Global Meat Substitute Market is expected to reach USD 5810.1
million by 2022, according to a new
study by Grand View Research, Inc. Rising health awareness coupled with
shifting dietary preferences towards vegan diet is expected to drive the
global meat substitutes market. Recent animal disease outbreaks and
growing prevalence of various lifestyle induced diseases such as obesity and
diabetes are also expected to have a positive impact on the market growth. High
price of various meat substitutes is expected to hinder the market growth.
Increasing R&D initiatives to develop superior and cheaper products is
expected to yield opportunities for market participants.
Soy emerged as the
major raw material used for producing meat substitute products. Soy alone
accounted for over 80% of total market revenue in 2014. Growing demand for
nutritional food on account of growing health concerns is expected to drive
this segment over the forecast period. Soy based meat substitutes is a good
source of vitamin B, protein and Iron. Wheat is expected to be the fastest
growing raw material use for producing meat substitutes. The segment is
expected to grow at an estimated CAGR of 10.0% from 2015 to 2022.
Access Full Research Report on Global Meat Substitutes
Market:
http://www.grandviewresearch.com/industry-analysis/meat-substitutes-market
http://www.grandviewresearch.com/industry-analysis/meat-substitutes-market
Further key findings from the study 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.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
For the purpose of this study, Grand View Research has
segmented the Global 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
Global 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
View
Press Release Of This Research Report By Grand View Research: http://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.
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.
For more Information visit us: www.grandviewresearch.com