Meat Substitutes Market: By Source, By Type and Geography

Meat Substitutes Market Size, Share, Growth, Trends, and Global Industry Analysis: By Source (Wheat-based, Soy-based, Mycoprotein meat substitutes, Others), By Type (Tofu, Textured vegetable protein, Tempeh, Soy products, Quorn, Seitan, Others) and Region

Meat Substitutes Market size was valued at US$ 5.49 billion in 2023 and is poised to grow at a CAGR of 6.6% from 2024-2030. Meat substitutes are the products that resemble the actual meat in flavor, taste, and appearance, and are healthier as compared to the original meat. Many products are being used as substitutes for regular meat and meat products. These meat substitutes are composed of various ingredients like wheat, soy and others. Tofu is one of the most popular substitutes of meat which is widely used across the globe. Increase in prevalence rate of obesity across the globe and growing health problems like cardiac issues, hypertension, asthma and others are the major factors that are driving the growth of the market. Declining per capita consumption of meat especially in developed economies in recent years owing to growing health concerns is expected to create demand for the market. High nutritional food products and similar tastes to meat are witnessed to gain traction towards the market.

However, alternatives such as lean meats and low cholesterol meat available in the market are the few restraints for the growth of the meat substitutes market. They are widely used in meat-like dishes due to their resemblance to flesh. Various analogs include soy-based (e.g. tofu, tempeh) or gluten-based, but now may also be made from pea protein and sometimes Mycoprotein-like ingredients. The consumer gets full satisfaction after consuming meat analogs because of their meaty texture, appearance, and flavor which is being imparted during the production of meat substitutes. The supplement of the protein in a vegetarian diet through meat-like substances can be fulfilled by vegetables that are rich in protein and also by adopting meat substitutes.

Meat Substitutes Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.6%

Largest Market

Asia Pacific

Fastest Growing Market

Europe

Meat Substitutes Market Dynamics

Increasing awareness regarding health among the consumers coupled with dramatic changes in preferences towards vegetarian diet is anticipated to fuel the market. Soy is the vital raw material for production of meat substitutes. Meat substitutes market is moderately competitive due to the presence of limited number of companies but it is very difficult to the new entrants due to various alternatives in meat industry rather than the meat substitutes. Companies are being focused on the new product launches such as novel textures, taste, organic and non-GMA products, collaborations, robust investment in R&D are expected to create new avenues for the market over the forecast period.

Meat Substitutes Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 5.49 billion

Market CAGR

6.6%

By Source

  • Wheat-based
  • Soy-based
  • Mycoprotein meat substitutes
  • Others

By Type

  • Tofu
  • Textured vegetable protein
  • Tempeh
  • Soy products
  • Quorn
  • Seitan
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2019 to 2023) and forecast (2024 to 2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

The global meat substitutes market size was valued at US$ 5.49 billion in 2023 and is projected to grow at a CAGR of 6.6% from 2024 to 2030.

The meat substitutes market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Europe is the fastest-growing for meat substitutes market

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

1. Executive Summary
2. Global Meat Substitutes Market Introduction 
2.1.Global Meat Substitutes Market  - Taxonomy
2.2.Global Meat Substitutes Market  - Definitions
2.2.1.Source
2.2.2.Type
2.2.3.Region
3. Global Meat Substitutes Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Meat Substitutes Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Meat Substitutes Market  By Source, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Wheat-based
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Soy-based
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Mycoprotein meat substitutes
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Others
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
6. Global Meat Substitutes Market  By Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Tofu
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Textured vegetable protein
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Tempeh
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Soy products
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Quorn
6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Seitan
6.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Others
6.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
7. Global Meat Substitutes Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Asia Pacific (APAC)
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Middle East and Africa (MEA)
7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Latin America
7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8. North America Meat Substitutes Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. Source Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.1.1.Wheat-based
8.1.2.Soy-based
8.1.3.Mycoprotein meat substitutes
8.1.4.Others
8.2.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.2.1.Tofu
8.2.2.Textured vegetable protein
8.2.3.Tempeh
8.2.4.Soy products
8.2.5.Quorn
8.2.6.Seitan
8.2.7.Others
8.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.3.1.United States of America (USA)
8.3.2.Canada
9. Europe Meat Substitutes Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Wheat-based
9.1.2.Soy-based
9.1.3.Mycoprotein meat substitutes
9.1.4.Others
9.2.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Tofu
9.2.2.Textured vegetable protein
9.2.3.Tempeh
9.2.4.Soy products
9.2.5.Quorn
9.2.6.Seitan
9.2.7.Others
9.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Germany
9.3.2.France
9.3.3.Italy
9.3.4.United Kingdom (UK)
9.3.5.Spain
9.3.6.Rest of EU
9.3.7.
10. Asia Pacific (APAC) Meat Substitutes Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Wheat-based
10.1.2.Soy-based
10.1.3.Mycoprotein meat substitutes
10.1.4.Others
10.2.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Tofu
10.2.2.Textured vegetable protein
10.2.3.Tempeh
10.2.4.Soy products
10.2.5.Quorn
10.2.6.Seitan
10.2.7.Others
10.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.China
10.3.2.India
10.3.3.Australia and New Zealand (ANZ)
10.3.4.Japan
10.3.5.Rest of APAC
11. Middle East and Africa (MEA) Meat Substitutes Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Wheat-based
11.1.2.Soy-based
11.1.3.Mycoprotein meat substitutes
11.1.4.Others
11.2.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Tofu
11.2.2.Textured vegetable protein
11.2.3.Tempeh
11.2.4.Soy products
11.2.5.Quorn
11.2.6.Seitan
11.2.7.Others
11.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.GCC Countries
11.3.2.South Africa
11.3.3.Rest of MEA
12. Latin America Meat Substitutes Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Wheat-based
12.1.2.Soy-based
12.1.3.Mycoprotein meat substitutes
12.1.4.Others
12.2.  Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Tofu
12.2.2.Textured vegetable protein
12.2.3.Tempeh
12.2.4.Soy products
12.2.5.Quorn
12.2.6.Seitan
12.2.7.Others
12.3.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Brazil
12.3.2.Mexico
12.3.3.Rest of LATAM
13. Competition Landscape
13.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
13.2.1.Beyond Meat (U.S.)
13.2.2.Amys Kitchen (U.S.)
13.2.3.Cauldron Foods (U.K.)
13.2.4.Meatless B.V. (The Netherlands)
13.2.5.Garden Protein International  Inc. (Canada)
13.2.6.Sonic Biochem Extractions Limited (India)
14. Research Methodology 
15. Appendix and Abbreviations 

Key Market Players

  • Beyond Meat (U.S.)
  • Amys Kitchen (U.S.)
  • Cauldron Foods (U.K.)
  • Meatless B.V. (The Netherlands)
  • Garden Protein International  Inc. (Canada)
  • Sonic Biochem Extractions Limited (India)
  • Quorn Foods (U.K.)
  • Morningstar Farms (U.S.)
  • Vbites Food  Ltd. (U.K.)
  • MGP Ingredients (U.S.).

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