Meat Substitute Market Driven By Increased Demand for Frozen Foods

Increasing adoption of a dietary guideline to reduce the consumption of red meat is fluxing the demand for non-vegetarian alternatives, which is further boosting the demand for meat substitutes. According to a recent business intelligence report by an IndustryARC, the global meat substitute market size was $4.5 billion to $4.8 billion in 2018 and the opportunities are growing with a CAGR of 6.1% to 6.6% during the forecast period of 2019 to 2025. The report is titled “Meat Substitutes Market: by Type (Tempeh, Textured Vegetable Protein, Tofu, Seitan, Quorn), by Source (Mycoprotein, Wheat, Soy), by Category (Refrigerated Meat Substitutes, Frozen Meat Substitutes) & Geography - Forecast (2019 - 2025).”

Recent report released by NCBI stated that excess red and processed meat consumption is related to health conditions such as heart and cardiovascular diseases, which are leading the high mortality rate. Furthermore, meat consumptions impact the environment in several ways including contamination of soil, air, water, and other resources such as water and fuel. The antibiotics used in animal production food indicate growth of bacteria, which impends the value of antibiotics in human medicine. 

Meat substitute, also known as meat analogue, are often based on products such as tofu or tempeh made up of soybeans, peas, or gluten. Some of the common examples of meat substitutes are falafel, in vitro meat, and soy protein.

The latest study by the analyst of IndustryARC suggested that Europe is the leading region with market share of 33% to 35% in 2018. Also, NCBI on their recent European study, found that meat reducers followed to eat 49% eggs, 26% imitation meats or vegetarian burgers, 17% prefer lentils or beans, and 76% opt for fish in meatless meals, 14% tofu, and 9% nuts. A major fraction of the population in Europe is inclining towards alternatives that are leading to more demand in the meat substitute market in Europe. 

Furthermore, the analyst concluded that meat substitute application is segmented on the basis of frozen, refrigerated, and shelf stable foods. Their key application is in the frozen foods which will grow with a CAGR of 35% to 38% through to 2025. Rise in demand for convenience and pre-packed foods and frozen meat substitute products accounted for the largest market share during the forecast period. 

 

Some of the major players in meat substitutes market are DM, DuPont, The Nisshin OilliO Group, Sonic Biochem Limited, MGP Ingredients, Garden Protein International, Beyond Meat, Amy's Kitchen, Quorn Foods, MorningStar Farms, Meatless, and VBites.

Processed Poultry & Meat Market: By Type (Processed Poultry, Processed meat); By Product (raw fermented sausages, cured, fresh processed, precooked, dried, raw cooked, chilled and others ); by processing (Chopping, Mixing, Curing, stuffing, Fermentation, drying, Heat treatment, smoking and others ); by packaging films ( Single layer film, Multi-layer film ); by packaging (Vacuum packing, Intelligent packing, Skin packing, modified atmosphere packaging, Cold smoking, active packaging and others) By end user industry(restaurants, Food manufactures, retail and others ) By Geography - Forecast (2018-2023)