Meat Substitutes Market

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 - Global Forecast to 2027

Report Code: FB 2515 Sep, 2021, by marketsandmarkets.com

[233 Pages Reports] According to MarketsandMarkets, the global 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 rising health concerns and the changing consumer perception have fuelled the demand for meat substitute products. A healthy lifestyle, supported by the integration of plant-based alternatives, has become a popular notion among consumers who are increasingly open to the idea of plant-based products. Nowadays, consumers are extremely cautious about their health due to increased obesity cases and other diseases, such as cardiac diseases and diabetes. Hence, consumers are changing their food habits and are including healthy diet. The increasing awareness among consumers about the benefits of a vegan diet is one of the major factors propelling the demand for plant-sourced meat products worldwide. However, the rising market of cultured meat and insect protein may hamper the growth of the market.

Meat Substitutes Market

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Impact of COVID-19 on Meat Substitutes Market

Majority of the companies present in the food & beverage industry expect COVID-19 to impact their operations. Indeed, the sector's grim expectations become a reality amid plummeting raw material prices, supply chain bottlenecks, spending slowdowns, and jitters over the credit markets. Some major food & beverage companies have closed facilities and are mulling the extent of layoffs to help curb the spread of the virus, as well as for economic reasons. For example, the food & beverage manufacturing sector, which employs several workers in the US, is poised to be hit hard during this outbreak, primarily for two reasons: (i) many jobs are on-site and cannot be carried out remotely; (ii) the slowed economic activity has reduced the supply. Safeguarding consumer and workforce health is the priority among businesses and governments. Plant closures (full or partial) could continue to be necessary for manufacturers in hard-hit regions for a prolonged period. For companies vulnerable to a viral outbreak within their ranks, this would be a critical time to explore a proactive deployment of automation technologies (collaborative robotics, autonomous materials movement, and industrial internet of things) to decrease worker density throughout their operations.

Market Dynamics

Drivers: Increasing investments in plant-based protein ingredients

Innovations in plant-based proteins have had a positive influence on the development of meat substitute products. Manufacturers are infusing plant-based ingredients to produce meat alternatives, which has gained widespread acceptance among consumers. According to the European Regional Development Fund, 22% of UK consumers convey that they consume more protein from other sources rather than meat. For the millennials and iGeneration, the numbers have increased to 25%, indicating the high growth of the protein alternatives market in the country. This factor proves positive for this market and works in its favor due to the changing consumer preferences and the high adaptability rate among consumers. The increasing investments made by ingredient manufacturers are propelling market growth.

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 increased and has become a great concern for consumers and food manufacturers. According to the Food Allergy Research & Education organization (US), soy and wheat are two of the top eight major food allergens 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 expected 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: Emerging markets illustrate the great potential for meat substitutes

Developing countries, such as China and India, in the coming years, will experience a strong upsurge in demand for meat substitutes. This demand is driven by an increase in processed and convenience food production. Emerging economies, such as India and China, in Asia Pacific, are exhibiting high growth. Asia Pacific also provides a cost advantage in terms of production and processing. High demand, coupled with the low cost of production, is a key feature that will aid meat substitute suppliers and manufacturers target this market. Developing countries are experiencing busier lifestyles and changing food consumption patterns, leading to an increase in demand for processed, ready-to-cook, and ready-to-eat food, which is expected to push the demand for meat substitutes in these regions.

Challenges: Pricing pressure

Pea protein is relatively expensive compared to soy protein and wheat protein. Since soy is a well-established product and the availability of raw material is easy, manufacturers have increased their production capacities to reduce costs. However, pea protein, being in its introductory phase, has to overcome these challenges. Its manufacturers are looking to increase production capacities by using advanced technologies for pea protein extraction and processing. However, the less availability of pea protein is forcing food manufacturers to import pea, increasing the price of raw materials and eventually increasing the prices of the final meat substitute products. Due to this, pea protein-based meat substitute is considered a premium product in various countries.

By product, the tempeh segment is projected to account for the second-largest market share in the meat substitutes market during the forecast period

The tempeh segment is expected to grow at the highest CAGR over the forecast period. The demand for allulose has increased as it is a low-calorie sugar, which has same clean and sweet taste as tabletop sugar. Tempeh is a great source of protein and is also famous Indonesian dish. It has a cake-like consistency and is made from cooked and slightly fermented soybeans. The fermentation helps in breaking down the phytic acid in soybeans, which makes the starch in tempeh easier to digest. Though tempeh is highly perishable, in industrial production, it can be stored by drying and/or freezing. Tempeh is chewy and has a nutty and earthy taste. As tempeh is generally made from nuts, it is richer in calories, proteins, iron, potassium, and fibers. The demand for tempeh is increasing, as it is a low-cost product among other meat substitutes, which are rich in protein. Tempeh is firmer and grainy in texture than tofu.

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

Based on source, the pea protein segment is projected to be the fastest-growing segment in the global market. The rising awareness among consumers about the benefits offered by healthy food products and replacing meat meals with vegetarian diets have increased the demand for plant-based protein. Pea has been recognized as a major source of protein in recent times, and hence, it has been a preferred choice of meat substitutes for the manufacturers of meat substitutes.

