Reports
Global Meat Substitute Market Size, Share, Trends, Growth: By Source: Soy Based, Wheat Based, Pea Protein, Others; By Product: Tofu, Tempeh, Seitan, Quorn, Others; By Type: Concentrates, Isolates, Textured; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Meat Substitute Market Outlook
The global meat substitute market attained USD 21.8 billion in 2023. The market is expected to grow at a CAGR of 16% in the forecast period of 2024-2032 to attain USD 53.82 billion by 2032.
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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.
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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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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 (2018-2023)
8.3 Global Meat Substitute Market Forecast (2024-2032)
8.4 Global Meat Substitute Market by Source
8.4.1 Soy Based
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Wheat Based
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Pea Protein
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Meat Substitute Market by Product
8.5.1 Tofu
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Tempeh
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Seitan
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Quorn
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Meat Substitute Market by Type
8.6.1 Concentrates
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Isolates
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Textured
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Meat Substitute Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Meat Substitute Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Meat Substitute Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Meat Substitute Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Meat Substitute Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Meat Substitute Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Meat Substitute Historical Market: Breakup by Source (USD Billion), 2018-2023
3. Global Meat Substitute Market Forecast: Breakup by Source (USD Billion), 2024-2032
4. Global Meat Substitute Historical Market: Breakup by Product (USD Billion), 2018-2023
5. Global Meat Substitute Market Forecast: Breakup by Product (USD Billion), 2024-2032
6. Global Meat Substitute Historical Market: Breakup by Type (USD Billion), 2018-2023
7. Global Meat Substitute Market Forecast: Breakup by Type (USD Billion), 2024-2032
8. Global Meat Substitute Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Meat Substitute Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Meat Substitute Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 21.8 billion.
The market is projected to grow at a CAGR of 16% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 53.82 billion by 2032.
The major drivers of the market include increasing health consciousness, ethics related to safeguarding the environment, and rapid technological advancements.
The key trends guiding the growth of the market include emerging veganism and the surging cost of meat.
The major regions in the market 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 market are tofu, tempeh, seitan, and quorn, among others.
The significant types of meat substitute in the market are concentrates, isolates, and textured.
The key players in the global meat substitute market 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 21.8 billion in 2023, 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 2024-2032, growing at a CAGR of 16%. The market is projected to reach USD 53.82 billion by 2032.
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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