Market By Category, Source, Product And Geography | Forecast 2019-2027
The meat substitute market in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 9.49% during the forecast years 2019-2027, according to a report by Triton Market Research.
The countries considered in the report on Latin America’s meat substitute market are:
• Mexico
• Brazil
• Rest of Latin America
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The meat substitute market in Mexico is showing steady growth, which can be attributed to a large number of people opting for vegetarian dietary habits. 20% of Mexicans, that majorly comprise young consumers have reduced their intake of meat and foods obtained from animals owing to their adoption of vegetarianism. Supermarkets are a major distribution channel providing affordable food products. The number of supermarkets is growing with the increase in global population. Mexico and Brazil are countries having a significant presence of supermarkets. The wide presence of supermarkets fulfils the ever-increasing demand for meat substitute products, thus fueling the growth of the meat substitute market.
The desire to consume a healthy, sustainable and convenient diet is the primary reason for consumers inclining towards meat substitutes. The consumers’ openness towards experimentation with food has led to an increase in the number of meat alternative products being introduced in the market. The growing demand for plant-based meat alternatives in Mexico has attracted companies like DuPont to expand their base in this market, which has launched textured soy protein products in the country. The country is not new to the concept of vegetarianism and also boasts of several vegan restaurants. The emergence of plant-based meat alternatives has drawn investments as well as innovation in the studied market. Investment is taking place in expanded processing infrastructure and new sources of protein; whereas, innovation is emphasizing on flavorings, ingredients and alternatives to existing processing.
Vegabom Healthy Option is a Brazilian company offering frozen and ready-to-eat vegan foods based on non-transgenic chickpeas & soybeans. The company’s mission is to offer good quality vegan chickpea & soy-based foods, with the appearance and taste catering to the eating habits of the meat consumers.
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LATIN AMERICA MEAT SUBSTITUTE MARKET - SUMMARY
2.
INDUSTRY OUTLOOK
2.1. MARKET DEFINITION
2.2. KEY INSIGHTS
2.2.1.
GROWING ADOPTION OF WHEAT-BASED FOODS
2.2.2.
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 SOYA-BASED PRODUCTS
3.
LATIN AMERICA MEAT SUBSTITUTE MARKET OUTLOOK - BY CATEGORY
3.1. FROZEN
3.2. REFRIGERATED
3.3. SHELF-STABLE
4.
LATIN AMERICA MEAT SUBSTITUTE MARKET OUTLOOK - BY SOURCE
4.1. SOY-BASED
4.2. WHEAT-BASED
4.3. MYCOPROTEIN
4.4. OTHER SOURCES
5.
LATIN AMERICA 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.
LATIN AMERICA MEAT SUBSTITUTE MARKET - REGIONAL OUTLOOK
6.1. LATIN AMERICA
6.1.1.
BRAZIL
6.1.2.
MEXICO
6.1.3.
REST OF LATIN AMERICA
7.
COMPETITIVE LANDSCAPE
7.1. AMY’S KITCHEN INC.
7.2. BEYOND MEAT
7.3. CAULDRON FOODS LTD
7.4. QUORN FOODS LTD
7.5. KELLOGG CO.
7.6. TOFURKY
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 LTD
7.15. VEGABOM HEALTHY OPTION
8.
METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY
TABLE 1: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY COUNTRY, 2019-2027 (IN
$ MILLION)
TABLE 2: MARKET ATTRACTIVENESS INDEX
TABLE 3: VENDOR SCORECARD
TABLE 4: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2019-2027
(IN $ MILLION)
TABLE 5: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY SOURCE, 2019-2027 (IN
$ MILLION)
TABLE 6: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY PRODUCT, 2019-2027 (IN
$ MILLION)
TABLE 7: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY COUNTRY, 2019-2027 (IN
$ MILLION)
FIGURE 1: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2018 &
2027 (IN %)
FIGURE 2: PORTER’S FIVE FORCE ANALYSIS
FIGURE 3: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY FROZEN, 2019-2027 (IN
$ MILLION)
FIGURE 4: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY REFRIGERATED,
2019-2027 (IN $ MILLION)
FIGURE 5: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY SHELF-STABLE,
2019-2027 (IN $ MILLION)
FIGURE 6: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY SOY-BASED, 2019-2027
(IN $ MILLION)
FIGURE 7: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY WHEAT-BASED,
2019-2027 (IN $ MILLION)
FIGURE 8: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY MYCOPROTEIN, 2019-2027
(IN $ MILLION)
FIGURE 9: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY OTHER SOURCES,
2019-2027 (IN $ MILLION)
FIGURE 10: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY TOFU-BASED,
2019-2027 (IN $ MILLION)
FIGURE 11: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY TEMPEH-BASED,
2019-2027 (IN $ MILLION)
FIGURE 12: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY TVP-BASED, 2019-2027
(IN $ MILLION)
FIGURE 13: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY SEITAN-BASED,
2019-2027 (IN $ MILLION)
FIGURE 14: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY QUORN-BASED,
2019-2027 (IN $ MILLION)
FIGURE 15: LATIN AMERICA MEAT SUBSTITUTE MARKET, BY OTHER PRODUCTS,
2019-2027 (IN $ MILLION)
FIGURE 16: LATIN AMERICA MEAT SUBSTITUTE MARKET, REGIONAL OUTLOOK, 2018
& 2027 (IN %)
FIGURE 17: BRAZIL MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 18: MEXICO MEAT SUBSTITUTE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 19: REST OF LATIN AMERICA MEAT SUBSTITUTE MARKET, 2019-2027 (IN $
MILLION)