By type, concentrates segment is projected to grow fastest in the meat substitute market during the forecast period

By type, the concentrates segment is anticipated to grow fastest over the forecast period. Concentrates, if added to a product, offer a high protein content and very low levels of calories. These concentrates are used as ingredients to enhance the volume and texture of different products.

By form, solid is projected to account for a larger share in the meat substitutes market during the forecast period

By form, the global market is segmented into solid and liquid. The solid form of protein sometimes resembles meat in terms of appearance and texture, which makes it a great meat substitute. The solid form of proteins has more shelf life as compared to the liquid form. Owing to this, it is highly preferred by manufacturers and consumers.

Meat Substitutes Market by Region

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Asia Pacific’s growth is attributed to the increasing awareness of healthy dietary habits among consumers. 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. The 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. 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. This makes the Asia Pacific region the fastest-growing potential market for meat substitutes.

Key Market Players:

Key players in this market include DuPont (US), ADM (US), Kerry Group (Ireland), Ingredion Incorporated (US), Roquette Frθres (France), PURIS (US), Cargill (US), Axiom Foods (US), MGP Ingredients (US), The Top Health Ingredients (Canada), Sonic Biochem Ltd (India), Crespel & Deiters (Germany), Wilmar International Limited (Singapore), Sotexpro S.A (France), The Nisshin OilliO Group, Ltd (Japan), and A&B Ingredients (Canada).

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Scope of the Report

Report Metric

Details

Market size estimation

2019–2027

Base year considered

2020

Forecast period considered

2021–2026

Units considered

Value (USD) and Volume (KT)

Segments covered

Product, source, type, form, and region

Regions covered

North America, Europe, Asia Pacific, South America and RoW

Companies studied

  • DuPont (US)
  • ADM (US)
  • Kerry Group (Ireland)
  • Ingredion Incorporated (US)
  • Roquette Frθres (France)
  • PURIS (US)
  • Cargill (US)
  • Axiom Foods (US)
  • Sonic Biochem Ltd (India)
  • Crespel & Deiters (Germany)
  • Wilmar International Limited (Singapore)
  • Sotexpro S.A (France)
  • The Nisshin OilliO Group, Ltd (Japan)
  • A&B Ingredients (Canada)
  • Batory Foods (US)
  • All Organic Treasures GMBH (Germany)
  • The Green Labs LLC (US)
  • Shandong Jianyuan Group (China)
  • ET Chem (China)
  • Beneo (Germany)

Target Audience:

  • Processed food & beverage manufacturers
  • Government and research organizations
  • Burger and patties manufacturers
  • Meat substitute distributors
  • Marketing directors
  • Key executives from various key companies and organizations in meat substitutes market

Report Scope:

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

By Product

  • Tofu
  • Tempeh
  • Seitan
  • Quorn
  • Other types (risofu, valess, and lupine)

By Source

  • Soy protein
  • Wheat protein
  • Pea protein
  • Other sources*

By Type

  • Isolates
  • Concentrates
  • Textured

By Form

  • Solid
  • Liquid

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Rest of the World (RoW)
  • Middle East
  • Africa

Recent Developments

  • In December 2020, Cargill expanded its plant protein product offering in Europe by introducing pea protein. This move will enable the European food and beverage manufacturers to meet the increasing demand for nutritious, plant-based products.
  • In March 2019, DuPont expanded its Danisco range that features soy protein and pea protein. It has launched six new plant protein nuggets from its SUPRO and TRUPRO product range. These products feature more protein or less sodium than previous offerings and deliver a crispy, crunchy texture.
  • In March 2019, Ingredion launched VITESSENCE Pulse 1803, an organic pea protein isolate, marking its move into the plant-based protein market.
  • In February 2019, Roquette Frθres expanded its range of NUTRALYS pea proteins by introducing a new ingredient, NUTRALYS L85M. The new product will enable its customers to create plant-based meat products with less salt.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 24)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           FIGURE 1 MARKET SEGMENTATION
           1.3.1 INCLUSIONS AND EXCLUSIONS
    1.4 REGIONS COVERED
    1.5 PERIODIZATION CONSIDERED
    1.6 CURRENCY CONSIDERED
           TABLE 1 USD EXCHANGE RATES CONSIDERED, 2017–2020
    1.7 VOLUME UNITS CONSIDERED
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH DATA
           FIGURE 2 RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key primary insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 APPROACH ONE – BOTTOM-UP (BASED ON SOURCES, BY REGION)
           2.2.2 APPROACH TWO – TOP-DOWN (BASED ON THE GLOBAL MARKET)
    2.3 DATA TRIANGULATION
           FIGURE 3 DATA TRIANGULATION METHODOLOGY
    2.4 ASSUMPTIONS FOR THE STUDY
    2.5 LIMITATIONS AND RISK ASSESSMENT OF THE STUDY
    2.6 MARKET SCENARIOS CONSIDERED FOR THE IMPACT OF COVID-19
           2.6.1 OPTIMISTIC SCENARIO
           2.6.2 REALISTIC & PESSIMISTIC SCENARIO
           2.6.3 SCENARIO-BASED MODELLING
    2.7 COVID-19 HEALTH ASSESSMENT
           FIGURE 4 COVID-19: GLOBAL PROPAGATION
           FIGURE 5 COVID-19 PROPAGATION: SELECT COUNTRIES
    2.8 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 6 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
           2.8.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
                    FIGURE 7 CRITERIA IMPACTING THE GLOBAL ECONOMY
                    FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY

