Meat Substitute Market 2018| Growth Opportunities, Business Insights and Forecast To 2025

 

Meat substitute market

A meatless food that resembles foods derived from meat, fish, and poultry in terms of appearance, flavor, and texture is referred to as a substitute meat analogue. The majority of the ingredients are vegetarian, while dairy items are occasionally omitted. The vegetarian community uses meat because they do not prefer to consume meat due to health, animal welfare, or environmental concerns. Meat Substitute Market for meat substitutes is expanding due to the health benefits linked with it, including its ability to aid in weight loss, preserve bones, and maintain appropriate blood sugar levels.

Plant-based meat replacements, for example, are not suitable for everyone, particularly for those who are gluten sensitive or intolerant. Increased intestinal permeability and gut inflammation may result from such an allergy, which is a significant factor impeding the expansion of the meat substitute business.

The global Meat Substitute Market was valued at US$ 3.9 billion in 2016, and is expected to expand at a CAGR of 7.6% in terms of revenue, during 2018– 2025

Some segments of society have opposed intensive animal husbandry due to its detrimental effects on the environment and animal welfare. Diets that limit or forbid the consumption of animal products have become popular as a result of this. The Meat Substitute Market for meat replacements is predicted to rise as a result of this. Due to growing consumer health consciousness, the COVID-19 pandemic has had a significant influence on traditional meat consumption patterns. Another significant element driving the rise of these goods in many locations is the health benefit associated with cholesterol-free protein. Customers' worries and manufacturers' capacity to produce meat alternatives with superior flavor, texture, and mouth feel features are a combination that has led to the massive expansion in the market for meat substitutes. Demand for this sector is being driven by Millennial and Gen Z, who are often motivated by worries about human and animal welfare as well as environmental issues. To provide products in this category, many producers have been working with brands.

For instance, to provide meatless products in India in December 2021, Tokyo-based Next Meats joined together with Vegan Meat India. Additionally, a wide variety of products gives customers more choices and inventive flavours while still satisfying their dietary requirements. Plant-based alternatives are being investigated by consumers who are not vegetarians or vegans for a variety of reasons, including better nutrition, managing weight, animal welfare, and long-term environmental sustainability. The Good Food Institute reports that in 2019, 11.9% of American families purchased plant-based meat, an increase from 10.5% in 2018.

Key Figures

Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), The Hain Celestial Group, Inc.