Meat Substitute Market Introduction
Meat substitutes are meatless food that has almost the same taste, form, and texture of a related food made from meat, poultry, fish or shellfish.
Meat substitutes fill the diet gaps and offer various health benefits by providing essential elements that nourish human body. Across the globe, a large percentage of population is preferring vegetarian food that has impelled the demand for meat substitutes.
The main source used in formulation of meat substitutes are plant proteins such as glutens and globulins. The most commonly used ingredients are soy proteins, cereal proteins, vegetables, mycoproteins, pulses and nuts. Other components such as egg albumin, carbohydrates and gums are frequently used in development of meat substitutes.
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Meat substitutes contain high amount of protein and calcium; thus, intake of these substitutes is largely observed among sportspersons and young generation. Ongoing trends such as vegan and consuming plant protein, has shown extraordinary results in reduction of cholesterol, preventing menopausal complications and various other diseases. The health benefits of this cholesterol-free protein, with meat-like texture, is the main factor promoting the growth of meat substitute products.
Meat Substitute Market Outlook
The meat substitute market has gained remarkable growth due to health benefits of meat substitutes and increased preference for vegetarian foods. Also, increase in incidence of health disorders and fitness awareness among consumers are expected to drive the meat substitute market growth. Furthermore, companies are innovating and developing product lines for meat substitutes due to increasing adoption level of meat substitutes by consumers. However, lack of good taste in comparison to natural meat products is hindering the global meat substitute market. However, rising organized retail sector for meat substitutes is expected to provide strong market growth opportunity in the future.
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Meat Substitute Market by Geography
Based on geography, the meat substitute market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Europe is accounted the highest portion in the meat substitute market in 2018. Whereas, the Asia pacific is projected to record the highest growth over the forecast period 2020 to 2025. Rise in disposable income of consumers and Increase in adoption of western lifestyle are majorly driving the meat substitute market growth.
Meat Substitute Market Key Players
Key players operating in the meat substitute market include Amys Kitchen, Beyond Meat, Blue Chip Groups, Cauldron Foods, MGP Ingrdients, Meatless BV, Morningstar Farms, Nisshin Ollio Group, Quorn Foods, Sonic Biochem, Vbites Foods, ADM and DuPont. The companies are investing in research and development to expand their product line-up to fulfil the increasing demand by launching new product types of meat substitutes have expected to grow the meat substitute market during the forecast period. For instance, in May 2017, Amy’s Kitchen, a pioneer of the organic food industry, announced the new product, Roasted Poblano Enchilada. This product is gluten-free.
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