DUBLIN, Feb. 14, 2023 /PRNewswire/ — The “Global Meat Substitutes Market Size, Trends & Growth Opportunity, By Product, By Source, and By Region and Forecast to 2027.” report has been added to ResearchAndMarkets.com’s offering.
The Global Meat Substitutes Market is expected to grow from US$ 12.37 Billion in 2021 to US$ 21.08 Billion by 2027; it is estimated to grow at a CAGR of 7.01 % from 2021 to 2027.
Company Profiles
- Amy’s Kitchen
- BeyondMeat
- Cauldron Foods
- Garden Protein International, Inc.
- Meatless B.V.
- Kellogg Company
- Archer-Daniels-Midland Company
Drivers:
Consumer health concerns have increased due to the growing threat of animal-borne diseases, which has led to a decline in the consumption of animal products.
The market for plant-based meat alternatives is rising quickly as consumers become more aware of their health benefits, which include the reduction of obesity, gastrointestinal problems, and non-communicable diseases.
Due to a surge in obesity cases and other ailments like diabetes and heart disease, consumers are now more concerned about their health. Customers are consequently altering their eating habits and embracing a healthier diet, which is anticipated to increase the demand for meat alternatives.
Restraints:
For hundreds of years, food intolerances and allergies have been recorded. But in recent years, the prevalence of food allergies has increased, alarming both consumers and food producers. Soy and wheat are two of the top eight primary food allergens that are to blame for the majority of serious food allergy reactions in the US, according to the Food Allergy Research & Education Organization (US).
For instance, soybeans are rich in vitamins, minerals, isoflavones, and proteins, but they also include antinutritional elements that can lead to health issues like soy allergies. Itching and hives are common in people with soy allergies. Among the other signs include gas, bloating, and mild intestinal tissue irritation.
Opportunities:
Processing and extrusion are crucial in the market for meat alternatives. Proteins from peas, soy, and wheat are extracted during processing. Traditional dry extraction processes result in protein concentrate with 46% to 60% protein and protein flour with just 20% to 40% protein.
But with the help of new extrudable fat technology, it is possible to produce plant-based meats with more realistic fat textures, such marbling, according to Coasun. The method enables the physical linking of fat and protein to produce a superior ingredient by putting fat through an extruder and then mixing it with protein.
Impact of COVID-19
Due to rising consumer spending on nutritious food items and a rise in health consciousness, the demand for meat substitutes has significantly increased during the COVID-19 outbreak.
Additionally, due to a lack of meat goods in retail outlets and a restriction on the number of meat-based items that may be purchased per customer, producers of meat alternatives noticed an increase in demand for plant-based products. Since a result, COVID-19 has benefited the meat replacement market as companies’ production and sales have increased in 2020.
Industrial Development
- KFC introduced Beyond Fried Chicken, a line of plant-based meats, in various locations across the world in January 2022.
- The launch of two new shelf-stable, plant-based meal options, Ultimate vegetarian chilli and Hawaiian bowl under the Loma Linda brand, has been announced by Atlantic Natural Foods for May 2020. To meet the rising demand, the corporation has also increased production in Thailand and the United States.
- Ingredion Incorporated and its joint venture partners agreed to buy 100% of Verdient Foods (Canada), a producer of plant-based protein, in November 2020. With this acquisition, Ingredion Incorporated should be able to meet the growing demand from consumers for plant-based foods.
Key Questions Addressed by the Report
- What are the Key Opportunities in Meat Substitutes Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Meat Substitutes Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Meat Substitutes Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Meat Substitutes Market Share Analysis, By Product
5.3 Global Meat Substitutes Market Size and Forecast, By Product
5.3.1 Tofu
5.3.2 Tempeh
5.3.3 Seitan
5.3.4 Quorn
5.3.5 Other types
6 Global Meat Substitutes Market, By Source
6.1 Y-o-Y Growth Comparison, By Source
6.2 Global Meat Substitutes Market Share Analysis, By Source
6.3 Global Meat Substitutes Market Size and Forecast, By Source
6.3.1 Soy protein
6.3.2 Wheat protein
6.3.3 Pea protein
6.3.4 Other sources
7 Global Meat Substitutes Market, By Region
7.1 Global Meat Substitutes Market Share Analysis, By Region
7.2 Global Meat Substitutes Market Share Analysis, By Region
7.3 Global Meat Substitutes Market Size and Forecast, By Region
8 North America Meat Substitutes Market Analysis and Forecast (2022-2027)
9 Europe Meat Substitutes Market Analysis and Forecast (2022-2027)
10 Asia Pacific Meat Substitutes Market Analysis and Forecast (2022-2027)
11 Latin America Meat Substitutes Market Analysis and Forecast (2022-2027)
12 Middle East Meat Substitutes Market Analysis and Forecast (2022-2027)
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6svawf-meat?w=5
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