Industry Background:
Meat alternative is defined as the food items which is similar to meat taste. It is made from plant-based and other ingredients. It provides high protein which is used to replace animal flesh. Various meat alternative products such as Tofu, Tempeh, and others are widely used in the hotel sector. For instance, in 2018, according to the India Brand Equity Foundation, the hotel, and tourism sector attracted more than USD 12 billion of FDI. Hence, increase usage of meat alternative products in the hotel sector and increasing usage of meat alternative in numerous application such as food processing, hotel, household, among others will affect the growth of the market in future
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Meatless B.V. (Netherland), Amy's Kitchen (United States), Cauldron Foods Ltd (United Kingdom), Beyond Meat (United States), Vbites Foods Ltd (United Kingdom), Gardein (Canada), Quorn Foods Inc. (United States), Blue Chip Group Pty Ltd (Australia), Kellogg Company (United States) and Nutrisoy Pty Ltd (Australia) |
According to AMA, the market for Meat Alternates is expected to register a CAGR of 13.5% during the forecast period to 2030. This growth is primarily driven by Rising Health Concerns Such as Obesity and Diabetes Owing to the Consumption of Meat Products and Rising Awareness among Consumer Regarding the Benefits Provided by Meat Substitute Products, Such as Weight Loss, General Wellbeing, among others.
Globally, a noticeable market trend is evident Growing Preferences of Population towards Consuming Meat Products across the World The Food Products sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Meatless B.V. (Netherland), Amy's Kitchen (United States), Cauldron Foods Ltd (United Kingdom), Beyond Meat (United States), Vbites Foods Ltd (United Kingdom), Gardein (Canada), Quorn Foods Inc. (United States), Blue Chip Group Pty Ltd (Australia), Kellogg Company (United States) and Nutrisoy Pty Ltd (Australia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The meat alternative market appears to be highly fragmented and with the presence of several companies including Meatless B.V. (Netherland), Amy's Kitchen (United States), Cauldron Foods Ltd (United Kingdom), among others.
Key Developments in the Market:
In March 2024, Planteneers and Handtmann have joined forces to revolutionize the market with a manufacturing innovation to create marbled and fat-layered alternatives to meat.
In April 2019, the Impossible Foods Inc. (United States) company has launched a product which is made from plants and taste like ground beef. Hence, this launched will strengthen the company presence in the meat alternative market across the globe
Influencing Trend:
Growing Preferences of Population towards Consuming Meat Products across the World
Market Growth Drivers:
Rising Health Concerns Such as Obesity and Diabetes Owing to the Consumption of Meat Products and Rising Awareness among Consumer Regarding the Benefits Provided by Meat Substitute Products, Such as Weight Loss, General Wellbeing, among others
Challenges:
Low Adoption of Meat Alternative Products in Gulf Countries such as Kuwait, Qatar, among others
Restraints:
Issue related to the High Processing Cost Involved in the Production of Meat Substitutes, as Compared to Natural Meat Products
Opportunities:
Growing Demand from Emerging Economics Market such as china, India, Brazil, among others and Rising Preference for Organically Grown Food Products among Consumers across the Worldwide
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Meat Alternates Market
- Analysis about New Entrants in Meat Alternates Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Meat Alternates Study Sheds Light on
The Meat Alternates Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Meat Alternates industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Meat Alternates industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.