WASHINGTON, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the global Meat Substitute Market will grow at a CAGR of 12.90% during the forecast period of 2022 to 2028.
Vantage Market Research has recently published a Report, titled, Meat Substitute Market The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. The meat substitute report provides a list of leading competitors, strategic industry analysis, and insights into key factors influencing the meat substitute industry. The market analysis and insights included in this meat substitute market research report offer key statistics on the market status of global and regional manufacturers and are an imperative source of guidance that provides the right direction to the companies and individuals interested in the industry. This meat substitute report is also all-embracing of the data which includes market definition, classifications, applications, engagements, market drivers, and market restraints that are obtained with the help of SWOT analysis.
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Synopsis:
Nowadays, consumers are very cautious about their health owing to the growth in obesity cases and other diseases like diabetes, and cardiac diseases, so the consumers are changing their daily food habits and are including a healthy diet in their day-to-day life which is expected to fuel the growth of Meat Substitute Market during the forecast period. Moreover, the increasing health concerns and the changing consumer awareness have increased the demand for Meat Substitute Market products during the forecast period. The increasing awareness about the benefits of a vegan diet among consumers is one of the major factors boosting the demand for plant-sourced meat products globally. The increasing flexitarian and vegan population across the world and the rising adoption of plant-based food among consumers are the other major factors expected to drive the growth of the Meat Substitute Market in the coming years. The increasing government initiatives and growth in the investments from several companies in the plant-based protein ingredient market are further projected to boost the market growth in upcoming years. The growing technological advancement in processes and extrusion is expected to provide a major opportunity for the further growth of the Meat Substitute Market in the coming years. Besides, the growing market of insect protein and cultured meat could hamper the growth of the Meat Substitute Market during the forecast period.
List of Prominent Players in the Meat Substitute Market:
- DuPont (US)
- ADM (US)
- Kerry Group (Ireland)
- Ingredion Incorporated (US)
- Roquette Frères (France)
- PURIS (US)
- Cargill (US)
- Axiom Foods (US)
- Sonic Bio chem Ltd (India)
- Crespel & Deiters (Germany)
- Wilmar International Limited (Singapore)
- Sotexpro S.A (France)
- The Nisshin OilliO Group
- Ltd (Japan)
- A&B Ingredients (Canada)
- Batory Foods (US)
- All Organic Treasures GMBH (Germany)
- The Green Labs LLC (US)
- Shandong Jianyuan Group (China)
- ET Chem (China)
- Beneo (Germany)
For Additional Information on Meat Substitute Market Players and Detail List, Download a Report PDF Brochure
Market Dynamics:
Drivers:
The increasing investments done by the major food industry pioneers in the plant-based protein ingredients have a positive impact on the Meat Substitute Market and are driving the market growth during the forecast period. The increasing environmental sustainability and animal welfare are the major factors driving the growth of the Meat Substitute Market during the forecast period. Moreover, the growing surge in the demand for natural products and clean labels, increasing development, innovations, and product diversity are the other major factors expected to drive the Meat Substitute Market growth in the upcoming years.
Challenges:
The increasing prices of raw materials which is increasing the prices of final Meat Substitute Market products is the major challenge expected to hinder the Meat Substitute Market growth during the forecast period. The growing allergy concerns among the consumers for wheat and soy products along with the perception of taste is the other prime factor that is expected to hamper the overall Meat Substitute Market growth in coming years.
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Regional Trends:
Asia Pacific region is projected to grow at a considerable CAGR during the forecast period. The growth in the Asia Pacific region is primarily attributed to increasing awareness among consumers about healthy dietary habits and maintaining fitness during the forecast period. The increasing environmental safety, animal welfare, health benefits, cost affordability, and increase in the variety of plant-based meat products are the major factors driving the growth of the Meat Substitute Market in the Asia Pacific region. The growth in awareness about global animal welfare organizations like peoples coming for the Ethical Treatment for Animals (PETA) which has led the people to consider a meat-free diet in daily meals has expected to affect the market in a positive way and therefore increase the growth of the market in coming years. Whereas the non-meat-based meal is previously popular in Asia, along with tofu which is extensively used in Asian cuisines, and bean-based congees are extensively consumed in countries like China, this is the reason for the Asia Pacific region for becoming the fastest-growing potential market for the Meat Substitute Market.
Recent Developments:
In 2020, Conagra Brands has prolonged its Gardein meat-free portfolio in the United States by introducing the latest plant-based burger patty. The product contains a pea protein and the 4oz patties feature 19g of protein per serving.
The report on the Meat Substitute Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/meat-substitute-market-1369
Segments Covered
By Product
- Tofu, Tempeh, Seitan, Quorn, Other types (risofu, valess, and lupine)
By Source
- Wheat protein, Pea protein, Other sources
By Type
- Isolates, Concentrates, Textured
By Form
- Solid, Liquid
Browse market data Tables and Figures spread through 135 Pages and in-depth TOC on Meat Substitute Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 1,845.20 Million |
| Revenue Forecast by 2028 | USD 3,821.26 Million |
| CAGR | 12.90% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | DuPont, ADM, Kerry Group, Ingredion Incorporated, Roquette Frères, PURIS, Cargill, Axiom Foods, Sonic Biochem Ltd, Crespel & Deiters, Wilmar International Limited, Sotexpro S.A, The Nisshin OilliO Group Ltd., A&B Ingredients, Batory Foods, All Organic Treasures GMBH, The Green Labs LLC, Shandong Jianyuan Group, ET Chem, Beneo |
Customization of the Report:
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