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Global Meat Substitute Market: By Source: Soy Based, Wheat Based, Pea Protein; By Product: Tofu, Tempeh, Seitan, Quorn; By Type: Concentrates, Isolates, Textured; Regional Analysis; Historical Market and Forecast (2018-2028); Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Meat Substitute Market Outlook

The global meat substitute market attained USD 16.2 billion in 2020. The market is expected to grow at a CAGR of 16% in the forecast period of 2023-2028 to attain USD 40 billion by 2026.

 

Global Meat Substitute Market

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Health-Conscious Consumers to Aid the Market Growth of Meat Substitute

The meat substitute industry is being driven by health-conscious consumers across the globe. Europe and North America's population has been highly dependent on meat products for necessary protein requirements over the past decade. However, currently, they have shifted towards meat substitutes due to the awareness of meat-based proteins with cholesterol content, which is harmful to their health. Due to this shift, many developed countries, like Germany, the United States, France, and the United Kingdom, have started consuming meat substitutes. Thereby fuelling the market growth of meat substitute.

The companies of the meat substitute industry, with the use of modified technologies, are innovating new products with similar properties as real meat. These are made with a blend of soy, wheat, and pea protein to achieve the desired structure. In the Asia Pacific region, which is gradually adopting western cuisine, the demand for meat substitute is rising, consequently aiding the market growth of meat substitute.

 

Meat Substitute: Market Segmentation

Meat substitute refers to a meat-like substance, which is made from plants. Meat substitute is commonly known by terms like plant-based meat, vegan meat, imitation meat, vegetarian meat, mock meat, or meat alternative.

 

Global Meat Substitute Market By type

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On the basis of source, the market is divided into:

  • Soy Based
  • Wheat Based
  • Pea Protein
  • Others

Based on product, the industry can be segmented into:

  • Tofu
  • Tempeh
  • Seitan
  • Quorn
  • Others

By type, the industry is categorised into:

  • Concentrates
  • Isolates
  • Textured

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Meat Substitute Market By Region

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Animal Welfare Issues to Aid the Market Growth of Meat Substitute

The market growth of meat substitute is being driven by the shift in the consumption patterns towards meat alternatives, especially in the West. Further, rising millennial that takes into consideration various factors like animal welfare issues, and impact on the environment while making decisions as regards to purchasing, are boosting the market growth over the forecast period. Some factors fuelling the demand for meat substitutes include the surging cost of meat, health consciousness, and ethics related to safeguarding the environment, motivating consumers to seek alternative sources for meat. Moreover, developing regions like the Asia Pacific are embracing the vegan trend, thus projected to grow at the fastest rate over the forecast period.

 

Key Industry Players in the Global Meat Substitute Market

The report gives a detailed analysis of the following key players in the global meat substitute market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • DuPont de Nemours, Inc.
  • Schouten Europe B.V.
  • Ingredion Incorporated
  • Conagra Brands, Inc.
  • Kerry Inc.
  • Ruitenberg Ingredients B.V. 
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Product, Type, Region
Breakup by Source Soy Based, Wheat Based, Pea Protein, Others
Breakup by Product Tofu, Tempeh, Seitan, Quorn, Others
Breakup by Type Concentrates, Isolates, Textured
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered DuPont de Nemours, Inc., Schouten Europe B.V., Ingredion Incorporated, Conagra Brands, Inc., Kerry Inc., Ruitenberg Ingredients B.V., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Meat Substitute Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Meat Substitute Historical Market (2018-2022) 
    8.3    Global Meat Substitute Market Forecast (2023-2028)
    8.4    Global Meat Substitute Market by Source
        8.4.1    Soy Based
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Wheat Based
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Pea Protein
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Meat Substitute Market by Product
        8.5.1    Tofu
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Tempeh
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Seitan
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Quorn
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Others
    8.6    Global Meat Substitute Market by Type
        8.6.1    Concentrates
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Isolates
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Textured
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Meat Substitute Market by Region       
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028) 
9    North America Meat Substitute Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Meat Substitute Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Meat Substitute Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Meat Substitute Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Meat Substitute Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    DuPont de Nemours, Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Schouten Europe B.V.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Ingredion Incorporated
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Conagra Brands, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Kerry Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Ruitenberg Ingredients B.V. 
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables

1.    Global Meat Substitute Market: Key Industry Highlights, 2018 and 2028
2.    Global Meat Substitute Historical Market: Breakup by Source (USD Billion), 2018-2022
3.    Global Meat Substitute Market Forecast: Breakup by Source (USD Billion), 2023-2028
4.    Global Meat Substitute Historical Market: Breakup by Product (USD Billion), 2018-2022
5.    Global Meat Substitute Market Forecast: Breakup by Product (USD Billion), 2023-2028
6.    Global Meat Substitute Historical Market: Breakup by Type (USD Billion), 2018-2022
7.    Global Meat Substitute Market Forecast: Breakup by Type (USD Billion), 2023-2028
8.    Global Meat Substitute Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global Meat Substitute Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Latin America Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Latin America Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Middle East and Africa Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Middle East and Africa Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Global Meat Substitute Market Structure

Key Questions Answered in the Report

In 2020, the global meat substitute market attained a value of nearly USD 16.2 billion.

The market is projected to grow at a CAGR of 16% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 40 billion by 2026.

The major drivers of the industry such as surging cost of meat, increasing health consciousness, ethics related to safeguarding the environment, and technological advancements are expected to aid the market growth.

The key market trend guiding the growth of the industry includes the emerging trend of veganism.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading sources of meat substitute in the market are soy based, wheat based, and pea protein, among others.

The major products of meat substitute in the industry are tofu, tempeh, seitan, and quorn, among others.

The significant types of meat substitute in the market are concentrates, isolates, and textured.

The major players in the industry are DuPont de Nemours, Inc., Schouten Europe B.V., Ingredion Incorporated, Conagra Brands, Inc., Kerry Inc., and Ruitenberg Ingredients B.V., among others.

Analyst Review

The global meat substitute market attained a value of USD 16.2 billion in 2020, driven by the rising health consciousness. Aided by the growing trend of veganism, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 16%. The market is projected to reach USD 40 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on source, the market is divided into soy based, wheat based, and pea protein, among others. By product, the industry is segmented into tofu, tempeh, seitan, and quorn, among others. On the basis of type, the market is categorised into concentrates, isolates, and textured. The major regional markets for meat substitute are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include DuPont de Nemours, Inc., Schouten Europe B.V., Ingredion Incorporated, Conagra Brands, Inc., Kerry Inc., and Ruitenberg Ingredients B.V., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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