LONDON, Dec. 16, 2015 /PRNewswire/ --
The global meat substitutes market is projected to grow significantly from an estimated value of USD 3.80 billion in 2015 to USD 5.17 billion by 2020 at a CAGR of 6.4% between 2015 and 2020. The growth in this market is propelled by continuous growth in the vegetarian food industry and the increasing health concerns of consumers.
The Asia-Pacific market will register highest growth by 2020 owing to the significant increase in the awareness level in consumers for health and wellness and increasing demand for healthy and clean-label food in the region. The growth of this region is supplemented by the increasing per-capita spending power and changing food habits in developing economies such as India and China.
The growing demand for meat-free food products and increasing health concerns are expected to drive the market for meat substitutes globally. In addition to this, key factors such as increase in adoption rate of vegan & vegetarian diet and increasing health concerns for pets, increasing environmental issues, and presence of modernized retail chain in emerging markets are projected to support the growth in the meat substitutes market in the forthcoming years.
This report covers the global meat substitutes market in major regions such as North America, Europe, Asia-Pacific, and RoW. The meat substitutes market is segmented on the basis of type, source, category, and region. By type, the tofu & tofu ingredients segment is projected to dominate the global meat substitutes market between 2015 and 2020. By source, the soy-based segment is projected to have the largest market during the forecast period. The frozen meat substitutes segment will dominate the meat substitutes category segment from 2015 to 2020.
This report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, and challenges. Major meat substitutes companies such as Amy's Kitchen (U.S.), Beyond Meat (U.S.), Sonic Biochem Extractions Limited (India), MGP Ingredients (U.S.), Garden Protein International Inc. (Canada), Quorn Foods (U.K.), Morningstar Farms (U.S.), Vbites Foods Ltd. (U.K.), The Nisshin Ollio Group, Ltd. (Japan), and Meatless B.V. (The Netherlands) have been profiled in it.
1.1 AVAILABLE CUSTOMIZATIONS
With the given market data, MarketsandMarkets offers customizations according to the company's specific scientific needs.
The following customization options are available for the report:
- Product matrix which gives a detailed comparison of the product portfolio of each company
- Further breakdown of the Rest of Asia-Pacific meat substitutes market into Malaysia, Thailand, , and Vietnam
- Further breakdown of other countries in RoW meat substitutes market into Iran, Egypt, Chile, and Peru
- Detailed analyses and profiling of additional market players (up to five)
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