North America Meat Substitute Market Forecast 2023-2032

North America Meat Substitute Market Forecast 2023-2032

KEY FINDINGS

The North America meat substitute market is projected to grow with a CAGR of 12.45% during the estimated period of 2023 to 2032. The market growth of the region is fuelled by key drivers, such as the increasing population of health-conscious consumers, the surging demand for vegetarian as well as vegan food products, and the rise in health problems due to the growing rates of obesity.

MARKET INSIGHTS

The North America meat substitute market growth assessment comprises the evaluation of the United States and Canada. The meat substitute market in Canada is developing since a major proportion of the population prefers plant-based meat alternatives. The increase in meat alternatives consumption also plays an essential role in augmenting the country’s market growth, further giving rise to innovation as well as the launch of new products.

On the other hand, key brands operating in Canada are predominantly concentrating on traditional product categories, such as burgers and poultry, on account of their easy entry point. Subsequently, they are expanding into other categories like hot dogs and deli meats. To meet the changing demand in protein consumption across Canada, traditional meat manufacturers are also providing their own plant-based protein products via brands such as Torfuky, Yves Veggie Cuisine, and others. Therefore, these factors are set to propel the North America meat substitute market growth during the forecast years.

COMPETITIVE INSIGHTS

Some of the leading firms operating in the market are DuPont, Cargill, Axiom Foods, 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