3 EXECUTIVE SUMMARY (Page No. - 44)
    TABLE 2 MARKET SNAPSHOT, 2021 VS. 2027
    FIGURE 9 IMPACT OF COVID-19 ON THE MEAT SUBSTITUTES MARKET SIZE, BY SCENARIO, 2020 VS. 2021 (USD MILLION)
    FIGURE 10 MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021 VS. 2027 (USD MILLION)
    FIGURE 11 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021 VS. 2027 (USD MILLION)
    FIGURE 12 MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021 VS. 2027 (USD MILLION)
    FIGURE 13 MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021 VS. 2027 (USD MILLION)
    FIGURE 14 MARKET SHARE (VALUE), BY REGION, 2020

4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE GLOBAL MARKET
           FIGURE 15 INCREASING INVESTMENTS IN PLANT-BASED PROTEIN INGREDIENTS TO PROPEL THE MARKET
    4.2 NORTH AMERICA: MARKET FOR MEAT SUBSTITUTES, BY TYPE & COUNTRY
           FIGURE 16 TEXTURED SEGMENT AND THE UNITED STATES TO ACCOUNT FOR THE LARGEST SHARES IN THE NORTH AMERICAN MARKET IN 2020
    4.3 MARKET FOR MEAT SUBSTITUTES, BY PRODUCT
           FIGURE 17 TOFU SEGMENT TO DOMINATE THE MARKET DURING THE FORECAST PERIOD
    4.4 MARKET FOR MEAT SUBSTITUTES, BY SOURCE & REGION
           FIGURE 18 NORTH AMERICA TO DOMINATE THE MARKET DURING THE FORECAST PERIOD
    4.5 MARKET FOR MEAT SUBSTITUTES, BY TYPE
           FIGURE 19 TEXTURED SEGMENT TO DOMINATE THE MARKET DURING THE FORECAST PERIOD
    4.6 MARKET FOR MEAT SUBSTITUTES, BY FORM
           FIGURE 20 SOLID SEGMENT TO DOMINATE THE MARKET DURING THE FORECAST PERIOD
           FIGURE 21 COVID-19 IMPACT ON THE MEAT SUBSTITUTES MARKET: COMPARISON OF PRE- AND POST-COVID-19 SCENARIOS

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 22 MARKET FOR MEAT SUBSTITUTES: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           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
                               FIGURE 23 UNITED KINGDOM: VEGAN POPULATION, 2014–2018
                               FIGURE 24 FASTEST-GROWING TAKEAWAY CUISINES IN UNITED KINGDOM (2016–2019)
                               5.2.1.1.2 Increasing obesity globally
                               FIGURE 25 NUMBER OF OBESE POPULATION, BY COUNTRY, 2019
                    5.2.1.2 Increasing investments in plant-based protein ingredients
                               TABLE 3 INVESTMENTS: MEAT SUBSTITUTE INGREDIENT MANUFACTURERS
                    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 (Page No. - 63)
    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
                    FIGURE 26 VALUE CHAIN ANALYSIS OF THE MEAT SUBSTITUTES MARKET: RESEARCH & DEVELOPMENT AND RAW MATERIAL SOURCING ARE KEY CONTRIBUTORS
    6.3 SUPPLY CHAIN ANALYSIS
           FIGURE 27 SUPPLY CHAIN ANALYSIS OF THE MARKET FOR MEAT SUBSTITUTES
    6.4 TECHNOLOGY ANALYSIS
           6.4.1 EXTRUSION TECHNOLOGY
           6.4.2 EXTRUDABLE FAT TECHNOLOGY
    6.5 PRICING ANALYSIS: THE MEAT SUBSTITUTES MARKET
           TABLE 4 GLOBAL MEAT SUBSTITUTES AVERAGE SELLING PRICE (ASP), BY SOURCE, 2019–2021 (USD/TONS)
           TABLE 5 GLOBAL MEAT SUBSTITUTES AVERAGE SELLING PRICE (ASP), BY REGION, 2019–2021 (USD/TONS)
    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
                    TABLE 6 MARKET FOR MEAT SUBSTITUTES: SUPPLY CHAIN (ECOSYSTEM)
    6.7 TRENDS/DISRUPTIONS IMPACTING THE CUSTOMER’S BUSINESS
           FIGURE 28 YC-YCC SHIFT FOR THE MEAT SUBSTITUTES MARKET
    6.8 PATENT ANALYSIS
           FIGURE 29 NUMBER OF PATENTS GRANTED BETWEEN 2011 AND 2020
           FIGURE 30 TOP TEN INVESTORS WITH THE HIGHEST NUMBER OF PATENT DOCUMENTS
           FIGURE 31 TOP TEN APPLICANTS WITH THE HIGHEST NUMBER OF PATENT DOCUMENTS
           TABLE 7 SOME OF THE PATENTS PERTAINING TO MEAT ALTERNATIVES, 2020–2021
    6.9 TRADE ANALYSIS
           6.9.1 SOYA BEANS
                    TABLE 8 TOP TEN IMPORTERS AND EXPORTERS OF SOYA BEANS, 2020 (KT)
           6.9.2 WHEAT
                    TABLE 9 TOP TEN IMPORTERS AND EXPORTERS OF WHEAT, 2020 (KT)
           6.9.3 PEA
                    TABLE 10 TOP TEN IMPORTERS AND EXPORTERS OF PEA, 2020 (KT)
    6.10 PORTER’S FIVE FORCES ANALYSIS
           TABLE 11 MARKET FOR MEAT SUBSTITUTES: PORTER’S FIVE FORCES ANALYSIS
           6.10.1 DEGREE OF COMPETITION
           6.10.2 BARGAINING POWER OF SUPPLIERS
           6.10.3 BARGAINING POWER OF BUYERS
           6.10.4 THREAT OF SUBSTITUTES
           6.10.5 THREAT OF NEW ENTRANTS
    6.11 CASE STUDIES
           6.11.1 GROWING DEMAND FOR MEAT ALTERNATIVES
           6.11.2 INCREASING DEMAND FOR CLEAN LABEL PRODUCTS
    6.12 REGULATIONS
           6.12.1 INTRODUCTION
           6.12.2 REGULATIONS, BY COUNTRY/REGION
                    6.12.2.1 United States
                    6.12.2.2 Canada
                    6.12.2.3 Europe
                    6.12.2.4 India

