The significant presence of the millennial population across the globe and their rising demand for plant-based meat products along with growing health awareness are factors driving the meat substitutes market.
Dallas, United States - April 23, 2021 /MarketersMedia/ —
The global meat substitutes market showed a growth of 3.49 USD billion in 2018 with a growth rate of 7.9%. The factors that are paving way to the growth of meat substitutes is the increasing millennial population worldwide and also the growing demand for plant-based meat products. Vegetarian foods occupy a greater shelf space than ever before in today's market due to growing consumer health issues and environmental concerns. The rise in consumer demand for healthier diets, the concern about rising meat prices, the increasing prevalence of vegetarianism and the growing interest of consumers in related eating habits, such as avoiding or decreasing the consumption of red meat, have resulted in a continuous increase in demand for the average analog and the use of an alternative source such as plant protein.
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A meat analog is also known as a meat substitute, imitation meat, fake meat or mock meat. These meat substitutes possess approximately equal chemical characteristics and visual qualities as that of different types of meat. Over the years, amid several factors like economic reasons, high demand for safe and religious (halal) food, global shortage of animal protein and rise in the number of animal diseases, the adoption of plant or vegetable based proteins in food products have raised substantially. In addition to that, the creation of new food dishes that customer find appealing is challenging for the vendors in the industry. However, it becomes more challenging when it to replacing highly embraced and regarded like beef. The challenge was accepted to find new advanced solutions such as sustainable meat alternatives in order to reduce the negative environmental effects.
Meat substitute can be described as a compound that is structurally similar to another but slightly different in composition. Here the meat analog is a product that is structurally similar to the meat but varies in its composition. Meat equivalent, also referred to as meat substitute, artificial meat, fake meat or imitation meat, approximates the esthetic qualities (primarily texture, taste and appearance) and/or the chemical characteristics of different types of meat. This can also refer to a meat-based, safer and/or less costly alternative to a specific meat product. Moreover, major industry players are also investing in R&D to develop technologically advanced meat substitutes.
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The global Meat Substitutes Market has recorded a praiseworthy growth in performance over the recent years. The growth of the industry is attributed by number of growth factors. As compared to grain-based diet, a meat-based diet needs significantly more amount of environmental resources per calorie. This is one of the crucial factors contributing major share in the Meat Substitutes industry growth. In addition to that, due to the high protein contents in these products the importance of legumes and oilseed proteins in the food products is growing rapidly. However, the biggest obstacle to use such oilseeds and legumes is the presence of anti-nutrients in them which in turn is anticipated to restrain the growth of the industry. These anti-nutrients can be eliminated effectively or can be inactivated with the help of certain methods.
The emerging trend of vegan diets across the globe especially among young generation is considered being a major growth driver responsible for the upsurge in the market growth rate. In addition to that, the availability of numerous meat analogs that contain high protein ingredients like cottonseed proteins, wheat gluten, soybean proteins and many other plant proteins have caused a major boost in the demand for meat substitutes worldwide. Furthermore, the meat analogs or substitutes are health-promoting, good texture, low-fat and high-protein food product. These qualities possessed by these products are causing rise in the demand for meat substitutes across the globe. However, the variety of mycoprotein-based products and texturized vegetable proteins can be potential replacement for meat substitutes and are anticipated to impede the growth of the Global Meat Substitutes Market.
Both domestic and regional companies are offering a range of meat alternatives around the world. Big suppliers are present in the North American and European countries. Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry (Ireland), Ingredion (US), Sotexpro S.A (France), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), Emsland Group (Germany) and Cargill (US).
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Key Segments of the Global Meat Substitutes Market
Source Overview, 2015-2025 (USD Million) (K MT)
Soy protein
Wheat protein
Pea protein
Type Overview, 2015-2025 (USD Million) (K MT)
Concentrates
Isolates
Textured
Product Type Overview, 2015-2025 (USD Million) (K MT)
Tofu
Tempeh
Seitan
Quorn
Form Type Overview, 2015-2025 (USD Million) (K MT)
Solid
Liquid
Regional Overview, 2015-2025 (USD Million) (K MT)
North America
U.S.
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
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