Meat Substitutes Market

Meat Substitutes Market by Source (Soy protein, Wheat protein, Pea protein), Type (Concentrates, Isolates, and Textured), Product (Tofu, Tempeh, Seitan, and Quorn), Form (Solid and Liquid), and Region - Global Forecast to 2026

Report Code: FB 2515 Jan, 2020, by marketsandmarkets.com

[188 Pages Report] The global meat substitutes market is estimated to account for USD 1.6 billion in 2019 and is projected to reach USD 3.5 billion by 2026, recording a CAGR of 12.0% during the forecast period. The North American region is estimated to dominate the global market in 2019, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period. The key drivers for the market growth are the rise in the adoption of plant-based protein, an increase in investments in plant-based protein ingredients, and a surge in the inclination of consumers for pea protein ingredients. To meet the increasing demand, plant-based meat manufacturers are launching new products in the market. This factor is projected to create significant growth opportunities for the key players in the meat substitutes market.

Meat Substitutes Market

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Market Dynamics:

Drivers: Rising adoption of plant-based protein

Modern consumers have adopted a trend of following a healthy and sustainable lifestyle, which has witnessed an increase in demand for plant-based food products. Due to the changing perception, plant-based products are turning out to be an ideal solution. The aspect of a healthy lifestyle and supported by the integration of plant-based alternatives has become a popular trend among consumers who are increasingly open to the idea of plant-based products. According to the International Food Information Council, the US witnessed a growth rate of 54% in terms of food & beverage product launches, with plant-based claims between 2013 and 2017.

Restraints: Allergy concerns among consumers for soy and wheat products

Incidences of food allergies and intolerances have been witnessed for centuries. However, in recent years, the prevalence of food allergies has witnessed an increase and has become a concern for consumers, as well as food manufacturers. According to the Food Allergy Research & Education organization (US), “soy and wheat are two of the top eight major food allergens that are responsible for most of the serious food allergy reactions in the US.” For instance, soybeans are rich in nutrient content, such as vitamins, minerals, isoflavones, and proteins. However, anti-nutritional components present in soy could cause health issues, such as soy allergy. Soy allergy could also lead to itching and hives in people. Other symptoms include gas, bloating, and low levels of irritation of the intestinal tissue. These factors are projected to restrain the meat substitutes market during the forecast period, as soy protein is one of the major sources used to produce meat substitutes.

Opportunities: Technological advancement in extrusion and processing

Extrusion and processing play an important role in the meat substitutes market. Processing involves the extraction of pea protein, soy protein, and wheat protein. Traditional dry extraction technologies are used to produce protein flour containing only 20% to 40% protein and concentrate containing 46%–60% proteins. Dry extrusion leads to proteins that are less digestible and have low sensory properties. However, the limitations of dry extracting had led to the evolution of the technologically advanced wet extraction process.

Challenges: Perception of taste

Meat substitutes contain nutritional benefits similar to that of meat. Due to this, manufacturers are focusing on making meat substitutes similar to meat in terms of texture, color, flavor, and taste. However, most consumers are disappointed by the taste and variety of meat substitutes, as they believe that meat substitutes are either too gummy or too chewy. As a result, they believe that there is a significant compromise in taste if they opt for meat substitutes. For instance, the off-flavor of soy protein makes it undesirable for consumption. The off-flavor is caused by compounds, such as aldehydes, ketones, furans, and alcohols. Medium-chain aldehydes are among the major reasons for the beany and grassy taste of soy products. However, the high nutritional value of soy has led to its increased demand.

By source, the pea segment is projected to grow with the highest CAGR in the meat substitute market during the forecast period

The rise in awareness among consumers about the benefits offered by healthy food products and replacing meat meals with vegetarian diets have led to an increase in demand for plant-based protein. Pea has been recognized as a major source of protein in recent times. Hence, it has been a preferred choice of meat substitute for the manufacturers of plant-based meat. There are many pea-based meat products available in the market. Some of these are burger patties, sausages, and slides. Pea protein can be consumed by people who are allergic to gluten or soy. Hence, the demand for this source has been on the rise.

Based on type, the concentrates segment is projected to witness the highest growth in the meat substitutes market during the forecast period

Protein concentrates (SPC) is a high-protein product, which contains nearly 65%-90% of protein. They retain more dietary fibers, vitamins, and minerals than isolates. Soy protein concentrates provide protein content equal to that offered by meat, egg, and milk. Protein concentrates are generally preferred to isolates as they are cheaper.