7 MEAT SUBSTITUTES MARKET, BY PRODUCT (Page No. - 83)
    7.1 INTRODUCTION
           FIGURE 32 MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021 VS. 2027 (USD MILLION)
           TABLE 12 MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD MILLION)
           TABLE 13 MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD MILLION)
           7.1.1 COVID-19 IMPACT ON MEAT SUBSTITUTES MARKET, BY PRODUCT
                    7.1.1.1 Optimistic scenario
                               TABLE 14 OPTIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2019–2022 (USD MILLION)
                    7.1.1.2 Realistic scenario
                               TABLE 15 REALISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2019–2022 (USD MILLION)
                    7.1.1.3 Pessimistic scenario
                               TABLE 16 PESSIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2019–2022 (USD MILLION)
    7.2 TOFU
           7.2.1 TOFU HAS A MAJOR APPLICATION IN THE PRODUCTION OF PLANT-BASED BURGERS AND PATTIES
                    TABLE 17 TOFU: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 18 TOFU: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
    7.3 TEMPEH
           7.3.1 INCREASING AWARENESS RELATED TO THE HEALTH BENEFITS ASSOCIATED WITH FERMENTED FOOD PRODUCTS TO BOOST THE DEMAND FOR TEMPEH
                    TABLE 19 TEMPEH: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 20 TEMPEH: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
    7.4 SEITAN
           7.4.1 DENSE TEXTURE AND NEUTRAL FLAVOR MAKE SEITAN A POPULAR MEAT SUBSTITUTE
                    TABLE 21 SEITAN: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 22 SEITAN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
    7.5 QUORN
           7.5.1 VARIOUS HEALTH AND ENVIRONMENTAL BENEFITS PROVIDED BY QUORN TO DRIVE ITS DEMAND FOR MEAT SUBSTITUTES
                    TABLE 23 QUORN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 24 QUORN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD THOUSAND)
    7.6 OTHER PRODUCTS
           7.6.1 VARIOUS HEALTH-RELATED BENEFITS OFFERED BY MEAT SUBSTITUTE PRODUCTS TO DRIVE THEIR DEMAND
                    TABLE 25 OTHER PRODUCTS: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 26 OTHER PRODUCTS: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)

8 MEAT SUBSTITUTES MARKET, BY SOURCE (Page No. - 93)
    8.1 INTRODUCTION
           FIGURE 33 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021 VS. 2027 (USD MILLION)
           TABLE 27 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
           TABLE 28 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
           TABLE 29 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (KT)
           TABLE 30 MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (KT)
           8.1.1 COVID-19 IMPACT ON MEAT SUBSTITUTES MARKET, BY SOURCE
                    8.1.1.1 Optimistic scenario
                               TABLE 31 OPTIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2019–2022 (USD MILLION)
                    8.1.1.2 Realistic scenario
                               TABLE 32 REALISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2019–2022 (USD MILLION)
                    8.1.1.3 Pessimistic scenario
                               TABLE 33 PESSIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2019–2022 (USD MILLION)
    8.2 SOY PROTEIN
           8.2.1 SOY PROTEIN IS PREFERRED BY MANUFACTURERS AS IT IMPARTS SIMILAR TEXTURE TO MEAT SUBSTITUTES AS TRADITIONAL MEAT
                    TABLE 34 SOY PROTEIN: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 35 SOY PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
                    TABLE 36 SOY PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (KT)
                    TABLE 37 SOY PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (KT)
    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
                    TABLE 38 WHEAT PROTEIN: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 39 WHEAT PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
                    TABLE 40 WHEAT PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (KT)
                    TABLE 41 WHEAT PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (KT)
    8.4 PEA PROTEIN
           8.4.1 RISING INVESTMENT BY MANUFACTURERS TO BOOST THE DEMAND FOR PEA PROTEIN
                    TABLE 42 PEA PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 43 PEA PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
                    TABLE 44 PEA PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (KT)
                    TABLE 45 PEA PROTEIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (KT)
    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
                    TABLE 46 OTHER SOURCES: MEAT SUBSTITUTE MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 47 OTHER SOURCES: MEAT SUBSTITUTE MARKET SIZE, BY REGION, 2021–2027 (USD MILLION)
                    TABLE 48 OTHER SOURCES: MEAT SUBSTITUTE MARKET SIZE, BY REGION, 2017–2020 (TONS)
                    TABLE 49 OTHER SOURCES: MEAT SUBSTITUTE MARKET SIZE, BY REGION, 2021–2027 (TONS)

