Global Meat Substitute Market 2019-2027

Market Outlook

The author predicts that the global market for meat substitutes would witness a CAGR of 7.35% over the forecast period 2019-2027. It generated revenues worth $4093.50 million in 2018 and is estimated to generate net revenue of approximately $7714.84 million by 2027.

Meat substitute (also called faux meat), is a healthy replacement for meat. The substitute has characteristics similar to those of meat, and also has aesthetic qualities such as flavor, taste, texture and the appearance of meat. Soy and wheat, among others, are used for producing meat substitutes. The increasing public awareness regarding the ill effects on health due to meat consumption is pushing the consumers to switch over to vegan dietary habits; this will drive the meat substitute market in the upcoming years.

Consumers today have become increasingly health-conscious, and prefer to use meat substitutes owing to the health benefits provided by these products. Hence, the rising number of health-conscious people acts as a driver for the growth of the meat substitute market. Other factors influencing the growth of this market are increased demand for plant-based diets and the surge in rates of obesity.

A number of celebrities are opting for a vegan lifestyle, thus influencing a large proportion of the population to become health-conscious and adopt veganism. Moreover, retail stores, such as supermarkets provide a dedicated space to meat substitute products, which is advantageous to the manufacturers. Also, discounts & offers provided by online retail stores attract more number of consumers to purchase these products. Thus, the growing adoption of veganism along with the expansion of the retail chain, are excellent opportunities that can be leveraged by meat substitute manufacturers to further propel the growth of the market.

However, the introduction of meat-based alternatives with low-fat content acts as a limiting factor that restrains the market growth. In addition, a significant percentage of consumers is moving back to consuming meat products, due to high costs levied on analog meat. Though plant-based food is a healthier option, it is financially-straining; and this factor severely decelerates the market growth. Moreover, soy-based foods are a leading cause of allergy, due to their high gluten content. The gluten allergen is the primary cause of celiac disease, which is highly prevalent in the US and Latin America. The consumers in these regions are thus advised to avoid the consumption of gluten-containing foods, which is another factor challenging the growth of the meat substitute market.

Regional Outlook

The global meat substitute market spans across the regions of North America, Latin America, the Asia-Pacific, Europe and the Middle East & Africa.

Soya-based products are witnessing a huge demand in Asia, which is expected to foster the growth of the meat substitute market over the coming years. The trend of vegetarianism and veganism has gained prominence in the countries of China and Japan. Moreover, the young generation in India is keen on experimenting with their food habits, showing an increased preference for meat substitute products. These factors are largely responsible for the widespread growth of the market in this region. Other factors aiding the growth of the market are the economic progress in developing countries, along with the high nutritional value provided by meat substitutes, which have generated a massive demand for these products.

Competitive Outlook

The companies that have been mentioned in the meat substitute market report are Amy’s Kitchen, Inc., Beyond Meat, Cauldron Foods, Quorn Foods, Kellogg Co., The Tofurky Company, Superbom, Meatless B.V., VBites Food Ltd., MGP Ingredients, Impossible Foods, Inc., Conagra Brands, Inc., The Campbell Soup Company, Sonic Biochem Limited and Vegabom Healthy Option.

Kellogg Co., along with its ancillaries, is engaged in the manufacturing and marketing of convenience foods and ready-to-eat cereal. It operates through the US Specialty Channels, US Morning Foods, US Snacks, North America, Europe, Asia-Pacific, Latin America and Other segments. The company’s frozen foods are sold under the brands ‘Morningstar Farms’ and ‘Eggo’. Kellogg sells its products to brokers, distributors and retailers via direct sales forces in around 180 countries. Founded in 1906, Kellogg Co. is headquartered in Battle Creek, the United States.

1. Global Meat Substitute Market - Summary

2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Asia-Pacific Leads The Largest Regional Market
2.2.2. Growing Adoption Of Wheat-Based Foods
2.2.3. Rise In Vegan Cafes And Restaurants
2.3. Porter's Five Force Analysis
2.3.1. Threat Of New Entrants
2.3.2. Threat Of Substitute
2.3.3. Bargaining Power Of Suppliers
2.3.4. Bargaining Power Of Buyers
2.3.5. Threat Of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Market Drivers
2.6.1. Upsurge In Health-Conscious Populace
2.6.2. High Demand For Plant-Based Diet
2.6.3. Increase In Obesity Aids Market Growth
2.7. Market Restraints
2.7.1. Easy Access To Alternative Products
2.8. Market Opportunities
2.8.1. Growing Adoption Of Veganism
2.8.2. Infiltration Of Retail Chain
2.9. Market Challenges
2.9.1. High Cost Levied On Analog Meat
2.9.2. Rise In Allergies Owing To Soy-Based Products

