Meat Substitutes Market Is Anticipated To Grow At A CAGR Of 7.5% From 2014 To 2022: Grand View Research, Inc.

Posted on 2018-05-14 by researchinsights in Food & Beverage // 0 Comments

The Global meat substitute market size is expected to reach USD 5.81 billion by 2022, according to a new study by Grand View Research, Inc., registering a CAGR of 7.5% during the forecast period. Growing health consciousness among consumers and preference for vegan diet can drive the global meat substitutes market. Additionally, increasing occurrence of obesity and diabetes due to inactive lifestyle can create a positive impact on the market. Growing R&D activities for developing less expensive and healthy products will also likely create opportunities for participants.

In 2014, soy accounted for over 80.0% of overall market revenue. Soy is good source of iron, protein, and vitamin B, and is therefore extensively used as an ingredient for producing meat substitutes. Increasing demand for nutritional food due to rising health concerns is anticipated to boost this segment during the forecast period. Wheat is expected to increase its usage as an ingredient for producing meat substitutes in the coming years. The segment is likely to expand at an estimated CAGR of 10.0% from 2015 to 2022.

To request a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/meat-substitutes-market

Global meat substitutes market revenue, by raw material, 2012 – 2022 (USD Million)

Further key findings from the report suggest:

Global meat substitute market was valued at USD 3,336.5 million in 2014 and is expected to reach USD 5,810.1 million by 2022, growing at a CAGR of 7.5% from 2015 to 2022.
Textured vegetable protein (TVP) emerged as the leading product segment and accounted for 43.7% of total market revenue in 2014. Increasing demand for soy based meat substitutes is expected to drive this segment over the forecast period. Seitan is expected to witness the highest growth of 9.8% from 2015 to 2022. Growing wheat gluten consumption in Asia Pacific is expected to drive this segment over the forecast period.
Europe emerged as the leading regional market and accounted for 42.0% of total market revenue in 2014. Growing health concerns particularly in developed economies of Europe is expected to drive the regional market over the forecast period. Asia Pacific is expected to witness the highest growth of 8.6% from 2015 to 2022. Increasing disposable income level particularly in India, China and Indonesia is expected to drive the regional market.
Major industry participants have been taking strong initiatives to develop superior quality meat substitute products. Companies have been engaged in mergers & acquisitions and forging partnerships with those possessing R&D capabilities and having strong presence in the agro sector. Prominent industry participants include AMY’s Kitchen, Beyond Meat, Blue Chip Group, Cauldron Foods UK, garden Protein International Inc., Meatless B.V., Quorn Foods and Vbites Food Ltd.

Related Report of Processed & Frozen Foods:

Grand View Research has segmented the meat substitute market on the basis of raw material, product and region:

Global Meat Substitutes Raw Material Outlook (Revenue, USD Million, 2014 – 2022)

Soy-based
Wheat-based
Mycoprotein
Others

Global Meat Substitutes Product Outlook (Revenue, USD Million, 2014 – 2022)

Tofu
Tofu-based
Tempeh
Textured Vegetable Protein (TVP)
Other Soy Products
Seitan
Quorn
Others

Meat Substitutes Regional Outlook (Revenue, USD Million, 2014 – 2022)

North America
- U.S.
Europe
- Germany
- UK
- France
Asia Pacific
- China
- India
- Japan
Central & South America
Middle East and Africa

Access Press Release Of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-meat-substitutes-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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