Meat Substitutes Market
Meat Substitutes Market Forecasts to 2030 - Global Analysis By Product (Sausages, Patties, Meatballs, Hot Dogs, Crumbles & Grounds, Nuggets and Other Products), Format (Shelf-stable, Refrigerated and Frozen), Source, Animal Type, Ingredient, Functionality, Distribution Channel and By Geography
According to Stratistics MRC, the Global Meat Substitutes Market is accounted for $2.13 billion in 2023 and is expected to reach $3.31 billion by 2030 growing at a CAGR of 6.4% during the forecast period. meat substitute sometimes called a "meat analogue," is made to resemble certain forms of meat, such as hog, beef, and chicken, in terms of flavour, texture, and appearance. These alternatives are made from various plant proteins, such as soy, wheat, and pea proteins. These chemicals have several positive health effects. These goods were primarily created to replace or lessen our reliance on animal flesh. Compared to meat from animals, they are said to be healthier and more ecologically friendly.
According to Forbes, nearly 70% of the world’s population is cutting down on meat consumption. Researchers found high consumption of red meat causes colorectal cancer among consumers.
Market Dynamics:
Driver:
Increasing number of vegans
To stop the exploitation of animals, the majority of people who have strong emotional bonds with animals are becoming vegans. This shift in eating habits necessitates the development of new goods that satisfy consumer demand for wholesome and delicious goods that may take the place of meat in a meal and provide a comparable amount of high-protein nutrients. The demand for meat substitutes made from plant proteins increased due to the increased worldwide awareness of wholesome and sustainable diets. 60% of people plan to make this transition permanent, and a sizeable section of the population is focused on lowering or limiting their intake of animal proteins. The rise in flexitarians and vegans is anticipated to fuel market expansion.
Restraint:
Complex manufacturing process
The manufacturing method used to create meat substitutes made from plants is quite complex. Products go through a lot of processing throughout the production process, including plant-based meat alternatives. The fragrance of meat cannot be replicated by flavouring chemicals, especially for items like plant-based meat substitutes. As a result, bland-tasting items that don't provide consumers a satisfying taste experience have been created. Manufacturers utilise techniques like batch manufacturing because the finished product is made using various materials. The entire cost of producing plant-based meat goes up as a result.
Opportunity:
Technological advancements in extrusion and processing
Processing and extrusion are crucial in the market for meat alternatives. Proteins from peas, soy, and wheat are extracted during processing. Traditional dry extraction processes result in protein concentrates with 46% to 60% protein and protein flour with just 20% to 40% protein. But with the help of new extrudable fat technology, it is possible to produce plant-based meats with more realistic fat textures, such marbling, according to Coasun. The method enables the physical linking of fat and protein to produce a superior component by putting fat through an extruder and then mixing it with protein. These technical developments are promoting market expansion.
Threat:
Allergy concerns
For hundreds of years, food intolerances and allergies have been recorded. The meat replacements are unhealthy and heavily processed. In meat replacement products, the protein concentration is frequently fairly high, which might result in very severe allergic responses. Increased soy, pea, wheat, and other replacement eating produces severe responses and seriously impairs the immune system. All of these health issues are impeding market expansion.
Covid-19 Impact
The COVID-19 pandemic's emergence had a detrimental effect on the meat sector and greatly benefited meat alternatives since it caused supply chain and manufacturing process disruptions. A big gap between the supply and demand of meat products was established in the market as a result of the closure of factories at this time to stop the illness from spreading. This presented a chance for producers of plant-based meat to determine the demands of the market and grow their company by entering new markets or by introducing new meat substitutes.
The isolates segment is expected to be the largest during the forecast period
The isolates segment is estimated to have a lucrative growth. In meat substitutes, due to the protein content, meat replacements are available in isolates or pure forms, which are well-liked and favoured by producers of protein-based foods and beverages. Soy, pea, rice, and canola are a few of the different sources of protein isolates. In addition to increasing the protein content, improving moisture retention, and emulsifying, soy protein isolates are used to improve the texture of meat products. Due to bacterial fermentation, isolates are low in fat, oligosaccharides, and fibre and less likely to produce flatulence. These elements are promoting the segment's expansion.
The mass merchandisers segment is expected to have the highest CAGR during the forecast period
The mass merchandisers segment is anticipated to witness the fastest CAGR growth during the forecast period. One of the most popular distribution methods for clean meat products on the market is mass merchandiser. Customers have the ability to select their food product from a broad selection of alternatives that are accessible in the market aisles at supermarkets and budget retailers like Walmart and Target. Additionally, these shops provide new culinary items and give special prices to entice customers to buy the products. As a result, this channel is anticipated to have rapid growth in the years to come.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. According to the Good Food Institute, the US was one of the top consumers of plant-based goods worldwide in 2018. The adoption of dairy and meat substitutes has become a significant trend in the nation as a result of growing environmental consciousness and preference for a healthy lifestyle. The amount of goods sold in retail food chains has grown significantly in recent years as a result of the growing use of meat substitutes in the preparation of a variety of food products, including burgers, tacos, and other well-liked food items.
