Meat Substitute Market, By Type (Tofu Based, Tempeh Based, Textured Vegetable, Protein Based, Quorn Based, Seitan Based, and Others), By Source (Soy, Wheat, Mycoprotein, Others (Milk, Rice, and Pulses)), By Category (Frozen, Refrigerated, and Shelf-Stable), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

Report Code: PMI49619 | Publish Date: May 2023 | No. of Pages: 168

Global Meat Substitute Market By Overview

 

Meat substitute is also called a meat analogue, meat alternative or approximates certain aesthetic qualities. In common words meat substitute means a food made from vegetarian ingredients, and sometimes without animal products such as dairy. Most of the meat substitutes are a combination of ingredients such as soy, wheat, milk, others are consumed widely by individuals; looking for an analogue for meat and meat products. Most popular types of meat substitutes consumed by individuals include tempeh and tofu. Tofu is increasingly consumed as an alternative for chicken, pork, and beef products. The healthiest meat substitute will be vegetarian foods that are natural, high in protein, and minimally processed. Healthy meat substitutes include beans, tempeh, lentils, jackfruit, mushrooms, nuts and seeds. Other alternatives use modified defatted peanut flour, yuba and textured vegetable protein. Meat substitutes products are currently made by two basic processes, through either thermoplastic extrusion or fiber spinning. The global meat substitute market accounted for US$ 1.82 billion in 2020 and is estimated to be US$ 5.52 billion by 2030 and is anticipated to register a CAGR of 11.9%.

Global Meat Substitute Market By Dynamics

Rising preference of vegan diets

Growing health concerns and increasing preferences for vegetarian diets among individuals are major factors propelling growth of the global meat substitutes market. In addition, increasing incidences of obesity due to processed meat consumption and several disease outbreaks in animals are some factors expected to boost growth of the global meat substitute market in the near future. Furthermore, increasing disposable income of individuals to fulfill their dietary supply as alternative for meat is also another factor anticipated to augment growth of the global meat substitute market over the next ten years. Moreover, Meat substitutes are cholesterol free, healthy, low cost, and have meat-like taste, texture, and color along with long shelf life. These advantages offered by mean substitutes are fueling growth of the global meat substitutes market.

However, high costs associated with meat substitutes as compared to meat products is major factor hampering growth of the global meat substitutes market.

Global Meat Substitute Market By Segmentation

 

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

The global meat substitute market is segmented based on type, source, category, and region.

On the basis of type, the global meat substitute market is segmented into tofu based, tempeh based, textured vegetable protein based, Quorn based, seitan based, and others. On the basis of source, the global market is segmented into soy, wheat, mycoprotein, and others. Other source sub-segmented into milk, rice, pulses, etc. On the basis of category, the global market is segmented into frozen, refrigerated, and shelf-stable.

 

Regional Insights:

The global meat substitute market accounted for US$ 1.82 billion in 2020 and is estimated to be US$ 5.52 billion by 2030 and is anticipated to register a CAGR of 11.9%. On region the global meat substitute market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe had registered major revenue share in the global meat substitute market, followed by markets in another region. Increasing health awareness among individuals and high prevalence of obesity due to meat are some major factors expected to support growth of the Europe market over the forecast period. North America meat substitute market accounted for second-highest market share in the global market followed by Asia Pacific.

Report Scope:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Billion & CAGR from 2020 – 2030

Market Segmentation

By Type- Tofu Based, Tempeh Based, Textured Vegetables, Protein Based, Quorn Based, Seitan Based, and Others

By Source– Soy, Wheat, Mycoprotein, Others (Milk, Rice, and Pulses)

By Category– Frozen, Refrigerated, and Shelf-Stable

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global meat substitute market report based on type, source, category and region.

Global Meat Substitute Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Meat Substitute Market By Key Players

The key players operating in the global meat substitute market includes Amy’s Kitchen Inc., Beyond Meat, Inc., Cauldron Foods Ltd., Garden Protein International, Inc., Meatless B.V., Quorn Foods, Inc., Vbites Food, Ltd., Morningstar Farms L.C., MGP Ingredients Inc., and Sonic Biochem Extractions Limited.

Amy’s Kitchen Inc:

They have introduced Thai Vegetables and Rice Bowl is a delicious dish straight from a part of the world that’s near and dear to our hearts. Also, along with it they have launched 6 meat substitute foods.

Global Meat Substitute Market By Company Profile

  • Amys Kitchen Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Beyond Meat, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Cauldron Foods Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Garden Protein International, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Meatless B.V.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Quorn Foods, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Vbites Food, Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Morningstar Farms L.C.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • MGP Ingredients Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies
  • Sonic Biochem Extractions Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
    • Business Strategies

Global Meat Substitute Market By Table of Contents

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Source
      • Market Snippet, By Category
      • Market Snippet, By Region
    • Opportunity Map Analysis
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Market Trends
    • Product Launch
    • Merger and Acquisitions
    • Impact Analysis
    • PEST Analysis
    • Porter’s Analysis
  4. Global Meat Substitute Market, By Type, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Tofu Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Tempeh Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Textured Vegetable Protein Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Quorn Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  5. Global Meat Substitute Market, Source, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Soy
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Wheat
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Mycoprotein
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Others (Milk, Rice, Pulses, etc.)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  6. Global Meat Substitute Market, Category, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Frozen
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Refrigerated
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Shelf-Stable
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  7. Global Meat Substitute Market, By Region, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • China
        • India
        • Australia
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Category, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • South Africa
        • Central Africa
        • North Africa
  1. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • Amys Kitchen Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Beyond Meat, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Cauldron Foods Ltd.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Garden Protein International, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Meatless B.V.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Quorn Foods, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Vbites Food, Ltd.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Morningstar Farms L.C.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • MGP Ingredients Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
      • Sonic Biochem Extractions Limited
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
    • Analyst Views
  2. Section
    • Research Methodology
    • About Us
    • Contact

FAQs

The Global Meat Substitute market is segmented into basis of type, source, category, application, and region.

Increasing health concerns and growing preference for vegetarian diets among individuals across the globe are major factor for growth of the global meat substitute market.

By region, Europe meat substitute market accounted for major revenue share of the global meat substitute market and is further anticipated to maintain its dominance over the forecast period.

The Key players operating in the global Meat Substitute market include Amys Kitchen Inc., Beyond Meat, Inc., Cauldron Foods Ltd., Garden Protein International, Inc., Meatless B.V., Quorn Foods, Inc., Vbites Food, Ltd., Morningstar Farms L.C., MGP Ingredients Inc., and Sonic Biochem Extractions Limited.