Meat Analogue Global Market Scope and Trends

Rising health issues (which include obesity and diabetes) owing to the excess consumption of meat products, and increasing awareness of the environmental impact caused by the rearing of animals (for meat consumption) are major factors driving the consumers to shift towards meat substitutes.

The emerging trend in the Meat Analogue market includes diversification of raw materials used in the making of alternative meat products, primarily shifting from soy and wheat to recognizable, clean-label ingredients, and high-quality protein, which appeals to non-vegans and non-vegetarians.

The global Meat Analogue market is projected to expand at a CAGR of 7.4% during the forecast period (2018-2023) and is expected to be worth USD 6.1 billion by 2023.

Market Segmentation based on product type:-

The different product types offered in the meat substitutes market include- tofu and tofu-based products, tempeh, seitan, textured vegetable protein (TVP) and Quorn.

Segmentation based on source type:-

The different types of sources from which the meat substitute products are derived include soy, wheat and mycoprotein.

Regional insights:-

The meat substitutes market in Europe is expected to expand at the highest CAGR of 9.3% during the 2018-2023 period.

The North American Meat Analogue market is expected to expand at a CAGR of 5.9% during the forecast period.

In 2018, the Asia-Pacific region which contributed USD 0.8 Bn in the total Meat Analogue market.

In Europe, the contribution of new product launches from the meat substitutes category increased from 9% in 2013 to 11% in 2018 (Jan-Sep).

Meat Analogue Market Trend seen across the globe with new product launches increasing from 6% to 14%.

Companies covered

• Amy’s Kitchen

• VBites

• Monde Nissin Corporation

• Beyond Meat

• Impossible Foods

• Sunfed

• Next Level Burgers