Region with highest CAGR:
Middle East & Africa is projected to have the highest CAGR over the forecast period. The market for alternative proteins and meats has been expanding quickly in this area as a result of rising consumer knowledge of plant-based meat, growing concern about climate change, and rising interest in health and wellbeing. The need for alternative meat products in high-end dining establishments for creating various cuisines has substantially increased as the tourist industry is flourishing. Additionally, in recent years, the consumption of plant-based meat alternatives such burgers and nuggets has greatly expanded in African nations like Zambia and South Africa.
Key players in the market
Some of the key players profiled in the Meat Substitutes Market include Batory Foods, Beyond Meat, ADM, Impossible Foods, Ingredion Incorporated, Kellogg Company, Kerry Group, Tyson Foods, Roquette Freres, JBS SA, Sunfed, Conagra Brands, Inc., Nestle S.A., Hain Celestial Group, Unilever Group, Amy's Kitchen, Inc, Pinnacle Foods, Atlantic Natural Foods LLC, Pacific Foods of Oregon Inc and Fry Group Foods.
Key Developments:
In April 2023, ADM announced its new cutting-edge, plant-based innovation lab, located in ADM's Biopolis research hub in Singapore. The new lab enabled the company to develop next-level, on-trend, and nutritious products, catering to the needs of the Asia Pacific market.
In April 2022, Kellogg's partnered with Benson Hill to supply the raw materials to manufacture alternative meat products. It partnered with Morningstar Farms, owned by Kellogg's, to supply soy components that are used to manufacture alternative meat products.
In November 2022, Ingredion Incorporated Ingredion Incorporated entered into an agreement with its joint venture partners to acquire 100% of Verdient Foods (Canada), a manufacturer of plant-based protein. This acquisition is expected to enable Ingredion Incorporated to cater to the rising consumer demand for plant-based foods.
In February 2022, Beyond Meat, Inc. announced a three-year global strategic agreement with McDonald’s Corporation. Under this agreement, Beyond Meat, Inc. became the preferred supplier for a new plant-based burger patty for McPlant, a plant-based burger.
In November 2021, Tyson Foods Inc. announced the launch of its plant-based protein brand Raised & Rooted in Europe.
Products Covered:
• Sausages
• Patties
• Meatballs
• Hot Dogs
• Crumbles & Grounds
• Nuggets
• Other Products
Formats Covered:
• Shelf-stable
• Refrigerated
• Frozen
Sources Covered:
• Textured
• Isolates
• Concentrates
Animal Types Covered:
• Beef
• Chicken
• Pork
• Fish
• Goat
Ingredients Covered:
• Textured Vegetable Proteins
• Soy-based Ingredients
• Wheat-based Ingredients
• Other Ingredients
Functionalities Covered:
• Clinical Nutrition
• Gut Health/Digestive Health
• Immunity Boosting Products
• Weight Management
• Other Functionalities
Distribution Channels Covered:
• Mass Merchandisers
• Specialty Stores
• Online Channel
• Retail Channel
• Foodservice
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Meat Substitutes Market, By Product
5.1 Introduction
5.2 Sausages
5.3 Patties
5.4 Meatballs
5.5 Hot Dogs
5.6 Crumbles & Grounds
5.7 Nuggets
5.8 Other Products
6 Global Meat Substitutes Market, By Format
6.1 Introduction
6.2 Shelf-stable
6.3 Refrigerated
6.4 Frozen
7 Global Meat Substitutes Market, By Source
7.1 Introduction
7.2 Textured
7.3 Isolates
7.4 Concentrates
8 Global Meat Substitutes Market, By Animal Type
8.1 Introduction
8.2 Beef
8.3 Chicken
8.4 Pork
8.5 Fish
8.6 Goat
9 Global Meat Substitutes Market, By Ingredient
9.1 Introduction
9.2 Textured Vegetable Proteins
9.3 Soy-based Ingredients
9.4 Wheat-based Ingredients
9.5 Other Ingredients
10 Global Meat Substitutes Market, By Functionality
10.1 Introduction
10.2 Clinical Nutrition
10.3 Gut Health/Digestive Health
10.4 Immunity Boosting Products
10.5 Weight Management
10.6 Other Functionalities
11 Global Meat Substitutes Market, By Distribution Channel
11.1 Introduction
11.2 Mass Merchandisers
11.3 Specialty Stores
11.4 Online Channel
11.5 Retail Channel
11.6 Foodservice
12 Global Meat Substitutes Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Batory Foods
14.2 Beyond Meat
14.3 ADM
14.4 Impossible Foods
14.5 Ingredion Incorporated
14.6 Kellogg Company
14.7 Kerry Group
14.8 Tyson Foods
14.9 Roquette Freres
14.10 JBS SA
14.11 Sunfed
14.12 Conagra Brands, Inc.
14.13 Nestle S.A.
14.14 Hain Celestial Group
14.15 Unilever Group
14.16 Amy's Kitchen, Inc
14.17 Pinnacle Foods
14.18 Atlantic Natural Foods LLC
14.19 Pacific Foods of Oregon Inc
14.20 Fry Group Foods
List of Tables
1 Global Meat Substitutes Market Outlook, By Region (2021-2030) ($MN)
2 Global Meat Substitutes Market Outlook, By Product (2021-2030) ($MN)
3 Global Meat Substitutes Market Outlook, By Sausages (2021-2030) ($MN)
4 Global Meat Substitutes Market Outlook, By Patties (2021-2030) ($MN)
5 Global Meat Substitutes Market Outlook, By Meatballs (2021-2030) ($MN)
6 Global Meat Substitutes Market Outlook, By Hot Dogs (2021-2030) ($MN)
7 Global Meat Substitutes Market Outlook, By Crumbles & Grounds (2021-2030) ($MN)
8 Global Meat Substitutes Market Outlook, By Nuggets (2021-2030) ($MN)
9 Global Meat Substitutes Market Outlook, By Other Products (2021-2030) ($MN)
10 Global Meat Substitutes Market Outlook, By Format (2021-2030) ($MN)
11 Global Meat Substitutes Market Outlook, By Shelf-stable (2021-2030) ($MN)
12 Global Meat Substitutes Market Outlook, By Refrigerated (2021-2030) ($MN)
13 Global Meat Substitutes Market Outlook, By Frozen (2021-2030) ($MN)
14 Global Meat Substitutes Market Outlook, By Source (2021-2030) ($MN)
15 Global Meat Substitutes Market Outlook, By Textured (2021-2030) ($MN)
16 Global Meat Substitutes Market Outlook, By Isolates (2021-2030) ($MN)
17 Global Meat Substitutes Market Outlook, By Concentrates (2021-2030) ($MN)
18 Global Meat Substitutes Market Outlook, By Animal Type (2021-2030) ($MN)
19 Global Meat Substitutes Market Outlook, By Beef (2021-2030) ($MN)
20 Global Meat Substitutes Market Outlook, By Chicken (2021-2030) ($MN)
21 Global Meat Substitutes Market Outlook, By Pork (2021-2030) ($MN)
22 Global Meat Substitutes Market Outlook, By Fish (2021-2030) ($MN)
23 Global Meat Substitutes Market Outlook, By Goat (2021-2030) ($MN)
24 Global Meat Substitutes Market Outlook, By Ingredient (2021-2030) ($MN)
25 Global Meat Substitutes Market Outlook, By Textured Vegetable Proteins (2021-2030) ($MN)
26 Global Meat Substitutes Market Outlook, By Soy-based Ingredients (2021-2030) ($MN)
27 Global Meat Substitutes Market Outlook, By Wheat-based Ingredients (2021-2030) ($MN)
28 Global Meat Substitutes Market Outlook, By Other Ingredients (2021-2030) ($MN)
29 Global Meat Substitutes Market Outlook, By Functionality (2021-2030) ($MN)
30 Global Meat Substitutes Market Outlook, By Clinical Nutrition (2021-2030) ($MN)
31 Global Meat Substitutes Market Outlook, By Gut Health/Digestive Health (2021-2030) ($MN)
32 Global Meat Substitutes Market Outlook, By Immunity Boosting Products (2021-2030) ($MN)
33 Global Meat Substitutes Market Outlook, By Weight Management (2021-2030) ($MN)
34 Global Meat Substitutes Market Outlook, By Other Functionalities (2021-2030) ($MN)
35 Global Meat Substitutes Market Outlook, By Distribution Channel (2021-2030) ($MN)
36 Global Meat Substitutes Market Outlook, By Mass Merchandisers (2021-2030) ($MN)
37 Global Meat Substitutes Market Outlook, By Specialty Stores (2021-2030) ($MN)
38 Global Meat Substitutes Market Outlook, By Online Channel (2021-2030) ($MN)
39 Global Meat Substitutes Market Outlook, By Retail Channel (2021-2030) ($MN)
40 Global Meat Substitutes Market Outlook, By Foodservice (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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