9 MEAT SUBSTITUTES MARKET, BY TYPE (Page No. - 106)
    9.1 INTRODUCTION
           FIGURE 34 MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021 VS. 2027 (USD MILLION)
           TABLE 50 MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 51 MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
           9.1.1 COVID-19 IMPACT ON THE MEAT SUBSTITUTES MARKET, BY TYPE
                    9.1.1.1 Optimistic scenario
                               TABLE 52 OPTIMISTIC SCENARIO: MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2019–2022 (USD MILLION)
                    9.1.1.2 Realistic scenario
                               TABLE 53 REALISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2019–2022 (USD MILLION)
                    9.1.1.3 Pessimistic scenario
                               TABLE 54 PESSIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2019–2022 (USD MILLION)
    9.2 CONCENTRATES
           9.2.1 LOWER PRICE OF CONCENTRATES TO BOOST ITS DEMAND IN THE MARKET
                    TABLE 55 CONCENTRATES: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 56 CONCENTRATES: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
    9.3 ISOLATES
           9.3.1 ISOLATES ARE THE PUREST FORM OF PROTEIN AND A TYPE WITH THE HIGHEST AMOUNT OF PROTEIN
                    TABLE 57 ISOLATES: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 58 ISOLATES: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
    9.4 TEXTURED
           9.4.1 TEXTURED PROTEIN TO WITNESS HIGH GROWTH DUE TO ITS RESEMBLANCE WITH CONVENTIONAL MEAT IN TERMS OF TEXTURE
                    TABLE 59 TEXTURED: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 60 TEXTURED: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)

10 MEAT SUBSTITUTES MARKET, BY FORM (Page No. - 114)
     10.1 INTRODUCTION
               FIGURE 35 MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021 VS. 2027 (USD MILLION)
               TABLE 61 MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 62 MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
             10.1.1 COVID-19 IMPACT ON THE MEAT SUBSTITUTES MARKET, BY FORM
                       10.1.1.1 Optimistic scenario
                                   TABLE 63 OPTIMISTIC SCENARIO: MEAT SUBSTITUTES MARKET SIZE, BY FORM, 2019–2022 (USD MILLION)
                       10.1.1.2 Realistic scenario
                                   TABLE 64 REALISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2019–2022 (USD MILLION)
                       10.1.1.3 Pessimistic scenario
                                   TABLE 65 PESSIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2019–2022 (USD MILLION)
     10.2 SOLID
             10.2.1 SOLID FORM OF PROTEINS IS PREFERRED BECAUSE IT IS EASIER TO STORE AND HANDLE
                       TABLE 66 SOLID: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 67 SOLID: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
     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
                       TABLE 68 LIQUID: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 69 LIQUID: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)

