Meat Substitute Market by Product Type, Source, Category - Global Opportunity Analysis and Industry Forecast, 2018-2025

  • ID: 4603632
  • Report
  • Region: Global
  • 210 pages
  • Allied Analytics LLP
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The global meat substitute market size was valued at $7.5 billion by 2025, registering a CAGR of 7.7% during the forecast period (2018-2025). Meat is an excellent source of protein but contains high level of cholesterol and saturated fats. Individuals who consume it on a regular basis are more prone to develop health problems such as obesity and atherosclerosis.

Meat substitutes are products that resemble actual meat in terms of taste, flavor, and appearance, but are healthier as compared to meat. Such products are increasingly being used as substitutes for regular meat and meat products. They are primarily composed of ingredients such as soy, wheat, and others. Tofu is amongst the most popular meat substitute and is widely used as an alternative for pork, chicken, beef, and other meats. Europe and North America are amongst the biggest markets of meat substitutes; however Asia-Pacific is the fastest growing market.

Rise in obesity rates all over the world and increase in health problems such as heart diseases, high blood pressure, diabetes, asthma, and others have led to increase in number of health conscious individuals worldwide. Per-capita consumption of meat has witnessed a decline, especially in developed economies in the recent past. Food products that are high in nutritional value and have similar taste and texture as that of meat gain prominence among consumers. Other factors that drive the meat substitute market growth are innovative product launches by players operating in the market and attractive marketing and positioning strategies. However, a variety of low-cholesterol meat products available in the market including lean meats, pose a threat to the industry.

The market is segmented based on product type, source, category, and region. The segments based on product type include meat substitutes prepared from tofu, tempeh, textured vegetable protein (TVP), quorn, seitan, and others. Based on source, the market is classified into soy, wheat, mycoprotein, and others (pea protein, rice protein, and other sources). Textured vegetable protein and tofu are amongst most popular ingredients used for the preparation of soy-based meat substitutes. Seitan is commonly used for the preparation of wheat-based meat substitutes. Market segmentations based on category include frozen, refrigerated, and shelf-stable meat substitutes. To gain a comprehensive understanding, the market scenario is analyzed across key geographic regions namely North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the report are Amy’s Kitchen, Beyond Meat, Cauldron Foods, Garden Protein International, Inc., Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, MGP Ingredients, and Sonic Biochem Extractions Limited. Companies such as Amy’s Kitchen offer a wide range of innovative vegan meals and snacks. Beyond Meat, a leading player in meat substitute industry offers highly innovative substitutes of pork, chicken, turkey, and beef.

KEY BENEFITS

The report provides an extensive analysis of the current and emerging market trends and opportunities in the global meat substitute industry.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists in evaluating the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the meat substitute market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

KEY MARKET SEGMENTS

By Product Type

Tofu-based
Tempeh-based
TVP-based
Seitan-based
Quorn-based
Others

By Source Â

Soy-based
Wheat-based
Mycoprotein
Other Sources

By Category Â

Frozen
Refrigerated
Shelf Stable

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Turkey
Rest of LAMEA
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Note: Product cover images may vary from those shown
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CHAPTER 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. SNAPSHOT
2.2. KEY FINDING OF THE STUDY
2.3. CXO PERSPECTIVE

CHAPTER 3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pocket
3.2.2. Top impacting factors
3.2.3. Top winning strategies
3.3. PORTER'S FIVE FORCES ANALYSIS
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyer high
3.3.3. Thereat of new entrants high
3.3.4. Threat of substitute low
3.3.5. Intensity of competitive rivalry
3.4. TOP PLAYER POSITIONING, 2017
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Increase in obese population
3.5.1.2. Marketing and positioning strategies
3.5.1.3. New product development
3.5.1.4. Rapid growth in the food service industry
3.5.1.5. Environmental sustainability and animal welfare
3.5.2. Restraints
3.5.2.1. Wide availability of substitutes
3.5.3. Opportunities
3.5.3.1. Untapped developing markets
3.5.3.2. Increase in health awareness and vegetarianism

CHAPTER 4: MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE
4.1. OVERVIEW
4.1.1. Market size and forecast, by product type
4.2. Tofu-based
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.3. Tempeh-based
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.4. TVP-based
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.5. Seitan-based
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.6. Quorn-based
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast, by region
4.7. Other
4.7.1. Key market trends, growth factors, and opportunities
4.7.2. Market size and forecast, by region

