Meat Substitute Market
                     Meat Substitute Market Market to Witness a Pronounce Growth During 2018 – 2026
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.
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Major Players in the Global Meat Substitute Market
Some of the key players operating in the global meat substitute market include DowDuPont Inc.,
Archer Daniels Midland Company, Amy’s Kitchen Inc., MGP Ingredients, Inc., Beyond Meat Inc.,
Sonic Biochem Extractions Ltd., VBites Foods Limited, The Nisshin OilliO Group, Ltd. Garden
Protein International, MorningStar Farms, and Meatless BV.
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.
Among product  type,  tofu  segment  accounted  for  the  highest  market  share  in  2017.  Tofu,
originated in China about 2000 years ago, is efficient source of protein and contains all eight
essential amino acids. Notable health benefits of tofu include low cholesterol levels, maintaining
cardiovascular health, preventing osteoporosis, and ease menopause symptoms.
Among source, the soy-based segment is expected to account for a significant revenue share
during the forecast period, owing to increasing consumption of soybean due to its nutritional
contents, as it is a source of calcium and linoleic acid. For instance, according to the U.S.
International Trade Administration (ITA), in Mexico, the total soybean domestic consumption was
4,446 thousands of metric tons in 2015, and reached up to 4,700 thousands of metric tons in
2016.
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.
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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.
 Key players are focusing on adopting various organic and inorganic growth strategies such as
mergers  and  acquisitions,  joint  ventures  and  partnerships,  and  product  or  technological
innovations to retain position in the global meat substitute market. For instance, in February
2017, Quorn Foods and Shakey’s Pizza Restaurant, partnered to introduce meat free pizza made
from mycoprotein.
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