Transparency Market Research (TMR) delivers key insights on the
global meat alternatives market in its upcoming outlook titled, “Meat
Alternatives Market: Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2018 - 2026”. In terms of value, the global
meat alternatives market is projected to register a healthy CAGR of
6.1% during the forecast period due to various factors, regarding
which TMR offers vital insights in detail.
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The
consumer shift towards social media and information technology has
raised consumer awareness about how their food consumption habits
impacts the environment. Animal cruelty and health issues have
impacted the consumer buying behavior, especially in developed
regions such as North America and Europe. This has also recently
resulted in a sudden and startling demand for organic and natural
products. Also, there has been growing awareness about the link
between meat consumption and non-communicable diseases. In an attempt
to cut the risks for such diseases and also for obesity, consumers
are shying away from meat in their diets, which will gradually
encourage them to become vegetarians in the future. Meat alternatives
are perfect to cater to the permissive needs of these consumers.
There are other such consumer attitudes, such as going against animal
cruelty, reducing carbon emissions, and the conservation of water (a
large quantity of water is utilized for meat production/processing),
which will culminate in the high consumption of meat alternatives in
the future. Besides, a spurt in population growth is also likely to
create the need for alternative foods.
The
price of the product is one of the factors that is well thought-out
by consumers while purchasing a meat alternative. Many consumers have
stated concerns over the prices of meat alternatives, which are
relatively higher in some countries than meat itself. In such
circumstances, these expensive prices of meat alternatives are likely
to affect the market growth in a bigger way than it appears, as
positive consumer approach towards meat alternatives is not very
mature, and high prices may drive away even those customers which are
ready to opt for meat alternatives.
As
meat alternatives are highly processed products, they cannot qualify
for being natural products. The demographic which exhibits
willingness to opt for meat alternatives also exhibits a pull towards
natural products, and hence, a tendency to opt out from meat
alternatives is a possibility.
This
report covers trends driving each segment and offers analysis and
insights of the potential of the meat
alternatives market in specific regions. North America is
expected to register high growth rates between 2018 and 2026. APAC is
expected to remain the largest market through 2026. China is
estimated to account for 54.9% value market share in 2018 and the
overall APAC market expected to account for 78.6% market share by
2026. In terms of volume, North America is expected to register
significant CAGR during the forecast period. On the basis of source,
the meat alternatives market is segmented soy-based meat
alternatives, wheat-based meat alternatives, mycoprotein-based meat
alternatives and other sources of meat alternatives. The others
segment is expected to register relatively high growth over the
forecast period.
Detailed
profiles of the providers are also included in the scope of the
report to evaluate their long-term and short-term strategies, key
offerings and recent developments in the Meat Alternatives space. The
companies are focusing on business development with product
penetration in retail shelf spaces. Meat alternatives key players
include Turtle Island Foods, Inc., Nutrisoy Pty Ltd, Pinnacle Foods,
Inc., Amy's Kitchen Inc., Atlantic Natural Foods, LLC, Impossible
Foods Inc., The Hain Celestial Group, Inc., Beyond Meat Inc., Pacific
Foods of Oregon, Inc., Monde Nissin Corporation, Kellogg Company, Fry
Group Foods (Pty) Ltd., Nasoya Foods, Inc., Hügli Holding AG, Sweet
Earth, Inc., VBites Food ltd., The Kraft Heinz Company, Schouten
Europe B.V., Lightlife Foods Inc. and Taifun-Tofu GmbH.
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more Information:
https://www.prnewswire.com/news-releases/global-meat-alternatives-market-revenue-expected-to-increase-to-us-5-846-9-mn-by-2026-transparency-market-research-805706082.html
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