. There are several manufacturers partnering with well-known labels to offer this market.
Report Coverage
Global Meat Substitutes research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Meat Substitutes report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Meat Substitutes competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Meat Substitutes market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Meat Substitutes market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Meat Substitutes market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Beyond Meat, AMY's Kitchen Inc., Garden Protein International Inc., Quorn Foods Inc, MorningStar Farms L.C., Schouten Europe B.V., Sunfed Ltd, VBites Foods Ltd., Blue Chip Group, among others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Meat Substitutes market based on the below-mentioned segments:
Global Meat Substitutes Market, By Product Type
Tofu-based
Tempeh-based
TVP-based
Seitan-based
Quorn-based
Others
Global Meat Substitutes market, By Source
Soy-based
Wheat-based
Mycoprotein
Others
Global Meat Substitutes Market, By Category
Frozen
Refrigerated
Shelf Stable
Global Meat Substitutes market, Regional Analysis
The majority of people in Europe and North America rely on meat products to meet their daily protein needs, thus the worldwide market for meat-based proteins has seen a boom in demand in the recent decade. While the amino acids found in meat proteins are essential, the cholesterol found in such foods has been related to a variety of serious health issues. Because of this, there was a dramatic rise in the popularity of plant-based protein diets in developed nations including the United States, Germany, France, and the United Kingdom. The number of vegans has grown dramatically in recent years in countries all around the world. For instance, the number of vegans in the United States has surged by 600% in the last three years, as reported by an article published in 2018 by the Food Revolution Organization. The market for meat alternatives is likely to benefit from the rising popularity of plant-based proteins.
The history of knowledge of food allergies and intolerances dates back hundreds of years. However, in recent years the incidence of food allergies has increased, raising great anxiety among both consumers and producers of food products. Soy and wheat are two of the top eight primary food allergens, says the Food Allergy Research & Education Organization (US), which means they account for the vast majority of severe food allergy reactions in the country. Soybeans, for instance, are a good source of protein, isoflavones, and other vitamins and minerals, but they also include anti-nutritional components that can lead to issues like soy allergy. Itching and hives are symptoms of a soy allergy. Some of the additional symptoms include gas, bloating, and mild irritation of the intestinal tissue.
More and more people are becoming aware of the health benefits of plant-based meat alternatives and looking for them to incorporate into their diets. Noncommunicable diseases, digestive issues, and obesity are only some of the conditions that could be avoided because to these advantages. Due to rising rates of obesity and related illnesses, such as heart disease and diabetes, modern consumers place a premium on making healthy choices. So, people are actively changing their diets and adopting healthier eating habits, which is expected to increase the market for meat substitutes.
The global demand for plant-based products is mostly driven by rising consumer awareness of the benefits of a vegan diet. Another important aspect contributing to their global expansion is the fact that they contain no cholesterol-forming proteins. The huge expansion of the market for meat substitutes can be attributed to a number of factors, including rising consumer awareness and the increasing sophistication of meat alternative products. The health, climate, and animal welfare concerns of Gen Z and Millennials are the primary drivers of demand in this sector.
The demand for transparency in the ingredients of the food people eat is also growing. Simple ingredients sourced from minimally processed food are preferred by producers as they cater to the growing demand from health-conscious consumers worldwide for products with transparent ingredient lists. In addition to plant-based proteins, plant-based meat substitutes also feature components including fibers, starches, gums, and other stabilizers. They serve multiple purposes and exist in the wild. Consequently, rising consumer preference for natural and unprocessed goods is fueling the expansion of the meat alternative industry.
Growing consumer understanding of veganism's benefits is a key factor driving the market for plant-based products. The health benefits connected with cholesterol-free protein are also a major factor propelling the growth of these products in many regions. The market for meat alternatives has grown dramatically as consumers become more health conscious and producers develop products with more desirable characteristics, such as improved taste, texture, and mouthfeel. Millennials and Generation Z are driving demand in this industry because they care deeply about problems of social justice, animal rights, and the environment. There are several manufacturers partnering with well-known labels to offer this market.
Report Coverage
Global Meat Substitutes research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Meat Substitutes report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Meat Substitutes competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Meat Substitutes market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Beyond Meat, AMY's Kitchen Inc., Garden Protein International Inc., Quorn Foods Inc, MorningStar Farms L.C., Schouten Europe B.V., Sunfed Ltd, VBites Foods Ltd., Blue Chip Group, among others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Meat Substitutes Market from 2021 to 2030.
- Market Forecast for Meat Substitutes Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Meat Substitutes competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Meat Substitutes
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Meat Substitutes market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Meat Substitutes market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Beyond Meat, AMY's Kitchen Inc., Garden Protein International Inc., Quorn Foods Inc, MorningStar Farms L.C., Schouten Europe B.V., Sunfed Ltd, VBites Foods Ltd., Blue Chip Group, among others
Primary Target Market
- Market Players of Meat Substitutes
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Meat Substitutes market based on the below-mentioned segments:
Global Meat Substitutes Market, By Product Type
Tofu-based
Tempeh-based
TVP-based
Seitan-based
Quorn-based
Others
Global Meat Substitutes market, By Source
Soy-based
Wheat-based
Mycoprotein
Others
Global Meat Substitutes Market, By Category
Frozen
Refrigerated
Shelf Stable
Global Meat Substitutes market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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