Market Research Report
Global Meat Alternatives Market -2019-2026
|Published by||DataM Intelligence||Product code||812783|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Meat Alternatives Market -2019-2026|
|Published: March 1, 2019||Content info: 130-180 Pages||
Global Meat Alternatives Market - Overview
Meat Alternatives are prepared from various plant based sources. They are majorly consumed by vegan individuals and consumers concerned about health benefits owing to meat based cholesterol. They are extracted from plant sources like soy, wheat, rice and others. Meat Alternatives are associated with numerous health benefits such as rich protein, vitamins and high energy levels.
The Global Meat Alternatives Market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
Global Meat Alternatives Market - Market Dynamics
The advantages of plant-based proteins being cholesterol free, increasing demand of vegans across the world and rising concerns over health are the major factors responsible for boosting the Global Meat Alternatives Market.
The rise in people adopting plant-based eating habits is a major factor contributing to the growth of the global meat alternatives market. According to the Food Revolution Organization, the number of people identified as vegans in the UK increased by more than 350% in 2017. Customers at Walmart are asking suppliers to offer more plant-based products. Owing to these reasons, the global meat alternatives market is anticipated to grow at a steady pace in the future.
However, perceptions over the taste of meat alternatives and the extent of nutritional values provided by plant-based alternatives are the major factors responsible for hampering the growth of the Global Meat Alternatives Market.
Global Meat Alternatives Market - Segmentation Analysis
The Global Meat Alternatives Market has been segmented by type, source, sales channel, and geography.
Based on the type of the product, tofu is the dominant segments of the global meat alternatives market owing to the enriched nutritional values offered by these products. Tofu is made by condensing soy milk and pressed into solid blocks in a process similar to cheese making. Tofu foods are highly rich in nutrients and proteins. A 100 gram serving of tofu offers 8 grams of protein and other vital amino acids required by the body. About 3.5 ounce serving of tofu comes with a total nutritional value of only 70kcal which makes it a highly nutrient dense food. Many companies are offering new products to improve their market presence and contribute to the growth of their entities. For instance, in February 2019, Nasoya launched a new line of plant-based kimchi tossables and other tofu based products. Owing to these reasons, Tofu is anticipated to dominate the global meat alternatives market in the future.
Global Meat Alternatives Market - Geographical Analysis
The Global Meat Alternatives Market is segmented into North America, Europe, Asia Pacific, South America and the Middle East and Africa.
The European region is the dominant segment of the global meat alternatives market owing to the regional consumers recognizing the benefits of meat alternatives, adopting plant based substitutes owing to their nutritional benefits and avoiding health risks caused due to meat-based cholesterol. According to a research study, the sales value of meat substitutes in Germany increased from USD 134 million in 2015 to USD 157.1 million in 2016 finally reaching USD 180.3 million in 2017. The regional companies are focusing on launch of new products in other locations in order to expand market reach through extended portfolio. For instance, in January 2019, Swedish Company Oumph launched its award-winning vegan meat alternatives product line in Ireland. Owing to these reasons, the European region is anticipated to dominate the Global Meat Alternatives Market in the future.
Global Meat Alternatives Market - Competitive Analysis
New product launches and expansion of facilities are some the vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in January 2019, Canadian Brand, Daiya, has released a range of dairy-free yoghurt alternative cups, made with coconut cream and containing 6 grams of protein per serving. This yogurt alternative cup range is said to be a good source of calcium, vitamin B12 and Vitamin D and is available in all retail stores across North America.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. The Global Meat Alternatives Market is segmented based on the type as tofu, tempeh, textured vegetable protein and others. Based on the Source, the market is segmented as soy, wheat, mycoprotein and others. Based on the mode of sales channel, the market is segmented as super markets, convenience stores, online sales channel and others. Based on geography the market is segmented into - North America, South America, Europe, Asia Pacific and the Middle East and Africa.
The report profiles the following companies- Garden Protein International, Vbites, MGP Ingredients, Monde Nissin Corporation, Premier Foods, ADM, DuPont, Meatless BV, Cauldron Foods and AMY's kitchen Inc.