3. Global Meat Substitute Market Outlook - By Category
3.1. Frozen
3.2. Refrigerated
3.3. Shelf-Stable

4. Global Meat Substitute Market Outlook - By Source
4.1. Soy-Based
4.2. Wheat-Based
4.3. Mycoprotein
4.4. Other Sources

5. Global Meat Substitute Market Outlook - By Product
5.1. Tofu-Based
5.2. Tempeh-Based
5.3. Tvp-Based
5.4. Seitan-Based
5.5. Quorn-Based
5.6. Other Products

6. Global Meat Substitute Market - Regional Outlook
6.1. North America
6.1.1. Market By Category
6.1.2. Market By Source
6.1.3. Market By Product
6.1.4. Country Analysis
6.1.4.1. United States
6.1.4.2. Canada
6.2. Europe
6.2.1. Market By Category
6.2.2. Market By Source
6.2.3. Market By Product
6.2.4. Country Analysis
6.2.4.1. United Kingdom
6.2.4.2. Germany
6.2.4.3. France
6.2.4.4. Spain
6.2.4.5. Italy
6.2.4.6. Russia
6.2.4.7. Rest Of Europe
6.3. Asia-Pacific
6.3.1. Market By Category
6.3.2. Market By Source
6.3.3. Market By Product
6.3.4. Country Analysis
6.3.4.1. China
6.3.4.2. Japan
6.3.4.3. India
6.3.4.4. South Korea
6.3.4.5. Asean Countries
6.3.4.6. Australia & New Zealand
6.3.4.7. Rest Of Asia-Pacific
6.4. Latin America
6.4.1. Market By Category
6.4.2. Market By Source
6.4.3. Market By Product
6.4.4. Country Analysis
6.4.4.1. Brazil
6.4.4.2. Mexico
6.4.4.3. Rest Of Latin America
6.5. Middle East And Africa
6.5.1. Market By Category
6.5.2. Market By Source
6.5.3. Market By Product
6.5.4. Country Analysis
6.5.4.1. United Arab Emirates
6.5.4.2. Turkey
6.5.4.3. Saudi Arabia
6.5.4.4. South Africa
6.5.4.5. Rest Of Middle East & Africa

7. Competitive Landscape
7.1. Amy's Kitchen, Inc.
7.2. Beyond Meat
7.3. Cauldron Foods
7.4. Quorn Foods
7.5. Kellogg Co.
7.6. The Tofurky Company
7.7. Superbom
7.8. Meatless B.V.
7.9. Vbites Food Ltd.
7.10. Mgp Ingredients
7.11. Impossible Foods, Inc.
7.12. Conagra Brands, Inc.
7.13. The Campbell Soup Company
7.14. Sonic Biochem Limited
7.15. Vegabom Healthy Option

8. Methodology & Scope
8.1. Research Scope
8.2. Sources Of Data
8.3. Research Methodology

List of Tables
Table 1: Global Meat Substitute Market, By Geography, 2019-2027 (In $ Million)
Table 2: Market Attractiveness Index
Table 3: Vendor Scorecard
Table 4: Global Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 5: Global Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 6: Global Meat Substitute Market, By Product, 2019-2027 (In $ Million)
Table 7: Global Meat Substitute Market, By Geography, 2019-2027 (In $ Million)
Table 8: North America Meat Substitute Market, By Country, 2019-2027 (In $ Million)
Table 9: North America Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 10: North America Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 11: North America Meat Substitute Market, By Product, 2019-2027 (In $ Million)
Table 12: Europe Meat Substitute Market, By Country, 2019-2027 (In $ Million)
Table 13: Europe Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 14: Europe Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 15: Europe Meat Substitute Market, By Product, 2019-2027 (In $ Million)
Table 16: Asia-Pacific Meat Substitute Market, By Country, 2019-2027 (In $ Million)
Table 17: Asia-Pacific Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 18: Asia-Pacific Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 19: Asia-Pacific Meat Substitute Market, By Product, 2019-2027 (In $ Million)
Table 20: Latin America Meat Substitute Market, By Country, 2019-2027 (In $ Million)
Table 21: Latin America Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 22: Latin America Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 23: Latin America Meat Substitute Market, By Product, 2019-2027 (In $ Million)
Table 24: Middle East And Africa Meat Substitute Market, By Country, 2019-2027 (In $ Million)
Table 25: Middle East And Africa Meat Substitute Market, By Category, 2019-2027 (In $ Million)
Table 26: Middle East And Africa Meat Substitute Market, By Source, 2019-2027 (In $ Million)
Table 27: Middle East And Africa Meat Substitute Market, By Product, 2019-2027 (In $ Million)

