Meat Substitutes Market Research Report by Type (Tofu & Tofu Products, Tempeh, Seitan, and Others), Source (Soy, Wheat, Mycoprotein, and Others), Category (Frozen, Refrigerated, Ambient, and Others), Distribution Channel (Store based, Non-store based), and Region-Global Forecast to 2023
Market analysis

The meat substitutes are currently dominating the food industry with a huge investments made in the meat substitutes category. A combination of the macro and micro economic factors are responsible for the higher demand for the meat substitutes in the global market. Consumer trends including the tendency towards plant-based options in contrast to animal-based protein items and veganism are making market opportunities for meat substitutes. Meat substitutes industry is experiencing considerable advancement, which is prompting new product dispatches and expansion. Also, nourishment brands are channelizing their endeavors towards research and advancement projects to unwind new market opportunities. It is estimated that the global meat substitutes market would augment to nearly the approx valuation of USD 9.25 Bn during the forecast period (2018-2023).

Market segmentation

The global market for meat substitutes are classified on the basis of product type, source, category, distribution channel and regional demand. Based on its product type, the market is segmented as Tempeh, Tofu & Tofu Products, Quorn, Textured Vegetable Protein (TVP), Seitan, Other soy-based products, Other meat substitute products. On the basis of its source, the market is bifurcated into wheat, mycoprotein, soy, and others. Based on its category, the market is classified into refrigerated, frozen and ambient. On the basis of its distribution channel, the global market is sectioned as non-store based and store based.

Regional analysis

Geographically, the global market for meat substitutes is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

Garden Protein International, Inc., Blue Chip Group, AMY's Kitchen, Inc., Beyond Meat, Quorn Foods, Inc,MorningStar Farms L.C., Sunfed, Ltd,VBites Foods, Ltd., Schouten Europe B.V., among others are some of the major players in the global meat substitutes market.