Global Meat Substitutes Market (2021 to 2027) - Increasing Government Initiatives Presents Opportunities
DUBLIN, Sept. 24, 2021 /PRNewswire/ -- The "Global Meat Substitutes Market by Source (Soy Protein, Wheat Protein, Pea Protein, and Other Sources), Product (Tofu, Tempeh, Seitan, Quorn, and Other Products), Type (Textured, Concentrates, and Isolates), Form, Category, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the meat substitutes market is estimated to be valued at USD 1.9 billion in 2021 and is projected to reach USD 4.0 billion by 2027, recording a CAGR of 13.5%, in terms of value.
The market is primarily driven by factors such as increasing health-consciousness among consumers and a rise in consumption of plant-based foods.
North America region accounted for the market share in the meat substitutes market owing to the rising investments and consumers' demand for vegan products in the region. However, one of the restraining factors in the growth of meat substitutes market is the high production cost of meat substitute products.
By product, the tempeh segment is projected to account for the second-largest market share during the forecast period
Based on product, the tempeh segment is projected to account for the second-largest market share in the market during the forecast period. Tempeh is an excellent substitute for ground beef. There are numerous health benefits offered by tempeh.
For example, it helps in increasing the antibodies and decreasing the sugar levels, which reduces the risk of diabetes. It also helps in lowering cholesterol levels, which helps in reducing the risk of heart diseases.
By source, the soy segment is estimated to account for the largest share
The soy segment of the meat substitutes is dominating the market. Soy protein has been one of the most preferred ingredients for imparting the meat texture in the final product. Soy is majorly used as a textured protein in the market, rather than being used as an isolate or concentrate. Also, it is the cheapest plant-based source available in the global market.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The Asia Pacific region is projected to be the fastest-growing market for the period considered for this study. The key factors driving growth in the Asia Pacific region include health benefits, animal welfare, environment safety, cost affordability, and the growing variety of plant-based meat products.
Heightened awareness through global animal welfare organizations, such as People for the Ethical Treatment for Animals (PETA), has led to people considering a meat-free diet.
The meat substitutes market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (Middle East and Africa).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities In the Meat Substitutes Market
4.2 North America: Meat Substitutes Market, by Type & Country
4.3 Meat Substitutes Market, by Product
4.4 Meat Substitutes Market, by Source & Region
4.5 Meat Substitutes Market, by Type
4.6 Meat Substitutes Market, by form
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising adoption of plant-based food
5.2.1.1.1 Increasing vegan & flexitarian population across the world
5.2.1.1.2 Increasing obesity globally
5.2.1.2 Increasing investments in plant-based protein ingredients
5.2.1.3 Increasing inclination for pea protein ingredients
5.2.2 Restraints
5.2.2.1 Rising market of cultured meat and insect protein
5.2.2.2 Allergy concerns among consumers for soy and wheat products
5.2.3 Opportunities
5.2.3.1 Emerging markets illustrate the great potential for meat substitutes
5.2.3.2 Increasing government initiatives
5.2.3.3 Technological advancements in extrusion and processing
5.2.4 Challenges
5.2.4.1 Pricing pressure
5.2.4.2 Perception of taste
5.2.5 COVID-19 Impact Analysis: (Market Dynamics)
6 Industry Trends
6.1 Introduction
6.2 Value Chain
6.2.1 Research & Development
6.2.2 Raw Material Sourcing
6.2.3 Production and Processing
6.2.4 Packaging
6.2.5 Marketing & Distribution
6.2.6 End-Use Industry
6.3 Supply Chain Analysis
6.4 Technology Analysis
6.4.1 Extrusion Technology
6.4.2 Extrudable Fat Technology
6.5 Pricing Analysis: The Meat Substitutes Market
6.6 Market Map and Ecosystem Meat Substitutes Market
6.6.1 Demand Side
6.6.2 Supply Side
6.6.3 Plant-Based Ingredients: Ecosystem View
6.6.4 Meat Substitutes: Market Map
