Meat Substitutes Market Size -Industry Trends & Forecast
Global Meat Substitutes Market is growing at the
CAGR of 9.57 % and touched USD 1.9Billion in 2020. The market is
expected to reach USD 3.8 Billion by 2027. The demand for healthy protein foods
has risen at an exponential rate, especially during the ongoing pandemic.
People have become more health-conscious and shifting to a vegan diet due to
rising intolerance for animal protein. Additionally, the availability of innovative
meat substitutes, and new product launches by the manufacturers, along with
increasing demand from the developing economies creates lucrative opportunities
for the players operating in this market.
Source: BlueWeave Consulting
Global Meat Substitutes
Meat substitutes are products that are derived from plant-based
and other organic sources. Meat substitutes include Tofu & Tofu Products,
Tempeh, Seitan, and others. The incidence of health disorders like obesity,
sugar, cardiovascular diseases has considerably increased over the past few
years. Because of their unhealthy diet and lifestyle practices, developed
countries such as North America and Western Europe have more cases of diabetes,
cancer, and other critical health issues. Some factors contributing to meat
substitutes' demand are the increasing cost of meat, health awareness, and
ethics related to saving the environment. These factors are driving consumers
to seek alternative sources for meat.
Meat Substitutes Market Forecast
Health Consciousness among the consumers towards Health Dietary Habits Consumers
are becoming more health-conscious due to the increasing incidences of health
disorders like diabetes, obesity, cancer, and other critical diseases. Meat
products are high in trans-fat and take a long time for the body to absorb,
resulting in obesity and diseases.Plant-based protein products are superior to
meat products in terms of nutrition, protein content, and taste, and texture.Soy
and a gluten-free diet have quickly become the fastest-growing nutritional
movements, gaining popularity for their health and therapeutic benefits.
Consumer Preference for Vegan & Vegetarian Diet
The key factor driving the
demand for meat substitutes is the growing preference for a vegan diet due to a
variety of health benefits and environmental concerns. Consumers' decisions to
go vegan are influenced by animal welfare concerns and moral values. Many
vegans strongly believe that all animals have a right to life and freedom,
which leads them to become vegan. Additionally, some people like to eat
plant-based just because they do not like animal protein and dairy products, or
they have sensitivities to them(lactose intolerance, for example).
for animal–based products and the expensive nature of meat substitutes
Meat alternatives are
relatively expensive, which limits the market growth. Furthermore,
a majority of foodies all over the world prefer animal-based products,
which is also hindering the market growth. Also, consumer demand for gluten-free
products is another primary factors which is obstructing the growth of the
market to some extent. While soy is gluten-free when grown organically, some
soy products can contain gluten-containing ingredients. Soy and soy products
are fine to eat as long as they are gluten-free and if you do not have a soy
sensitivity or allergy.
of COVID-19 in the industry
With the outbreak of
COVID-19, the concerns related to the consumption of meat products have been
increased. Thus, consumers are giving more preference to plant-based products
due to the rising health consciousness. The plant-based meat industry has made
huge strides despite the coronavirus pandemic, with many new consumers trying
its products for the first time. Disruptions in regional and global supply
chains had a significant effect on the availability of fresh meat. Finally, it
is commonly assumed that coronavirus was transmitted by animals – although more
exotic animals than most people are familiar with. Nonetheless, this has raised
concerns about the potential dangers of consuming animal-sourced animal products.
Owing to these factors, the meat substitute market is probable to witness a
growing demand throughout this pandemic.
Though the food and beverage
industry is experiencing a drop in the production of food items as a result of
the pandemic, the same global health crisis is one of the major factors driving
the market demand for plant-based protein.
Meat Substitutes Market: By Type
Based on type, the global
meat substitutes market is categorized into tofu & tofu products, tempeh, Seitan.
Of these, Seiten has emerged as the
fastest-growing segment and is expected to grow at a healthy CAGR during the
forecast period. Shaped masses, slices, marinated strips, and blocks are some
forms in which this product is available in the market. Tofu-based products are
also expected to hold a prominent share during the forecast period, but their growth
rate is average. Nevertheless. because of its high protein content and low
price, tofu is a healthier alternative to meat products.
Meat Substitutes Market: By Source
Based on source, the global
meat substitutes market is categorized into soy protein, wheat protein, mycoprotein,
and other sources. Soy-Based products hold the largest market share and are
likely to dominate the market during the forecast period. Soy-based meat
substitutes are currently the most successful in the market. Unlike
animal-based protein, soy-based products are fully cholesterol-free and a good
source of fiber. Soy-based meat substitutes are a full protein source that is
used in a variety of recipes. The substitutes of soy-based products are made to
resemble the texture, form, color, and taste of numerous meat products. These
factors are likely to drive the growth of the soy protein segment during the
Meat Substitutes Market: By Distribution Channel
Based on the distribution channel,
the meat substitutes market is divided into store-based, and non-store segments.
