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Meat Substitutes Market | Covid-19 Impact Analysis
The Meat Substitutes Market is Segmented by Source Type (Soy Protein, Wheat Protein, Pea Protein, and Others), by Product Type (Tofu, Tempeh, Seitan, Quorn, and Others), by Type (Concentrates, Isolates, and Textured), by Form Type (Solid, Liquid), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Meat substitutes market is likely to witness a steady CAGR of 11.8% during the forecast period. The market for meat substitutes is driven by the surge in demand for plant-based meat products majorly among the millennials, globally.
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Meat Substitutes Market - Snapshot |
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Growth |
11.8% for the next five years |
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Largest Product Type |
Soy Protein |
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Fastest-Growing Type |
Concentrates |
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Major Form Type |
Solid |
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Fastest Growing Region |
Asia-Pacific |
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Archer Daniels Midland Company, DuPont, Roquette Frères, Kerry (Ir, Ingredion, Sotexpro S.A, CRESPEL & DEITER, CHS INC., Suedzucker, MGP and Ingredient. |
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Based on the product type, the meat substitutes market is segmented as soy protein, wheat protein, pea protein, and others. The soy protein segment is expected to be the largest segment, during the forecast period, due to the high demand for soy-based meat alternative products, such as pork, beef, and chicken, on account of their high protein content.
Based on the type, the meat substitutes market is segmented as concentrates, isolates, and textured. The concentrates segment is expected to be the fastest-growing segment due to its low price and high protein content.
Based on the form type, the market is segmented as solid and liquid. The solid segment is expected to remain the larger segment of the market during the forecast period owing to its ability to preserve flavor and color of food products.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing meat substitutes market during the forecast period. Awareness for animal welfare, health benefits, cost affordability, and growing variety of meat substitute products are driving the meat substitutes market in the region with China and India as the growth engines.
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Some of the major players in the meat substitutes market are-
Growing concerns for animal welfare, awareness towards health, and environment safety have motivated humans to avoid animal meat. This has led to the increasing demand for meat substitutes. These are the food items that contain protein and nutrients equivalent to animal meat.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Meat Substitutes Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
24 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The meat substitutes market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The meat substitutes market is expected to witness an impressive growth of 11.8% CAGR in the foreseeable future.
Archer Daniels Midland Company, DuPont, Roquette Frères, Kerry (Ir, Ingredion, Sotexpro S.A, CRESPEL & DEITER, CHS INC., Suedzucker, MGP and Ingredient are among the key players in the meat substitutes market.
Asia-pacific is expected to be the fastest growing meat substitutes market during the next five years.
The soy protein segment is expected to be the largest meat substitutes market in the coming years.
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