GLOBAL MEAT SUBSTITUTE MARKET 2019-2027

Consumer Goods & Services | Food & Beverages

GLOBAL MEAT SUBSTITUTE MARKET 2019-2027

Market By Category, Source, Product And Geography | Forecast 2019-2027

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The global meat substitute market accounted for $4093.50 million in 2018 and would witness a CAGR of 7.35% over the forecast period to reach $7714.84 million by 2027.

The meat substitute market is growing at a steady rate owing to the increasing cases of obesity and the influence of vegan diet. Meat substitute or meat analog is an alternative to meat. The substitute resembles the texture as well as the aesthetic qualities, such as taste, flavor and appearance. Meat substitutes are composed of soy, wheat and others. Budding awareness of harmful health effects due to consumption of meat is pushing the consumers to adopt a vegan diet, thereby driving the meat substitute market in the upcoming years.

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Triton Market Research’s report on the meat substitute market provides an in-depth insight of the market. The detailed analysis of the market includes the key market insights, Porter’s five force analysis, vendor scorecard and the market attractiveness index. 

The meat substitute market is expected to witness stable growth in the forecast period, because of the rising health consciousness among consumers. Meat substitutes are becoming increasingly prevalent owing to the abundant health benefits associated with them. This is aiding the growth of the market by increasing sales. There is a rise in awareness about the health benefits of soy-based foods among individuals as they contain less amount of calories. Likewise, other meat alternatives like wheat are also suitable for adequate nutrient intake; this is because wheat protein aids muscle growth due to its rich protein content and low fat & calories. Furthermore, the demand for meat substitutes is increasing because of their healthy image and good texture that resembles meat products.

Moreover, the adoption of a vegan diet is further driving the market growth over the forecast period. The developed countries with high per capita incomes have been exhibiting a rapid increase in health issues for a decade, owing to which a growing number of consumers now prefer vegetarian food. For instance, Brazil exhibits a high prevalence of obesity. The adoption of vegan diet for being healthy and the growing preference of plant protein-based foods as a substitute for animal protein-based foods also aids the growth of the market. Furthermore, the benefits of cholesterol-free protein, with faux meat, is a factor promoting the growth of meat substitute products. 

However, rising allergies due to soy-based foods are restraining the market growth. The protein derived from soya accounts for a major chunk in the plant protein market, and can induce a variety of allergic symptoms. Notably, these allergens cannot be removed from any processing steps involved during product development, which, in turn, hinders the market growth for meat substitute products. Moreover, the FDA has come up with a gluten-free guide which also indicates the limitation of gluten to less than 20 ppm.

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The key geographies covered in global meat substitute market are:

•    North America: United States, and Canada, 

•    Europe: United Kingdom, France, Germany, Spain, Italy, Russia and Rest of Europe, 

•    Asia-Pacific: China, Japan, India, Australia, South Korea, ASEAN Countries and Rest of Asia Pacific, 

•    Latin America: Brazil, Mexico, & Rest of Latin America, 

•    Middle East & Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa & Rest of Middle East & Africa

The segmentation analysis of the meat substitute market includes:

•    Category has been sub-segmented into: 

O    Frozen

O    Refrigerated

O    Shelf-stable

•    Source has been sub-segmented into:

O    Soy-based

O    Wheat-based

O    Mycoprotein

O    Other sources

•    Product has been sub-segmented into:

O    Tofu-based

O    Tempeh-based

O    TVP-based

O    Seitan-based

O    Quorn-based

O    Other products

The top companies that have been studied in the meat substitute market are Amy’s Kitchen Inc., Beyond Meat, Cauldron Foods Ltd., Quorn Foods Ltd., Kellogg Co., Tofurky, Superbom, Meatless B.V., VBites Food Ltd., MGP Ingredients, Impossible Foods Inc., Conagra Brands Inc., The Campbell Soup Company, Sonic Biochem Extraction Ltd., and Vegabom Healthy Option. The strategic analysis for each of these companies in the meat substitute market has been covered in detail.


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Table of Content

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 LTD.

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

List of table

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)

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