Know More About “Meat Substitutes Market 2019-2025” Growth Worldwide…..|Grand View Research, Inc.


The global meat substitutes market size is expected to reach USD 5.81 billion by 2022, according to a new report by Grand View Research, Inc. The market is expected to witness a healthy CAGR of 7.5% during the forecast period. Growing preference for vegan diet coupled with rising health awareness is expected to fuel market demand in the near future.
Soy-based meat substitutes led the global market in the past. Wheat-based raw materials are expected to register the highest CAGR from 2015 to 2022, followed by mycoprotein and soy-based meat substitutes. Textured Vegetable Protein (TVP) is the most popular meat substitute, which led the market. However, wheat-based meat substitutes, such as seitan, are expected to experience the maximum CAGR through 2022.
Among the multiple applications, seitan is presumed to witness the fastest growth over the forecast period. The Asia Pacific and Central & South America regions are slated to see strong demand over the next seven years. Europe has been the dominant market for meat substitutes and is presumed to maintain the trend over the forecast years.
On the other hand, regulations and directives related to meat substitute composition and specifications are anticipated to impact the market growth to some extent. Variations and complexities in the regional rules are presumed to have a negative impact on the global, as well as regional markets. However, regulations issued by agencies, such as FDA and FSIS, are anticipated to play a vital role in shaping the global meat substitutes market over the forecast period.
The meat substitutes market is witnessing a significant rise in demand globally. Will the limited consumer knowledge regarding the possible end to this crisis play an integral role in shaping the near future of the industry? Our team is working to account for the rapid surge in our estimates. The report will account for Covid19 as a key market contributor.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/meat-substitutes-market/request/rs4
Further key findings from the study suggest:
·         Europe emerged as the largest market and generated revenue of USD 1.40 billion in 2014. It is anticipated to expand at a CAGR of 7.5% over the forecast period
·         Wheat-based protein is forecast to reach USD 308.3 million by 2022 with a CAGR of 9.9% from 2015 to 2022
·         Seitan is anticipated to emerge as the fastest-growing segment and is likely to register a CAGR of 10.2% over the forecast years
·         Industry rivalry is bound to remain medium over the forecast period owing to a handful of market participants. Some of the market participants are Amy’s Kitchen, Inc.; Beyond Meat; Vbites Foods Ltd.; Blue Chip Group; MorningStar Farms; Cauldron Foods; and MGP Ingredients, Inc.
Manufacturers develop their own indigenous products according to the regional preferences and their own manufacturing capability. Some major companies have also developed strong relationships with distributors to seek access to the markets. 
Growing preference toward vegan diet owing to several health benefits and environmental concerns is the major factor driving the market. Thus, manufacturers are taking substantial steps to develop superior products and improve their product portfolio to cater to the growing demand.
Meat production accounts for over 14.5% of the total Greenhouse Gas (GHG) emissions, using nearly 68% of agricultural land, inclusive of a third of arable land needed for crop production. This, in turn, results in deforestation, land degradation, and loss of wildlife. The 2014 IPCC report on climate change emissions identified changing diets as an undeveloped, yet significant area for action.
Among the multiple applications, seitan is presumed to witness the highest growth rate over the forecast period. Developing regions such as Central & South America and Asia Pacific are projected to witness strong demand in the coming years. Europe has been the dominant market and is presumed to continue its dominance over the next few years.
Seitan, which contains higher amounts of sodium and protein than tempeh and tofu, is anticipated to emerge as the fastest-growing product segment. Seitan is available in a variety of forms including marinated strips, shaped masses, slices, and blocks. Tofu-based products (tofu skin, okara, and tofurkey) are expected to emerge as the second-largest product segment, but its growth rate is likely to be lower than tofu product segment. This is due to the variation in regional consumption patterns of tofu and tofu-based products.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-meat-substitutes-market
Grand View Research has segmented the global meat substitutes market on the basis of product, raw material:
Meat Substitutes Raw Material Outlook (Revenue, USD Million, 2012 - 2022)
·         Soy-based
·         Wheat-based
·         Mycoprotein
·         Others
Meat Substitutes Product Outlook (Revenue, USD Million, 2012 - 2022)
·         Tofu
·         Tofu-based
·         Tempeh
·         Textured Vegetable Protein (TVP)
·         Other Soy Products
·         Seitan
·         Quorn
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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