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Meat Substitutes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global meat substitutes market size was valued at US$ 4.8 Billion in 2018. 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.

Meat Substitutes Market

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. Looking forward, IMARC Group expects the global meat substitutes market to reach a value of US$ 6.6 Billion by 2024, registering a CAGR of around 5% during 2019-2024.

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Type:

  • Tofu & Tofu Ingredients 
  • Tempeh
  • Textured Vegetable Protein (TVP)
  • Seitan
  • Quorn
  • Others

Based on the type, the market has been segregated into tofu and tofu ingredients, tempeh, textured vegetable protein (TVP), seitan, Quorn and others.

Market Breakup by Source:

  • Soy
  • Wheat
  • Mycoprotein
  • Others
     

On the basis of the source, the report finds that soy represents the most popular source. Other major segments are wheat and microprotein.

Market Breakup by Category:

  • Frozen 
  • Refrigerated
  • Shelf-Stable


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.

Market Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets 
  • Health and Food Stores
  • Convenience Stores
  • Others


The market has been categorized on the basis of the distribution channel into supermarkets and hypermarkets, health and food stores, convenient stores and others.


Market Breakup by Region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East and Africa
  • Latin America


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.


Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players 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.

Key Questions Answered in This Report:

  • How has the global meat substitutes market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global meat substitutes industry?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the source?
  • What is the breakup of the market based on the category?
  • What is the breakup of the market based on the distribution channel?
  • What are the various stages in the value chain of the global meat substitutes industry?
  • What are the key driving factors and challenges in the global meat substitutes industry?
  • What is the structure of the global meat substitutes industry and who are the key players?
  • What is the degree of competition in the global meat substitutes industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Meat Substitutes Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Type
    5.4    Market Breakup by Source
    5.5    Market Breakup by Category
    5.6    Market Breakup by Distribution Channel
    5.7    Market Breakup by Region
    5.8    Market Forecast
6    Market Breakup by Type
    6.1    Tofu & Tofu Ingredients
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Tempeh
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Textured Vegetable Protein (TVP)
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Seitan
        6.4.1    Market Trends
        6.4.2    Market Forecast
    6.5    Quorn
        6.5.1    Market Trends
        6.5.2    Market Forecast
    6.6    Others
        6.6.1    Market Trends
        6.6.2    Market Forecast
7    Market Breakup by Source
    7.1    Soy
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Wheat
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Mycoprotein
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Others
        7.4.1    Market Trends
        7.4.2    Market Forecast
8    Market Breakup by Category
    8.1    Frozen
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Refrigerated
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Shelf-Stable
        8.3.1    Market Trends
        8.3.2    Market Forecast
9    Market Breakup by Distribution Channel
    9.1    Supermarkets and Hypermarkets
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Health and Food Stores
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Convenience Stores
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Others
        9.4.1    Market Trends
        9.4.2    Market Forecast
10    Market Breakup by Region
    10.1    Asia Pacific
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Europe
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    North America
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Middle East and Africa
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Latin America
        10.5.1    Market Trends
        10.5.2    Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porter’s Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    The Nisshin Oillio Group
        15.3.2    Dupont
        15.3.3    Archer Daniels Midland
        15.3.4    Amy's Kitchen
        15.3.5    Conagra Brands
        15.3.6    Quorn Foods
        15.3.7    Cauldron Foods
        15.3.8    Campbell Soup Company
        15.3.9    VBites
        15.3.10    Blue Chip Group
        15.3.11    Field Roast
        15.3.12    Garden Protein International
        15.3.13    LightLife
        15.3.14    Sweet Earth Foods
        15.3.15    MGP Ingredients 
        15.3.16    Tofurky
        15.3.17    Meatless 
        15.3.18    Sonic Biochem Limited 