North America is projected to account for the largest share in the meat substitutes market for the concentrates segment during the forecast period. This is due to the low prices of concentrates compared to isolates. Another significant factor could be that soy protein concentrates (SPC) are easily digested by humans and contain the same amount of protein as found in milk, meat, and eggs.

Based on product, the tofu segment is projected to witness the highest share in the meat substitutes market

Tofu, tempeh, and seitan are the three major products of meat substitutes that are used to create final products, such as burger patties, sausages, and nuggets. Among these, tofu accounts for a major share in the meat substitutes market. This is attributed to its high acceptance and resemblance to meat products.

Meat Substitutes Market by Region

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Asia Pacific is projected to witness the highest growth in the meat substitutes market during the forecast period

The market growth in Asia Pacific is attributed to the increase in awareness among people about healthy dietary habits. Key factors driving the market growth in the Asia Pacific region include the need for health benefits, animal welfare, environment safety, cost affordability, and the growing variety of plant-based meat products. The awareness created through global animal welfare organizations, such as PETA (People for the Ethical Treatment for Animals), has led people to opt for a meat-free diet. Non-meat-based meals are already popular in Asia, with tofu used extensively in Asian cuisines and bean-based congees widely consumed in countries such as China. Moreover, the increase in the number of start-ups in Asian countries, such as India, Japan, and China, is further encouraging the market growth.

Key Market Players

Many domestic and global players provide various meat substitutes across the world. Major manufacturers have their presence in the North American and European countries. Key companies in the meat substitutes market are Archer Daniels Midland Company (US), DuPont (US), Roquette Frθres (France), Kerry (Ireland), Ingredion (US), Sotexpro S.A (France), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), The Emsland Group (Germany), and Cargill (US).

Scope of the Report

Report Metric

Details

Market size estimation

2017–2026

Base year considered

2018

Forecast period considered

2019–2026

Units considered

Value (USD) and Volume (KT)

Segments covered

Type, Source, Product, Form, and Region

Regions covered

North America, Asia Pacific, Europe, South America, and Middle East & Africa

Companies studied

  • Archer Daniels Midland Company (US)
  • Cargill (US)
  • DuPont (US)
  • Roquette Frθres (France)
  • Kerry (Ireland)
  • Ingredion (US)
  • The Nisshin OilliO Group Ltd (Japan)
  • Axiom Foods (US)
  • Sotexpro S.A (France)
  • Wilmar International Limited (Singapore)
  • CRESPEL & DEITERS (Germany)
  • CHS INC. (US)
  • Suedzucker (Germany)
  • MGP Ingredient (US)
  • Puris (US)
  • Sonic Biochem Ltd. (India)
  • The Top Health Ingredients (Canada)
  • The Emsland Group (Germany)

This research report categorizes the meat substitutes market based on type, source, product, form, and region.

Target Audience

  • Supply-side:
  • Meat substitutes manufacturers
  • Suppliers and distributors
  • Importers and exporters
  • Demand-side:
  • Food manufacturers and hotels & restaurants
  • Regulatory bodies:
  • Concerned government authorities
  • Commercial research & development (R&D) institutions
  • Other regulatory bodies
  • Associations and industry bodies:
  • World Health Organization (WHO)
  • Food and Drug Administration (FDA)
  • Institute of Food and Agricultural Sciences (IFAS)
  • Global Food & Beverage Association (GFBA)
  • National Food Safety and Quality Service (SENASA)
  • Canadian Food Inspection Agency (CFIA)
  • Center for Professional Advancement (CfPA)

Type

  • Concentrates
  • Isolates
  • Textured

Source

  • Soy protein
  • Wheat protein
  • Pea protein
  • Other sources (mycoprotein, rice, pulses, canola, and milk)

Product

  • Tofu
  • Tempeh
  • Seitan
  • Quorn
  • Other products (Risofu, Valess, and lupine)

Form

  • Solid
  • Liquid

Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Recent Developments

  • In August 2019, Cargill invested USD 75 million in PURIS (US), which is a key distributor of pea protein ingredients to Beyond Meat (US). This investment would enable PURIS to double its production of pea protein.
  • In August 2019, ADM (US) and Marfrig (Brazil) entered into a partnership to provide plant-based burgers in Brazil. Marfrig (Brazil) currently offers plant-based burgers in Brazil, whereas ADM provides natural ingredients and plant-based protein flavors to its US customers.
  • In March 2019, Ingredion launched VITESSENCE Pulse 1803, an organic pea protein isolate, thereby marking its move into the plant-based protein market. The new certified-organic pea protein isolate was designed to be used to formulate a broad range of protein-rich products across different categories, such as nutrition and sports bars, alternative meat and dairy products, powdered and RTD beverages, and better-for-you baked goods and baking mixes.
  • In May 2019, Ingredion established a partnership with Clara Foods (US) to expand its current product line of plant-based protein products.
  • In March 2019, Beneo (Germany) extended its partnership with Biowanze (Belgium) by investing USD 5.5 million in its production plant for vegetal protein in Wanze, Belgium.

Frequently Asked Questions (FAQ):

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Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Regions Covered
           1.3.2 Periodization Considered
    1.4 Currency Considered
    1.5 Units Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions for the Study
    2.5 Limitations of the Study

3 Executive Summary (Page No. - 33)

4 Premium Insights (Page No. - 39)
    4.1 Attractive Opportunities in the Market
    4.2 Meat Substitutes Market, By Region, 2019 vs. 2026
    4.3 Market, By Source, 2019 vs. 2026
    4.4 Meat Substitute Market, By Form, 2019 vs. 2026 (USD Million)
    4.5 North America: Meat Substitute Market, By Type and Country, 2018

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Adoption of Plant-Based Protein
                               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 Great Potential for Meat Substitutes
                    5.2.3.2 Increasing Government Initiatives
                    5.2.3.3 Technological Advancement in Extrusion and Processing
           5.2.4 Challenges
                    5.2.4.1 Pricing Pressure
                    5.2.4.2 Perception of Taste
    5.3 Yc & Ycc Shift
    5.4 Supply Chain
    5.5 Regulations
           5.5.1 Introduction
           5.5.2 Regulations, By Country/Region
                    5.5.2.1 US
                    5.5.2.2 Canada
                    5.5.2.3 Europe
                    5.5.2.4 India
    5.6 Patent Analysis

6 Meat Substitutes Market, By Product (Page No. - 59)
    6.1 Introduction
    6.2 Tofu
           6.2.1 Major Application in the Production of Plant-Based Burgers And Patties
    6.3 Tempeh
           6.3.1 Increasing Awareness About the Health Benefits Offered By Fermented Food Products Drives the Tempeh Market
    6.4 Seitan
           6.4.1 Dense Texture and Neutral Flavor Make Seitan A Popular Meat Substitute
    6.5 Quorn
           6.5.1 Quorn Provides Health and Environmental Benefits
    6.6 Other Products
           6.6.1 Other Types of Meat Substitutes Include Risofu, Valess, and Lupine

7 Meat Substitutes Market, By Source (Page No. - 69)
    7.1 Introduction
    7.2 Soy Protein
           7.2.1 Allergies Associated With Soy Protein Have Led to A Sluggish Demand in the Global Market
    7.3 Wheat Protein
           7.3.1 High Availability of Wheat as A Raw Material Encouraging Manufacturers of Low-Fat Food
    7.4 Pea Protein
           7.4.1 High Investments From Manufacturers Boosting the Demand for Pea Protein
    7.5 Other Sources
           7.5.1 Increasing Demand for Edible Fungus

8 Meat Substitutes Market, By Type (Page No. - 78)
    8.1 Introduction
    8.2 Concentrates
           8.2.1 Lower Price of Concentrates Boosts Their Demand in the Food Industry
    8.3 Isolates
           8.3.1 Isolates are the Purest Form of Protein, and A Type With the Highest Amount of It
    8.4 Textured
           8.4.1 Textured Protein to Witness High Growth Due to the Rising Awareness About Healthy Food Habits Among Consumers

9 Meat Substitutes Market, By Form (Page No. - 85)
    9.1 Introduction
    9.2 Solid
           9.2.1 The Solid Form of Proteins is Widely Preferred Because of Benefits Such as Ease in Storage and Handling
    9.3 Liquid
           9.3.1 Demand for the Liquid Form is Low Across the Globe

