According to the
current analysis of Reports and Data, the global Meat
Substitutes Market was valued at USD 4,471.7 Million
in 2018 and is expected to reach USD 7,694.0 Million by the year 2026, at a
CAGR of 7.0%. These products are analogs which have meat-like texture but
are healthy and cholesterol-free. The meat substitutes market is primarily
driven by the increasing preference for plant-based products and vegan diet.
This
report on the Meat Substitutes market delivers a cumulative synopsis of the
speculations of this business, overall, along with an evaluation of its
segmentations. It predicts the Meat Substitutes market to advance as one of the
most profitable verticals, generating massive revenue by the end of the
forecast years, exhibiting a sizable growth rate over the calculated period.
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sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/1877
Key participants in the
meat substitutes market include DowDuPont, ADM, The Nisshin OilliO Group, Sonic
Biochem Limited, MGP Ingredients, VBites, and Garden Protein International,
among others. DowDuPont is an American conglomerate. The company’s DuPont
Nutrition & Biosciences offers an extensive line of ingredients through its
brand Danisco.
Further key findings
from the report suggest
- Textured Vegetable Protein (TVP) is
expected to witness lucrative growth at a CAGR of 6.7%. TVP is a
by-product of soybean oil extraction. It is low in carbohydrates,
calories, and fat.
- Asia Pacific is expected to account
for 23.4% of the global meat substitutes market. Increased preference for
vegetarian food coupled with the limited production of animal products are
some factors driving the growth of this segment
- On the basis of source, soy
dominates the meat substitute market with 57.1% share. Increase in
consumption of soy, due to its application in food items, such as snacks,
cookies, and baked products and various health benefits such as in the
reduction of obesity and sugar levels drive the growth of this segment.
- Based on type, the tempeh segment
is expected to grow at the highest CAGR of 7.8%. Tempeh is a low-cost
substitute which offers various health benefits such as increasing
antibodies production and reduced risk of diabetes.
- However, health concerns associated
with these products and their high cost are likely to hinder the growth of
meat substitutes market during the forecast period.
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For the purpose of this
study, Reports and Data have segmented the Meat Substitutes market on the basis
of type, source, category, and region:
Type (Revenue, USD
Million; 2016–2026)
- Tofu & Tofu Ingredients
- Tempeh
- Textured Vegetable Protein (TVP)
- Seitan
- Quorn
- Others
Source (Revenue, USD
Million; 2016–2026)
- Soy
- Wheat
- Mycoprotein
- Others
Category (Revenue, USD
Million; 2016–2026)
- Frozen
- Refrigerated
- Shelf-Stable
Regional Outlook
(Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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full report here @
https://www.reportsanddata.com/report-detail/meat-substitutes-market
Objective of Studies:
·
To
provide insights about factors affecting the market growth. To analyze the Meat
Substitutes market based on various factors- price analysis, supply chain
analysis, Porte five force analysis etc.
·
To
provide historical and forecast revenue of the market segments and sub-segments
with respect to four main geographies and their countries- North America,
Europe, Asia, Latin America and Rest of the World.
·
To
provide country level analysis of the market with respect to the current market
size and future prospective.
·
To
provide country level analysis of the market for segment by application,
product type and sub-segments.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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