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Meat Substitute Market Size, Share, Growth | Forecast 2031
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Meat Substitute Market Size, Share, Growth | Forecast 2031

Segments - Global Meat Substitute Market by Sources (Soy Protein, Wheat Protein, Pea Protein, and Others), Products (Tofu, Tempeh, Seitan, Quorn, and Others), Types (Textured, Concentrates, and Isolates), Category (Frozen Meat Substitutes and Refrigerated Meat Substitutes), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023 - 2031

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-2890 | 4.7 Rating | 69 Reviews | 202 Pages | Format : PDF Excel PPT

Report Description


Global Meat Substitute Market Outlook 2031:

The global meat substitute market size was valued at USD 12.95 Billion in 2022 and is projected to reach USD 336.25 Billion by 2031, expanding at a CAGR of 43.6% during the forecast period 2023 - 2031. Meat substitute has similar appearance, taste, flavor, and texture, making it a healthy food substitute for meat.

Mock meat, faux meat, or imitation meat are also called meat substitutes or meat analogs. The consumption of vegetable protein in food products has been increasing owing to increasing prevalence of animal diseases.

Moreover, the global shortage of animal protein is expanding the market growth. The characteristics of meat substitutes are usually similar to the aesthetic qualities of certain types of meat.

Meat Substitute Market Outlook

In the same way that meat is often used in dishes, they are also frequently used as ingredients in meat dishes. The meat analogs provide consumers complete satisfaction due to their meaty appearance, texture, and taste, which are the results of the production process used to produce meat substitutes. Vegetables are rich in protein and can provide the required supplement to a vegetarian diet as meat substitutes.

  • Innovations in plant-based proteins have had a positive impact on the development of meat substitute products.
  • Growing investments made by ingredient manufacturers are driving the market growth.
  • Soybeans can subject to soy allergy, and therefore subject to health concerns. Itching and hives can occur among people with soy allergy. Besides from gas, bloating, and low levels of intestinal irritation, other signs of this disease include diarrhea. Considering soy protein is one of the main sources used to make meat substitutes, these factors are expected to restrain the market during the forecast period
  • The adoption of western cuisine has shifted Asia-based countries toward meat substitutes, which is expected to spur the market.

Scope of Meat Substitute Market Report

The report on global meat substitute market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Meat Substitute Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2022

Historic Data

2016 & 2021

Forecast Period

2023 – 2031

Segmentation

Sources (Soy Protein, Wheat Protein, Pea Protein, and Others), Products (Tofu, Tempeh, Seitan, Quorn, and Others), Types (Textured, Concentrates, and Isolates), Category (Frozen Meat Substitutes and Refrigerated Meat Substitutes)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

DuPont, ADM, Kerry Group, Ingredion Incorporated, Roquette Frères, PURIS, Cargill, Axiom Foods, MGP Ingredients, The Top Health Ingredients, Sonic Biochem Ltd, Crespel & Deiters, Wilmar International Limited, Sotexpro S.A, The Nisshin OilliO Group, Ltd, and A&B Ingredients.

Meat Substitute Market Segment Insights

Pea segment is projected to hold significant market share

In the terms of sources, the global meat substitute market can be divided into soy protein, wheat protein, pea protein, and others. The pea segment is projected to hold a significant market share owing to growing awareness among consumers about the benefits offered by healthy food products and replacement of meat meals with vegetarian diets.

Pea has been recognized as a major source of protein, and thereby has been a preferred choice of meat substitutes for the manufacturers of meat substitutes.

Tempeh segment is anticipated to account for a substantial share

Based on products, the global meat substitute market can be segmented into tofu, tempeh, seitan, quorn, and others. The tempeh segment is anticipated to account for a substantial share. The demand for allulose has increased due to its low-calorie, which has similar  taste as tabletop sugar.

Tempeh is a great source of protein and is also a prominent Indonesia-based dish. It has a cake-like consistency and is made from cooked and slightly fermented soybeans. The fermentation helps in breaking down the phytic acid in soybeans, which makes the starch in tempeh easier to digest.

Though tempeh is highly perishable, in industrial production, it can be stored by drying and freezing. Tempeh is chewy and has a nutty and earthy taste. As tempeh is generally made from nuts, it is richer in calories, proteins, iron, potassium, and fiber. The demand for tempeh is increasing as it is a low-cost product among other meat substitutes, which are rich in protein.

Meat Substitute Market Product

Concentrates segment is estimated to grow at a significant pace in near future

On the basis of types, the global meat substitute market can be divided into textured, concentrates, and isolates. The concentrates segment is anticipated to expand at a significant pace in near future. Concentrates, if added to a product, offer a high protein content and low level of calories. These concentrates are used as ingredients to enhance the volume and texture of different products.

Meat Substitute Market Types

Frozen meat substitutes segment is expected to hold a large share in the market

Based on category, the global meat substitute market can be bifurcated into frozen meat substitutes and refrigerated meat substitutes. The frozen meat substitutes segment is expected to hold a large share in the market due to the growing preference for products such as TVP, which is dehydrated high-protein.

Asia Pacific is expected to dominate the market

In terms of regions, the global meat substitute market can be classified as Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is expected to dominate the market due to rising awareness about global animal welfare organizations, such as People for the Ethical Treatment for Animals (PETA), which has led to people considering a meat-free diet.

Non-meat-based meals are already preferred in Asia, with tofu extensively used in Asian cuisines and bean-based congees widely that are consumed in countries such as China.

Meat Substitute Market Region

Segments

By Products

  • Tofu
  • Tempeh
  • Seitan
  • Quorn
  • Others

By Sources

  • Soy protein
  • Wheat protein
  • Pea protein
  • Others

By Types

  • Isolates
  • Concentrates
  • Textured

By Category

  • Frozen Meat Substitutes
  • Refrigerated Meat Substitutes

By Regions

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

By Key Players

  • DuPont
  • ADM
  • Kerry Group
  • Ingredion Incorporated
  • Roquette Frères
  • PURIS
  • Cargill
  • Axiom Foods
  • MGP Ingredients
  • The Top Health Ingredients
  • Sonic Biochem Ltd
  • Crespel & Deiters
  • Wilmar International Limited
  • Sotexpro S.A
  • The Nisshin OilliO Group, Ltd,
  • A&B Ingredients

Competitive Landscape

Key players in the global meat substitute market are DuPont, ADM, Kerry Group, Ingredion Incorporated, Roquette Frères, PURIS, Cargill, Axiom Foods, MGP Ingredients, The Top Health Ingredients, Sonic Biochem Ltd, Crespel & Deiters, Wilmar International Limited, Sotexpro S.A, The Nisshin OilliO Group, Ltd, and A&B Ingredients.

These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Meat Substitute Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Meat Substitute Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Meat Substitute Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Meat Substitute Market - Supply Chain
  4.5. Global Meat Substitute Market Forecast
     4.5.1. Meat Substitute Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Meat Substitute Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Meat Substitute Market Absolute $ Opportunity
5. Global Meat Substitute Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Meat Substitute Market Size and Volume Forecast by Types
     5.3.1. Isolates
     5.3.2. Concentrates
     5.3.3. Textured
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Meat Substitute Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Meat Substitute Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Meat Substitute Demand Share Forecast, 2019-2026
7. North America Meat Substitute Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Meat Substitute Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Meat Substitute Market Size and Volume Forecast by Types
     7.4.1. Isolates
     7.4.2. Concentrates
     7.4.3. Textured
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Meat Substitute Demand Share Forecast, 2019-2026
8. Latin America Meat Substitute Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Meat Substitute Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Meat Substitute Market Size and Volume Forecast by Types
     8.4.1. Isolates
     8.4.2. Concentrates
     8.4.3. Textured
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Meat Substitute Demand Share Forecast, 2019-2026
9. Europe Meat Substitute Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Meat Substitute Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Meat Substitute Market Size and Volume Forecast by Types
     9.4.1. Isolates
     9.4.2. Concentrates
     9.4.3. Textured
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Meat Substitute Demand Share Forecast, 2019-2026
10. Asia Pacific Meat Substitute Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Meat Substitute Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Meat Substitute Market Size and Volume Forecast by Types
     10.4.1. Isolates
     10.4.2. Concentrates
     10.4.3. Textured
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Meat Substitute Demand Share Forecast, 2019-2026
11. Middle East & Africa Meat Substitute Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Meat Substitute Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Meat Substitute Market Size and Volume Forecast by Types
     11.4.1. Isolates
     11.4.2. Concentrates
     11.4.3. Textured
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Meat Substitute Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Meat Substitute Market: Market Share Analysis
  12.2. Meat Substitute Distributors and Customers
  12.3. Meat Substitute Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. DuPont
     12.4.2. ADM
     12.4.3. Kerry Group
     12.4.4. Ingredion Incorporated
     12.4.5. Roquette Frères
     12.4.6. PURIS
     12.4.7. Cargill
     12.4.8. Axiom Foods

Methodology

Our Clients

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