Meat Substitute Market 2

Fueling a Health Revolution: Global Meat Substitute Market Soars to $11.2B by 2030, Embracing Plant-Powered Future. 🌱🍲 #FoodTech #Sustainability

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATE, November 24, 2023 /EINPresswire.com/ -- ccording to a new report published by Allied Market Research, titled, “Meat Substitute Market by Product Type, Source, and Category: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global meat substitute market size was valued at $5,477.7 million in 2020, and is projected to reach $11,230.1 million by 2030, registering a CAGR of 7.6% from 2021 to 2030.

The Meat Substitute market analysis would continue to witness increase in number of low-fat food and snack products, prepared from meats, owing to rise in demand for health and fitness products among consumers, which further restricts the growth of the market.

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @ https://www.alliedmarketresearch.com/request-sample/816

Increase in incidence of diabetes, cancer, and other health disorders boosts health and fitness consciousness among consumers. The adoption of vegetarian foods is on a consistent increase across the world. According to recent studies, 30% of Americans are not only leaving meat off their plates but also seeking out plant-based meat alternatives. Consumers are projected to become selective in their food habits to avoid severe health issues. Moreover, awareness toward environmental sustainability and animal welfare is anticipated to increase further in future, owing to the initiatives of governments and companies operating in the meat substitute industry. Consistent initiatives from companies, such as VBites Foods Ltd., have contributed significantly toward uplifting animal consciousness amongst individuals. Moreover, marketing and promotional initiatives of companies, such as Quorn Foods, are anticipated to increase consciousness toward sustainability among individuals in the coming years.

The Meat Substitute market in Asia-Pacific offers lucrative growth opportunities for the operating players. Increase in adoption of western lifestyle and rise in disposable income of consumers majorly drive the Meat Substitute market growth. This region offers potential growth opportunities to the market players for launching innovative meat substitute products. Moreover, countries in Latin America, such as Brazil, would unfold attractive business opportunities, owing to high prevalence of obesity in this region. However, a variety of low-fat meat substitutes are available in the market. Leading players in the food and snack industry offer a variety of meat-based, low-fat meal, and snack products. Lean meats have gained prominence among consumers, owing to increase in health and fitness consciousness. J.B.S. S.A. is amongst the leading players in meat processing industry, offering a wide variety of innovative, low-fat beef, pork, lamb, and other meat products.
Furthermore, as a consequence of positive consumer demand, numerous start-ups and established food companies have launched an array of plant-based meat, seafood, and dairy substitutes, which exhibit new flavors, textures, and improved nutritional profile. COVID-19 is expected to further boost the demand for meat substitute at a much higher rate. Increase in awareness among people to strengthen their immune system to prevent themselves from being infected easily is compelling them to maintain a healthy lifestyle and proper diet.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @ https://www.alliedmarketresearch.com/request-for-customization/816

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

𝟏. By product type, the TVP-based segment dominated the global market in 2020, and is expected to retain its dominance during the forecast period.

𝟐. By source, the soy-based segment accounted for the highest share in the meat substitute market trends in 2020, and is projected to grow at a CAGR of 6.3% from 2021 to 2030.

𝟑. By category, the frozen segment led the global meat substitute market forecast in 2020, and is expected to retain its dominance during the forecast period.

𝟒. By region, Europe accounted for the highest meat substitute market share in 2020, and is expected to grow at a CAGR of 5.8%.

Attributed to the spread of COVID-19, the demand for meat substitutes, as a result of increase in consumer spending on healthy food products and health consciousness, has experienced substantial growth. Furthermore, meat alternative manufacturers witnessed a surge in demand for plant-based products as a result of shortage of meat products in retail stores as well as limit on meat-based items purchased per customer.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @ https://www.alliedmarketresearch.com/purchase-enquiry/816

The meat substitute market is segmented on the basis of product type, source, category, and region. By product type, it is classified into tofu-based, tempeh-based, TVP-based, seitan–based, quorn-based, and others. By source, it is divided into soy-based, wheat-based, mycoprotein, pea-based and others. By category, it is categorized into frozen, refrigerated, and shelf stable. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬

𝟏. This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the meat substitute market analysis from 2020 to 2030 to identify the prevailing market opportunities.

𝟐. The market research is offered along with information related to key drivers, restraints, and meat substitute market opportunities.

𝟑. Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/a8e4645f433467f5bc403b99b9b81f06

𝟒. In-depth analysis of the meat substitute market segmentation assists to determine the prevailing market opportunities.

𝟓. Major countries in each region are mapped according to their revenue contribution to the global market industry.

𝟔. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

𝟕. The report includes the analysis of the regional as well as global meat substitute market trends, key players, market segments, application areas, and meat substitute market growth strategies.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐅𝐨𝐨𝐝 𝐚𝐧𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

1>. Tea Market: https://www.prnewswire.com/news-releases/tea-market-to-garner-93-2-billion-by-2031-at-6-7-cagr-allied-market-research-301809568.html
2>. Maize Flour Market: Global Opportunity Analysis and Industry Forecast 2021–2030

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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