Global Meat Substitute Market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. The factors that propel the growth of the Meat Substitute Market include public consciousness concerning the surge in fatness levels, as a result of high meat consumption. On the other hand, there are factors that may hamper the growth of the market including environmental and social concerns related to high consumption of meat, such as carbon footprint and religious restrictions of the meat industry, and option for substitute products.
Meat Substitute Market may be explored by type, source, application, and geography. Meat Substitute Market may be explored by type as Tempeh, Seitan, Tofu & Tofu Ingredients, Textured Vegetable Protein (TVP), and Quorn. The “Tofu and Tofu Ingredients” segment led the Meat Substitute Market in 2017 and is anticipated to maintain its dominance by 2022 owing to high protein content and availability.
The Meat Substitute Market could be explored based on source as Wheat, Soy, and Mycoprotein. The “Soy-Based Meat Substitutes” segment led the Meat Substitute Market in 2017 and is anticipated to maintain its dominance by 2022 due to Consumers’ inclination toward soy-based meat products as soy products have high protein content. Hence, the demand for soy has increased in the meat substitute industry.
Meat Substitute Market may be analyzed by category as Refrigerated, Shelf-Stable, and Frozen. The “Frozen meat” segment led the Meat Substitute Market in 2017 and is anticipated to maintain its dominance by 2022 owing to fluctuations in buying patterns, with customers moving from small grocery shops to supermarkets and hyper, particularly in developing counties such as China, India, and Brazil.
Meat Substitute Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. Europe accounted for the major share of the Meat Substitute Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising occurrences of conditions and diseases such as high-blood pressure, constipation, and diabetes.
The key players contributing in the robust growth of the Meat Substitute Market comprise Beyond Meat; Amy’s Kitchen, Inc.; MGP Ingredients, Inc., Vbites Foods Ltd.; MorningStar Farms; Blue Chip Group; and Cauldron Foods. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Meat Substitute Report by Material, Application, and Geography – Global Forecast to 2022 is a professional and in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China).
The report firstly introduced the Meat Substitute basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.
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