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Factors such as the health advantages linked with meat substitutes, inclination of customers towards
these products is rising across the world. The consumption of meat substitutes is beneficial for health
owing to the high protein content. Rise in health awareness among consumers along with altering the
preferences towards vegetarian diet are anticipated to propel the meat substitutes market growth during
the forecasted years.
Soy is the major raw material utilized for meat substitutes and is projected to render maximum revenue
in the forecast years. Large number of companies are investing profoundly in research and development
activities in order to launch superior products and also broaden their product portfolio in order to meet
the developing demand for meat substitutes especially from emerging economies. The organizations
working in meat substitutes market are majorly involved in partnerships as well as collaborations in
order to reinforce their product portfolio.
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The global meat substitutes market is classified based on product type and raw material. Depending upon
product type, the global market is divided into tofu based products, quorn, tempeh, textured vegetable
protein, tofu, other soy products, seitan, and others. The textured vegetable protein market segment is
projected to be the major segment in terms of revenue share over future years. Factors such as rise in
demand for soy-based meat substitutes among the consumers are leading to the high growth of the
Based on raw material used, the global meat substitutes market is classified into wheat based,
mycoprotein, soy based and others. Among the different types of raw material utilized for meat
substitutes, soy is the leading market segment, followed by wheat based over the forecast years. The
wheat based meat substitutes market is increasing especially in Asia-Pacific region owing to the large
consumption of wheat gluten by people in Asia Pacific region. Based on region, the global meat
substitutes market is classified into North America, Latin America, Europe, Asia Pacific and Middle East
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The global meat substitutes market is anticipated to witness strong growth over the future years owing
to the increasing health awareness along with rising outbreak of animal diseases. Based upon regions, the
European regional segment is likely to contribute largest market share, followed by North America
during the future period. Rise in health concern of consumers in developed regions such as Europe and
North America is estimated to propel the growth of the meat substitute market. However, the Asia-Pacific
regional market is estimated to witness significant growth due to the increasing disposable income of
consumers in developing regions.
The major players in the meat substitutes market are Quorn Foods Inc., AMY's Kitchen, Inc., Vbites Foods
Ltd , Beyond Meat, gardein, Meatless B.V., Blue Chip Group Pty Ltd and Cauldron Foods. The major
players operating in meat substitues market are chiefly adopting strategy to increasingly produce novel
and superior products to cater to the budding and unmet need of consumers.
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