Meat Substitutes Market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Seitan, and Quorn), Source (Soy, Wheat, and Mycoprotein), Category (Frozen, Refrigerated, and Shelf-Stable), and Region - Global Forecast to 2023

The meat substitutes market was valued at USD 4.33 Billion in 2017; this is projected to grow at a CAGR of 6.8%, to reach USD 6.43 Billion by 2023. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023. The basic objective of the report is to define, segment, and project the global market size for meat substitutes on the basis of category, type, source, and region. It also helps to understand the structure of the meat substitutes market by identifying its various segments. The other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and micro indicators of this market to provide factor analysis, and to project the size of the market.

This report includes estimations of the market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global meat substitutes market and to estimate the size of various other dependent submarkets in the overall market. The key players in the market have been identified through secondary research, some of the sources are press releases, paid databases such as Factiva and Bloomberg, annual reports, and financial journals; their market share in respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.

To know about the assumptions considered for the study, download the pdf brochure

The key players that are profiled in the report include ADM (US), DuPont (US), The Nisshin OilliO Group (Japan), Sonic Biochem Limited (India), MGP Ingredients (US), Garden Protein International (Canada), Beyond Meat (US), Amy's Kitchen (US), Quorn Foods (UK), MorningStar Farms (US), Meatless (Netherlands), and VBites (UK).

This report is targeted at the existing players in the industry, which include the following:

• Regulatory and research organizations
• Raw material producers, suppliers, and distributors
• Food retailers
• Meat substitutes manufacturers, traders, distributors, and dealers

“The study answers several questions for stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report

The meat substitutes market has been segmented as follows,

On the basis of Category,

• Frozen
• Refrigerated
• Shelf-stable

On the basis of Type,

• Tofu & tofu ingredients
• Tempeh
• Textured vegetable protein
• Other soy products (miso, yaso, and nattô)
• Seitan
• Quorn
• Other meat substitutes (risofu, valess, lupine, and pea protein)

On the basis of Source,

• Soy
• Wheat
• Mycoprotein
• Others (rice, peas, pulses, and milk)

On the basis of Region,

• North America
• Europe
• Asia Pacific
• RoW (Brazil, Argentina, and South Africa)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company.

Regional Analysis

Further breakdown of the Rest of Europe meat substitutes market into Russia, Belgium, and Sweden.

Company Information

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
    1.4 Years Considered
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Industry Insight
    2.2 Market Size Estimation
           2.2.1 Top-Down Approach
           2.2.2 Bottom-Up Approach
    2.3 Data Triangulation
    2.4 Research Assumptions
    2.5 Research Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Market Opportunities in the Meat Substitutes Market
    4.2 Meat Substitutes Market, By Type
    4.3 Meat Substitutes Market, By Source
    4.4 Asia Pacific Meat Substitutes Market, By Application & Country
    4.5 Meat Substitutes Market Share, By Category
    4.6 Developed vs Emerging Markets for Meat Substitutes, By Country

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Health Concerns, Due to Increasing Obesity Levels Brought on By the Consumption of Meat Products
                    5.2.1.2 Health Benefits of Meat Substitutes
                    5.2.1.3 Increased Preference for Vegetarian and Vegan Foods
           5.2.2 Restraints
                    5.2.2.1 Ill Effects of Consuming Meat Substitutes
           5.2.3 Opportunities
                    5.2.3.1 Exploring Technological Advancements to Develop New Product Lines
                    5.2.3.2 Growth Potential in the Asia Pacific Market
           5.2.4 Challenges
                    5.2.4.1 Perception of Taste
                    5.2.4.2 Genetically Modified (GM) Soybeans
    5.3 Supply Chain Analysis
    5.4 Regulatory Environment

6 Meat Substitutes Market, By Type (Page No. - 43)
    6.1 Introduction
    6.2 Tofu & Tofu Ingredients
    6.3 Tempeh
    6.4 Textured Vegetable Protein (TVP)
    6.5 Other Soy Products
    6.6 Seitan
    6.7 Quorn
    6.8 Other Types of Meat Substitutes

7 Meat Substitutes Market, By Source (Page No. - 53)
    7.1 Introduction
    7.2 Soy
    7.3 Wheat
    7.4 Mycoprotein
    7.5 Other Sources of Meat Substitutes

8 Meat Substitutes Market, By Category (Page No. - 58)
    8.1 Introduction
    8.2 Frozen
    8.3 Refrigerated
    8.4 Shelf-Stable

