Global Meat Substitutes Market Present Scenario and Growth Prospects 2017 – 2025

“Meat Substitutes Market 2017 -2025” has added the report, “Meat Substitutes Market : Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 – 2025” published by Reports Monitor.

Meat Substitutes Market

Meat substitutes are the food & snacks products marketed as alternative veg food items for meat which resembles actual meat in terms of taste and aesthetics.  Although meat is superior source of proteins, it is high in cholesterol and saturated fats. Hence daily consumption of meat can cause health problems such as obesity and atherosclerosis. Increasing health awareness among consumers fuelled the demand for meat substitute. Some of most popular meat substitutes are Tofu, Tempeh, Seitan, Textured Vegetable Protein and others. Basic raw materials used for meat substitutes are soy, wheat and others.

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Market Growth Factors:
Health benefits of meat substitutes, rising health conscious population worldwide and changing preferences towards vegan diet, are the major growth drivers for meat substitutes market. Meat products are high in cholesterol & saturated fats and excessive consumption of meat products causes the obesity. Increasing health problems like obesity, blood pressure, heart diseases and others have increased the number of health conscious individuals and is fuelling the demand for meat substitutes. Outbreak of various animal diseases like bird flu and swine flu has led individuals towards vegan diet. Easily available, inexpensive source of protein and high nutritional value all of these factors aid to the more consumption of meat substitute. Attractive new product launches with innovative marketing strategies aid popularity of meat substitutes.  Growing popularity of meat substitutes, increasing trends towards healthy food, Easy to cook and long shelf life are the other some of the growth drivers for this market globally.

Market Segmentation:
Meat Substitutes Market is segmented on the basis of product type, source and category. On the basis of products type market is classified as tofu, tempeh, textured vegetable protein (TVP), Seitan, quorn and others. Tofu is expected to be the largest segment followed by TVP.  Tofu and textured vegetable proteins are derived from soy and are high in proteins & nutritional values. Actual meat resemblance in terms of taste and aesthetics, made tofu & TVPs more popular meat substitutes. On the basis of product category, meat substitutes market is classified as Frozen, Refrigerated and Shelf-Stable. Frozen meat substitutes expected to be the largest segment in this category as frozen food items provides convenience and easily available in small grocery shops to hyper and supermarkets. On the basis of source market is further classified as soy, wheat, mycoprotein and others (pea protein, rice protein etc.) Soy is the most popular raw material used by food manufacturer to develop meat substitutes. Increased production of soy globally and high nutritional value made preferred raw material for meat substitutes.

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Regional Analysis:
In terms of geography market is divided into

• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
o Brazil
o South Africa
o Rest of the LAMEA

Europe is expected to be the largest market for meat substitutes, followed by North America is second largest market for meat substitutes. Increased awareness about benefits of meat substitutes and new innovative product launches from food manufacturers in these regions, have led to the growth for this market in Europe and North America.

Competitive Analysis:
Top players in this markets includes

• Archer Daniels Midland
• Beyond Meat
• Vbites Food
• Ltd.
• Morningstar Farms
• The Nisshin OilliO Group
• Meatless
• Garden Protein International and others.

Broad product portfolio is the major competitive factor in this market. New product development is the key strategy adopted by the top players to sustain in this market.

Latest News:
• According to the news published on 24-Januray 2018  Archer Daniels Midland started food innovation centre in Singapore. It will be staffed by food scientists and related specialists as well as sales marketing and regulatory personnel.

• MosaMeat is entering into meat substitute market with innovative ‘clean meat’ burger.

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