10 Meat Substitutes Market, By Region (Page No. - 89)
     10.1 Introduction
     10.2 North America
             10.2.1 US
                        10.2.1.1 Shift of Focus to Pea Protein By Key Players
             10.2.2 Canada
                        10.2.2.1 High-Growth Potential With Supporting Government Initiatives
             10.2.3 Mexico
                        10.2.3.1 An Untapped Market Owing to the High Prices of Plant-Based Protein in the Country
     10.3 Europe
             10.3.1 Germany
                        10.3.1.1 The Rising Trend of Veganism and Government Support for the Meat Alternatives Market to Drive Market Growth
             10.3.2 UK
                        10.3.2.1 Entry of Major Players in the Market Attracting Consumers
             10.3.3 France
                        10.3.3.1 Awareness About the Drawbacks of Animal-Based Meat Driving the Inclination of Consumers Toward Plant-Based Meat
             10.3.4 Italy
                        10.3.4.1 Entry of Key Players in the Italian Vegan Market Driving Growth
             10.3.5 Spain
                        10.3.5.1 Production and Promotion of Plant-Based Meat By Numerous Companies Driving the Growth of the Market
             10.3.6 Netherlands
                        10.3.6.1 Market for Meat Substitutes in the Country at an Extremely Nascent Stage
             10.3.7 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
                        10.4.1.1 Relatively Fragmented Market With Multiple Start-Ups Developing Generic Plant Proteins
             10.4.2 Japan
                        10.4.2.1 Japanese Consumers are More Inclined Toward Cultured Meat Products
             10.4.3 Singapore
                        10.4.3.1 Key Players are Entering the Market Because of the Acceptance of Consumers for Meat Substitute Products
             10.4.4 Australia & New Zealand
                        10.4.4.1 Health Benefits Offered By Vegan Meat Attract Consumers
             10.4.5 Rest of Asia Pacific
     10.5 South America
             10.5.1 Brazil
                        10.5.1.1 Increasing Investments in Plant-Based Meat By Key Players to Remain High in This Market
             10.5.2 Argentina
                        10.5.2.1 Argentina to Offer Growth Opportunities for Meat Alternative Manufacturers
             10.5.3 Rest of South America
     10.6 Middle East & Africa
             10.6.1 UAE
                        10.6.1.1 High Per Capita Income
             10.6.2 South Africa
                        10.6.2.1 Affordability of Meat Substitutes Attracts Consumers
             10.6.3 Rest of Mea

11 Competitive Landscape (Page No. - 133)
     11.1 Overview
     11.2 Competitive Leadership Mapping
             11.2.1 Dynamic Differentiators
             11.2.2 Innovators
             11.2.3 Visionary Leaders
             11.2.4 Emerging Companies
     11.3 Competitive Benchmarking
             11.3.1 Strength of Product Portfolios
             11.3.2 Business Strategy Excellence
     11.4 Competitive Scenario
             11.4.1 Expansions & Investments
             11.4.2 Acquisitions
             11.4.3 Partnerships & Joint Ventures
             11.4.4 New Product Launches

12 Company Profiles (Page No. - 142)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)* 
     12.1 Archer Daniels Midland Company
     12.2 Dupont
     12.3 Roquette Frθres
     12.4 Kerry
     12.5 Ingredion
     12.6 the Nisshin Oillio Group, Ltd.
     12.7 Axiom Foods
     12.8 Sotexpro S.A
     12.9 Wilmar International Limited
     12.10 Crespel & Deiters
     12.11 CHS Inc.
     12.12 Sόdzucker
     12.13 MGP Ingredients
     12.14 Puris
     12.15 Sonic Biochem Ltd.
     12.16 The Top Health Ingredients
     12.17 Emsland Group
     12.18 All Organic Treasures GmbH
     12.19 Cargill
     12.20 A&B Ingredients
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies. 

13 Appendix (Page No. - 180)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (108 Tables)

Table 1 USD Exchange Rates, 2014–2018
Table 2 Investments: Meat Substitute Ingredient Manufacturers
Table 3 List of Important Patents for Meat Substitutes, 2016–2019
Table 4 Meat Substitutes Market Size, By Product, 2017–2026 (USD Million)
Table 5 Market Size, By Product, 2017–2026 (Kt)
Table 6 Tofu: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 7 Tofu: Market Size, By Region, 2017–2026 (Kt)
Table 8 Tempeh: Meat Substitute Market Size, By Region, 2017–2026 (USD Thousand)
Table 9 Tempeh: Market Size, By Region, 2017–2026 (Kt)
Table 10 Seitan: Meat Substitute Market Size, By Region, 2017–2026 (USD Thousand)
Table 11 Seitan: Market Size, By Region, 2017–2026 (Tons)
Table 12 Quorn: Meat Substitutes Market Size, By Region, 2017–2026 (USD Thousand)
Table 13 Quorn: Market Size, By Region, 2017–2026 (Tons)
Table 14 Other Products: Meat Substitute Market Size, By Region, 2017–2026 (USD Thousand)
Table 15 Other Products: Market Size, By Region, 2017–2026 (Tons)
Table 16 Meat Substitute Market Size, By Source, 2017–2026 (USD Million)
Table 17 Market Size, By Source, 2017–2026 (Kt)
Table 18 Soy Protein: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 19 Soy Protein: Market Size, By Region, 2017–2026 (Kt)
Table 20 Wheat Protein: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 21 Wheat Protein: Market Size, By Region, 2017–2026 (Kt)
Table 22 Pea Protein: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 23 Pea Protein: Market Size, By Region, 2017–2026 (Kt)
Table 24 Other Sources: Meat Substitute Market Size, By Region, 2017–2026 (USD Million)
Table 25 Other Sources: Market Size, By Region, 2017–2026 (Tons)
Table 26 Meat Substitutes Market Size, By Type, 2017–2026 (USD Million)
Table 27 Market Size, By Type, 2017–2026 (Kt)
Table 28 Concentrates: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 29 Concentrates: Market Size, By Region, 2017–2026 (Kt)
Table 30 Isolates: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 31 Isolates: Market Size, By Region, 2017–2026 (Tons)
Table 32 Textured: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 33 Textured: Market Size, By Region, 2017–2026 (Kt)
Table 34 Meat Substitutes Market Size, By Form, 2017–2026 (USD Million)
Table 35 Solid: Meat Substitutes Market Size, By Region, 2017–2026 (USD Million)
Table 36 Liquid: Market Size, By Region, 2017–2026 (USD Million)
Table 37 Meat Substitute Market Size, By Region, 2017–2026 (USD Million)
Table 38 Market Size, By Region, 2017–2026 (Kt)
Table 39 North America: Meat Substitutes Market Size, By Country, 2017–2026 (USD Million)
Table 40 North America: Market Size, By Country, 2017–2026 (Kt)
Table 41 North America: Market Size, By Source, 2017–2026 (USD Million)
Table 42 North America: Market Size, By Source, 2017–2026 (Kt)
Table 43 North America: Market Size, By Type, 2017–2026 (USD Million)
Table 44 North America: Market Size, By Type, 2017–2026 (Kt)
Table 45 North America: Market Size, By Product, 2017–2026 (USD Million)
Table 46 North America: Market Size, By Product, 2017–2026 (Kt)
Table 47 North America: Market Size, By Form, 2017–2026 (USD Million)
Table 48 US: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 49 Canada: Market Size, By Source, 2017–2026 (USD Million)
Table 50 Mexico: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 51 Europe: Meat Substitutes Market Size, By Country, 2017–2026 (USD Million)
Table 52 Europe: Market Size, By Country, 2017–2026 (Kt)
Table 53 Europe: Market Size, By Product, 2017–2026 (USD Million))
Table 54 Europe: Market Size, By Product, 2017–2026 (Kt)
