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Meat Substitutes Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 207 Pages Fortune Business Insights Pvt. Ltd. April, 2024 FOB18772809
Best Price Guarantee
Price from $4,850
Length 207 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date April, 2024
SKU FOB18772809

Meat Substitutes Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Meat Substitutes Market


The Meat Substitutes size was valued at USD 6.42 billion in 2023, and the market is now projected to grow from USD 7.06 billion in 2024 to USD 17.79 billion by 2032, exhibiting a CAGR of 12.25% during the forecast period of 2023-2030.

The COVID-19 pandemic created significant opportunities on the Meat Substitutes growth as curbing coronavirus outbreak was prioritized. The Coronavirus pandemic and its effect on wellbeing have additionally assisted with stressing the need to keep a solid and adjusted diet among buyers. There is an expanded worry about the relationship between climate, diet, and creature farming. Subsequently, the interest for plant-based meat substitutes, a maintainable, eco-accommodating option in contrast to meat, is supposed to fundamentally rise.

The Meat Substitutes market share globally has been contributed due to the fair methodology toward protein consumption. Worldwide, buyer food inclinations are moving essentially. There is a rising mindfulness among individuals about the need to keep a solid way of life and take on a fair methodology toward protein consumption. In this way, purchasers are taking on a proactive methodology and further developing protein admission to guarantee that they stay fit and good for quite a while. Hence, they are working on their dietary propensities and including plant-based protein items in their eating routine.

Furthermore, there’s been a notable trend of veganism. Veganism is one of the most famous dietary trends continuously took on by purchasers around the world. As veggie lovers totally rely upon plant-based items for their protein prerequisites, the interest for clean meat substitutes among such buyers is moderately high. According to information given by the financial analyst, the quantity of veggie lovers in the U.S. expanded from 0.4% to 3.5% in 2021. Such an expansion in the vegetarian populace is additionally expected to help the market development.

Comprehensive Analysis of Meat Substitutes Market

The reception of plant-based items assumes a significant part in diminishing the issue of over-reliance on domesticated animals’ creation for meat items. This assists with diminishing the fossil fuel byproduct and butchering of creatures. Thus, a portion of the significant meat fabricating organizations, like Tyson Food sources and JBS SA, have laid out a product offering devoted to assembling plant-based other options.

Europe is one of the significant customers of substitute meat items worldwide. One of the excellent elements is the developing need in the locale to change on to a more manageable food framework which is fundamental for accomplishing the objectives of the European Green Arrangement. Subsequently, plant-based items are a significant driver of deals development for staple retailers across the district. Among the European nations, France, the U.K., and Germany are a portion of the significant buyers of these items. Food trends in France have moved decisively because of financial and segment shifts.

The top players in the market play a crucial role in the Meat Substitutes market assuring industrial prospectus growth and setting market standards. These players include, Beyond Meat (U.S.), Impossible Foods (U.S.), Kellogg Company (U.S.), Tyson Foods (U.S.) and JBS SA (Brazil) these market players provide a level-playing competitive landscape.

In January 2024, Mainland Espresso Restricted, through its meat substitutes item brand Continental Greenbird sent off new vegetarian items in particular chicken-like pieces, chicken-like seekh kebab, chicken-like frankfurter, and sheep like keema.

Segmentation Table

Meat Substitutes Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of12.25% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Type, End-User, and Region

By Type Soy-based Ingredients

Wheat-based Ingredients

Other Grain-based Ingredients

Textured Vegetable Proteins

By End-User

Mass Merchandisers

Specialty Stores

Online Retail

Other Retail Channels

Foodservice

By Region North America (By Type, End-User, and Country)

-U.S. (By Type and End-User)

-Canada (By Type and End-User)

Europe (By Type, End-User, and Country/Sub-region)

-U.K. (By Type and End-User)

-Germany (By Type and End-User)

-France (By Type and End-User)

-Italy (By Type and End-User)

-Spain (By Type and End-User)

-Rest of Europe (By Type and End-User)

Asia Pacific (By Type, End-User, and Country/Sub-region)

-China (By Type and End-User)

-Japan (By Type and End-User)

-India (By Type and End-User)

-Australia (By Type and End-User)

-Rest of Asia Pacific (By Type and End-User)

Latin America (By Type, End-User, and Country/Sub-region)

-Brazil (By Type and End-User)

-Mexico (By Type and End-User)

-Rest of Latin America (By Type and End-User)

Middle East & Africa (By Type, End-User, and Country/ Sub-region)

-GCC (By Type and End-User)

-South Africa (By Type and End-User)

-Rest of Middle East & Africa (By Type and End-User)


1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Overview of the Parent/Related Markets
4.2. Regulatory Analysis
4.3. Industry SWOT Analysis
4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
4.5. Impact of COVID on Supply Chain of Meat Substitutes Market
5. Global Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Source (Value)
5.2.1.1. Soy-based Ingredients
5.2.1.2. Wheat-based Ingredients
5.2.1.3. Other Grain-based Ingredients
5.2.1.4. Textured Vegetable Protein
5.2.2. By Distribution Channel (Value)
5.2.2.1. Mass Merchandisers
5.2.2.2. Specialty Stores
5.2.2.3. Online Retail
5.2.2.4. Other Retail Channels
5.2.2.5. Foodservice
5.2.3. By Region (Value)
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East & Africa
6. North America Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Source (Value)
6.2.1.1. Soy-based Ingredients
6.2.1.2. Wheat-based Ingredients
6.2.1.3. Other Grain-based Ingredients
6.2.1.4. Textured Vegetable Protein
6.2.2. By Distribution Channel (Value)
6.2.2.1. Mass Merchandisers
6.2.2.2. Specialty Stores
6.2.2.3. Online Retail
6.2.2.4. Other Retail Channels
6.2.2.5. Foodservice
6.2.3. By Country (Value)
6.2.3.1. U.S
6.2.3.1.1. By Source (Value)
6.2.3.1.1.1. Soy-based Ingredients
6.2.3.1.1.2. Wheat-based Ingredients
6.2.3.1.1.3. Other Grain-based Ingredients
6.2.3.1.1.4. Textured Vegetable Protein
6.2.3.2. Canada
6.2.3.2.1. By Source (Value)
6.2.3.2.1.1. Soy-based Ingredients
6.2.3.2.1.2. Wheat-based Ingredients
6.2.3.2.1.3. Other Grain-based Ingredients
6.2.3.2.1.4. Textured Vegetable Protein
6.2.3.3. Mexico
6.2.3.3.1. By Source (Value)
6.2.3.3.1.1. Soy-based Ingredients
6.2.3.3.1.2. Wheat-based Ingredients
6.2.3.3.1.3. Other Grain-based Ingredients
6.2.3.3.1.4. Textured Vegetable Protein
7. Europe Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Source (Value)
7.2.1.1. Soy-based Ingredients
7.2.1.2. Wheat-based Ingredients
7.2.1.3. Other Grain-based Ingredients
7.2.1.4. Textured Vegetable Protein
7.2.2. By Distribution Channel (Value)
7.2.2.1. Mass Merchandisers
7.2.2.2. Specialty Stores
7.2.2.3. Online Retail
7.2.2.4. Other Retail Channels
7.2.2.5. Foodservice
7.2.3. By Country (Value)
7.2.3.1. U.K.
7.2.3.1.1. By Source (Value)
7.2.3.1.1.1. Soy-based Ingredients
7.2.3.1.1.2. Wheat-based Ingredients
7.2.3.1.1.3. Other Grain-based Ingredients
7.2.3.1.1.4. Textured Vegetable Protein
7.2.3.2. France
7.2.3.2.1. By Source (Value)
7.2.3.2.1.1. Soy-based Ingredients
7.2.3.2.1.2. Wheat-based Ingredients
7.2.3.2.1.3. Other Grain-based Ingredients
7.2.3.2.1.4. Textured Vegetable Protein
7.2.3.3. Germany
7.2.3.3.1. By Source (Value)
7.2.3.3.1.1. Soy-based Ingredients
7.2.3.3.1.2. Wheat-based Ingredients
7.2.3.3.1.3. Other Grain-based Ingredients
7.2.3.3.1.4. Textured Vegetable Protein
7.2.3.4. Italy
7.2.3.4.1. By Source (Value)
7.2.3.4.1.1. Soy-based Ingredients
7.2.3.4.1.2. Wheat-based Ingredients
7.2.3.4.1.3. Other Grain-based Ingredients
7.2.3.4.1.4. Textured Vegetable Protein
7.2.3.5. Spain
7.2.3.5.1. By Source (Value)
7.2.3.5.1.1. Soy-based Ingredients
7.2.3.5.1.2. Wheat-based Ingredients
7.2.3.5.1.3. Other Grain-based Ingredients
7.2.3.5.1.4. Textured Vegetable Protein
7.2.3.6. Rest of Europe
7.2.3.6.1. By Source (Value)
7.2.3.6.1.1. Soy-based Ingredients
7.2.3.6.1.2. Wheat-based Ingredients
7.2.3.6.1.3. Other Grain-based Ingredients
7.2.3.6.1.4. Textured Vegetable Protein
8. Asia Pacific Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Source (Value)
8.2.1.1. Soy-based Ingredients
8.2.1.2. Wheat-based Ingredients
8.2.1.3. Other Grain-based Ingredients
8.2.1.4. Textured Vegetable Protein
8.2.2. By Distribution Channel (Value)
8.2.2.1. Mass Merchandisers
8.2.2.2. Specialty Stores
8.2.2.3. Online Retail
8.2.2.4. Other Retail Channels
8.2.2.5. Foodservice
8.2.3. By Country (Value)
8.2.3.1. China
8.2.3.1.1. By Source (Value)
8.2.3.1.1.1. Soy-based Ingredients
8.2.3.1.1.2. Wheat-based Ingredients
8.2.3.1.1.3. Other Grain-based Ingredients
8.2.3.1.1.4. Textured Vegetable Protein
8.2.3.2. India
8.2.3.2.1. By Source (Value)
8.2.3.2.1.1. Soy-based Ingredients
8.2.3.2.1.2. Wheat-based Ingredients
8.2.3.2.1.3. Other Grain-based Ingredients
8.2.3.2.1.4. Textured Vegetable Protein
8.2.3.3. Japan
8.2.3.3.1. By Source (Value)
8.2.3.3.1.1. Soy-based Ingredients
8.2.3.3.1.2. Wheat-based Ingredients
8.2.3.3.1.3. Other Grain-based Ingredients
8.2.3.3.1.4. Textured Vegetable Protein
8.2.3.4. Australia
8.2.3.4.1. By Source (Value)
8.2.3.4.1.1. Soy-based Ingredients
8.2.3.4.1.2. Wheat-based Ingredients
8.2.3.4.1.3. Other Grain-based Ingredients
8.2.3.4.1.4. Textured Vegetable Protein
8.2.3.5. Rest of Asia Pacific
8.2.3.5.1. By Source (Value)
8.2.3.5.1.1. Soy-based Ingredients
8.2.3.5.1.2. Wheat-based Ingredients
8.2.3.5.1.3. Other Grain-based Ingredients
8.2.3.5.1.4. Textured Vegetable Protein
9. South America Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Size Estimates and Forecast
9.2.1. By Source (Value)
9.2.1.1. Soy-based Ingredients
9.2.1.2. Wheat-based Ingredients
9.2.1.3. Other Grain-based Ingredients
9.2.1.4. Textured Vegetable Protein
9.2.2. By Distribution Channel (Value)
9.2.2.1. Mass Merchandisers
9.2.2.2. Specialty Stores
9.2.2.3. Online Retail
9.2.2.4. Other Retail Channels
9.2.2.5. Foodservice
9.2.3. By Country (Value)
9.2.3.1. Brazil
9.2.3.1.1. By Source (Value)
9.2.3.1.1.1. Soy-based Ingredients
9.2.3.1.1.2. Wheat-based Ingredients
9.2.3.1.1.3. Other Grain-based Ingredients
9.2.3.1.1.4. Textured Vegetable Protein
9.2.3.2. Argentina
9.2.3.2.1. By Source (Value)
9.2.3.2.1.1. Soy-based Ingredients
9.2.3.2.1.2. Wheat-based Ingredients
9.2.3.2.1.3. Other Grain-based Ingredients
9.2.3.2.1.4. Textured Vegetable Protein
9.2.3.3. Rest of South America
9.2.3.3.1. By Source (Value)
9.2.3.3.1.1. Soy-based Ingredients
9.2.3.3.1.2. Wheat-based Ingredients
9.2.3.3.1.3. Other Grain-based Ingredients
9.2.3.3.1.4. Textured Vegetable Protein
10. Middle East & Africa Meat Substitutes Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. Market Size Estimates and Forecast
10.2.1. By Source (Value)
10.2.1.1. Soy-based Ingredients
10.2.1.2. Wheat-based Ingredients
10.2.1.3. Other Grain-based Ingredients
10.2.1.4. Textured Vegetable Protein
10.2.2. By Distribution Channel (Value)
10.2.2.1. Mass Merchandisers
10.2.2.2. Specialty Stores
10.2.2.3. Online Retail
10.2.2.4. Other Retail Channels
10.2.2.5. Foodservice
10.2.3. By Country (Value)
10.2.3.1. South Africa
10.2.3.1.1. By Source (Value)
10.2.3.1.1.1. Soy-based Ingredients
10.2.3.1.1.2. Wheat-based Ingredients
10.2.3.1.1.3. Other Grain-based Ingredients
10.2.3.1.1.4. Textured Vegetable Protein
10.2.3.2. UAE
10.2.3.2.1. By Source (Value)
10.2.3.2.1.1. Soy-based Ingredients
10.2.3.2.1.2. Wheat-based Ingredients
10.2.3.2.1.3. Other Grain-based Ingredients
10.2.3.2.1.4. Textured Vegetable Protein
10.2.3.3. Rest of Middle East & Africa
10.2.3.3.1. By Source (Value)
10.2.3.3.1.1. Soy-based Ingredients
10.2.3.3.1.2. Wheat-based Ingredients
10.2.3.3.1.3. Other Grain-based Ingredients
10.2.3.3.1.4. Textured Vegetable Protein
11. Competitive Matrix
11.1. Business Strategies Adopted by Leading Players
11.2. Global Meat Substitutes Market Revenue Share/Ranking Analysis, By Key Manufacturer
12. Company Profiles
12.1. Tyson Foods, Inc.
12.1.1. Overview
12.1.2. Description
12.1.3. Product Portfolio
12.1.4. Financials (Data as available in public domain and/or on paid databases)
12.1.5. Recent Developments
12.2. Beyond Meat, Inc.
12.2.1. Overview
12.2.2. Description
12.2.3. Product Portfolio
12.2.4. Financials (Data as available in public domain and/or on paid databases)
12.2.5. Recent Developments
12.3. Conagra Brands, Inc.
12.3.1. Overview
12.3.2. Description
12.3.3. Product Portfolio
12.3.4. Financials (Data as available in public domain and/or on paid databases)
12.3.5. Recent Developments
12.4. The Hain Celestial Group, Inc.
12.4.1. Overview
12.4.2. Description
12.4.3. Product Portfolio
12.4.4. Financials (Data as available in public domain and/or on paid databases)
12.4.5. Recent Developments
12.5. Unilever Group
12.5.1. Overview
12.5.2. Description
12.5.3. Product Portfolio
12.5.4. Financials (Data as available in public domain and/or on paid databases)
12.5.5. Recent Developments
12.6. Nestle S.A.
12.6.1. Overview
12.6.2. Description
12.6.3. Product Portfolio
12.6.4. Financials (Data as available in public domain and/or on paid databases)
12.6.5. Recent Developments
12.7. Kellogg Company
12.7.1. Overview
12.7.2. Description
12.7.3. Product Portfolio
12.7.4. Financials (Data as available in public domain and/or on paid databases)
12.7.5. Recent Developments
12.8. Impossible Foods Inc.
12.8.1. Overview
12.8.2. Description
12.8.3. Product Portfolio
12.8.4. Financials (Data as available in public domain and/or on paid databases)
12.8.5. Recent Developments
12.9. JBS SA
12.9.1. Overview
12.9.2. Description
12.9.3. Product Portfolio
12.9.4. Financials (Data as available in public domain and/or on paid databases)
12.9.5. Recent Developments
12.10. Sunfed
12.10.1. Overview
12.10.2. Description
12.10.3. Product Portfolio
12.10.4. Financials (Data as available in public domain and/or on paid databases)
12.10.5. Recent Developments
13. Strategic Recommendations
14. Appendix

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