About Mock Meat
Mock meat is also known as meat analogue, meat substitute, meat alternative, imitation meat, etc. that is made from wheat, protein, and starch and has taste & smell like egg, meats, and other animal-based foods. Covid-19 pandemic led a number of people across the globe to avoid consumption of meat and poultry items. More and more people are turning to vegan, vegetarian, or meat-reducer diets due to growing awareness about the animal cruelty and health benefits of the vegetarian or vegan diet has fueled the growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Mock Meat market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Beyond Meat (United States), OKK Foods (GROWTHWELL GROUP) (Singapore), Veggie Champ (India), Conagra, Inc. (United States), V2food (Australia), ITC Limited (India), Quorn Foods (United Kingdom), Maple Leaf Foods (Canada), Sunfed (New Zealand), Morningstar Farms (Kellogg's) (United States), Impossible Foods Inc. (United States), Daiya Foods Inc. (Canada), ADM (United States) and Lightlife Foods, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Mock Meat market by Type (Soy-based, Grain-based and Flour-based), Application (Household and Commercial) and Region.
On the basis of geography, the market of Mock Meat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Mock Meat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Vegetarian will boost the Mock Meat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Innovation in the Plant-based Meat Products and Penetration of Global Brands and Start-ups
Market Growth Drivers:
Surging Demand of Vegan Food Products Due to Growing Awareness About the Health Benefits of Plant-based Diets and Increasing Demand for Animal-based Food Taste in the Vegan Foods
Challenges:
Heavy Coloring and Textural Additives in Some Meat Alternatives
Restraints:
High Sodium Contents and Less Quality & Nutrition in the Plant-based Meats
Opportunities:
The Outbreak of Coronavirus and Bird Flu Has Created Significant Opportunities
Market Leaders and their expansionary development strategies
In October 2023, Israel's Redefine Meat has struck a partnership with importer Giraudi Meats to drive European distribution of its "New Meat" steak cuts produced on 3D printers
In January 2022, ITC Limited, a leading FMCG company announced the launch of a plant-based meat products range. The new range includes plant-based patties and nuggets, which have the taste of chicken. With this, the main goal of ITC is to meet the increasing demand for meat alternatives and target non-vegetarians for plant-based meat alternatives.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Mock Meat Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.