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Meat Substitute Market - Growth, Global Forecast, 2018-2025

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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
Meat Substitute Market - Global Industry Insight,
Trends, Outlook, and Opportunity Analysis 20182025
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REPORT DESCRIPTION
Meat Substitute Market Overview
Meat substitute also called as meat analogue is a meatless food that has similar appearance, taste, and texture as
food made from meat, fish, and poultry. It is majorly made from non-meat ingredients and sometimes without
using dairy products. The meat substitutes serve to vegetarian population, as they do not prefer meat consumption
due to health, animals or environmental concern. Various health benefits associated with meat substitute such as
aid in weight loss, preservation of bones, and maintaining normal blood sugar are some of the factors fueling
growth of the meat substitute market.
Meat substitutes such as plant-based meat substitutes are not suitable for everyone and especially to gluten
intolerant or sensitive individuals. Such allergy may lead to increased intestinal permeability and gut
inflammation, which is major factor hindering the meat substitute market growth.
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. Meat substitutes are healthy, cholesterol free, low cost, and have
meat-like texture, color, and taste along with long shelf life, which is driving growth of the global meat substitutes
market.
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REPORT DESCRIPTION
Meat Substitute Market: Dynamics
Increasing consumer preference for meat substitutes due to benefits offered by meat substitutes such as low
cost, low calorie intake and meat-like texture, color, and taste along with long shelf life are the factors driving
growth of the global meat substitutes market.
North America is also expected to exhibit positive growth in the meat substitute market over the forecast
period. Key factors such as bulk availability of raw materials, increasing population, and high consumption of
non-meat products are creating immense opportunities for growth of the market.
Asia pacific held significant market share in the global meat substitute market owing to rising consumer
awareness about health benefits of the meat substitutes in the region. Meat substitutes offer health benefits such
as it lowers the cholesterol level, boosts heart health, and stronger bones.
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REPORT DESCRIPTION
Meat Substitute Market: Regional Insights
Europe accounted for the largest revenue share of 33% in the global meat substitute market in 2017, and is
expected to maintain its dominance over the forecast period. This is attributed to increasing awareness about
health benefits of the meat substitutes. Meat substitutes such as tempeh which is a high source of calcium,
vitamins, minerals and antioxidants that help to lower cholesterol levels thus people prefer meat substitutes.
North America is expected to account for fastest growing market share in the global meat substitute market, in
terms of revenue over the forecast period. This is attributed to increasing consumer preference for meat
substitutes and decreasing consumption of meat, owing to rising concern regarding animal welfare among
consumers. According to the United States Department of Agriculture, in 2014, the aggregate poultry, red meat,
fish, edible basis fell to 181 pounds per person since 1983. Furthermore, market players are focused on new
product launches for gaining the demand for meat substitutes in the region. For instance, in July 2018, Beyond
Meat launched new types of plant-based meat burgers that are similar to meat-based burgers in taste, appearance,
and smell. Such R&D activities by key players is boosting growth of the market.
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