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Meat Substitute Market by Product Type (Tofu, TVP, Burger Patties, Sausages, Meatballs, Nuggets), Source (Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) - Global Forecast To 2027
Report ID: MRFB - 104267 Pages: 161 Sep-2020 Formats*: PDF Category: Food and Beverages Delivery: 2 to 4 Hours Download Free Sample ReportThe Meat Substitute Market is expected to reach $17.5 billion by 2027, at a CAGR of 15.1% during the forecast period of 2020 to 2027. Due to the COVID-19 pandemic, there has been an exponential rise in demand for healthy protein foods. In addition, rising intolerance for animal protein, rising awareness about a healthy diet, increasing vegan population, and rising venture capital investments are the major factors accelerating the growth of this market. Moreover, the growing focus on R&D and new product launches by alternative protein manufacturers and growing demand from emerging economies are expected to create lucrative opportunities for players operating in this market.
The COVID-19 pandemic has affected more than 200 countries infecting more than 11,874,226 people and killing 545,481 as of 9th July 2020 (Source: European Centre for Disease Prevention and Control). This current situation has had a substantial impact on the traditional meat processing industry, which has led to many slaughterhouses closing shops due to disruption of the supply chain.
The meat supply in the U.S. is expected to be flogged by the COVID-19 outbreak, as major meat plants have been taken offline as factory workers have tested positive for the virus. It is estimated that meat plants responsible for 10% of all beef production in the U.S. and 25% of all pork production have closed in early 2020, with this having the potential to disrupt meat supply chains and lead to shortages. This potential shortage of meat supply is already leading to augment consumer demand for meat substitute in the U.S., with meat substitute sales reported to have jumped 200% in the country in April, compared to last year.
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Consumer Preference for Soy and Gluten-free Products
The “free-from” is one of the fastest-growing trends in niche foods. Soy and a gluten-free diet has quickly become the fastest-growing nutritional movements, which is gaining popularity for its health and therapeutic benefits. The increase in the use of soy and gluten-free food products is mainly attributed to rising food sensitivities, regional dietary preferences, and increasing diagnosis of coeliac diseases. For instance, many people have allergies and intolerance of soy protein resulting in eye irritation, stomach upsets, and other symptoms, which in some cases require hospitalization.
The increasing demand for gluten-free products is mainly associated with increasing instances of diseases. However, the number of people who actually need to avoid gluten for medical reasons is relatively small. As a result, some of the people are avoiding food products containing or fortified with soy and wheat ingredients. Thus, rising consumer preference towards soy-free food products across the globe restricts the growth of the soy and wheat protein-based meat substitutes market to some extent.
In 2020, the plant-based tofu segment dominated the global meat substitute market
Based on product type, the tofu segment accounted for the largest share of the market due to its low cost, easy availability, and presence of a wide variety of tofu types and flavors. However, the burger patties segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing popularity and new product launches in the plant-based burger patties segment and their increasing availability in many restaurants.
The pea protein segment to witness the fastest growth during the forecast period
Based on source, the pea protein segment is expected to grow at the fastest CAGR during the forecast period due to growing consumer desire to find sustainable and good tasting alternatives to animal-based proteins and growing investments from leading manufacturers.
In 2020, the business to customers segment dominated the global meat substitute market
Based on distribution channel, the B2C segment commanded the largest share of the global meat substitute market in 2020. The large share of this market is mainly attributed to the growing number of supermarkets & hypermarkets, consumers preference for shopping from brick-and-mortar grocers, and increasing consumer preference for vegan food products.
The Asia-Pacific market is poised to grow at the highest CAGR during the forecast period
On the basis of region, the global meat substitute market is segmented into North America, Europe, APAC, Latin America, and the Middle and Africa. The APAC region is expected to grow at the highest CAGR during the forecast period. The rapid growth in urbanization, rising income levels, and growing awareness about the benefits of protein diet in daily nutrition are the drivers for this market.
Key Players
The meat substitute market is highly fragmented in nature with the presence of many small and medium-sized private companies in the market. Some of the key vendors operating in the global meat substitute market are 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. (U.S.), Sahmyook Foods (South Korea), Axiom Foods (U.S.), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), and Nutrisoy Pty Ltd. (Australia).