11 MEAT SUBSTITUTES MARKET, BY CATEGORY (Page No. - 120)
     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 (Page No. - 122)
     12.1 INTRODUCTION
               FIGURE 36 REGIONAL SNAPSHOT: GERMANY AND SINGAPORE TO ACCOUNT FOR THE HIGHEST CAGR IN THE MEAT SUBSTITUTES MARKET IN 2020
               TABLE 70 MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (USD MILLION)
               TABLE 71 MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (USD MILLION)
               TABLE 72 MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2017–2020 (KT)
               TABLE 73 MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2021–2027 (KT)
     12.2 COVID-19 IMPACT ON THE MEAT SUBSTITUTES MARKET, BY REGION
             12.2.1 OPTIMISTIC SCENARIO
                       TABLE 74 OPTIMISTIC SCENARIO: MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
             12.2.2 REALISTIC SCENARIO
                       TABLE 75 REALISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2019–2022 (USD MILLION)
             12.2.3 PESSIMISTIC SCENARIO
                       TABLE 76 PESSIMISTIC SCENARIO: MARKET SIZE FOR MEAT SUBSTITUTES, BY REGION, 2019–2022 (USD MILLION)
     12.3 NORTH AMERICA
               FIGURE 37 NORTH AMERICA: MEAT SUBSTITUTES MARKET SNAPSHOT
               TABLE 77 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 78 NORTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
               TABLE 79 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
               TABLE 80 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
               TABLE 81 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (KT)
               TABLE 82 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (KT)
               TABLE 83 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD MILLION)
               TABLE 84 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD MILLION)
               TABLE 85 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 86 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
               TABLE 87 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
               TABLE 88 NORTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
             12.3.1 UNITED STATES
                       12.3.1.1 Shift of focus to pea protein by key players
                       12.3.1.2 Increasing veganism in the country
                                   TABLE 89 UNITED STATES: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 90 UNITED STATES: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.3.2 CANADA
                       12.3.2.1 High-growth potential with supporting government initiatives
                       12.3.2.2 Consumer shift toward plant-based protein products
                                   TABLE 91 CANADA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 92 CANADA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.3.3 MEXICO
                       12.3.3.1 An untapped market owing to the high prices of plant-based protein in the country
                                   TABLE 93 MEXICO: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 94 MEXICO: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
     12.4 EUROPE
               TABLE 95 EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 96 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY COUNTRY, 2021–2027 (USD MILLION)
               TABLE 97 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
               TABLE 98 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
               TABLE 99 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (KT)
               TABLE 100 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (KT)
               TABLE 101 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD MILLION)
               TABLE 102 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD MILLION)
               TABLE 103 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 104 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
               TABLE 105 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
               TABLE 106 EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
             12.4.1 GERMANY
                       12.4.1.1 Rising trend of veganism and government support for the meat alternatives market to drive the market growth
                                   TABLE 107 GERMANY: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 108 GERMANY: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.2 UNITED KINGDOM
                       12.4.2.1 Entry of major players in the global market to attract consumers
                                   TABLE 109 UNITED KINGDOM: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 110 UNITED KINGDOM: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.3 FRANCE
                       12.4.3.1 Awareness about the drawbacks of animal-based meat to shift the inclination of consumers toward plant-based meat
                                   TABLE 111 FRANCE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 112 FRANCE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.4 ITALY
                       12.4.4.1 Entry of key players in the Italian vegan market to drive the growth of meat substitutes
                                   TABLE 113 ITALY: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 114 ITALY: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.5 SPAIN
                       12.4.5.1 Production and promotion of plant-based meat by numerous companies to drive the growth of the meat substitutes market
                                   TABLE 115 SPAIN: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 116 SPAIN: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.6 NETHERLANDS
                       12.4.6.1 Market for meat substitutes in the country at an extremely nascent stage
                                   TABLE 117 NETHERLANDS: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 118 NETHERLANDS: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.4.7 REST OF EUROPE
                       TABLE 119 REST OF EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                       TABLE 120 REST OF EUROPE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
     12.5 ASIA PACIFIC
               FIGURE 38 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SNAPSHOT
               TABLE 121 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 122 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY COUNTRY, 2021–2027 (USD MILLION)
               TABLE 123 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
               TABLE 124 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
               TABLE 125 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (KT)
               TABLE 126 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (KT)
               TABLE 127 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD MILLION)
               TABLE 128 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD MILLION)
               TABLE 129 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 130 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
               TABLE 131 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
               TABLE 132 ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
             12.5.1 CHINA
                       12.5.1.1 Relatively fragmented market with multiple startups developing generic plant proteins
                                   TABLE 133 CHINA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 134 CHINA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2021–2027 (USD MILLION)
             12.5.2 JAPAN
                       12.5.2.1 Inclination of Japanese consumers toward cultured meat products
                                   TABLE 135 JAPAN: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 136 JAPAN: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.5.3 SINGAPORE
                       12.5.3.1 Key players entering the market as consumers accepted meat substitute products
                                   TABLE 137 SINGAPORE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 138 SINGAPORE: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.5.4 AUSTRALIA & NEW ZEALAND
                       12.5.4.1 Health benefits offered by vegan meat attract consumers
                                   TABLE 139 AUSTRALIA & NEW ZEALAND: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD THOUSAND)
                                   TABLE 140 AUSTRALIA & NEW ZEALAND: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD THOUSAND)
             12.5.5 REST OF ASIA PACIFIC
                       TABLE 141 REST OF ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                       TABLE 142 REST OF ASIA PACIFIC: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
     12.6 SOUTH AMERICA
               TABLE 143 SOUTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 144 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY COUNTRY, 2021–2027 (USD MILLION)
               TABLE 145 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
               TABLE 146 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
               TABLE 147 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (KT)
               TABLE 148 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (KT)
               TABLE 149 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD MILLION)
               TABLE 150 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD MILLION)
               TABLE 151 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 152 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
               TABLE 153 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
               TABLE 154 SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
             12.6.1 BRAZIL
                       12.6.1.1 Increasing investments in plant-based meat by key players to remain high in this market
                       12.6.1.2 Rising consumer preference for plant-based proteins
                                   TABLE 155 BRAZIL: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 156 BRAZIL: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.6.2 ARGENTINA
                       12.6.2.1 Argentina to offer growth opportunities for meat alternative manufacturers
                                   TABLE 157 ARGENTINA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD THOUSAND)
                                   TABLE 158 ARGENTINA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD THOUSAND)
             12.6.3 REST OF SOUTH AMERICA
                       TABLE 159 REST OF SOUTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD THOUSAND)
                       TABLE 160 REST OF SOUTH AMERICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD THOUSAND)
     12.7 REST OF THE WORLD
               TABLE 161 ROW: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
               TABLE 162 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY COUNTRY, 2021–2027 (USD MILLION)
               TABLE 163 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (USD MILLION)
               TABLE 164 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
               TABLE 165 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2017–2020 (TON)
               TABLE 166 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (TON)
               TABLE 167 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2017–2020 (USD THOUSAND)
               TABLE 168 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY PRODUCT, 2021–2027 (USD THOUSAND)
               TABLE 169 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2017–2020 (USD MILLION)
               TABLE 170 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY FORM, 2021–2027 (USD MILLION)
               TABLE 171 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2017–2020 (USD MILLION)
               TABLE 172 ROW: MARKET SIZE FOR MEAT SUBSTITUTES, BY TYPE, 2021–2027 (USD MILLION)
             12.7.1 UNITED ARAB EMIRATES
                       12.7.1.1 Increasing industrialization to lead to growth in the food industry
                                   TABLE 173 UNITED ARAB EMIRATES: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD THOUSAND)
                                   TABLE 174 UNITED ARAB EMIRATES: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD THOUSAND)
             12.7.2 SOUTH AFRICA
                       12.7.2.1 Introduction of affordable range of plant-based meat products by key players in South Africa
                                   TABLE 175 SOUTH AFRICA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD MILLION)
                                   TABLE 176 SOUTH AFRICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD MILLION)
             12.7.3 REST OF MIDDLE EAST & AFRICA
                       TABLE 177 REST OF MIDDLE EAST & AFRICA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2017–2020 (USD THOUSAND)
                       TABLE 178 REST OF MIDDLE EAST & AFRICA: MARKET SIZE FOR MEAT SUBSTITUTES, BY SOURCE, 2021–2027 (USD THOUSAND)

