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 Amyâ€™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 Amyâ€™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.
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
By Source Â
By CategoryÂ Â
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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
2.2. 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
188.8.131.52. Increase in obese population
184.108.40.206. Marketing and positioning strategies
220.127.116.11. New product development
18.104.22.168. Rapid growth in the food service industry
22.214.171.124. Environmental sustainability and animal welfare
126.96.36.199. Wide availability of substitutes
188.8.131.52. Untapped developing markets
184.108.40.206. Increase in health awareness and vegetarianism
CHAPTER 4: MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE
4.1.1. Market size and forecast, by product type
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast, by region
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
5.1.1. Market size and forecast, by source
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
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
6.1.1. Market size and forecast, by category
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
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
7.1.1. 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
7.3.1. 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
7.4.1. 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
7.5.1. 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
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.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.