Meat Substitutes Market Analysis Report, Share, Trends and Overview 2022-2029
The global meat substitute market size was valued at USD 5.41 billion in 2021. The market is anticipated to surge from USD 5.88 billion in 2022 to USD 12.30 billion by 2029 at an 11.11% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Meat Substitute Market, 2022-2029.”
According to the study, plant-based products have become sought-after in minimizing the issues of dependence on livestock production for meat products. Clean meat substitute will gain further traction with the rising trend of vegan and vegetarian diets. Environment-friendly food products will continue to be sought globally. The Economist asserted that the number of vegans in the U.S. rose from 0.4% to 3.5% in 2021.
Major Players Profiled in the Report:
Beyond Meat (U.S.)
Impossible Foods (U.S.)
Kellogg Company (U.S.)
Tyson Foods (U.S.)
JBS SA (Brazil)
Conagra Brands, Inc. (U.S.)
Hain Celestial Group (U.S.)
Unilever Group (U.K.)
Nestle S.A. (Switzerland)
Sunfed (New Zealand)
Browse a Compleate Copy of This Research Report:
https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239
Segments
Soy-based Ingredients to Remain Dominant with Growing Demand from Vegan Population
With respect to source, the market is segregated into wheat-based ingredients, soy-based ingredients, other grain-based ingredients, and textured vegetable proteins. The soy-based ingredients segment could remain dominant due to growing traction among the vegan and vegetarian population. Moreover, the soaring popularity of tofu and tempeh across North America and Europe will boost ingredient adoption.
Mass Merchandiser to Grow with Easy Product Availability
With respect to distribution channel, the market is segmented into other retail channels, mass merchandisers, online retail, specialty stores, and food service. The mass merchandisers segment will exhibit notable growth due to easy availability and prevalence of discounts.
Report Coverage
The report provides a holistic view of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Moreover, qualitative and quantitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals. The research report also delves into pre and post-COVID-19 analysis to provide a comprehensive perspective of the market.
Drivers and Restraints
Advanced Form of Packaging Design to Reinforce Growth Potentials
Developed and developing countries have exhibited an increased inclination for clean products with carbon labeling. Of late, millennials and Gen Z populations have shown traction for advanced packaging with respect to environmental impact. Growing preference from health-conscious consumers could foster meat substitute market share during the forecast period. Besides, escalating risk of cardiovascular disease, diabetes, and cancer due to consumption of red meat will further encourage the consumption of plant-based protein foods. However, difficulty in mirroring the meat color and challenges with respect to manufacturing meat flavor could dent the market growth.
Competitive Landscape
Stakeholders Invest in Mergers & Acquisitions to Boost Portfolios
Major companies could invest in product launches, mergers & acquisitions, and technological advancements to bolster footprint. Besides, an influx of funds into R&D activities will encourage well-established players and new entrants to propel their portfolios.
Meat Substitutes Market Analysis Report, Share, Trends and Overview 2022-2029
The global meat substitute market size was valued at USD 5.41 billion in 2021. The market is anticipated to surge from USD 5.88 billion in 2022 to USD 12.30 billion by 2029 at an 11.11% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Meat Substitute Market, 2022-2029.”
According to the study, plant-based products have become sought-after in minimizing the issues of dependence on livestock production for meat products. Clean meat substitute will gain further traction with the rising trend of vegan and vegetarian diets. Environment-friendly food products will continue to be sought globally. The Economist asserted that the number of vegans in the U.S. rose from 0.4% to 3.5% in 2021.
Major Players Profiled in the Report:
Beyond Meat (U.S.)
Impossible Foods (U.S.)
Kellogg Company (U.S.)
Tyson Foods (U.S.)
JBS SA (Brazil)
Conagra Brands, Inc. (U.S.)
Hain Celestial Group (U.S.)
Unilever Group (U.K.)
Nestle S.A. (Switzerland)
Sunfed (New Zealand)
Browse a Compleate Copy of This Research Report:
https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239
Segments
Soy-based Ingredients to Remain Dominant with Growing Demand from Vegan Population
With respect to source, the market is segregated into wheat-based ingredients, soy-based ingredients, other grain-based ingredients, and textured vegetable proteins. The soy-based ingredients segment could remain dominant due to growing traction among the vegan and vegetarian population. Moreover, the soaring popularity of tofu and tempeh across North America and Europe will boost ingredient adoption.
Mass Merchandiser to Grow with Easy Product Availability
With respect to distribution channel, the market is segmented into other retail channels, mass merchandisers, online retail, specialty stores, and food service. The mass merchandisers segment will exhibit notable growth due to easy availability and prevalence of discounts.
Report Coverage
The report provides a holistic view of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Moreover, qualitative and quantitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals. The research report also delves into pre and post-COVID-19 analysis to provide a comprehensive perspective of the market.
Drivers and Restraints
Advanced Form of Packaging Design to Reinforce Growth Potentials
Developed and developing countries have exhibited an increased inclination for clean products with carbon labeling. Of late, millennials and Gen Z populations have shown traction for advanced packaging with respect to environmental impact. Growing preference from health-conscious consumers could foster meat substitute market share during the forecast period. Besides, escalating risk of cardiovascular disease, diabetes, and cancer due to consumption of red meat will further encourage the consumption of plant-based protein foods. However, difficulty in mirroring the meat color and challenges with respect to manufacturing meat flavor could dent the market growth.
Competitive Landscape
Stakeholders Invest in Mergers & Acquisitions to Boost Portfolios
Major companies could invest in product launches, mergers & acquisitions, and technological advancements to bolster footprint. Besides, an influx of funds into R&D activities will encourage well-established players and new entrants to propel their portfolios.
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