The Global meat substitute market is expected to reach USD 5810.1
million by 2022, according to a new study by Grand View Research, Inc. Rising
health awareness coupled with shifting dietary preferences towards vegan diet
is expected to drive the global meat substitutes market. Recent animal
disease outbreaks and growing prevalence of various lifestyle induced diseases
such as obesity and diabetes are also expected to have a positive impact on the
market growth. High price of various meat substitutes is expected to hinder the
market growth. Increasing R&D initiatives to develop superior and cheaper
products is expected to yield opportunities for market participants.
Soy emerged as the major raw
material used for producing meat substitute products. Soy alone accounted for
over 80% of total market revenue in 2014. Growing demand for nutritional food
on account of growing health concerns is expected to drive this segment over
the forecast period. Soy based meat substitutes is a good source of vitamin B,
protein and Iron. Wheat is expected to be the fastest growing raw material use
for producing meat substitutes. The segment is expected to grow at an estimated
CAGR of 10.0% from 2015 to 2022.
Browse full research report on Meat Substitutes Market: http://www.grandviewresearch.com/industry-analysis/meat-substitutes-market
Further key findings from the study suggest:
- Global meat substitute market was valued at USD
3,336.5 million in 2014 and is expected to reach USD 5,810.1 million by
2022, growing at a CAGR of 7.5% from 2015 to 2022.
- Textured vegetable protein (TVP) emerged as the
leading product segment and accounted for 43.7% of total market revenue in
2014. Increasing demand for soy based meat substitutes is expected to
drive this segment over the forecast period. Seitan is expected to witness
the highest growth of 9.8% from 2015 to 2022. Growing wheat gluten
consumption in Asia Pacific is expected to drive this segment over the
forecast period.
- Europe emerged as the leading regional market and
accounted for 42.0% of total market revenue in 2014. Growing health
concerns particularly in developed economies of Europe is expected to
drive the regional market over the forecast period. Asia Pacific is
expected to witness the highest growth of 8.6% from 2015 to 2022.
Increasing disposable income level particularly in India, China and
Indonesia is expected to drive the regional market.
- Major industry participants have been taking strong
initiatives to develop superior quality meat substitute products.
Companies have been engaged in mergers & acquisitions and forging
partnerships with those possessing R&D capabilities and having strong
presence in the agro sector. Prominent industry participants include AMY’s
Kitchen, Beyond Meat, Blue Chip Group, Cauldron Foods UK, garden Protein International
Inc., Meatless B.V., Quorn Foods and Vbites Food Ltd.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
For the purpose of this study, Grand View Research has
segmented the meat substitute market on the basis of raw material, product and
region:
Global Meat Substitutes Raw Material Outlook (Revenue, USD
Million, 2014 - 2022)
- Soy-based
- Wheat-based
- Mycoprotein
- Others
Global Meat Substitutes Product Outlook (Revenue, USD
Million, 2014 - 2022)
- Tofu
- Tofu-based
- Tempeh
- Textured
Vegetable Protein (TVP)
- Other
Soy Products
- Seitan
- Quorn
- Others
Global Meat Substitutes Regional Outlook (Revenue, USD
Million, 2014 - 2022)
- North
America
- U.S.
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Middle
East and Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-meat-substitutes-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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