Scope of the report
Meat Substitute Market, by Product Type
Meat Substitute Market, by Source
Meat Substitute Market, by Distribution Channel
Meat Substitute Market, by Geography
Key questions answered in the report:
1. Introduction
1.1. Market Definition
1.2. Currency
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
3.1. Introduction
3.2. Segment Analysis
3.2.1. Type Analysis
3.2.2. Source Analysis
3.2.3. Distribution Channel Analysis
3.2.3.1. B2C Distribution Channels Market
3.2.4. Regional Analysis
3.2.5. Competitive Landscape & Market Competitors
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Intolerance for Animal Proteins
4.2.2. Growing Preference for Meat Substitute Products
4.2.3. Growing Investments in Meat Substitutes
4.2.4. Increasing Vegan and Vegetarian Population
4.3. Restraints
4.3.1. Expensive Meat Substitutes
4.3.2. Preference for Animal-Based Products
4.3.3. Growing Preference for Soy and Gluten-Free Products
4.4. Opportunities
4.4.1. Emerging Economies
4.5. Trends
4.5.1. Mergers and Acquisitions in the Meat Substitutes Market
5. Covid-19 Impact on the Meat Substitutes Market
6. Investment and Funding Scenario in the Meat Substitutes Market
6.1. Introduction
6.2. Investments/Funding Scenario
7. Global Meat Substitutes Market, by Type
7.1. Introduction
7.2. Tofu
7.3. Textured Vegetable Protein (TVP)
7.4. Tempeh
7.5. Seitan
7.6. Burger Patties
7.7. Sausages
7.8. Ground Meat
7.9. Meatballs
7.10. Nuggets
7.11. Crumbles
7.12. Other Meat Substitutes
8. Global Meat Substitutes Market, by Source
8.1. Introduction
8.2. Soy Protein
8.3. Wheat Protein
8.4. Pea Protein
8.5. Almond Protein
8.6. Rice Protein
8.7. Other Sources
9. Global Meat Substitutes Market, by Distribution Channel
9.1. Introduction
9.2. Business-To-Consumer (B2C)
9.2.1. Modern Groceries
9.2.2. Convenience Stores
9.2.3. Specialty Stores
9.2.4. Online Retail
9.2.5. Others
9.3. Business-To-Business (B2B)
10. Meat Substitutes Market, by Geography
10.1. Introduction
10.2. Europe
10.2.1. U.K.
10.2.2. Germany
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. North America
10.3.1. U.S.
10.3.2. Canada
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Rest of Asia-Pacific
10.5. Latin America
10.6. Middle East and Africa
11. Competitive Landscape
11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
12. Company Profiles (Business Overview, Product Portfolio, Financial Overview, and Strategic Developments)
12.1. Beyond Meat, Inc.
12.2. Impossible Foods, Inc.
12.3. Garden Protein International Inc. (A Part of Conagra Brands, Inc.)
12.4. Amy's Kitchen, Inc.
12.5. The Hain Celestial Group, Inc.
12.6. Sahmyook Foods
12.7. Axiom Foods, Inc.
12.8. Lightlife Foods, Inc. (A Part of Maple Leaf Foods, Inc.)
12.9. Marlow Foods, Ltd. (Part of Monde Nissin Corporation)
12.10. Taifun-Tofu GmbH
12.11. Atlantic Natural Foods, LLC (Part of Aft Holdings, Inc.)
12.12. Vbites Food, Ltd.
12.13. Nutrisoy Pty, Ltd.
13. Appendix
13.1. Questionnaire
13.2. Available Customization
List of Tables
Table 1 Global Meat Substitutes Market Drivers: Impact Analysis (2020–2027)
Table 2 Global Meat Substitutes Market Restraints: Impact Analysis (2020–2027)
Table 3 Price Comparison between Meat and Meatless Items at Fast-Food Chains
Table 4 List of Recent Mergers and Acquisitions in Meat Substitute Space (2017-2020)
Table 5 Global Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 6 Global Plant-Based Tofu Market Size, by Country/Region, 2018-2027 ($Million)
Table 7 Global Plant-Based TVP Market Size, by Country/Region, 2018-2027 ($Million)
Table 8 Global Plant-Based Tempeh Market Size, by Country/Region, 2018-2027 ($Million)
Table 9 Global Plant-Based Seitan Market Size, by Country/Region, 2018-2027 ($Million)
Table 10 Global Plant-Based Burger Patties Market Size, by Country/Region, 2018-2027 ($Million)
Table 11 Global Plant-Based Sausages Market Size, by Country/Region, 2018-2027 ($Million)
Table 12 Global Plant-Based Ground Meat Market Size, by Country/Region, 2018-2027 ($Million)
Table 13 Global Plant-Based Meatballs Market Size, by Country/Region, 2018-2027 ($Million)
Table 14 Global Plant-Based Nuggets Market Size, by Country/Region, 2018-2027 ($Million)
Table 15 Global Plant-Based Crumbles Market Size, by Country/Region, 2018-2027 ($Million)
Table 16 Global Other Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 17 Global Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 18 Soy Protein-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 19 Wheat Protein-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 20 Pea Protein-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 21 Almond Protein-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 22 Rice Protein-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 23 Other Sources-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 24 Global Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 25 Global B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 26 Global B2C Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 27 Global B2C Meat Substitutes Market for Modern Groceries, by Country/Region, 2018-2027 ($Million)
Table 28 Global B2C Meat Substitutes Market Size for Convenience Stores, By Country/Region, 2018-2027 ($Million)
Table 29 Global B2C Meat Substitutes Market Size for Specialty Stores, By Country/Region, 2018-2027 ($Million)
Table 30 Global B2C Meat Substitutes Market Size for Online Retail, by Country/Region, 2018-2027 ($Million)
Table 31 Global B2C Meat Substitutes Market Size for Other Channels, by Country/Region, 2018-2027 ($Million)
Table 32 Global B2B Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 33 Global Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 34 Europe: Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 35 Europe: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 36 Europe: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 37 Europe: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 38 Europe: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 39 U.K.: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 40 U.K.: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 41 U.K.: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 42 U.K.: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 43 Germany: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 44 Germany: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 45 Germany: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 46 Germany: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 47 France: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 48 France: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 49 France: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 50 France: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 51 Italy: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 52 Italy: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 53 Italy: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 54 Italy: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 55 Spain: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 56 Spain: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 57 Spain: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 58 Spain: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 59 Rest of Europe: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 60 Rest of Europe: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 61 Rest of Europe: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 62 Rest of Europe: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 63 North America: Meat Substitutes Market Size, by Country, 2018-2027 ($Million)
Table 64 North America: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 65 North America: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 66 North America: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 67 North America: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 68 U.S.: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 69 U.S.: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 70 U.S.: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 71 U.S.: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 72 Canada: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 73 Canada: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 74 Canada: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 75 Canada: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 76 Asia-Pacific: Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)
Table 77 Asia-Pacific: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 78 Asia-Pacific: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 79 Asia-Pacific: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 80 Asia-Pacific: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 81 China: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 82 China: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 83 China: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 84 China: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 85 Japan: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 86 Japan: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 87 Japan: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 88 Japan: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 89 India: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 90 India: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 91 India: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 92 India: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 93 Rest of Asia-Pacific: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 94 Rest of Asia-Pacific: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 95 Rest of Asia-Pacific: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 96 Rest of Asia-Pacific: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 97 Latin America: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 98 Latin America: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 99 Latin America: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 100 Latin America: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 101 Middle East and Africa: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 102 Middle East and Africa: Meat Substitutes Market Size, by Source, 2018-2027 ($Million)
Table 103 Middle East and Africa: Meat Substitutes Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 104 Middle East and Africa: B2C Meat Substitutes Market Size, by Type, 2018-2027 ($Million)
Table 105 Total Number of Recent Developments, by Company, 2017-2020 127
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 Tofu Accounted for the Largest Share of the Market in 2019
Figure 8 Pea Proteins to Witness the Highest Growth during the Forecast Period
Figure 9 B2C to Witness Significant Growth during the Forecast Period
Figure 10 Global Meat Substitutes Market Scenario, by Geography, 2019
Figure 11 Market Dynamics
Figure 12 A Lighthouse for the Future Food Consumption
Figure 13 Leading Meat Producers Hedge against Animal Free Future
Figure 14 Current Prices of Different Food Types
Figure 15 Global Meat Substitutes Market Size, by Type, 2020-2027 ($Million)
Figure 16 Global Meat Substitutes Market Size, by Source, 2020-2027 ($Million)
Figure 17 Meat Substitute: Value Chain with Key Business Activities and Players Within
Figure 18 Global Meat Substitutes Market Size, by Distribution Channel, 2020-2027 ($Million)
Figure 19 Global B2C Meat Substitutes Market Size, by Type, 2020-2027 ($Million)
Figure 20 Global Meat Substitutes Market Size, by Region, 2020-2027 ($Million)
Figure 21 Market Dynamics: European Alternative Protein Market
Figure 22 Europe: Meat Substitutes Market Snapshot
Figure 23 Number of Vegans in the U.K., 2014-2018 (In Thousands)
Figure 24 Veganism Trends in the U.K.
Figure 25 North America: Meat Substitutes Market Snapshot
Figure 26 Meat Substitute Retail Sales in the U.S., 2017-2019 ($Billion)
Figure 27 Asia-Pacific: Meat Substitutes Market Snapshot
Figure 28 Challenges Faced by Latin American Meat Substitutes Market
Figure 29 Key Growth Strategies Adopted by Leading Players, 2017-2020
Figure 30 Meat Substitutes Market: Competitive Benchmarking, by Product
Figure 31 Beyond Meat, Inc.: Financial Overview (2017-2019)
Figure 32 Conagra Brands, Inc.: Financial Overview (2017-2019)
Figure 33 The Hain Celestial Group, Inc.: Financial Overview (2017-2019)
Published Date: Oct-2024
Published Date: Sep-2024
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