Worldwide,
many consumers continue to focus on healthy and nutritious food
products. Across the globe, consumers are demanding more wholesome
and nutritious products. Further diseases associated with meat and
meat products have impacted the nutritional and culinary preferences
of population towards consuming meat products, especially those food
products containing red meat. On the contrary, the demand for meat
substitutes such as tofu, RTC/RTE, natto, tempeh, and others is
increasing at a steady pace for the past few years. Tempeh is a
soy-based fermented product which offers various health benefits and
fills the diet gaps by providing essential elements that nourish
human body.
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Meat
alternatives are high in demand, with regards to continued focus on
health and wellness/good-for-you products. There is no indication
that the consumers will refrain from meat any time soon. However,
consumers are adopting a back-to-basics mind-set, focusing on simple
ingredients and fewer processed foods. Controlling dietary
consumption is regarded as a method of flexibility. Apart from
health-associated factors, sustainability and considerations are also
impelling this movement, especially amongst the women. There is
increase in the demand for meat substitutes mainly due to increasing
health concerns such as diabetes and obesity.
Intake
of meat substitutes including tofu, RTC/RTE, natto, tempeh, and
others, is largely pragmatic among population preferring a vegan diet
as these products are rich in protein and calcium. For meeting these
increasing demand, companies are focusing on investment in research
and development to expand their product portfolio by launching
variety of meat alternative products for catering to different taste
preferences.
According
to the report by Transparency Market Research, the global meat
alternative market is projected to expand at a CAGR of 6.1%
during the period of forecast, 2018-2026.
The
companies are adopting strategies such as collaborations and
partnerships with a view to develop product portfolio. Few of the key
players profiled in this research study 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.
Sale
of Meat Alternatives to Increase with Increasing Hotels, Restaurants
and Cafes
Hotels,
restaurants and institutional catering companies are all major
players in the foodservice sector, with restaurants serving as the
primary purchasers of meat alternative products. In order to meet
demand of dynamic consumer groups, meat alternative products with a
wide range of quality and prices are offered by key companies. Growth
of HoReCa sector has emerged as one of the key factor driving growth
of the meat alternative consumption globally. Growth of the HoReCa
industry has always been linked to the prospects of the tourism
industry and tourism is the foremost demand driver for increasing
food consumption of a wide variety of food products.
Changing
Dietary Pattern Leading to Increasing Demand for Meat Alternatives
Cutting
off meat completely from the diet is difficult for many consumers,
hence, flexitarianism is regarded as an achievable dietary change for
many, rather than going completely vegan or vegetarian. Flexitarian
is a portmanteau of flexible vegetarianism and encompassed
individuals whose protein intake is dependent on sustainable sources
like plant-based foods, and drastically reduce the consumption of
meat in their diet. This trend is being backed by many food giants,
which collectively supports the growth of all meat substitute
products such as tofu, tempeh, RTC/RTE, natto, and others.
Manufacturers are also striving to develop plant-based food products
which offer meat-familiar texture and taste attributes, with the help
of advanced food technology. This demonstrates the intensity of
consumer demand for plant-based meat substitutes. Another major
concern about meat consumption is the carbon footprint and a
potential negative change in the climate. All soy-based food
production is being closely scrutinized for its carbon emissions,
including tempeh and tofu production in Indonesia, so as to compare
their sustainable advantages over the meat industry.
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