Table 55 Europe: Market Size, By Source, 2017–2026 (USD Million)
Table 56 Europe: Market Size, By Source, 2017–2026 (Kt)
Table 57 Europe: Market Size, By Type, 2017–2026 (USD Million)
Table 58 Europe: Market Size, By Type, 2017–2026 (Kt)
Table 59 Europe: Market Size, By Form, 2017–2026 (USD Million)
Table 60 Germany: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 61 UK: Market Size, By Source, 2017–2026 (USD Million)
Table 62 France: Market Size, By Source, 2017–2026 (USD Million)
Table 63 Italy: Market Size, By Source, 2017–2026 (USD Million)
Table 64 Spain: Meat Substitute Market Size, By Source, 2017–2026 (USD Million)
Table 65 Netherlands: Market Size, By Source, 2017–2026 (USD Million)
Table 66 Rest of Europe: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 67 Asia Pacific: Meat Substitutes Market Size, By Country, 2017–2026 (USD Million)
Table 68 Asia Pacific: Market Size, By Country, 2017–2026 (Kt)
Table 69 Asia Pacific: Market Size, By Product, 2017–2026 (USD Million)
Table 70 Asia Pacific: Market Size, By Product, 2017–2026 (Kt)
Table 71 Asia Pacific: Market Size, By Source, 2017–2026 (USD Million)
Table 72 Asia Pacific: Market Size, By Source, 2017–2026 (Kt)
Table 73 Asia Pacific: Market Size, By Type, 2017–2026 (USD Million)
Table 74 Asia Pacific: Market Size, By Type, 2017–2026 (Kt)
Table 75 Asia Pacific: Market Size, By Form, 2017–2026 (USD Million)
Table 76 China: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 77 Japan: Market Size, By Source, 2017–2026 (USD Million)
Table 78 Singapore: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 79 Australia & New Zealand: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 80 Rest of Asia Pacific: Meat Substitute Market Size, By Source, 2017–2026 (USD Million)
Table 81 South America: Meat Substitutes Market Size, By Country, 2017–2026 (USD Million)
Table 82 South America: Market Size, By Country, 2017–2026 (Kt)
Table 83 South America: Market Size, By Product, 2017–2026 (USD Million)
Table 84 South America: Market Size, By Product, 2017–2026 (Tons)
Table 85 South America: Market Size, By Source, 2017–2026 (USD Million)
Table 86 South America: Market Size, By Source, 2017–2026 (Kt)
Table 87 South America: Market Size, By Type, 2017–2026 (USD Million)
Table 88 South America: Market Size, By Type, 2017–2026 (Kt)
Table 89 South America: Market Size, By Form, 2017–2026 (USD Million)
Table 90 Brazil: Meat Substitutes Market Size, By Source, 2017–2026 (USD Million)
Table 91 Argentina: Meat Substitute Market Size, By Source, 2017–2026 (USD Thousand)
Table 92 Rest of South America: Meat Substitute Market Size, By Source, 2017–2026 (USD Thousand)
Table 93 Middle East & Africa: Meat Substitute Market Size, By Country, 2017–2026 (USD Million)
Table 94 Middle East & Africa: Market Size, By Country, 2017–2026 (Tons)
Table 95 Middle East & Africa: Market Size, By Product, 2017–2026 (USD Thousand)
Table 96 Middle East & Africa: Market Size, By Product, 2017–2026 (Tons)
Table 97 MEA: Meat Substitute Market Size, By Source, 2017–2026 (USD Million)
Table 98 MEA: Market Size, By Source, 2017–2026 (Tons)
Table 99 MEA: Market Size, By Type, 2017–2026 (USD Million)
Table 100 MEA: Market Size, By Type, 2017–2026 (Tons)
Table 101 MEA: Market Size, By Form, 2017–2026 (USD Million)
Table 102 UAE: Meat Substitute Market Size, By Source, 2017–2026 (USD Thousand)
Table 103 South Africa: Meat Substitutes Market Size, By Source, 2017–2026 (USD Thousand)
Table 104 Rest of Mea: Market Size, By Source, 2017–2026 (USD Thousand)
Table 105 Expansions & Investments, 2015-2019
Table 106 Acquisitions, 2015-2019
Table 107 Partnerships & Joint Ventures, 2012-2019
Table 108 New Product Launches, 2012-2019

