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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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.

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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.

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