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Meat Substitute Market- insightSLICE

The key factor driving the growth of the meat substitute market is the increasing demand for plant-based protein products.

SANTA ROSA, CALIFORNIA, UNITED STATES, July 7, 2023/EINPresswire.com/ -- The Global Meat Substitute Market Share, Trends, Analysis and Forecasts, 2023-2032 presents extensive information on the latest trends, factors driving the market growth, potential opportunities, and challenges that may impact the industry's market dynamics. It offers a detailed examination of the different market segments, such as raw material, distribution channels, and competitive landscape.

𝐆𝐄𝐓 𝐀 𝐒𝐀𝐌𝐏𝐋𝐄 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/request-sample/75

The Global Meat Substitute Market was estimated to be US$ 5.70 Billion in 2022 and is expected to reach US$ 16.85 Billion by 2032 at a CAGR of 11.5%.

Meat substitute products mimic the sensory traits of traditional meat products and possess similar flavours, texture, and appearance. These products are developed to reduce dependence on animal meat. Factors such as health advantages linked to meat substitutes are inclining customers towards these products globally.

Meat substitutes are considered good for health owing to their rich protein content. Some of the widely used raw materials for making these products include wheat, soy, and other types of legumes. Large companies are investing profoundly in research and development activities to launch superior products and meet the rising demand from various emerging economies.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐞𝐚𝐭 𝐒𝐮𝐛𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The key factor driving the growth of the meat substitute market is the increasing demand for plant-based protein products. Globally, consumer preferences are shifting significantly owing to rising awareness about the need to maintain a healthy lifestyle. Consumers are adopting a proactive approach and improving their protein intake in their diets to maintain a healthy and fit lifestyle. In this regard, alternative proteins, including meat substitutes, are becoming very popular among consumers.

There are several health disorders associated with the consumption of red meat. Numerous studies have shown that eating red meat increases the risk of diabetes, cardiovascular disease, cancer, and other serious illnesses among consumers. Therefore, health-conscious customers are switching to plant-based proteins such as tofu, seitan, and other meat-like products.

The restraining factor in the growth of the meat substitute market is the high product prices and the complex process of manufacturing meat substitute products. It is difficult to imitate the same taste and colour as the original meat product by using plant-based proteins, thus hampering the market's growth.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐞𝐚𝐭 𝐒𝐮𝐛𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

On the basis of raw material the market is segmented in soy-based proteins, wheat-based proteins, other grain-based ingredients, and textured vegetable proteins. Soy-based proteins are the largest player in this segment, owing to their rich protein content and health benefits. Soy-based meat alternatives include tofu and tempeh, while wheat-based proteins include seitan, which is used in various dishes. Textured vegetable proteins encompass products that can be converted into clean meat.

Regarding distribution channels, the market is segmented into mass merchandisers, specialty stores, online retail, food service, and other retail channels. Mass merchandisers dominate this segment. Supermarkets provide a wide range of options for consumers to choose their food. Online retailers are expected to experience rapid growth in the forecast period due to increased adoption of mobile phones and improved internet connectivity, making it easier for people to order products online and have them delivered to their doorsteps.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐭𝐫𝐞𝐧𝐝𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐞𝐚𝐭 𝐒𝐮𝐛𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The global meat substitute market is geographically segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Europe plays a major role in the alternate meat product market globally. The region's growth can be attributed to the transition towards a more sustainable food system. People are increasingly turning towards organic food products, vegan diets, gluten-free items, and nutritional supplements to enhance their protein intake.

Asia-Pacific is also a significant region in the market. The growth in this region is driven by its large population, with India and China being two of the most populous countries. Industrialization in the region has led to increased disposable income, thereby augmenting market growth. Additionally, there is an evolution in fast food chains, hotels, and restaurants in the region, which serve plant-based meat burgers, nuggets, and other food products.

North America is a region where a large population is affected by obesity problems, with the United States being an example. People in the region are becoming more health-conscious and opting for plant-based protein products.

Latin America and the Middle East are also experiencing growth due to increased awareness among people about healthy alternatives to animal meat products.

𝐃𝐈𝐒𝐂𝐔𝐒𝐒 𝐌𝐎𝐑𝐄 𝐃𝐄𝐓𝐀𝐈𝐋𝐒 𝐖𝐈𝐓𝐇 𝐎𝐔𝐑 𝐄𝐗𝐏𝐄𝐑𝐓𝐒: https://www.insightslice.com/callwithauthor/75

Some key players in the market include Beyond Meat, Impossible Foods, Kellogg Company, Tyson Foods, Unilever Group, Nestle S.A, Sunfed, Conagra Brands Inc., and JBS SA, among others.

𝐌𝐀𝐑𝐊𝐄𝐓 𝐒𝐄𝐆𝐌𝐄𝐍𝐓𝐀𝐓𝐈𝐎𝐍

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐑𝐚𝐰 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥:

• Soya based ingredients
• Wheat based ingredients
• Other Green based ingredients
• Textured vegetable proteins

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬:

• Mass Merchandisers
• Specialty stores
• Online Retail
• Foodservice
• Other Retail Channels

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐑𝐞𝐠𝐢𝐨𝐧

• North America
> United States
> Canada
> Rest of North America

• Europe
> Germany
> United Kingdom
> Italy
> France
> Spain
> Rest of Europe

• Asia Pacific
> Japan
> India
> China
> Australia
> South Korea
> Rest of Asia Pacific

• Middle East & Africa
> UAE
> Saudi Arabia
> South Africa
> Rest of the Middle East & Africa

• South America
> Brazil
> Rest of South America

𝐁𝐔𝐘 𝐓𝐇𝐈𝐒 𝐏𝐑𝐄𝐌𝐈𝐔𝐌 𝐑𝐄𝐒𝐄𝐀𝐑𝐂𝐇 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/buy-now/75

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬:

insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off-the-shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬:

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insightSLICE (Same Page Management Consulting Pvt. Ltd.)
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