Meat Substitutes Market by Type (Isolates, Concentrates and Textured), Product, Source, Form and Distribution Channel and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Meat Substitutes Market Size

The global Meat Substitutes market size was valued at $3.22 billion in 2023 and is projected to reach $7.78 billion by 2029, growing at a CAGR of 15.8% during the forecast period.

Meat Substitutes Market Dynamics

• The meat substitutes market is expected to witness significant growth in the future due to rising inclination for pea protein ingredients and the growing adoption of plant-based food.

• Additionally, the demand for meat substitutes is increasing as people become more aware of the environmental impact of animal farming and the growing trend of veganism. Furthermore, animal welfare campaigns are becoming more popular, to promote the adoption of all plant foods such as vegetables, cereals, pulses, seeds, fruits, nuts, spices, and herbs.

• However, concerns about soy and wheat allergies among consumers and stringent government policies and regulations regarding the safety of the food and contaminations are restraining the market growth.

Meat Substitutes Market Overview

Meat substitutes are meat analogs or meat alternatives that have a meat-like appearance and include nutrients found in meat, such as textured vegetable protein, Mycoprotein, Tofu Ingredients, and soy protein. These options include frozen, refrigerated, and shelf-stable foods. Meat substitutes are less likely than meat products to cause food poisoning or contamination.

By Source, Soy Protein Segment held the Larger Market Share

Soy protein is one of the most popular ingredients for giving the final product a meaty texture. Rather than being utilized as an isolate or concentrate, soy is mostly used as a textured protein in the market. It is also the most affordable plant-based source on the global market.

By Geography, Asia Pacific Market to Register Massive Lump of Growth by 2027

The market for Asia Pacific will show significant growth in the upcoming years. because Asian countries like Japan, China, India, and South Korea are experiencing growth in the sectors of animal welfare awareness created by global animal welfare organizations like PETA (People for the Ethical Treatment of Animals), and as a result, people are opting for a meat-free diet. Aside from that, the market is driven by increased urbanization, rising income levels, and growing awareness of the benefits of a high-protein diet in daily nutrition.

Some of the Key Players Profiled in the Report Include:

• Dupont
• Ingredion Incorporated
• Cargill
• Crespel & Deiters
• Kerry Group
• Adm
• Roquette Frères
• Batory Foods
• Beyond Meat
• The Nisshin Oillio Group, Ltd.
• Archer Daniels Midland Company
• Wilmar International Limited
• Amy’s Kitchen, Inc.
• Cauldron Foods
• Kellogg Company

This Report Helps to:

• Gain a deeper understanding of the impact of COVID-19 on the Meat Substitutes market.
• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.
• Identify potential growth opportunities.
• Gain in-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Know the historical and forecast size for each segment and sub-segment in (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type
• Isolates
• Concentrates
• Textured

Market by, Product
• Tofu
• Tempeh
• TVP (Textured Vegetable Protein)
• Seitan
• Quorn
• Other Products

Market by, Source
• Soy protein
• Wheat protein
• Pea protein
• Almond Protein
• Rice Protein
• Other Sources

Market by, Form
• Solid
• Liquid

Market by, Distribution Channel
• Supermarkets/ Hypermarkets
• Convenience Stores
• Online Stores
• Other Distribution Channels

Market by, Geography

The Meat Substitutes Market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Table Of Content

1 Market Overview           
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders        
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       

4 Market Dynamics           
    4.1 Market Drivers       
           4.1.1 Rising Inclination for Pea Protein Ingredients
           4.1.2 Growing Adoption of Plant-Based Food
    4.2 Market Restraints       
           4.2.1 Concerns about Soy and Wheat Allergies Among Consumers
    4.3 Market Opportunities      
    4.4 Market Challenges       
    4.5 Impact of COVID-19 on Meat Substitutes Market    
              
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Meat Substitutes Market by, Type        
    6.1 Overview       
    6.2 Isolates        
    6.3 Concentrates       
    6.4 Textured        
             
7 Global Meat Substitutes Market by, Product        
    7.1 Overview       
    7.2 Tofu        
    7.3 Tempeh        
    7.4 TVP (Textured Vegetable Protein)     
    7.5 Seitan        
    7.6 Quorn        
    7.7 Other Products       
           7.7.1 Risofu 
           7.7.2 Valess 
           7.7.3 Lupine 
             
8 Global Meat Substitutes Market by, Source        
    8.1 Overview       
    8.2 Soy protein       
    8.3 Wheat protein       
    8.4 Pea protein       
    8.5 Almond Protein       
    8.6 Rice Protein       
    8.7 Other Sources       
             
9 Global Meat Substitutes Market by, Form        
    9.1 Overview       
    9.2 Solid        
    9.3 Liquid        
             
10 Global Meat Substitutes Market by, Distribution Channel       
    10.1 Overview       
    10.2 Supermarket/ Hypermarkets      
    10.3 Convenience Stores       
    10.4 Online Stores       
    10.5 Other Distribution Channels      
             
11 Global Meat Substitutes Market by, Geography        
    11.1 Overview        
    11.2 North America       
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
    11.3 Europe        
             11.3.1 Germany
             11.3.2 France
             11.3.3 UK
             11.3.4 Italy
             11.3.5 Spain
             11.3.6 Rest of Europe
    11.4 Asia Pacific       
             11.4.1 China
             11.4.2 Japan
             11.4.3 India
             11.4.4 South Korea
             11.4.5 Australia
             11.4.6 New Zealand
             11.4.7 Rest of Asia Pacific
    11.5 South America       
             11.5.1 Brazil
             11.5.2 Argentina
             11.5.3 Chile
             11.5.4 Rest of South America
    11.6 Middle East & Africa      
             11.6.1 UAE
             11.6.2 Saudi Arabia
             11.6.3 Qatar
             11.6.4 Iran
             11.6.5 South Africa
             11.6.6 Rest of Middle East & Africa
             
12 Key Developments           
             
13 Company Profiling            
    13.1 Dupont        
             13.1.1 Business Overview
             13.1.2 Product/Service Offering
             13.1.3 Financial Overview
             13.1.4 SWOT Analysis
             13.1.5 Key Activities
    13.2 Ingredion Incorporated       
    13.3 Cargill        
    13.4 Crespel & Deiters       
    13.5 Kerry Group       
    13.6 Adm        
    13.7 Roquette Frères       
    13.8 Batory Foods       
    13.9 Beyond Meat       
    13.10 The Nisshin Oillio Group, Ltd.      
    13.11 Archer Daniels Midland Company     
    13.12 Wilmar International Limited      
    13.13 Amy’s Kitchen, Inc.       
    13.14 Cauldron Foods       
    13.15 Kellogg Company