List of Figures
Figure 1: Global Meat Substitute Market, By Category, 2018 & 2027 (In %)
Figure 2: Porter's Five Force Analysis
Figure 3: Global Meat Substitute Market, By Frozen, 2019-2027 (In $ Million)
Figure 4: Global Meat Substitute Market, By Refrigerated, 2019-2027 (In $ Million)
Figure 5: Global Meat Substitute Market, By Shelf-Stable, 2019-2027 (In $ Million)
Figure 6: Global Meat Substitute Market, By Soy-Based, 2019-2027 (In $ Million)
Figure 7: Global Meat Substitute Market, By Wheat-Based, 2019-2027 (In $ Million)
Figure 8: Global Meat Substitute Market, By Mycoprotein, 2019-2027 (In $ Million)
Figure 9: Global Meat Substitute Market, By Other Sources, 2019-2027 (In $ Million)
Figure 10: Global Meat Substitute Market, By Tofu-Based, 2019-2027 (In $ Million)
Figure 11: Global Meat Substitute Market, By Tempeh-Based, 2019-2027 (In $ Million)
Figure 12: Global Meat Substitute Market, By Tvp-Based, 2019-2027 (In $ Million)
Figure 13: Global Meat Substitute Market, By Seitan-Based, 2019-2027 (In $ Million)
Figure 14: Global Meat Substitute Market, By Quorn-Based, 2019-2027 (In $ Million)
Figure 15: Global Meat Substitute Market, By Other Products, 2019-2027 (In $ Million)
Figure 16: Global Meat Substitute Market, Regional Outlook, 2018 & 2027 (In %)
Figure 17: United States Meat Substitute Market, 2019-2027 (In $ Million)
Figure 18: Canada Meat Substitute Market, 2019-2027 (In $ Million)
Figure 19: United Kingdom Meat Substitute Market, 2019-2027 (In $ Million)
Figure 20: Germany Meat Substitute Market, 2019-2027 (In $ Million)
Figure 21: France Meat Substitute Market, 2019-2027 (In $ Million)
Figure 22: Spain Meat Substitute Market, 2019-2027 (In $ Million)
Figure 23: Italy Meat Substitute Market, 2019-2027 (In $ Million)
Figure 24: Russia Meat Substitute Market, 2019-2027 (In $ Million)
Figure 25: Rest Of Europe Meat Substitute Market, 2019-2027 (In $ Million)
Figure 26: China Meat Substitute Market, 2019-2027 (In $ Million)
Figure 27: Japan Meat Substitute Market, 2019-2027 (In $ Million)
Figure 28: India Meat Substitute Market, 2019-2027 (In $ Million)
Figure 29: South Korea Meat Substitute Market, 2019-2027 (In $ Million)
Figure 30: Asean Countries Meat Substitute Market, 2019-2027 (In $ Million)
Figure 31: Australia & New Zealand Meat Substitute Market, 2019-2027 (In $ Million)
Figure 32: Rest Of Asia-Pacific Meat Substitute Market, 2019-2027 (In $ Million)
Figure 33: Brazil Meat Substitute Market, 2019-2027 (In $ Million)
Figure 34: Mexico Meat Substitute Market, 2019-2027 (In $ Million)
Figure 35: Rest Of Latin America Meat Substitute Market, 2019-2027 (In $ Million)
Figure 36: United Arab Emirates Meat Substitute Market, 2019-2027 (In $ Million)
Figure 37: Turkey Meat Substitute Market, 2019-2027 (In $ Million)
Figure 38: Saudi Arabia Meat Substitute Market, 2019-2027 (In $ Million)
Figure 39: South Africa Meat Substitute Market, 2019-2027 (In $ Million)
Figure 40: Rest Of Middle East & Africa Meat Substitute Market, 2019-2027 (In $ Million)