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Meat Substitutes Market Size Worth $5.81 Billion By 2022 Owing To Growing Preference For A Vegan Diet And Rising Health Awareness | Grand View Research, Inc.

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Meat Substitutes Market Size Worth $5.81 Billion By 2022 Owing To Growing Preference For A Vegan Diet And Rising Health Awareness | Grand View Research, Inc.

April 12
04:28 2021
Meat Substitutes Market Size Worth $5.81 Billion By 2022 Owing To Growing Preference For A Vegan Diet And Rising Health Awareness | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the growth of the meat substitutes market is driven by rising health concerns along with growing awareness among consumers regarding the lack of protein. Another major reason fuelling the growth of the market is the growing popularity of veganism amongst the millennial generation.

The global meat substitutes market size is expected to reach USD 5.81 billion by 2022. The market is expected to witness a healthy CAGR of 7.5% during the forecast period. The demand for meat substitutes is being driven by a growing desire for a vegan diet due to many health benefits and environmental issues. To meet the rising product demand, manufacturers are taking significant steps to produce better products and expand their product range.

According to several studies, the consumption of large amounts of red and processed meat has been linked to an increased risk of colorectal cancer and heart diseases. As a result, people are increasingly turning to soy and gluten-free foods, as soy-based foods can absorb rich flavors from other foods. 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/meat-substitutes-market

Meat Substitutes Market Report Highlights

 On the basis of product, Seitan, which has a higher sodium and protein content than tempeh and tofu, is expected to be the fastest-growing product segment. The seitan product segment is expected to register a CAGR of 10.2% over the forecast years.

Based on the raw material, soy-based products are expected to account for a significant market share. Soy is the most well-known meat replacement and is a complete protein source. Soy-based products can absorb rich flavors from other foods, which contributes to their high market penetration.

Wheat-based protein is projected to reach USD 308.3 million by 2022 with a CAGR of 9.9% during the forecast period.

Asia Pacific is expected to register the highest CAGR over the forecast period.

In September 2020, plant-based burger market Impossible Foods launched plant-based sausage products in Hong Kong. The sausage patty is made from soy protein and is the company’s second product since its faux beef burger in 2016.

Get Sample Copy Of This Report @ https://www.grandviewresearch.com/industry-analysis/meat-substitutes-market/request/rs1

Meat Substitutes Market Segmentation

Grand View Research has segmented the global meat substitutes market on the basis of product, raw material, and region:

Meat Substitutes Raw Material Outlook (Revenue, USD Million, 2012 – 2022)

     Soy-based
     Wheat-based
     Mycoprotein
     Others

Meat Substitutes Product Outlook (Revenue, USD Million, 2012 – 2022)

     Tofu
     Tofu-based
     Tempeh
     Textured Vegetable Protein (TVP)
     Other Soy Products
     Seitan
     Quorn
     Others

Meat Substitutes Regional Outlook (Revenue, USD Million, 2012 – 2022)

     North America
        • The U.S.
     Europe
        • Germany
        • France
        • The U.K.
     Asia Pacific
        • China
        • India
        • Japan
     Central & South America
     Middle East & Africa

Key Players in the Meat Substitutes Market
    • AMY’s Kitchen Inc.
    • Vbites Food Ltd
    • Beyond Meat
    • Morning Star Farms
    • Blue Chip Group
    • MGP Ingredients Inc.
    • Cauldron Foods U.K
    • Quorn Foods
    • Garden Protein International Inc.
    • Meatless B.V.

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/1043/ibb

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/meat-substitutes-market

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