List of Figures

Figure 1: Global: Meat Substitutes Market: Major Drivers and Challenges
Figure 2: Global: Meat Substitutes Market: Sales Value (in Billion US$), 2013-2018
Figure 3: Global: Meat Substitutes Market: Breakup by Type (in %), 2018
Figure 4: Global: Meat Substitutes Market: Breakup by Source (in %), 2018
Figure 5: Global: Meat Substitutes Market: Breakup by Category (in %), 2018
Figure 6: Global: Meat Substitutes Market: Breakup by Distribution Channel (in %), 2018
Figure 7: Global: Meat Substitutes Market: Breakup by Region (in %), 2018
Figure 8: Global: Meat Substitutes Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 9: Global: Meat Substitutes Industry: SWOT Analysis
Figure 10: Global: Meat Substitutes Industry: Value Chain Analysis
Figure 11: Global: Meat Substitutes Industry: Porter’s Five Forces Analysis
Figure 12: Global: Meat Substitutes (Tofu & Tofu Ingredients) Market: Sales Value (in Million US$), 2013 & 2018
Figure 13: Global: Meat Substitutes (Tofu & Tofu Ingredients) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 14: Global: Meat Substitutes (Tempeh) Market: Sales Value (in Million US$), 2013 & 2018
Figure 15: Global: Meat Substitutes (Tempeh) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 16: Global: Meat Substitutes (Textured Vegetable Protein) Market: Sales Value (in Million US$), 2013 & 2018
Figure 17: Global: Meat Substitutes (Textured Vegetable Protein) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 18: Global: Meat Substitutes (Seitan) Market: Sales Value (in Million US$), 2013 & 2018
Figure 19: Global: Meat Substitutes (Seitan) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 20: Global: Meat Substitutes (Quorn) Market: Sales Value (in Million US$), 2013 & 2018
Figure 21: Global: Meat Substitutes (Quorn) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 22: Global: Meat Substitutes (Other Types) Market: Sales Value (in Million US$), 2013 & 2018
Figure 23: Global: Meat Substitutes (Other Types) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 24: Global: Meat Substitutes (Soy) Market: Sales Value (in Million US$), 2013 & 2018
Figure 25: Global: Meat Substitutes (Soy) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 26: Global: Meat Substitutes (Wheat) Market: Sales Value (in Million US$), 2013 & 2018
Figure 27: Global: Meat Substitutes (Wheat) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 28: Global: Meat Substitutes (Mycoprotein) Market: Sales Value (in Million US$), 2013 & 2018
Figure 29: Global: Meat Substitutes (Mycoprotein) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 30: Global: Meat Substitutes (Other Sources) Market: Sales Value (in Million US$), 2013 & 2018
Figure 31: Global: Meat Substitutes (Other Sources) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 32: Global: Meat Substitutes (Frozen) Market: Sales Value (in Million US$), 2013 & 2018
Figure 33: Global: Meat Substitutes (Frozen) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 34: Global: Meat Substitutes (Refrigerated) Market: Sales Value (in Million US$), 2013 & 2018
Figure 35: Global: Meat Substitutes (Refrigerated) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 36: Global: Meat Substitutes (Shelf-Stable) Market: Sales Value (in Million US$), 2013 & 2018
Figure 37: Global: Meat Substitutes (Shelf-Stable) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 38: Global: Meat Substitutes Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2013 & 2018
Figure 39: Global: Meat Substitutes Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2019-2024
Figure 40: Global: Meat Substitutes Market: Sales through Health and Food Stores (in Million US$), 2013 & 2018
Figure 41: Global: Meat Substitutes Market Forecast: Sales through Health and Food Stores (in Million US$), 2019-2024
Figure 42: Global: Meat Substitutes Market: Sales through Convenience Stores (in Million US$), 2013 & 2018
Figure 43: Global: Meat Substitutes Market Forecast: Sales through Convenience Stores (in Million US$), 2019-2024
Figure 44: Global: Meat Substitutes Market: Sales through Other Distribution Channels (in Million US$), 2013 & 2018
Figure 45: Global: Meat Substitutes Market Forecast: Sales through Other Distribution Channels (in Million US$), 2019-2024
Figure 46: Asia Pacific: Meat Substitutes Market: Sales Value (in Million US$), 2013 & 2018
Figure 47: Asia Pacific: Meat Substitutes Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 48: Europe: Meat Substitutes Market: Sales Value (in Million US$), 2013 & 2018
Figure 49: Europe: Meat Substitutes Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 50: North America: Meat Substitutes Market: Sales Value (in Million US$), 2013 & 2018
Figure 51: North America: Meat Substitutes Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 52: Middle East and Africa: Meat Substitutes Market: Sales Value (in Million US$), 2013 & 2018
Figure 53: Middle East and Africa: Meat Substitutes Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 54: Latin America: Meat Substitutes Market: Sales Value (in Million US$), 2013 & 2018
Figure 55: Latin America: Meat Substitutes Market Forecast: Sales Value (in Million US$), 2019-2024

List of Tables

Table 1: Global: Meat Substitutes Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Meat Substitutes Market Forecast: Breakup by Type (in Million US$), 2019-2024
Table 3: Global: Meat Substitutes Market Forecast: Breakup by Source (in Million US$), 2019-2024
Table 4: Global: Meat Substitutes Market Forecast: Breakup by Category (in Million US$), 2019-2024
Table 5: Global: Meat Substitutes Market Forecast: Breakup by Distribution Channel (in Million US$), 2019-2024
Table 6: Global: Meat Substitutes Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 7: Global: Meat Substitutes Market Structure
Table 8: Global: Meat Substitutes Market: Key Players

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