“Meat Substitute Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Meat Substitute Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in Meat Substitute Market Research Report 2019-2023:
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Meat Substitute market reports provide a comprehensive overview of the worldwide market size and share. Meat Substitute market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of Meat Substitute Market Report:
The global meat substitute market is expected to register a CAGR of 5.8% during the forecast period, 2018-2023. Currently, the global campaign of go vegetarian is the most powerful influencer of the demand for such products. Health benefits of this cholesterol-free protein, with meat-like texture, is the main factor promoting the growth of meat substitute products. Soy-based products such as tofu, miso, yaso, natto, and seitan are fast becoming popular among consumers. For market growth, product innovation and artificial meat taste are incorporated in the meat substitute products.
• Soylent is a brand that launched a new product like chewable nutrition bar. The food bar is nut-free, vegan, and lactose-free, and uses soy protein, algal flour, beet sugar, and other vitamins and minerals. Sporting a label of “food bar,” the new product promises to fill 12.5 percent of a persons daily caloric needs.
• Development of nutrient supplements like FortiSoy™ for infant nutrition and other products for pregnant women, have helped increase the health profile of both mother and child.
• California start-up brings meatless burger to Asia: Impossible Foods, which makes a product that tastes like ground beef, but is made from plants, is on the road to diversify its product portfolio to include something similar to steak. The companys new target will be Asia, after gaining attention for its food technology in Silicon Valley, where it attracted funds from big names.
Veganism is the New Fad
Veganism is trending, as people are up to find that the plant-based proteins are complete proteins, if eaten in the right combination for the right body type. They can work better than animal protein, mainly because of the absence of hormones and enzymes. Going vegan and consuming plant protein, has shown extraordinary results in reduction of cholesterol, treating PCOS and preventing menopausal complications. Around 13% of the millennial are vegetarians and 4% are vegans who avoid dairy products, thus, resulting in increased demand for the most suitable alternative like soy and pea protein. These inclination trends towards plant-based diet are associated with different factors, such as sustainability issue, health awareness, ethical or religious views, environmental and animal rights.
Soy-based Meat Substitutes are the Most Popular
Soy is the most common source of meat substitutes in Asia-Pacific. Increasing demand for tofu from food service and beverage manufacturers depicts its popularity. Soy-based products are rich in amino acids, vitamins, fibers, omega-3, and flavones, in addition to being cholesterol-free and low in saturated fat. Soya meat is extremely rich in protein, with a protein content over 50%. Owing to these advantages, soy-based meat substitutes are anticipated to increase their market presence. A hydrolyzed or textured soy “veggie” burger is a meat analogue, mostly because the taste and texture is similar to meat. The transition from animal protein to plant protein can be possible only in a gradual, smooth and orderly fashion by utilizing high protein mixture, isolated protein and concentrated proteins from plant sources. Soy meat alternatives are closer to the taste and texture of meat, than in the past, because of newer technology. These developments have led to increased demand of these substitutes from the consumers.
Asia-Pacific is the Fastest Growing Region
Europe is the largest market for meat substitute products, by revenue, accounting for 39% of the global market share. Asia-Pacific is the fastest-growing region registering a 5.3% CAGR, due to the huge support from the large population, rising urbanization, increasing incomes and rapid adaptation of processed foods in the market.
Quorn Foods Ltd., Amys Kitchen, Inc., and Cauldron Foods Have a Dominant Presence
Major Players – AMYS KITCHEN INC., BEYOND MEAT, BLUE CHIP GROUP, CAULDRON FOODS, GARDEN PROTEIN INTERNATIONAL INC., IMPOSSIBLE FOODS, MEATLESS BV, MGP INGREDIENTS INC., MORNINGSTAR FARMS, NISSHIN OLLIO GROUP, QUORN FOODS, SONIC BIOCHEM EXTRACTIONS LTD, THE NISSHIN OLLIO GROUP LTD and VBITES FOODS LTD, among others.
There is moderate competition in the meat substitute market. The top global players account for majority of the market share, with the rest being fragmented among small and regional players, across the world. The market entry for new players is moderately difficult, due to the availability of high number of alternatives in the market. New product launches that include innovative flavors, textures, organic, and non-GMA products, and mergers & acquisitions with local players have been strong business strategies for market growth. Various players are entering the market, to tap the untapped potential of the region. An advanced distribution network gives an upper edge to the manufacturers.
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Reasons to Purchase this Report
Valuable Points from Meat Substitute Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Meat Substitute Market.
- Significant changes in Market dynamics.
- Meat Substitute Market segmentation according to Top Regions.
- Current, Historical, and projected size of the Meat Substitute Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Meat Substitute Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Meat Substitute Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the Market.
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Highlights of the following key factors:
- Business description –A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Meat Substitute Market Research Report 2019-2023:
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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