Meat Substitutes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2028

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Global Meat Substitutes Market was valued at USD 5.06 Billion in 2021 and is expected to reach USD 7.31 Billion by the year 2028, at a CAGR of 5.4%.

Meat substitute referred to as meat analog, mock meat, cultured meat, faux meat, or meat alternatives a healthy replacement of meat that resembles chemical characteristics and aesthetic qualities such as flavor, taste, appearance, and the basic texture of meat. Such products can be in the form of sausages, burgers, ground meat, nuggets, or seafood. In addition, plant-based meat products are becoming increasingly popular. An extensive range of foods can be utilized as meat substitutes, and the relevance of these items in cuisine studies has act a key role in market growth. Livestock production is often recognized as a complex business that involves the management of animal waste and slaughtering. Moreover, the possibilities of food contagion are high along the supply chain, especially in the case of expensive refrigeration and unreliable power supplies.  Moreover, cashing in on the rising health consciousness of the people, shift in dietary plans, the recent pandemic of animal diseases, and the need for an alternative to meat due to harmful effects of over-consumption of meat, the meat substitute market is anticipated to witness considerable growth in this sector.

The research goes into detail on the elements that drive market growth, including significant opportunities, growth drivers, as well as opportunities. Furthermore, it builds on previous data and the present business environment to forecast the industry's performance from 2020 to 2025. The study includes an extensive analysis of the workings of this business industry at regional and country levels in order to assess the industry size at a global level. Further, the study literature examines the dominating actors and assesses the techniques they use to maintain their position in the competitive arena. The present and predicted impact of the Covid-19 epidemic has also been considered, with a particular focus on income-generating opportunities and techniques to deal with the shifting situation.

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Key Industry Players in the Meat Substitutes Market:

  • AB Ingredients (Canada)
  • Cargill Incorporated (US)
  • DowDuPont Inc. (US)
  • Archer Daniels Midland Company (US)
  • Kerry Group (Ireland)
  • Ingredion Incorporated (US)
  • Amy's Kitchen Inc. (US)
  • Roquette Frères (France)
  • PURIS (US)
  • The Nisshin OilliO Group Ltd (Japan)
  • Axiom Foods (US)
  • Beneo (Germany)
  • MGP Ingredients Inc. (US)
  • The Top Health Ingredients (Canada)
  • Sonic Biochem Ltd (India)
  • VBites Foods Limited (UK)
  • Crespel Deiters (Germany)
  • Quorn Foods (UK)
  • Wilmar International Limited (Singapore)
  • Sotexpro S.A (France)
  • Batory Foods (US)
  • Morningstar Farms L.C. (US)
  • All Organic Treasures GMBH (Germany)
  • The Green Labs LLC (US)
  • Shandong Jianyuan Group (China)
  • ET Chem (China)
  • Beyond Meat (US)
  • Gardein
  • Meatless (Canada) and others major key players.

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2012 to 2028. For the purpose of this study, Grand View Research has segmented the global meat substitute market report on the basis of type, category, distribution channel, and region:

Segmentation Analysis Includes,

By Type:

  • Tofu
  • Seitan
  • Quorn
  • Others

By Category:

  • Automotive Transportation
  • Agriculture
  • Industrial
  • Oil Gas
  • Other

By Distribution Channels:

  • Online
  • Offline

By Region:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

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Effective Points Covered in Meat Substitutes Market Report: -

  • Details Competitor analysis with accurate, up-to-date demand-side dynamics information.
  • Standard performance against major competitors.
  • Identify the growth segment of your investment.
  • Understanding most recent innovative development and supply chain pattern.
  • Establish regional / national strategy based on statistics.
  • Develop strategies based on future development possibilities.

While the influence of the COVID-19 pandemic triggered food insecurity, industry players exhibited profound traction for clean meat products. The outbreak disrupted the supply chain of pea and soy and had a notable influence on processed food manufacturing. Meanwhile, the rising footprint of the e-commerce industry augured well for the industry outlook—growing preference for online stores amidst the pandemic prompted investments across emerging and advanced economies.

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Knowing market share in the base year provides you an idea of the competition and size of the suppliers. It reflects the market's fragmentation, accumulation, dominance, and amalgamation features. The Competitive Scenario provides an outlook study of the suppliers' various industry growth plans. This section's news provides vital insights at various stages while keeping up with the industry and engaging players in the economic discussion. Merger Acquisition, Collaboration, Partnership, Agreement, Investment Funding, New Product Launch Enhancement, Recognition, Rewards Expansion are the categories that the competitive scenario represents.

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