9 Meat Substitutes Market, By Region (Page No. - 62)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 UK
           9.3.3 Spain
           9.3.4 France
           9.3.5 Italy
           9.3.6 Netherlands
           9.3.7 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 India
           9.4.3 Japan
           9.4.4 Australia & New Zealand
           9.4.5 Rest of Asia Pacific
    9.5 RoW
           9.5.1 Brazil
           9.5.2 Argentina
           9.5.3 South Africa
           9.5.4 Others

10 Competitive Landscape (Page No. - 95)
     10.1 Overview
     10.2 Ranking Analysis
     10.3 Key Market Strategies
             10.3.1 New Product Launches
             10.3.2 Expansions & Investments
             10.3.3 Acquisitions
             10.3.4 Mergers

11 Company Profiles (Page No. - 100)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View)*
     11.1 ADM
     11.2 Dupont
     11.3 The Nisshin Oillio Group
     11.4 Sonic Biochem Limited
     11.5 MGP Ingredients
     11.6 Garden Protein International
     11.7 Beyond Meat
     11.8 Amy’s Kitchen
     11.9 Quorn Foods
     11.10 Morningstar Farms
     11.11 Meatless
     11.12 Vbites

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.

12 Appendix (Page No. - 126)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Introducing RT: Real-Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details

List of Tables (77 Tables)

Table 1 USD Exchange Rate Conversion
Table 2 Meat Substitutes Market Size, By Type, 2016–2023 (USD Million)
Table 3 Tofu & Tofu Ingredients Market Size, By Region, 2016–2023 (USD Million)
Table 4 Tempeh Market Size, By Region, 2016–2023 (USD Million)
Table 5 TVP Market Size, By Region, 2016–2023 (USD Million)
Table 6 Other Soy Products Market Size, By Region, 2016–2023 (USD Million)
Table 7 Seitan Market Size, By Region, 2016–2023 (USD Million)
Table 8 Quorn Market Size, By Region, 2016–2023 (USD Million)
Table 9 Other Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 10 Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 11 Soy-Based Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 12 Wheat-Based Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 13 Mycoprotein-Based Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 14 Other Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 15 Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 16 Frozen Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 17 Refrigerated Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 18 Shelf-Stable Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 19 Meat Substitutes Market Size, By Region, 2016–2023 (USD Million)
Table 20 North America: Meat Substitutes Market Size, By Country, 2016–2023 (USD Million)
Table 21 North America: Meat Substitutes Market Size, By Type, 2016–2023 (USD Million)
Table 22 North America: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 23 North America: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 24 US: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 25 US: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 26 Canada: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 27 Canada: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 28 Mexico: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 29 Mexico: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 30 Europe: Meat Substitutes Market Size, By Country, 2016–2023 (USD Million)
Table 31 Europe: Meat Substitutes Market Size, By Type, 2016–2023 (USD Million)
Table 32 Europe: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 33 Europe: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 34 Germany: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 35 Germany: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 36 UK: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 37 UK: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 38 Spain: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 39 Spain: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 40 France: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 41 France: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 42 Italy: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 43 Italy: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 44 Netherlands: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 45 Netherlands: Meat Substitutes Market, By Category, 2016–2023 (USD Million)
Table 46 Rest of Europe: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 47 Rest of Europe: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 48 Asia Pacific: Meat Substitutes Market Size, By Country, 2016–2023 (USD Million)
Table 49 Asia Pacific: Meat Substitutes Market Size, By Type, 2016–2023 (USD Million)
Table 50 Asia Pacific: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 51 Asia Pacific: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 52 China: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 53 China: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 54 India: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 55 India: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 56 Japan: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 57 Japan: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 58 Australia & New Zealand: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 59 Australia & New Zealand: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 60 Rest of Asia Pacific: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 61 Rest of Asia Pacific: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 62 RoW: Meat Substitutes Market Size, By Country, 2016–2023 (USD Million)
Table 63 RoW: Meat Substitutes Market Size, By Type, 2016–2023 (USD Million)
Table 64 RoW: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 65 RoW: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 66 Brazil: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 67 Brazil: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 68 Argentina: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 69 Argentina: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 70 South Africa: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 71 South Africa: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 72 Others in RoW: Meat Substitutes Market Size, By Source, 2016–2023 (USD Million)
Table 73 Others in RoW: Meat Substitutes Market Size, By Category, 2016–2023 (USD Million)
Table 74 New Product Launches
Table 75 Expansions & Investments
Table 76 Acquisitions
Table 77 Mergers

