DUBLIN, Oct. 14, 2020 /PRNewsCentre/ — The "Meat Substitute Market by Product Type, and Distribution Channel – Global Forecast To 2027" report has been added to ResearchAndMarkets.com’s offering.
This report provides an in-depth analysis of meat substitute market in five major geographies and emphasizes on the current market trends, market size, recent developments, and forecast till 2027. The meat substitute market is expected to grow at a CAGR of 15.1% from 2020 to 2027 to reach $17.5 billion by 2027.
Factors such as rising intolerance for animal protein, increasing vegan population, and significant venture investments in the plant-based meat products market are the major factors driving the growth of this market. However, the comparatively higher price range of meat substitutes, significant preference for animal-based products, and consumer preference for soy and gluten-free products are expected to hinder the growth of this market to some extent.
The study offers a comprehensive analysis of the overall meat substitute market with respect to product type, source, distribution channel, and geography.
Based on product type, the market is segmented into tofu, TVP, Tempeh, Seitan, burger patties, sausages, ground meat, meatballs, nuggets, crumbles, and others. In 2020, the tofu segment is estimated to hold the largest share of the overall meat substitute market. With its low cost, easy availability, and high nutritional & medicinal value, tofu is expected to dominate the market in the coming years as well.
Based on source, the meat substitute market is segmented into soy protein, wheat protein, almond protein, pea protein, rice protein, and others. In 2020, the soy protein segment is estimated to command the largest share of the overall meat substitute market. The preference for soy ingredients as the key source for meat substitutes is the major driver for this segment.
On the basis distribution channel, the meat substitute market is segmented into business-to-business and business- to-customers. In 2020, the B2C segment is estimated to account for the largest share of the overall meat substitute market due to the rising number of supermarkets & hypermarkets globally and the rise in sales of meat substitutes at these outlets.
On the basis of geography, the global meat substitute market is segmented into North America, Europe, APAC, Latin America, and the Middle and Africa. In 2020, Europe commanded the largest share of the global meat substitute market. The rising awareness for a protein-rich diet, increased health consciousness, higher vegan & vegetarian population, and higher adoption of technological advancements in the F&B industry are the major drivers for the European market.
The key players operating in the global meat substitute market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Axiom Foods (U.S.), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun -Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), and Nutrisoy Pty Ltd. (Australia) among others.
Key questions answered in the report:
Key Topics Covered:
1.1. Market Definition
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
126.96.36.199. Bottom-Up Approach
188.8.131.52. Top-Down Approach
184.108.40.206. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
3.2. Segment Analysis
3.2.1. Type Analysis
3.2.2. Source Analysis
3.2.3. Distribution Channel Analysis
220.127.116.11. B2C Distribution Channels Market
3.2.4. Regional Analysis
3.2.5. Competitive Landscape & Market Competitors
4. Market Insights
4.2.1. Increasing Intolerance for Animal Proteins
4.2.2. Growing Preference for Meat Substitute Products
4.2.3. Growing Investments in Meat Substitutes
4.2.4. Increasing Vegan and Vegetarian Population
4.3.1. Expensive Meat Substitutes
4.3.2. Preference for Animal-Based Products
4.3.3. Growing Preference for Soy and Gluten-Free Products
4.4.1. Emerging Economies
4.5.1. Mergers and Acquisitions in the Meat Substitutes Market
5. Covid-19 Impact on the Meat Substitutes Market
6. Investment and Funding Scenario in the Meat Substitutes Market
6.2. Investments/Funding Scenario
7. Global Meat Substitutes Market, by Type
7.3. Textured Vegetable Protein (TVP)
7.6. Burger Patties
7.8. Ground Meat
7.12. Other Meat Substitutes
8. Global Meat Substitutes Market, by Source
8.2. Soy Protein
8.3. Wheat Protein
8.4. Pea Protein
8.5. Almond Protein
8.6. Rice Protein
8.7. Other Sources
9. Global Meat Substitutes Market, by Distribution Channel
9.2. Business-To-Consumer (B2C)
9.2.1. Modern Groceries
9.2.2. Convenience Stores
9.2.3. Specialty Stores
9.2.4. Online Retail
9.3. Business-To-Business (B2B)
10. Meat Substitutes Market, by Geography
10.2.6. Rest of Europe
10.3. North America
10.4.4. Rest of Asia-Pacific
10.5. Latin America
10.6. Middle East and Africa
11. Competitive Landscape
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
12. Company Profiles (Business Overview, Product Portfolio, Financial Overview, and Strategic Developments)
12.1. Beyond Meat, Inc.
12.2. Impossible Foods, Inc.
12.3. Garden Protein International Inc. (A Part of Conagra Brands, Inc.)
12.4. Amy’s Kitchen, Inc.
12.5. The Hain Celestial Group, Inc.
12.6. Sahmyook Foods
12.7. Axiom Foods, Inc.
12.8. Lightlife Foods, Inc. (A Part of Maple Leaf Foods, Inc.)
12.9. Marlow Foods, Ltd. (Part of Monde Nissin Corporation)
12.10. Taifun-Tofu GmbH
12.11. Atlantic Natural Foods, LLC (Part of Aft Holdings, Inc.)
12.12. Vbites Food, Ltd.
12.13. Nutrisoy Pty, Ltd.
13.2. Available Customization
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SOURCE: Research and Markets