Meat Substitutes Market Opportunities, Trends, Growth Analysis and Forecast to 2027

Access and explore the following growth opportunities and market analysis in our ‘Meat Substitutes Market’ report:

• Sector overview: Provides an overview of current scenarios in terms of ingredients, manufacturer claims, labeling, and packaging.
• Regional overview: highlighting sector size, growth influences, latest developments, and future challenges for each region. This data includes only off-trade data.
• Change in consumption: Provides a shift in the consumption of meat substitutes over 2017-2027 at global and regional levels.
• High-potential countries: Provides risk-reward analysis of the top four high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure. These countries represent the markets with the best growth opportunities in their respective regions.
• Country and regional analysis: Provides deep-dive analysis of 10 high-potential countries, two from each region, covering value growth over 2022-27. Provides a regional overview across – Asia-Pacific, Middle East and Africa, the Americas, Western Europe, and Eastern Europe, including key challenges, consumer demographics, and key trends for each region. Market size includes off-trade data, while the discussion includes both on-trade and off-trade data to provide a better perspective to the user.
• Competitive landscape: Provides an overview of the largest brands at global, regional, and category levels, besides analyzing the product profile, country-level presence, market share, and growth of private labels in each region.
• Key distribution channels: Provides analysis of the largest distribution channels in the global meat substitutes sector in 2022. It covers “dollar stores”, variety stores & general merchandise retailers, cash & carries and warehouse clubs, convenience stores, department stores, e-retailers, food & drinks specialists, hypermarkets & supermarkets, and other retailers.

 How is the ‘Meat Substitutes Market’ report different from other reports in the market?

• Manufacturing and retailers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape, and demographic analysis, that can help companies gain insight into the country-specific nuances
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.

We recommend this valuable source of information to anyone involved in:

• Retailers/Suppliers/White-label Manufacturers
• Food companies/Meat companies
• ​Meat Substitutes Manufacturers and Packaging Companies
• Startups/Strategy, Innovation, Marketing, and Business Development
• Market Intelligence and Portfolio Managers
• Professional Services – Investment Banks, PE/VC Firms
• Management Consultants and Consulting Firms

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Meat Substitutes Market Report Overview

The meat substitutes market size was valued at $7.4 billion in 2022. The pandemic elevated consumers’ concerns about health and the safety of animal meat, causing a stronger transition to flexitarian and vegan diets with more plant-based meat. Furthermore, consumers are increasingly concerned about the high greenhouse gas emissions and resource-intensiveness of the livestock industry, due to climate change. These factors will aid the meat substitutes market to record a CAGR of more than 12% during 2022-2027.

Meat Substitutes Market Outlook 2022-2027 ($ Billion)

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The meat substitutes market report comprises a comprehensive overview of the global meat substitutes sector. It includes an overall sector overview, insights on changes in consumption patterns, a list of high-potential countries, and a competitive landscape. The report also provides an overview of the current meat substitute scenario regarding the outlook in terms of ingredients, product claims, labeling, distribution, and packaging. The analysis also covers a regional overview across five regions including Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.

Meat Substitutes Market Segmentation by Category

The key categories in the meat substitutes market are soy-based, grain-based, , single cell protein (fungi/algae). In 2022, the soy-based category dominated the meat substitutes market share. Print/digital media coverage on animal cruelty in the meat industry is also spurring demand for meatless meat. Moreover, the availability of a growing range of meat substitutes in versatile formats in retail stores and food service venues is bolstering consumer awareness about meat substitutes.

Meat Substitutes Market Analysis by Category, 2022 (%)

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Meat Substitutes Market Segmentation by Regions and Countries

The key regions in the meat substitutes market are Asia-Pacific, Western Europe, Eastern Europe, the Americas, and Middle East and Africa. In 2022, the Americas segment accounted for the largest revenues in the meat substitutes market. More and more consumers are reducing their meat intake to reduce the risk of diseases, such as obesity. Additionally, media reports and celebrity influencers are raising awareness about environmental degradation and animal cruelty in the meat industry and promoting vegan lifestyles and flexitarian diets. The US emerged as the largest revenue-generating economy for the meat substitutes market in the region.

The key high-potential countries in the meat substitutes market are Australia, New Zealand, Canada, US, Switzerland, Austria, Poland, Slovakia, Israel, and Nigeria.

Meat Substitutes Market Analysis by Region, 2022 (%)

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Meat Substitutes Market Segmentation by Distribution Channel

The key distribution channels in the meat substitutes market are hypermarkets & supermarkets, convenience stores, e-retailers, food & drink specialists, and cash & carries and warehouse clubs among others. In 2022, the hypermarkets & supermarkets emerged as the leaders with the highest meat substitutes market value, followed by convenience stores.

Meat Substitutes Market Analysis by Distribution Channel, 2022 (%)

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Meat Substitutes Market – Competitive Landscape

The key companies in the meat substitutes market are Kellogg’s Company, Monde Nissin, Conagra Brands, Inc, Beyond Meat Inc, The Tofurky Company, Inc, Maple Leaf Foods Inc., TOPAS GmbH, Private Label, and Others. In 2022, Kellogg’s Company led the meat substitutes market with the highest contribution share by value.

Meat Substitutes Market Analysis by Companies, 2022 (%)

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Segments Covered in the Report

Meat Substitutes Categories Outlook (Value, $ Billion, 2017-2027)

• Soy-based
• Grain-based
• Vegetable/Plant-based Proteins
• Single Cell Protein (Fungi/Algae)

Meat Substitutes Regional Outlook (Value, $ Billion, 2017-2027)

• Asia-Pacific
• Western Europe
• Eastern Europe
• The Americas
• Middle East and Africa

Meat Substitutes Distribution Channel Outlook (Value, $ Billion, 2017-2027)

• Hypermarkets & Supermarkets
• Convenience Stores
• E-Retailers
• Food & Drink Specialists
• Cash & Carries And Warehouse Clubs