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The global meat substitutes market reached a value of US$ 6.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2027, exhibiting a CAGR of 6.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemicon different end use industries. These insights are included in the report as a major market contributor.
Meat substitutes, or mock meats, are vegetarian food products that have similar taste, appearance and texture to that of poultry, meat and fish products. They are manufactured using grain- and plant-based sources to replicate animal-based protein and calcium, which aid in reducing cholesterol level, preventing menopausal difficulties and other related ailments. Currently, soy, tofu, tempeh, textured vegetable protein (TVP) and seitan are the most common types of meat substitutes available in the market. They are usually processed with various food additives, emulsifiers, coloring and leavening agents to enhance their flavor, texture and shelf-life.
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The increasing health awareness, along with a growing preference for vegetarian foods amongst consumers, is one of the key factors driving the growth of the market. Owing to various health benefits, such as reduction of blood sugar levels, meat substitutes are gaining immense popularity across the globe. The emerging trend of veganism and growing awareness regarding the environmental impact of animals farming for meat production is encouraging consumers to incorporate meat substitutes in their daily diet. The market is further driven by favorable campaigns on animal welfare, which aim at promoting the adoption of all plant foods such as cereals, pulses, vegetables, fruits, nuts, seeds, herbs and spices. Moreover, the development of the organized retail sector and online retail portals for seamless distribution of meat substitute products is also creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global meat substitutes market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type, source, category and distribution channel.
Breakup by Type:
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Based on the type, the market has been segregated into tofu and tofu ingredients, tempeh, textured vegetable protein (TVP), seitan, Quorn and others.
Breakup by Source:
On the basis of the source, the report finds that soy represents the most popular source. Other major segments are wheat and microprotein.
Breakup by Category:
Based on the category, the market has been segmented into frozen, refrigerated and shelf-stable products. At present, frozen meat substitutes are mostly preferred by consumers across the globe.
Breakup by Distribution Channel:
The market has been categorized on the basis of the distribution channel into supermarkets and hypermarkets, health and food stores, convenient stores and others.
Breakup by Region:
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On the geographical front, Europe exhibits a clear dominance in the world. Other major regions include Asia Pacific, North America, Latin America, and Middle East and Africa.
The report has also analyzed the competitive landscape of the market with some of the top meat substitutes companies being The Nisshin Oillio Group, Dupont, Archer Daniels Midland, Amy's Kitchen, Conagra Brands, Quorn Foods, Cauldron Foods, Campbell Soup Company, VBites, Blue Chip Group, Field Roast, Garden Protein International, LightLife, Sweet Earth Foods, MGP Ingredients, Tofurky, Meatless, Sonic Biochem Limited, etc.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Type, Source, Category, Distribution Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | The Nisshin Oillio Group, Dupont, Archer Daniels Midland, Amy's Kitchen, Conagra Brands, Quorn Foods, Cauldron Foods, Campbell Soup Company, VBites, Blue Chip Group, Field Roast, Garden Protein International, LightLife, Sweet Earth Foods, MGP Ingredients, Tofurky, Meatless and Sonic Biochem Limited |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global meat substitutes market was valued at US$ 6.0 Billion in 2021.
We expect the global meat substitutes market to exhibit a CAGR of 6.8% during 2022-2027.
The emerging trend of veganism, along with growing consumer awareness towards associated health
benefits of meat substitutes, is currently driving the global meat substitutes market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of
meat substitute products.
Based on the type, the global meat substitutes market has been bifurcated into tofu & tofu ingredients,
tempeh, textured vegetable protein (TVP), seitan, quorn, and others. Among these, tofu & tofu
ingredients hold the majority of the total market share.
Based on the source, the global meat substitutes market can be segmented into soy, wheat,
mycoprotein, and others. Currently, soy exhibits a clear dominance in the market.
Based on the category, the global meat substitutes market has been divided into frozen, refrigerated,
and shelf-stable. Among these, frozen meat substitute currently accounts for the majority of the global
market share.
Based on the distribution channel, the global meat substitutes market can be segregated into
supermarkets and hypermarkets, health and food stores, convenience stores, and others. Currently,
supermarkets and hypermarkets hold the largest market share.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Middle East
and Africa, and Latin America, where Europe currently dominates the global market.
Some of the major players in the global meat substitutes market include The Nisshin Oillio Group,
Dupont, Archer Daniels Midland, Amy's Kitchen, Conagra Brands, Quorn Foods, Cauldron Foods,
Campbell Soup Company, VBites, Blue Chip Group, Field Roast, Garden Protein International, LightLife,
Sweet Earth Foods, MGP Ingredients, Tofurky, Meatless, Sonic Biochem Limited, etc.
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