Meat Analogue Market Scope
A meat analogue is a manufactured food product that tastes and looks like meat. Vegetarians and other health-conscious people eat meat analogs as they are relatively high in protein. They are also very versatile and can be baked, broiled, or roasted. Soy, beans, wheat gluten, and/or nuts are used as the main protein source, with other ingredients used to provide texture and a meat-like taste. Meat analogue is made from vegetarian ingredients and often without animal products such as dairy. Meat analogs can be purchased to replace steak, hamburger, chicken, hot dogs, sausage, and many other meat products. The vegetarians and vegans mostly prefer to consume meat analogues. However, non-vegetarian who wants to reduce meat consumption also prefer meat analogues.
According to AMA, the Global Meat Analogue market is expected to see growth rate of 7.2%
Research Analyst at AMA estimates that United States, United Kingdom Vendors will contribute to the maximum growth of Global Meat Analogue market throughout the predicted period.
ADM (United States), Dupont (United States), The Nisshin Oillio Group (Japan), Sonic Biochem Limited (India), MGP Ingredients (United States), Garden Protein International (Canada), Beyond Meat (United States), Amy’s Kitchen (United States), Quorn Foods (United Kingdom) and Morningstar Farms (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are The Meatless Farm Co. (United Kingdom) and Vbites (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Meat Analogue market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Other Soy Products, Seitan, Quorn and Other), by Application (Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Online Retailers and Other) and Region with country level break-up.
On the basis of geography, the market of Meat Analogue has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).
On 24 Oct 2018, Meatless Farm Co., a United Kingdom-based company has announced the launch of frozen food products into United States, New Zealand, and Australian markets. The company is focusing on plant-based meat products. The company is planning to build 2 manufacturing sites, one in Poland for the European markets and another one in the United States or the Netherlands.
Market Trend
- More And More People Are Exploring Vegan And Vegetarian Alternatives
Market Drivers
- The Rising Demand For Chilled Meat Analogues
- Rising Health Concerns, Due To Increasing Obesity Levels Brought On By The Consumption Of Meat Products
- Health Benefits Of Meat Substitutes
- Increased Preference For Vegetarian And Vegan Foods
Opportunities
- Exploring Technological Advancements To Develop New Product Lines
- Growth Potential In The Asia Pacific Market
Restraints
- Relatively High Price Of Meat Substitute Products
- Lack Of Good Taste In Comparison To Natural Meat Products
Challenges
- Perception Of Taste
- Genetically Modified (GM) Soybeans
- Variations In The Prices Of Raw Material
Key Target Audience
Meat Analogue Manufacturers, Meat Analogue Traders/Distributors, Meat Analogue Distributors, Regulatory Bodies, Government Bodies and Downstream Vendors