The global meat substitutes market showed a growth of 3.49 USD billion in 2018 with a growth rate of 7.9%. The significant presence of the millennial population across the globe and their rising demand for plant-based meat products along with growing health awareness are factors driving the meat substitutes market.

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The global meat substitutes market is categorized by source, type and product and region. Based on source, soy protein, wheat protein, pea protein and by type, concentrates, isolates, and textured. On the basis of product, tofu, tempeh, seitan, and quorn and by form solid and liquid. Plant-based protein ingredients have proved to be a great replacement for animal products. It is due to their high protein content, along with their texture, which improves the taste of the final products. The market for soy protein accounted for the highest market share due to the high demand for soy-based substitute meat products, such as pork, beef, and chicken, due to their high protein content. The other factor may be an increase in the use of organic and vegetarian diets. Soy-based foods are non-cholesterol-free, unlike animal protein foods, and act as a healthy source of nutrition. These factors are likely to favor the soy protein segment during the forecast period.
Meat substitute can be described as a compound that is structurally similar to another but slightly different in composition. Here the meat analog is a product that is structurally similar to the meat but varies in its composition. Meat equivalent, also referred to as meat substitute, artificial meat, fake meat or imitation meat, approximates the esthetic qualities (primarily texture, taste and appearance) and/or the chemical characteristics of different types of meat. This can also refer to a meat-based, safer and/or less costly alternative to a specific meat product. Moreover, major industry players are also investing in R&D to develop technologically advanced meat substitutes.

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North America is expected to account for the largest market share in meat substitutes in the Concentrate segment during the forecast period. It is due to the low price of concentrates relative to isolates. Another essential consideration may be that soya protein concentrates (SPCs) are quickly digested by humans and contain the same amount of protein as found in milk, meat, and eggs.
Both domestic and regional companies are offering a range of meat alternatives around the world. Big suppliers are present in the North American and European countries. Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry (Ireland), Ingredion (US), Sotexpro S.A (France), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), Emsland Group (Germany) and Cargill (US).

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Key Segments of the Global Meat Substitutes Market
Source Overview, 2015-2025 (USD Million) (K MT)
Soy protein
Wheat protein
Pea protein
Type Overview, 2015-2025 (USD Million) (K MT)
Concentrates
Isolates
Textured
Product Type Overview, 2015-2025 (USD Million) (K MT)
Tofu
Tempeh
Seitan
Quorn
Form Type Overview, 2015-2025 (USD Million) (K MT)
Solid
Liquid
Regional Overview, 2015-2025 (USD Million) (K MT)
North America
U.S.
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

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