6.7 Trends/Disruptions Impacting the Customer's Business
6.8 Patent Analysis
6.9 Trade Analysis
6.9.1 Soya Beans
6.9.2 Wheat
6.9.3 Pea
6.10 Porter's Five forces Analysis
6.11 Case Studies
6.12 Regulations
7 Meat Substitutes Market, by Product
7.1 Introduction
7.1.1 COVID-19 Impact On Meat Substitutes Market, by Product
7.1.1.1 Optimistic scenario
7.1.1.2 Realistic scenario
7.1.1.3 Pessimistic scenario
7.2 Tofu
7.2.1 Tofu Has A Major Application In the Production of Plant-Based Burgers and Patties
7.3 Tempeh
7.3.1 Increasing Awareness Related To the Health Benefits Associated With Fermented Food Products To Boost the Demand for Tempeh
7.4 Seitan
7.4.1 Dense Texture and Neutral Flavor Make Seitan A Popular Meat Substitute
7.5 Quorn
7.5.1 Various Health and Environmental Benefits Provided by Quorn To Drive Its Demand for Meat Substitutes
7.6 Other Products
7.6.1 Various Health-Related Benefits offered by Meat Substitute Products To Drive their Demand
8 Meat Substitutes Market, by Source
8.1 Introduction
8.1.1 COVID-19 Impact On Meat Substitutes Market, by Source
8.1.1.1 Optimistic scenario
8.1.1.2 Realistic scenario
8.1.1.3 Pessimistic scenario
8.2 Soy Protein
8.2.1 Soy Protein Is Preferred by Manufacturers As It Imparts Similar Texture To Meat Substitutes As Traditional Meat
8.3 Wheat Protein
8.3.1 High Availability of Wheat As A Raw Material Is Encouraging Manufacturers To Incorporate It In the Production of Meat Substitutes
8.4 Pea Protein
8.4.1 Rising Investment by Manufacturers To Boost the Demand for Pea Protein
8.5 Other Sources
8.5.1 Increasing Demand for Plant-Based Proteins and Alternatives of Soy Protein To Drive the Market for Other Sources
9 Meat Substitutes Market, by Type
9.1 Introduction
9.1.1 COVID-19 Impact On the Meat Substitutes Market, by Type
9.1.1.1 Optimistic scenario
9.1.1.2 Realistic scenario
9.1.1.3 Pessimistic scenario
9.2 Concentrates
9.2.1 Lower Price of Concentrates To Boost Its Demand In the Meat Substitutes Market
9.3 Isolates
9.3.1 Isolates Are the Purest form of Protein and A Type With the Highest Amount of Protein
9.4 Textured
9.4.1 Textured Protein To Witness High Growth Due To Its Resemblance With Conventional Meat In Terms of Texture
10 Meat Substitutes Market, by form
10.1 Introduction
10.1.1 COVID-19 Impact On the Meat Substitutes Market, by form
10.1.1.1 Optimistic scenario
10.1.1.2 Realistic scenario
10.1.1.3 Pessimistic scenario
10.2 Solid
10.2.1 Solid form of Proteins Is Preferred Because It Is Easier To Store and Handle
10.3 Liquid
10.3.1 Demand for Liquid Plant Proteins To Be Low In the Future As they Do Not Provide Convenience To Manufacturers
11 Meat Substitutes Market, by Category
11.1 Introduction
11.2 Frozen
11.2.1 Freezing Meat Substitutes Help In Preserving their Nutritional Value
11.3 Refrigerated
11.3.1 Refrigerated Meat Substitutes Are Being Preferred by Consumers As they Are Fresher As Compared To Frozen Products
11.4 Shelf Stable
11.4.1 Shelf-Stable Meat Alternatives Is A Category Explored by Various Startups
12 Meat Substitutes Market, by Region
13 Competitive Landscape
13.1 Overview
13.2 Market Share Analysis, 2020
13.3 Revenue Analysis of Key Players
13.4 COVID-19-Specific Company Response
13.5 Company Evaluation Quadrant (Key Players)
13.5.1 Stars
13.5.2 Pervasive Players
13.5.3 Emerging Leaders
13.5.4 Participants
13.5.5 Product Footprint
13.6 Meat Substitutes Market, Start-Up/SME Evaluation Quadrant, 2020
13.6.1 Progressive Companies
13.6.2 Starting Blocks
13.6.3 Responsive Companies
13.6.4 Dynamic Companies
13.7 Competitive Scenario
13.7.1 New Product Launches
13.7.2 Deals
13.7.3 Expansions and Investments
14 Company Profiles
14.1 Key Players
14.1.1 Ingredion Incorporated
14.1.2 ADM
14.1.3 Dupont
14.1.4 Kerry Group
14.1.5 Roquette Freres
14.1.6 The Nisshin Oillio Group, Ltd.
14.1.7 Cargill
14.1.8 Batory Foods
14.1.9 Wilmar International Limited
14.1.10 Crespel & Deiters
14.2 Start-Ups/SMEs
14.2.1 A&B Ingredients
14.2.2 All Organic Treasures GmbH
14.2.3 Sonic Biochem Ltd.
14.2.4 Puris
14.2.5 Sotexpro S.A
14.2.6 Axiom Foods
14.2.7 The Green Labs Llc
14.2.8 Shandong Jianyuan Group
14.2.9 ET Chem
14.2.10 Beneo
14.3 Long List of Companies
15 Adjacent and Related Markets
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/mezzuc
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