List of Figures (46 Figures)

Figure 1 Market Segmentation
Figure 2 Research Design
Figure 3 Data Triangulation Methodology
Figure 4 The Tofu Segment, By Product, is Projected to Grow at the Highest Rate
Figure 5 Soy Protein Was the Major Source of Meat Substitutes Used Across the Globe in 2018
Figure 6 The Concentrates Segment, By Type, is Projected to Grow at the Highest Rate in the Market, By Value, During the Forecast Period
Figure 7 The Solid Segment, By Form, is Projected to Grow at the Highest Rate in the Meat Substitutes Market
Figure 8 Asia Pacific to Be the Fastest-Growing Region in the Market During the Forecast Period
Figure 9 Meat Substitutes: an Emerging Market With High-Growth Potential
Figure 10 North America to Dominate the Market From 2019 to 2026
Figure 11 The Pea Protein Segment, By Source, is Projected to Grow at the Highest Rate From 2019 to 2026
Figure 12 The Solid Segment is Projected to Account for the Largest Share From 2019 to 2026 (USD Million)
Figure 13 The Textured Protein Segment, By Type, Accounted for the Largest Share in the North American Meat Substitutes Market
Figure 14 Countries in Asia Pacific are Projected to Grow at High Rates During the Forecast Period
Figure 15 Meat Substitutes Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 UK: Vegan Population, 2014-2018
Figure 17 Obesity Among Adults, By Country (2015)
Figure 18 YC & YCC Shift for Meat Substitute Market
Figure 19 Plant-Based Meat: Supply Chain
Figure 20 Number of Patents Approved for Meat Substitutes, By Key Company, 2014–2019
Figure 21 Geographical Analysis: Patent Approval for Meat Substitutes, 2014–2019
Figure 22 Market Size, By Product, 2019 vs 2026 (USD Million)
Figure 23 Market Size, By Source, 2019 vs 2026 (USD Million)
Figure 24 Market Size, By Type, 2019 vs 2026 (USD Million)
Figure 25 Market Size, By Form, 2019 vs 2026 (USD Million)
Figure 26 The US Accounted for the Largest Market Share in the Global Market in 2018
Figure 27 North America: Plant-Based Meat Snapshot
Figure 28 Asia Pacific: Meat Substitutes Market Snapshot
Figure 29 Meat Substitutes Market: Competitive Leadership Mapping, 2018
Figure 30 Key Developments of the Leading Players in the Market, 2012–2019
Figure 31 Archer Daniels Midland Company: Company Snapshot
Figure 32 Archer Daniels Midland Company: SWOT Analysis
Figure 33 Dupont: Company Snapshot
Figure 34 Dupont: SWOT Analysis
Figure 35 Roquette Frθres: SWOT Analysis
Figure 36 Kerry: Company Snapshot
Figure 37 Kerry: SWOT Analysis
Figure 38 Ingredion: Company Snapshot
Figure 39 Ingredion: SWOT Analysis
Figure 40 The Nisshin OilliO Group,LTD. : Company Snapshot
Figure 41 Wilmar International Limited: Company Snapshot
Figure 42 CHS Inc.: Company Snapshot
Figure 43 Suedzucker: Company Snapshot
Figure 44 MGP Ingredients: Company Snapshot
Figure 45 Emsland Group: Company Snapshot
Figure 46 Cargill: Company Snapshot

The study involved four major activities for estimating the market size of meat substitutes. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Bloomberg BusinessWeek and Factiva, were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The market comprises several stakeholders, which include food product suppliers and manufacturers, food product importers and exporters, food product traders and distributors, government and research organizations, associations and industry bodies, World Health Organization (WHO), Food and Drug Administration (FDA), Global Food & Beverage Association (GFBA), National Food Safety and Quality Service (SENASA), Canadian Food Inspection Agency (CFIA), and Center for Professional Advancement (CfPA). Various primary sources from both the supply and demand sides of the meat substitutes market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand-side include research institutions, government agencies, food manufacturers, and meat substitute manufacturers. The primary sources from the supply side include meat substitutes manufacturers, raw material suppliers, and key opinion leaders.

Meat Substitutes Market Size, and Share

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

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the meat substitutes market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders such as CEOs, directors, and marketing executives.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. After the market was validated using both the top-down and bottom-up approaches, the data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To determine and forecast the size of the meat substitutes market, by type, by source, product, form, and region
  • To identify attractive opportunities in the meat substitutes market by determining the largest and fastest-growing segments across regions
  • To strategically analyze the demand-side factors based on the following:
    • Impact of macro- and microeconomic factors on the market
    • Shifts in demand patterns across different subsegments and regions
  • To identify the key drivers and restraints that have an impact on the global market
  • To strategically profile the key players and comprehensively analyze their market positions in terms of core competencies, along with detailing the competitive landscape for market leaders
  • To analyze strategic approaches such as acquisitions, expansions, investments, product launches & approvals, agreements, collaborations, and partnerships in the meat substitutes market
  • To provide insights on the key investments in product innovations and patent registrations
  • To analyze the supply chain and regulatory frameworks across regions and their impact on prominent market players

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports according to client-specific requirements. The available customization options are as follows:

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of Europe market into Russia, Denmark, Belgium, and Sweden
  • Further breakdown of the Rest of Asia Pacific market into India, Indonesia, Vietnam, and Thailand
  • Further breakdown of the South America meat substitutes market into Colombia and Chile
  • Further breakdown of the Middle East & Africa meat substitutes market into Saudi Arabia, Israel, and other African countries

Company Information

  • Detailed analyses and profiling of additional market players (Up to five)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Meat Substitutes Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Meat Substitutes Market

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FB 2515
Published ON
Jan, 2020
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