Global Forecast for Meat Substitutes Market by Source, Type, Product, Form, and Region (2019 to 2026) - Drivers, Restraints, Opportunities & Challenges - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 11, 2020--
The “Meat Substitutes Market by Source (Soy protein, Wheat protein, Pea protein), Type (Concentrates, Isolates, and Textured), Product (Tofu, Tempeh, Seitan, and Quorn), Form (Solid and Liquid), and Region - Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global meat substitutes market is estimated to be valued at USD 1.6 billion in 2019 and is projected to grow at a CAGR of 12.0%, recording a value of USD 3.5 billion by 2026.
Owing to the changing perception, plant-based products are turning to be an ideal solution. The aspect of a healthy lifestyle, supported by the integration of plant-based alternatives, has become a popular notion among consumers who are increasingly open to the idea of plant-based products. Also, the rising per capita income is further accelerating market growth. However, the rising market for cultured meat and insect protein is hampering the meat substitutes market growth.
The market for pea protein in the meat substitutes market is projected to record the highest CAGR during the forecast period.
Pea protein has minerals, such as manganese and molybdenum, which enhances the metabolism in the human body. Protein from legumes, such as pea, helps in the prevention of diabetes and coronary heart diseases. This has led to an increase in demand by consumers. Consumers today are becoming more concerned about weight management, which is accelerating the growth of the meat substitutes market. These factors make pea protein a highly nutritious option for meat substitutes.
The solid segment is a faster-growing segment, based on form, in the meat substitutes market.
The solid form of proteins is preferred by manufacturers of plant-based meat products, and this is because of the numerous benefits they offer. Proteins available in the solid form are easy to handle and have better storage conditions as compared to the liquid form. Thus, they have a better shelf life, which increases the profit margin of food manufacturers.
North America is projected to account for the largest market share during the forecast period.
North America dominated the global meat substitutes market in 2018. This is due to the increasing demand for convenience food items in the vegan category. Also, the high standard of living has accelerated the plant-based meat industry of this region, which, in turn, is accelerating the meat substitutes market.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Meat Substitutes Market
4.2 Meat Substitutes Market, By Region, 2019 vs 2026
4.3 Meat Substitutes Market, By Source, 2019 vs 2026
4.4 Meat Substitutes Market, By Form, 2019 vs 2026 (USD Million)
4.5 North America: Meat Substitutes Market, By Type and Country, 2018
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Rising Adoption of Plant-Based Protein
22.214.171.124.1 Increasing Vegan & Flexitarian Population Across the World
126.96.36.199.2 Increasing Obesity Globally
188.8.131.52 Increasing Investments in Plant-Based Protein Ingredients
184.108.40.206 Increasing Inclination for Pea Protein Ingredients
220.127.116.11 Rising Market of Cultured Meat and Insect Protein
18.104.22.168 Allergy Concerns Among Consumers for Soy and Wheat Products
22.214.171.124 Emerging Markets Illustrate Great Potential for Meat Substitutes
126.96.36.199 Increasing Government Initiatives
188.8.131.52 Technological Advancement in Extrusion and Processing
184.108.40.206 Pricing Pressure
220.127.116.11 Perception of Taste
5.3 YC & YCC Shift
5.4 Supply Chain
5.5.2 Regulations, By Country
5.6 Patent Analysis
6 Meat Substitutes Market, By Product
6.2.1 Major Application in the Production of Plant-Based Burgers and Patties
6.3.1 Increasing Awareness About the Health Benefits Offered By Fermented Food Products Drives the Tempeh Market
6.4.1 Dense Texture and Neutral Flavor Make Seitan A Popular Meat Substitute
6.5.1 Quorn Provides High Health and Environmental Benefits
6.6 Other Products
6.6.1 Other Types of Meat Substitutes Include Risofu, Valess, and Lupine.
7 Meat Substitutes Market, By Source
7.2 Soy Protein
7.2.1 Allergy Associated With Soy Protein has Led to A Sluggish Demand in the Global Market
7.3 Wheat Protein
7.3.1 High Availability of Wheat as A Raw Material Encouraging Low-Fact Food Manufacturers
7.4 Pea Protein
7.4.1 High Investments From Manufacturers Boosting the Demand for Pea Protein
7.5 Others Sources
7.5.1 Increasing Demand for Edible Fungus
8 Meat Substitutes Market, By Type
8.2.1 Lower Price of Concentrates Boosts Their Demand in the Food Industry
8.3.1 Isolates are the Purest Form of Protein, and A Type With the Highest Amount of It
8.4.1 Textured Protein to Witness High Growth Due to the Rising Awareness About Healthy Food Habits Among Consumers
9 Meat Substitutes Market, By Form
9.2.1 The Solid Form of Proteins is Widely Preferred Because of Benefits Such as Ease in Storage and Handling
9.3.1 Demand for the Liquid Form is Low Across the Globe
10 Meat Substitutes Market, By Region
10.2 North America
10.4 Asia Pacific
10.5 South America
10.6 Middle East & Africa
11 Competitive Landscape
11.2 Competitive Leadership Mapping
11.2.1 Dynamic Differentiators
11.2.3 Visionary Leaders
11.2.4 Emerging Companies
11.3 Competitive Benchmarking
11.3.1 Strength of Product Portfolios
11.3.2 Business Strategy Excellence
11.4 Competitive Scenario
11.4.1 Expansions & Investments
11.4.3 Partnerships & Joint Ventures
11.4.4 New Product Launches
12 Company Profiles
12.1 Archer Daniels Midland Company
12.3 Roquette Freres
12.6 The Nisshin OilliO Group Ltd.
12.7 Axiom Foods
12.8 Sotexpro S.A
12.9 Wilmar International Limited
12.10 CRESPEL & DEITERS
12.11 CHS Inc.
12.13 MGP Ingredients
12.15 Sonic Biochem Ltd.
12.16 The Top Health Ingredients
12.17 Emsland Group
12.18 All Organic Treasures GmbH
12.20 A&B Ingredients
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INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
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PUB: 02/11/2020 05:02 AM/DISC: 02/11/2020 05:02 AM