Meat Substitutes Global Market to Reach $2.9 Billion by 2030: Market Benefits from the Growing Popularity of Vegan & Flexitarian Diets

Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Meat Substitutes: Global Strategic Business Report" report has been added to's offering.

The global market for Meat Substitutes estimated at US$1.8 Billion in the year 2022, is projected to reach a revised size of US$2.9 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.

Tofu, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Tempeh segment is readjusted to a revised 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $536.4 Million, While China is Forecast to Grow at 5.2% CAGR

The Meat Substitutes market in the U.S. is estimated at US$536.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$497.3 Million by the year 2030 trailing a CAGR of 5.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 8.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.8% CAGR.

Select Competitors (Total 58 Featured) -

  • Amy`s Kitchen, Inc.
  • Archer Daniels Midland Company
  • Beyond Meat
  • Dow, Inc.
  • DuPont de Nemours, Inc.
  • Gardein
  • Meatless
  • MGP Ingredients, Inc.
  • Morningstar Farms L.C
  • Quorn Foods
  • Sonic Biochem Extraction Pvt., Ltd.
  • The Nisshin OilliO Group Ltd.
  • VBites Foods Limited

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Report Metrics:

Report AttributeDetails
No. of Pages331
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$1.8 Billion
Forecasted Market Value (USD) by 2030$2.9 Billion
Compound Annual Growth Rate6.1%
Regions CoveredGlobal

Key Topics Covered:




  • Influencer Market Insights
  • World Market Trajectories
  • Meat Substitutes - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • An Introduction to Meat Substitutes
  • Global Market Prospects & Outlook
  • Soy-based Ingredients: Largest Segment
  • Mass Merchandisers Emerge as a Preferred Distribution Channel
  • Developed Regions Lead, Developing Economies to Boost Growth



  • Meat Substitutes: Potential as Future of Non-Meat Foods
  • Health Benefits to Spur Demand for Meat Analogs
  • Market Benefits from the Growing Popularity of Vegan & Flexitarian Diets
  • Meat Substitutes: Potential Role in Addressing Global Food Security, Safety and Sustainability
  • Rising Demand for Plant-based Meat Products Among Millennials Boosts Market Prospects
  • Rising Incidence of Lifestyle Diseases and Chronic Medical Conditions Transform Dietary Preferences in Favor of Meat Substitutes
  • Rising Demand for Pea Protein Ingredients
  • Soy Protein: An Important Meat Substitute
  • Wheat Proteins Emerging as an Important Low-Fat Food
  • Growing Demand for Edible Fungus
  • Tofu: Widespread Use in Plant-based Burgers & Patties
  • Tempeh Market Benefits from Health Benefits of Fermented Foods
  • Technological Advancements in Processing and Extrusion Processes to Boost Market
  • Challenges Facing Meat Substitutes Market




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Global Market for Meat Substitutes

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