The meat substitutes market is projected to reach USD 5.96 Billion by 2022, at a CAGR of 6.6% from 2016. The growth in demand for plant-based and healthy sources of protein and nutrients is the main driving factor of this market.
The frozen meat substitutes market is gaining popularity due to changes in purchasing patterns, coupled with fast life styles and the shift from traditional food to convenience food, from small grocery shops to supermarkets, especially in emerging countries such as BRICS and ASEAN. Consequently, significant growth in the convenience food industry, including ready-to-eat foods and ready-to-cook foods, has also fueled the growth of the frozen meat substitutes market, globally.
The meat substitutes market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Increase in disposable incomes, growth in demand from developing, populous countries such as China, Japan, South Korea, and India, and the shift in dietary preferences towards healthy and nutritious food increases the demand for non-animal sourced protein rich food products, which in turn drives the growth of the Asia-Pacific meat substitutes market.
Despite numerous advantages of meat substitutes, the lack of consumer awareness and the usage of GMO seeds for producing meat substitutes are some of the significant challenges of the global meat substitutes market. Soy is largely used for the production of meat substitutes, out of which a significant amount of the total soybeans produced is genetically modified. Most of the genetically modified soy is industrially produced with hexane, which may lead to the damage of the nervous system if consumed in large quantities.
- Amy's Kitchen Inc.
- Beyond Meat, Inc.
- E.I. Du Pont De Nemours & Company
- Garden Protein International Inc.
- Mgp Ingredients Inc.
- Morningstar Farms LLC
- Quorn Foods
- Sonic Biochem Extractions Ltd.
- The Nisshin Ollio Group Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Meat Substitutes Market, by Function
8 Meat Substitutes Market, by Source
9 Meat Substitutes Market, by Category
10 Meat Substitutes Market, by Region
11 Brand Overview
12 Competitive Landscape
13 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/jp7xqs/meat_substitutes
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