List of Figures (35 Figures)

Figure 1 Meat Substitutes Market: Market Segmentation
Figure 2 Meat Substitutes Market: Regional Segmentation
Figure 3 Meat Substitutes Market Information and Data : Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Breakdown and Data Triangulation
Figure 8 Meat Substitutes Market Size, By Type, 2018 vs 2023 (USD Million)
Figure 9 Meat Substitutes Market Size, By Source, 2018 vs 2023 (USD Million)
Figure 10 Meat Substitutes Market Size, By Category, 2018 vs 2023 (USD Million)
Figure 11 Meat Substitutes Market Share, By Region, 2017
Figure 12 Rising Health Concerns Due to Increasing Obesity Levels Brought on By the Consumption of Meat Products Drives the Meat Substitutes Market
Figure 13 Tofu & Tofu Ingredients Segment Dominated the Market in 2017
Figure 14 Soy Segment Led the Market in All the Regions in 2017
Figure 15 Soy Segment Held the Largest Share in 2017
Figure 16 Frozen Segment Dominated the Meat Substitutes Market in 2017
Figure 17 India to Record Highest CAGR, 2018—2023 (USD Million)
Figure 18 Rising Health Concerns Due to Increasing Obesity Levels Brought on By the Consumption of Meat Products
Figure 19 Obesity Among Adults (2015)
Figure 20 Soybean Production in India and China, 2016 vs 2017 (MMT)
Figure 21 Meat Substitutes Market: Supply Chain
Figure 22 Geographic Snapshot (2018–2023): Rapidly Growing Markets are Emerging as New Hotspots
Figure 23 Europe: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players in the Meat Substitutes Market, 2013–2017
Figure 26 Meat Substitutes Market Developments, By Growth Strategy, 2015–2017
Figure 27 ADM: Company Snapshot
Figure 28 ADM: SWOT Analysis
Figure 29 Dupont: Company Snapshot
Figure 30 Dupont: SWOT Analysis
Figure 31 The Nisshin Oillio Group: Company Snapshot
Figure 32 The Nisshin Oillio Group: SWOT Analysis
Figure 33 Sonic Biochem Limited: SWOT Analysis
Figure 34 MGP Ingredients: Company Snapshot
Figure 35 MGP Ingredients: SWOT Analysis

The global meat substitutes market is estimated to be USD 4.63 Billion in 2018 and is projected to grow at a CAGR of 6.8%, to reach USD 6.43 Billion by 2023. Factors such as public awareness regarding the increase in obesity levels, as a result of high meat consumption, have led to the demand for meat substitutes. Moreover, perceived social and environmental concerns associated with high consumption of meat, such as religious restrictions and carbon footprint of the meat industry, have further led consumers to reduce meat consumption and opt for substitutes.

On the basis of category, the frozen meat substitutes accounted for the largest share, followed by the refrigerated meat substitute, in 2017. The frozen meat substitutes market is gaining popularity due to changes in purchasing patterns, with consumers moving from small grocery shops to hyper and supermarkets, especially in emerging economies such as India, China, and Brazil.

The meat substitutes market, on the basis of type, is segmented into tofu & tofu ingredients, tempeh, TVP, seitan, Quorn, and other soy products that include miso, yaso, and nattô, and other meat substitutes that include risofu, valess, lupine, rice protein, and pea protein. Tofu and tofu ingredients accounted for the largest market share in 2017. Tofu and its ingredients are made from soybean and are a popular choice due to their high protein content and availability.

On the basis of source, soy-based meat substitutes accounted for a larger market share in 2017, followed by mycoprotein-based. Consumers are largely attracted to soy-based meat products as soy products have high protein content. Hence, the demand for soy has increased in the meat substitute industry.

Europe accounted for the largest share of the meat substitutes market in 2017. This market is driven by the rise in health-conscious consumers due to the growing incidences of diseases and conditions such as diabetes, high-blood pressure, and constipation that has been fueling the market for meat substitutes.

The major restraining factor for the meat substitutes market are some ill-effects caused by the consumption of soy. Intake of some anti-nutritional component such as Kunitz STI trypsin, present in soy can cause health issues, such as soy allergy.

Companies such as ADM (US), DuPont (US), and Quorn Foods (UK) have acquired a leading market position through the provision of a broad product portfolio, along with a focus on diverse end-user segments. They are also focused on innovations and are geographically diversified.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst