Global Meat Substitute Market Forecast 2023-2032

Global Meat Substitute Market Forecast 2023-2032

KEY FINDINGS

The global meat substitute market is set to record a CAGR of 14% during the forecast period, 2023-2032. The market growth is attributed to the increasing demand for plant-based proteins, the growing health consciousness, the rising obese population, and product research & innovations.

MARKET INSIGHTS

The meat substitute is considered to be a healthy alternative to meat. It resembles characteristics and aesthetic qualities such as taste, flavor, appearance and texture of meat. Obese-related disorders like cardiovascular diseases and diabetes have increased in the last few years. As per the Organization for Economic Co-operation and Development (OECD), obesity levels are projected to be high in England, Mexico, and the US, with 35%, 39%, and 47%, respectively, of the population, estimated to be obese by 2030. Unhealthy lifestyle habits are majorly attributed to the rising incidences of obesity.

Accordingly, this has led to an increased health consciousness and a fitness-centric approach to life among consumers. One of the practices followed worldwide is the adoption of veganism and vegetarian lifestyles. This has further raised the demand for plant-based alternatives. Such factors boost growth opportunities for the global meat substitute market. However, the market growth is restrained by high expenses incurred in such habits.

REGIONAL INSIGHTS

The global meat substitute market growth analysis includes the geographical segmentation of North America, Europe, Asia-Pacific, and Rest of World. Europe is set to be the prominent region, accredited to modern dietary trends and the high demand for high-fiber & protein-rich meals.

COMPETITIVE INSIGHTS

Some of the eminent market players include Ingredion Incorporated, Kerry Group, ADM, Roquette Freres, DuPont, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments