Meat Substitute Market Report 2026

The meat substitute market size has grown rapidly in recent years. It will grow from $8.03 billion in 2025 to $8.97 billion in 2026 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to rising vegetarian and vegan populations, growing awareness of environmental impact of meat, expansion of soy and mycoprotein usage, increased availability of alternative protein sources, growth of specialty food retail.

The meat substitute market size is expected to see rapid growth in the next few years. It will grow to $13.3 billion in 2030 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing consumer shift toward flexitarian diets, rising investments in alternative protein innovation, expansion of foodservice adoption of meat substitutes, growing demand for allergen-free products, increasing focus on taste parity with meat. Major trends in the forecast period include increasing adoption of plant-based protein sources, rising demand for clean-label meat alternatives, growing innovation in texture and flavor replication, expansion of frozen and ready-to-cook formats, enhanced focus on nutritional fortification.

The growing vegan population is expected to drive the expansion of the meat substitute market. Vegans exclusively consume plant-based foods, avoiding all animal products such as meat, dairy, eggs, and honey, motivated by ethical, environmental, and health reasons. Increasing awareness of the health risks linked to animal products, including heart disease, high cholesterol, and certain cancers, is encouraging more people to adopt vegan diets. Meat substitutes provide tasty, nutritious, and convenient alternatives to traditional meat, supporting individuals in maintaining a vegan lifestyle while highlighting the ethical and environmental benefits of reducing animal product consumption. For example, in January 2024, Vegconomist, a UK-based plant-based and cellular agriculture news outlet, reported that the UK’s vegan population has reached 2.5 million, with 4.7% of adults now following a plant-based diet - a notable increase of 1.1 million individuals from 2023 to 2024. Therefore, the increasing vegan population is driving the growth of the meat substitute market.

Major companies in the meat substitute market are focusing on innovative alternatives, such as shredded beef substitutes, to cater to increasing demand for meat alternatives. These products mimic the texture, flavor, and versatility of shredded beef using plant-based ingredients. For example, in May 2024, The Mushroom Meat Company introduced a new shredded beef alternative made from functional mushrooms and whole plants, promising a nutrient-rich, meat-like experience. This innovation aims to transform the alternative protein market, offering consumers a customizable option for their culinary preferences.

In March 2025, Vivera Foodgroup B.V., a Netherlands-based producer of plant-based meat alternatives, acquired The Vegetarian Butcher from Unilever for an undisclosed amount. Through this acquisition, Vivera aims to strengthen and expand its plant-based product portfolio by integrating The Vegetarian Butcher’s well-established range of burgers, sausages, mince, and other meat-analogue products into its production and distribution network. The Vegetarian Butcher is a Netherlands-based company specializing in a wide range of plant-based meat substitutes.

Major companies operating in the meat substitute market are Cargill Incorporated, Nestle S.A., Archer-Daniels-Midland Company (ADM), Unilever PLC, Tyson Foods Inc., Kellogg Company, JBS S.A., DuPont de Nemours Inc., International Flavors & Fragrances Inc., Conagra Brands Inc., Kerry Group, Ingredion Incorporated, Roquette Freres, MorningStar Farms, Hain Celestial Group Inc., Amy's Kitchen, Impossible Foods Inc., Quorn Foods, Tofurky, Beyond Meat Inc., Field Roast Grain Meat Co. Inc., The Vegetarian Butcher, Lightlife Foods, Gardein International Inc.

Europe was the largest region in the meat substitute market in 2025. The regions covered in the meat substitute market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the meat substitute market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The meat substitute market consists of sales of plant-based meat alternatives, soy-based products, legume-based products, and wheat-based products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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