Global Meat Substitutes Market Overview:
Meat substitutes are also known as meat alternative, mock meat, faux meat, imitation meat, vegetarian meat, or vegan meat. These meat substitutes possess certain aesthetic qualities like texture, flavor, appearance and other chemical characteristics of specific types of meat. These products are soy-based or gluten-based. Rising environmental concerns & awareness regarding the health benefits of meat substitutes are the major factors fueling the growth of market. Emerging regions such as Central & South America & Asia Pacific are expected to offer lucrative growth opportunities for the global market. Some of the key players profiled in the study are ADM (United States), DuPont (United States), The Nisshin OilliO Group (Japan), Sonic Biochem Limited (India), MGP Ingredients (United States), Garden Protein International (Canada), Beyond Meat (United States), Amys Kitchen (United States), Quorn Foods (United Kingdom) and Cauldron Foods (United Kingdom).
On the basis of geography, the market of Meat Substitutes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Frozen will boost the Meat Substitutes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Soy will boost the Meat Substitutes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising awareness regarding health benefits associated with meat substitutes
- Growing fad of weight management
- Technological Advancements to Develop New Product Lines
- Rising adoption in food industry
- Side effects of consuming meat substitutes
- High cost
- Growing Preference for Vegetarian and Vegan Foods
- Growth potential in emerging market
- Inclination towards tasty food
- Variations in the prices of raw material
The market players are adopting many strategies so as to attract the audience and to gain highest market share, these strategies can be listed as maintaining product uniqueness, offering attractive discounts, mergers with related organizations, alliances with different companies to increase sales area globally and others. Furthermore, as the adoption level of meat substitutes by consumers is increasing, it helps companies innovate and develop product lines for meat substitutes, which has further contributed to the growth of the meat substitutes market.
Target Audience:Manufacturer, Raw Material supplier, Channel partners, Industry Association, Downstream Vendors, Governments and investment communities and Research organizations and associations
Major Objectives Focused through this Study To define, describe, and forecast the Global Meat Substitutes market on the basis of product [Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Seitan, Quorn and others] , application [Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Online Retailers and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Meat Substitutes market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Meat Substitutes industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are MorningStar Farms (United States), Meatless (Netherlands) and VBites (United Kingdom).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Meat Substitutes market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.