Meat
substitute also called meat analogue, mock meat, faux meat or meat
alternatives ahealthy replacement of meat that resemble chemical
characteristics and aesthetic qualities such as flavor, taste,
appearance and the basic texture of meat. Cashing in on the
increasing health consciousness of the people, change in dietary
plans, recent outbreak of animal diseases and the need for an
alternative to meat due to harmful effects of over-consumption of
meat, the meat substitute market is expected to witness substantial
growth in this sector. With a strong growth rate, the sector is hoped
to thrive across various continents and different categories.
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Meat
substitute market can be segmented on the basis of type, source,
category and region. The type segment of meat consist of tofu and
tofu ingredients, Quorn, Seitan, Tempeh, Textured Vegetable Protein
(TVP), other soya products (natto, miso and yaso) and others
comprising vales, risofu, lupi and pea-protein. On the basis of
source, it is categorized into wheat based, soy based, mycroprotien
and others (milk and rice based). Segmentation by category comprises
refrigerated and frozen. North America, Europe, Asia-Pacific and rest
of the world (RoW) comprise the regional segments of the meat
substitute market.
Meat
has always been a high source of protein since time immemorial,
however, it also contains very high level of saturated fats and
cholesterol. Regular consumption of meat leads to obesity,
contributes to increased risk of cardiovascular diseases, diabetes,
atherosclerosis, some forms of cancer (breast cancer and lung cancer)
and osteoporosis. With the growing awareness about wellness and
health, recent trends show that per-capita consumption of meat
particularly high protein red-meat has witnessed a decline especially
in the developed countries over the years.Some meat producing
companies in Germany who have been traditionally associated with meat
production are now venturing into the market of meat substitute
production. Apart from rising health awareness, innovative and
attractive products launches by key players of this sector and
engaging marketing and brand positioning strategies are driving the
market. Growing concern over animal welfare and enhanced
understanding of the impact of meat industry on the environment are
also driving the global
meat substitute market.
The
need to diversify the meat production has led to the production of
low-cholesterol meat products, lean meats and these pose a threat to
the sector.Steady demand of poultry meat especially chicken also
poses a challenge to the industry. Besides, fluctuating price of the
raw materials pose a challenge to the industry. Many people have soy
allergies and intolerance of gluten
The
US has the largest market of meat substitutes currently, followed by
Europe and then by Asia-pacific region.Asia pacific region is also
expected to witness the fastest growth in this sector during the
forecast period. With the strong economic growth in of China, Japan
and India and growing middle-class population, the demand for meat
substitutes is expected to rise during the forecast period of 2016 to
2024. There is also a growing demand for soy-free and glutten free
meat in Europe and Asia Pacific. A new dietary guideline issued by
the Chinese government, as recommended by the Chinese health ministry
which aims to reduce meat consumption of China by half in another
decade and a half, suggests people to consume 40 to 75 grams of meat
per day.
The
key players in the meat substitute industry constitute Amy’s
Kitchen (US based), Meatless B.V. (The Netherlands), Quorn Foods
(U.K.), Sonic Biochem Extractions Limited (India), Ahimsa Food
(India), Beyond Meat (US), Cauldron Foods (U.K.) among others. Beyond
Meat provides its customers an array of completely plant-based meat
substitutes, while Amy’s Kitchen has varieties of fresh and
unfamiliar snacks and meals.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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