CHAPTER 5: MEAT SUBSTITUTE MARKET, BY SOURCE
5.1. OVERVIEW
5.1.1. Market size and forecast, by source
5.2. Soy-based
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.3. Wheat-based
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.4. Mycoprotein
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.5. Others
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region

CHAPTER 6: MEAT SUBSTITUTE MARKET, BY CATEGORY
6.1. OVERVIEW
6.1.1. Market size and forecast, by category
6.2. Frozen
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.3. Refrigerated
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.4. Shelf Stable
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region

CHAPTER 7: MEAT SUBSTITUTE MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by product type
7.2.3. Market size and forecast, by source
7.2.4. Market size and forecast, by category
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by product type
7.3.3. Market size and forecast, by source
7.3.4. Market size and forecast, by category
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by product type
7.4.3. Market size and forecast, by source
7.4.4. Market size and forecast, by category
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by product type
7.5.3. Market size and forecast, by source
7.5.4. Market size and forecast, by category

CHAPTER 8: COMPANY PROFILES
8.1. Amys Kitchen
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Key strategic moves and developments
8.2. Beyond Meat
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. Cauldron Foods
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Key strategic moves and developments
8.4. Quorn Foods
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Key strategic moves and developments
8.5. Garden Protein International, Inc.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Key strategic moves and developments
8.6. Meatless B.V.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves and developments
8.7. Vbites Food, Ltd.
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.7.6. Key strategic moves and developments
8.8. Morningstar Farms.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. MGP Ingredients
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments
8.10. Sonic Biochem Extractions Limited
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
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According to a new report published titled, Meat Substitute Market by Product Type, Source and Category: Global Opportunity Analysis and Industry Forecast, 2018-2025,the global meat substitute market size was valued at $4,175 million in 2017, and is expected to reach $7,549 million by 2025, registering a CAGR of 7.7% from 2018 to 2025. Europe dominated the global meat substitute market in 2017, accounting for 38.5% of the total revenue.

The meat substitute market by product type comprises products prepared from tofu, tempeh, textured vegetable protein, seitan, quorn, and other plant-based sources. Textured vegetable protein (TVP)-based meat substitutes occupied the largest market share of 35.8% in 2017 as it is the basic ingredient in most of the soy-based meat substitute products. In terms of growth, Seitan-based meat substitutes are projected to exhibit an impressive CAGR of 9.4%, owing to increase in adoption in the food service industry.

Most of the food and sck products, marketed as meat substitutes are either frozen, refrigerated, or shelf-stable. Products offered by leading meat substitute companies such as Amys Kitchen, Beyond Meat, and others, primarily belong to frozen category. However, shelf stable category is projected to exhibit the fastest growth in the coming years.

Various categories of meat substitutes marketed by players include frozen, refrigerated, and shelf-stable products. Frozen meat substitutes occupied a prominent market share of 77.2% in 2017, followed by refrigerated and shelf stable meat substitute products. The shelf stable category is anticipated to exhibit the fastest CAGR of 9.1% from 2018 to 2025.

Key Findings of the Meat Substitute Market:

In terms of value, the quorn-based segment is expected to grow at a CAGR of 8.5% during the forecast period.
Europe is expected to domite the market, registering a CAGR of 7.3% in terms of value.
Asia-Pacific is projected to exponential growth in demand throughout 2025, growing at the highest CAGR 9.4%, in terms of value.
Soy-based segment is anticipated to domite the global meat substitute market registering CAGR of 7.2%.
In the global meat substitute market, the shelf stable segment is expected to grow at a CAGR of 9.1%, in terms of value.

North America and Europe collectively accounted for about more than two-thirds of the share of the global meat substitute market in 2017. Developing lifestyle and rise in disposable income of consumers are expected to drive the growth of the Asia-Pacific market.

The key players profiled in the report are Amys Kitchen Inc., Beyond Meat, Cauldron Foods, Garden Protein Intertiol, Inc., Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, MGP Ingredients Inc., and Sonic Biochem Extractions Limited.

Other prominent players in the meat substitute industry are ADM, Dupont, The Nisshin Oillio Group, Meatless, Vbites, Schouten Europe, Memphis Meats, Alpha Foods, Corbion Biotech, Inc., and Famleigh Inc.
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Note: Product cover images may vary from those shown
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