Meat Substitute Market

Increasing Consumer’s Focus on
Environmental sustainability and Animal
Welfare Drives Growth of Meat Substitute
Market- Global Forecast to 2024
Global Meat Substitute Market 2019-2024
Meticulous Research® – leading global market research company is researching on meat
substitute market titled “Meat Substitute Market by Source (Plant (Soy, Wheat,
Mycoprotein), Insect (Crickets, Mealworms)), Product (Plant Based (Tofu, Tempeh,
TVP), Insect Based (Whole Insects, Insect Powder)), Category (Frozen, Refrigerated,
Shelf Stable) - Global Forecast to 2024"
The factors such as rising consumer preference towards vegetarian or vegan diet across
the globe, rising health concerns with consumption of meat products, and various health
benefits are driving the growth of global meat substitutes market.
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On the basis of source, plant sourced meat substitutes commanded the largest share of
meat substitute market in 2017 due growing health & wellness trend, advances in
manufacturing technology, and increased preference for vegetarian and vegan foods.
However, insect sourced meat substitute is expected to witness rapid growth during the
forecast period. The rapid growth of this market is mainly attributed to the low risk of
transmitting zoonotic diseases and high nutritional value of insects
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Global Meat Substitute Market 2019-2024
On the basis of category, the frozen meat substitute accounted for the largest share of
meat substitutes market in 2018. Frozen meat substitutes help to maintain the nutritional
value of food products and retain the flavor and texture. Also, the frozen meat substitutes
are gaining popularity due to changes in purchasing patterns coupled with fast lifestyles
and the shift from traditional food to convenience food, from small grocery shops to
supermarkets, especially in emerging economies such as India, China, and Brazil.
Geographically, North America commanded the largest share of the global meat
substitute market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle
East & Africa. However, Asia Pacific market is expected to witness rapid growth during
the forecast period. The rapid growth of this region is mainly attributed to increasing
protein rich diet awareness, increasing health consciousness, booming food & beverages
industry, growing economy, rapid urbanization, and large base of vegetarian population.
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The key players operating in the global meat substitute market are Archer Daniels
Midland Company, Dupont, The Nisshin Oillio Group, Sonic Biochem Limited, MGP
Ingredients, Garden Protein International, Beyond Meat, Amy’s Kitchen, Quorn Foods,
Morningstar Farms, Meatless, Vbites, Kreca Ento-Food BV, Entomo Farms, All Things
Bugs, LLC, and Bitty Foods.
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