The store-based segment is the major contributor to the growth of the meat substitutes
market. The development of retail channels in hypermarkets, supermarkets, and convenience
stores has driven and funded the global expansion of this market. The large
share of this market mainly contributes to the rising number of supermarkets
& hypermarkets, consumers' likes for shopping from brick-and-mortar groceries,
and increasing consumer preference for vegan food products.
Meat Substitutes Market – Regional Insights
Based on region, the meat
substitutes market is divided into North America, Europe, Asia Pacific, Middle
East & Africa, and Latin America. Geographically, Europe captured a significant share of the global meat
substitute market in 2020. High awareness of protein-based food items and
increasing vegan & vegetarian populations are the major factors driving the
European meat substitutes market. However, the Asia-Pacific market is predicted
to grow at the highest CAGR during the forecast period due to increasing
government initiatives in the food R&D sector and the rising demand for
meat substitutes. Health benefits, animal welfare, environmental
welfare, affordability, and the growing variety of plant-based meat
products are all driving growth of the market in the Asia Pacific region.
In March 2021, Triton Algae
Innovations revealed that it would soon launch plant-based tuna to
showcase algae's alternative protein potential.
In March 2021, Loryma, a
company that develops and manufactures wheat-based food ingredients, came up
with a new concept for vegan fish foods. Multiple functional wheat
components, such as proteins and starches, work together to accurately
replicate fish muscle meat and provide a familiar taste in the mouth.
In December 2020, Axiom
Foods Launchednew versions of VegOtein TX Texturized Pea Protein for Vegan and
Processed Meats. “From cereals and snacks to baking biscuits, cookies, and vegan
or vegetarian ready meals, the additional functional possibilities are endless
The key players in the
Global Meat Substitutes Market are Wilmar International Limited, CRESPEL &
DEITERS, CHS INC., Suedzucker AG, MGP Ingredient INC., Puris, Sonic Biochem
Ltd., The Top Health Ingredients, The Emsland Group, Cargill, Roquette Frère,
Kerry, Ingredion, The Nisshin OilliO Group Ltd, Axiom Foods, Sotexpro S.A,
Archer Daniels Midland Company, DuPont Nutrition and Bioscience and other key
manufacturers. To retain a competitive advantage in the market, industry
players participate in extensions, partnerships, new product launches, and
acquisitions regularly. The top global players control the majority of the market
share. The presence of numerous substitutes in the market makes it moderately
difficult for new entrants to break into the market.
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain,
Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South
Africa, Saudi Arabia
By Type, BySource, By Category,
By Distribution Channel, By Region
Key players for Global Meat
Substitutes Marketare Wilmar International
Limited, CRESPEL & DEITERS, CHS INC., Suedzucker AG, MGP Ingredient INC.,
Puris, Sonic Biochem Ltd., The Top Health Ingredients, The Emsland Group,
Cargill, Roquette Frère, Kerry, Ingredion, The Nisshin OilliO Group Ltd,
Axiom Foods, Sotexpro S.A, Archer Daniels Midland Company, DuPont Nutrition
and Bioscience, and other key manufacturers.
Tofu & Tofu Products
Middle East & Africa
1. What is the current
size of the Global Meat Substitutes Market?
The global meat substitutes market reached USD 1.9
Billion in 2020.
2. What are the major
factors driving the growth of Global Meat Substitutes Market?
The major factors driving the growth of the global meat substitutes market are increasing cost of meat, health
awareness, and ethics related to saving the environment, which are driving
consumers to seek alternative sources for meat.
3. Who are the key players in the Global
Meat Substitutes Market?
The key players in the Global Meat Substitutes Market are Wilmar
International Limited, CRESPEL & DEITERS, CHS INC., Suedzucker AG, MGP
Ingredient INC., Puris, Sonic Biochem Ltd., The Top Health Ingredients, The
Emsland Group, Cargill, Roquette Frère, Kerry, Ingredion, The Nisshin OilliO
Group Ltd, Axiom Foods, Sotexpro S.A, Archer Daniels Midland Company, DuPont
Nutrition and Bioscience and other key manufacturers.
4. Which type accounted for the largest
share in the Global Meat Substitutes Market?
Seitanaccounted for the largest share in the Global Meat Substitutes Market.
5. Which Distribution
segment accounted for the largest share in Global Meat Substitutes Market?
The store-based sector is growing at a higher rate in the global meat substitutes