Market Insights
The meat substitutes market was estimated at USD 2.37 billion in 2022 and is likely to grow at a CAGR of 12.91% during 2023-2028 to reach USD 4.9 billion in 2028.

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What is a meat substitute?
A meat substitute, also known as a meat alternative or mock meat, is a food product that is designed to replace the taste, texture, and nutritional profile of the meat. It is typically made from plant-based ingredients or other non-meat sources and can be used instead of meat.
The health benefits associated with these ingredients are almost similar to real meat, and this is a significant factor behind the rising demand for meat substitutes.
COVID-19 IMPACT
There was a spike in the sales of meat substitutes in 2020, increasing sales as compared to 2019. The disruption in the supply chain of the meat market due to the Covid-19 pandemic positively impacted the meat substitutes market. Hence notable growth in the market was observed in the year 2020.
Meat Substitutes Market Highlights
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Market Size in 2022
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USD 2.37 billion
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Market Size in 2028
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USD 4.9 billion
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Market Growth (2023-2028)
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12.91% CAGR
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Base Year of Study
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2022
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Trend Period
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2017-2021
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Forecast Period
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2023-2028
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Market Dynamics
The major factors driving the growth of the market are-
Surging Demand for Plant-derived Proteins: Over the past decade, there has been a remarkable upswing in the global market for protein derived from plants. Traditionally, a significant portion of the population in Europe and North America relied heavily on meat-based protein for their daily nutritional requirements. However, the abundant cholesterol content in meat proteins, known to be associated with various health concerns, has prompted a shift in consumer preferences. This shift has been particularly pronounced in industrialized nations like the United States, Germany, France, and the United Kingdom, where there has been a substantial increase in the adoption of plant-based protein foods. Notably, regions such as the US and the UK have witnessed a noteworthy rise in the number of vegans, with an astonishing 600% increase in the US vegan population in the past three years, as reported by the Food Revolution Organization in 2018. This growing inclination towards plant-based proteins is poised to drive the expansion of the meat substitutes market.
According to the Good Food Institute, the percentage of American families purchasing plant-based meat increased from 10.5% in the previous year to 11.9% in 2019. Furthermore, in December 2021, Next Meats, a Tokyo-based company, joined forces with Vegan Meat India to introduce meat-free products in the country. This diverse range of offerings not only provides consumers with a wider array of options and innovative flavors but also ensures the fulfillment of their dietary requirements.
Revolutionary Technological Innovations Enhance Plant-based Protein Opportunities: The continuous advancements in extrusion and processing technologies are poised to revolutionize the landscape of the meat substitute market. The pivotal role played by processing becomes evident as it involves the extraction of essential plant-based proteins like pea protein, soy protein, and wheat protein. Conventional dry extraction techniques typically yield protein flour with protein content ranging from 20% to 40% and concentrates with protein content ranging from 46% to 60%. However, the introduction of novel extrudable fat technology, acquired from Coasun, has unlocked new possibilities. This groundbreaking technology replicates animal fat, enabling the creation of more authentic fat textures, including marbling, in plant-based meats. By running fat through an extruder and skilfully combining it with protein, this innovative approach results in a superior ingredient where the fat and protein are seamlessly integrated. Additionally, the adoption of Prolamin technology, licensed from the University of Guelph, has revolutionized plant-based meat production. This technology harnesses plant-based ingredients to enhance the texture of plant-based cheese, allowing it to melt, bubble, and stretch akin to its animal-derived dairy counterparts.
Transformative Health and Environmental Impact of Plant-based Protein Consumption: The consumption of red meat has long been associated with a multitude of health disorders. Extensive research conducted by the Harvard School of Public Health in September 2019 highlights the increased risk of diabetes, cardiovascular diseases, cancers, and other serious illnesses among consumers of red meat. Consequently, health-conscious individuals are increasingly replacing red meat with plant-based protein alternatives like tofu, tempeh, seitan, and defatted soy chunks, among other meat-like protein products. Such dietary shifts are anticipated to significantly reduce the risk of obesity and various health ailments while simultaneously enhancing the overall quality of life for consumers.

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Segment Analysis
By Source Type
Based on the source type, the 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.
By Type
Based on the type, the 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.
By Form Type
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 the flavor and color of food products.
Regional Insights
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market during the forecast period. Awareness for animal welfare, health benefits, cost affordability, and a growing variety of meat substitute products are driving the market in the region with China and India as the growth engines.

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Market Segmentation
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.
The market is segmented into the following categories.
By Source Type
- Soy Protein
- Wheat Protein
- Pea Protein
- Others
By Type
- Concentrates
- Isolates
- Textured
By Form Type
By Product Type
- Tofu
- Tempeh
- Seitan
- Quorn
- Others
By Region
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players
Some of the major players in the market are-
- Archer Daniels Midland Company
- DuPont
- Roquette Frères
- Kerry
- Ingredion
- Sotexpro S.A
- CRESPEL & DEITER
- CHS INC.
- Suedzucker
- MGP
- Ingredient.
Recent Developments
In June 2022- The Kellogg Company revealed its strategic plan to undergo a split into three distinct entities. Notably, one of these entities will focus on the company's plant-based meat product offerings and will assume ownership of the renowned MorningStar Farms brand.
In June 2022- The company expanded the distribution of its Cookout Classic product, making it available in over 10,000 stores across the nation. Esteemed retailers such as Giant Food, Hannaford, Publix, ShopRite, Sprouts, Stop & Shop, Wegmans, and Whole Foods Market, as well as select Albertsons, Kroger, Target, and Walmart locations now feature this sought-after item.
In May 2022- Beyond Meat made waves in the industry by enlisting Kim Kardashian as the esteemed professional tastemaker for its captivating new campaign, effectively capturing the attention of a wider audience.
Research Methodology
This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, 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 qualitative and quantitative insights.
Report Features
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.
What Deliverables Will You Get in this Report?
Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Meat Substitutes Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market segment analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the types by source type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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