13 COMPETITIVE LANDSCAPE (Page No. - 174)
     13.1 OVERVIEW
     13.2 MARKET SHARE ANALYSIS, 2020
               TABLE 179 MARKET SHARE ANALYSIS, 2020
     13.3 REVENUE ANALYSIS OF KEY PLAYERS
               FIGURE 39 REVENUE ANALYSIS OF KEY PLAYERS IN THE MARKET, 2018–2020 (USD BILLION)
     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
                       FIGURE 40 MEAT SUBSTITUTES MARKET, COMPANY EVALUATION QUADRANT, 2020 (OVERALL MARKET)
             13.5.5 PRODUCT FOOTPRINT
                       TABLE 180 COMPANY FOOTPRINT, BY TYPE
                       TABLE 181 COMPANY FOOTPRINT, BY SOURCE
                       TABLE 182 COMPANY REGIONAL, BY FOOTPRINT
                       TABLE 183 OVERALL COMPANY FOOTPRINT
     13.6 MARKET FOR MEAT SUBSTITUTES, 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
                       FIGURE 41 MEAT SUBSTITUTES MARKET: COMPANY EVALUATION QUADRANT, 2020 (START-UP/SMES)
     13.7 COMPETITIVE SCENARIO
             13.7.1 NEW PRODUCT LAUNCHES
                       TABLE 184 MEAT SUBSTITUTES MARKET: NEW PRODUCT LAUNCHES, 2019–2021
             13.7.2 DEALS
                       TABLE 185 MARKET FOR MEAT SUBSTITUTES: DEALS, 2019–2021
             13.7.3 EXPANSIONS AND INVESTMENTS
                       TABLE 186 MEAT SUBSTITUTES MARKET: EXPANSIONS, 2018–2020

