Vietnam Meat Substitutes Market, By Type, By Source, By Category, By Region, Competition Forecast & Opportunities, 2017-2027

Vietnam Meat Substitutes Market is anticipated to grow at a significant rate during the forecast period. The market growth can be attributed to the rising health concerns among the population and shifting consumer preferences towards plant-based foods due to enhanced awareness of sustainability. The increasing vegetarian and vegan population and increasing incidences of diseases such as obesity, asthma, blood pressure, etc. are also contributing to the market growth. Growing demand for vegan burgers with a good amount of proteins and changing food habits of consumers towards rising adoption of a healthy lifestyle supported by the integration of plant-based foods are also propelling the growth of the Vietnam meat substitutes market. Additionally, expanding vegan and flexitarian population and increased investments from food industry pioneers are driving the growth of the Vietnam meat substitutes market. Many research institutes are developing new plant proteins, witnessing a substantial increase in the vegan population, which is expected to influence the Vietnam meat substitutes market positively. Besides, the growing adoption of a healthy lifestyle due to rising incidences of chronic disorders is driving the Vietnam meat substitutes market. Upsurge in demand for processed and convenience foods due to busy lifestyles and increased consumer spending on healthy food products due to high personal disposable incomes are also fueling the Vietnam meat substitutes market. Furthermore, the rise of the clean eating trend and the increased demand for innovative products across chilled, ambient, and frozen segments are driving the growth of the Vietnam meat substitutes market. Supermarkets, hypermarkets, and online retail channels provide a wider choice of products and brands to consumers, adding to the growth of the Vietnam meat substitutes market. Moreover, new and existing players are innovating in the meat substitute market space to improve the taste and quality of products, which is further expected to fuel the growth of the Vietnam meat substitutes market.

The Vietnam meat substitute market is segmented on the basis of type, source, category, region, and company. Based on the source, the market is segmented into soy, wheat, mycoprotein, and others. The soy-based meat substitute segment dominated the Vietnam Meat Substitute market in 2021. The market is expected to register the highest growth during the forecast period due to increased consumer awareness about the nutritional content of soy and rising health consciousness.

Major players operating in the Vietnam Meat Substitutes market are VBites, Sonic Biochem Limited, MGP Ingredients, Beyond Meat, Amy's Kitchen, Quorn Foods, and The Nisshin Ollio Group, ADM, Meatless, etc.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year: 2022E

Forecast Period: 2023F-2027F

Objective of the Study:

• To analyze and forecast the market size of Vietnam meat substitutes marekt, in terms of value and volume.
• To classify and forecast Vietnam meat substitutes market based on type, source, category, company, and regional distribution.
• To identify drivers and challenges for Vietnam meat substitutes market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam meat substitutes market.
• To conduct the pricing analysis for Vietnam meat substitutes market.
• To identify and analyze the profile of leading players involved in the manufacturing of Vietnam meat substitutes market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across Vietnam.

TechSci Research calculated the market size of Vietnam meat substitutes market using a bottom-up approach, where data for various end user industries wa sstudies and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Meat substitutes manufacturers
• Raw material suppliers
• Distributors and traders
• End users
• Food Retailers
• Research organizations and consulting companies
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufactures, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Vietnam Meat Substitutes market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Meat Substitutes Market, By Type:

Soy Products

Quorn

Tempeh

Tofu

Seitan

Others

• Vietnam Meat Substitutes Market, By Source:

Soy

Wheat

Mycoprotein

Others

• Vietnam Meat Substitutes Market, By Category:

Frozen

Refrigerated

Shelf-Stable

• Vietnam Meat Substitutes Market, By Region:

North Vietnam

South Vietnam

Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam Meat Substitutes Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according the company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

• Profit margin analysis in case of direct and indirect sales channel.