14 COMPANY PROFILES (Page No. - 185)
     14.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)*
             14.1.1 INGREDION INCORPORATED
                       TABLE 187 INGREDION INCORPORATED: BUSINESS OVERVIEW
                       FIGURE 42 INGREDION INCORPORATED: COMPANY SNAPSHOT
                       TABLE 188 INGREDION INCORPORATED: PRODUCTS OFFERED
                       TABLE 189 INGREDION INCORPORATED: NEW PRODUCT LAUNCHES
                       TABLE 190 INGREDION INCORPORATED: DEALS
                       TABLE 191 INGREDION INCORPORATED: OTHERS
             14.1.2 ADM
                       TABLE 192 ADM: BUSINESS OVERVIEW
                       FIGURE 43 ADM: COMPANY SNAPSHOT
                       TABLE 193 ADM: PRODUCTS OFFERED
                       TABLE 194 ADM: DEALS
                       TABLE 195 ADM: OTHERS
             14.1.3 DUPONT
                       TABLE 196 DUPONT: BUSINESS OVERVIEW
                       FIGURE 44 DUPONT: COMPANY SNAPSHOT
                       TABLE 197 DUPONT: PRODUCTS OFFERED
                       TABLE 198 DUPONT: NEW PRODUCT LAUNCHES
             14.1.4 KERRY GROUP
                       TABLE 199 KERRY GROUP: BUSINESS OVERVIEW
                       FIGURE 45 KERRY GROUP: COMPANY SNAPSHOT
                       TABLE 200 KERRY GROUP: PRODUCTS OFFERED
                       TABLE 201 KERRY GROUP: DEALS
             14.1.5 ROQUETTE FRΘRES
                       TABLE 202 ROQUETTE FRΘRES: BUSINESS OVERVIEW
                       TABLE 203 ROQUETTE FRΘRES: PRODUCTS OFFERED
                       TABLE 204 ROQUETTE FRΘRES: NEW PRODUCT LAUNCHES
             14.1.6 THE NISSHIN OILLIO GROUP, LTD.
                       TABLE 205 THE NISSHIN OILLIO GROUP, LTD.: BUSINESS OVERVIEW
                       FIGURE 46 THE NISSHIN OILLIO GROUP, LTD.: COMPANY SNAPSHOT
                       TABLE 206 THE NISSHIN OILLIO GROUP, LTD.: PRODUCTS OFFERED
             14.1.7 CARGILL
                       TABLE 207 CARGILL: BUSINESS OVERVIEW
                       FIGURE 47 CARGILL: COMPANY SNAPSHOT
                       TABLE 208 CARGILL: PRODUCTS OFFERED
                       TABLE 209 CARGILL: NEW PRODUCT LAUNCHES
                       TABLE 210 CARGILL: OTHERS
             14.1.8 BATORY FOODS
                       TABLE 211 BATORY FOODS: BUSINESS OVERVIEW
                       TABLE 212 BATORY FOODS: PRODUCTS OFFERED
                       TABLE 213 BATORY FOODS: DEALS
             14.1.9 WILMAR INTERNATIONAL LIMITED
                       TABLE 214 WILMAR INTERNATIONAL LIMITED: BUSINESS OVERVIEW
                       FIGURE 48 WILMAR INTERNATIONAL LIMITED: COMPANY SNAPSHOT
                       TABLE 215 WILMAR INTERNATIONAL LIMITED: PRODUCTS OFFERED
                       TABLE 216 WILMAR INTERNATIONAL LIMITED: OTHERS
               14.1.10 CRESPEL & DEITERS
                                   TABLE 217 CRESPEL & DEITERS: BUSINESS OVERVIEW
                                   TABLE 218 CRESPEL & DEITERS: PRODUCTS OFFERED
     14.2 START-UPS/SMES
             14.2.1 A&B INGREDIENTS
                       TABLE 219 A&B INGREDIENTS: BUSINESS OVERVIEW
                       TABLE 220 A&B INGREDIENTS: PRODUCTS OFFERED
             14.2.2 ALL ORGANIC TREASURES GMBH
                       TABLE 221 ALL ORGANIC TREASURES GMBH: BUSINESS OVERVIEW
                       TABLE 222 ALL ORGANIC TREASURES GMBH: PRODUCTS OFFERED
             14.2.3 SONIC BIOCHEM LTD.
                       TABLE 223 SONIC BIOCHEM LTD.: BUSINESS OVERVIEW
                       TABLE 224 SONIC BIOCHEM LTD.: PRODUCTS OFFERED
             14.2.4 PURIS
                       TABLE 225 PURIS: BUSINESS OVERVIEW
                       TABLE 226 PURIS: PRODUCTS OFFERED
             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

Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

15 ADJACENT AND RELATED MARKETS (Page No. - 221)
     15.1 INTRODUCTION
               TABLE 227 ADJACENT MARKETS TO MEAT SUBSTITUTES
     15.2 LIMITATIONS
     15.3 DAIRY ALTERNATIVES MARKET
             15.3.1 MARKET DEFINITION
             15.3.2 MARKET OVERVIEW
                       TABLE 228 DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     15.4 PLANT-BASED MEAT MARKET
             15.4.1 MARKET DEFINITION
             15.4.2 MARKET OVERVIEW
                       TABLE 229 PLANT-BASED MEAT MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)

16 APPENDIX (Page No. - 224)
     16.1 DISCUSSION GUIDE
     16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     16.3 AVAILABLE CUSTOMIZATIONS
     16.4 RELATED REPORTS
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The study involved four major activities in estimating meat substitutes market size. 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, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, 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, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of processed food & beverage manufacturers and government & research organizations. The supply side is characterized by the presence of meat substitute product manufacturer, distributors, marketing directors, research officers and quality control officers, and key executives from various key companies and organizations operating in meat substitute market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Given below is the breakdown of the primary respondents.

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 global market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size include the following:

  • The key players were identified through extensive primary and secondary research.
  • The value chain and market size of meat substitutes market, in terms of value and volume, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market 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.
  • The research included the study of reports, reviews, newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.

Data Triangulation

After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points matches, the data is assumed to be correct.

Report Objectives

  • To describe and forecast meat substitutes market, in terms of product, source, type, form, and region
  • To describe and forecast meat substitutes market, in terms of value, by region–North America, Europe, Asia Pacific, South America, and the Rest of the World—along with their respective countries
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of meat substitutes market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of meat substitutes market
  • To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
  • To analyze strategic approaches, such as expansions & investments, product launches & approvals, mergers & acquisitions, and agreements in this market

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 gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the Rest of Asia Pacific meat substitutes market, by key country
  • Further breakdown of the Rest of European meat substitutes market, by key country

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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Report Code
FB 2515
Published ON
Sep, 2021
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