Meat Substitute Market worth US$ 5.0 Billion 2029 with a CAGR of 11.9%


 The report "Meat Substitute Market, By Type (Tofu Based, Tempeh Based, Textured Vegetable, Protein Based, Quorn Based, Seitan Based, and Others), By Source (Soy, Wheat, Mycoprotein, Others (Milk, Rice, Pulses)), By Category (Frozen, Refrigerated, and Shelf-Stable), and Region - Global Forecast to 2029" 

Meat substitute market is projected to grow from US$ 1.8 billion in 2020 to US$ 5.0 billion by 2029. Increasing health concerns and growing preference for vegetarian diets among individuals across the globe are major factor for growth of the global meat substitute market. In addition, increasing incidence of obesity due to processed meat consumption and several disease outbreaks in animals are some among the major factors expected to boost growth of the global meat substitute market in the near future. Furthermore, increasing disposable income of individuals in order to fulfill their dietary supply as alternative for meat is also another factor anticipated to support growth of the global meat substitute market in the next ten years.

Key Highlights:

  • In October 2018, for instance, Cauldron Foods Ltd. has initiated Discover Cauldron Inspiration Everyday with redesigned product packaging of meat substitute product to capture a younger target audience.

Key Market Insights from the report:          

The global meat substitute market accounted for US$ 1.8 billion in 2020 and is projected to register a CAGR of 11.9% over the forecast period. The market report has been segmented on the basis of type, source, category, application, and region.

  • By type, the protein based segment is accounted for major revenue share in 2018, since textured soy protein is the basic ingredient in many soy-based meat substitute products.
  • By source, the soy segment accounted for major revenue share in 2018, owing to its nutritional contents, as it is a source of calcium and linoleic acid.
  • By category, the frozen segment is accounted for major revenue share in 2018 due to rising demand for convenience foods, due to rising disposable income levels of consumers.
  • By region, Europe meat substitute market accounted for major revenue share of the global meat substitute market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established meat substitute brands in the countries in the region. Increasing health awareness and high prevalence of obesity are some major factors expected to support growth of the Europe market over the forecast period. The market in North America is expected to account for second-highest revenue share in 2018.

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/496

The prominent player operating in the global meat substitute market includes Amys Kitchen Inc., Beyond Meat, Inc., Cauldron Foods Ltd., Garden Protein International, Inc., Meatless B.V., Quorn Foods, Inc., Vbites Food, Ltd., Morningstar Farms L.C., MGP Ingredients Inc., and Sonic Biochem Extractions Limited.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

Email- sales@prophecymarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Sea Salt Caramel Market- New flavor invented by Key players – Nestle, Puratos and Kerry Group

Image
  The   Sea Salt Caramel Market   accounted for US$ 637.3 Mn in 2020 and is estimated to be US$ 1064.1Mn by 2029 and is anticipated to register a CAGR of 5.3%. Global Sea Salt Caramel Market is rising due to its enhanced flavor which is in demand. Its sweet and salty taste mixture attracts the consumer more towards itself. Sea salt caramel market is covering the mainstream culture worldwide. Various companies are focusing in the ion of various different s related to sea salt caramel taste. The report " Global Sea Salt Caramel Market  ,  By Form (Powder, Liquid/Syrup), By Application (Fillings, Toppings, Colors, Flavors, Others), By End Use (Bakery, Confectionary, Ice Creams, Desserts, Alcoholic Beverages, Non – Alcoholic Beverages, Others), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2030 Key Highlights: In December 2020, magnum company has launched vegan ice cream which is sea salt carame
Read more

Bottled Water Market is estimated to be US$ 627.83 billion by 2030 with a CAGR of 11.3% during the forecast period

Image
  The  Bottled Water Market  is growing as people become more aware of the negative consequences of drinking contaminated water. The global bottled water market is being propelled forward by the increasing penetration of the food service industry, the expanding penetration of organized retail, and the need for a healthy and active lifestyle. The global rise of the bottled water industry can be attributed to a growing urban population, rising personal discretionary income, higher living standards, and the development of eco-friendly bottle materials. The market for biodegradable bottled water is likely to rise as government measures to promote the use of eco-friendly and sustainable packaging gain traction. Even during the COVID-19 pandemic, producers have taken a number of steps to support market growth. Consider the following: PepsiCo, a worldwide food and beverage business, will distribute 35,000 bottled water and canned soft drinks to UAE workers in September 2020, in collaboration
Read more

Energy Drink Market is estimated to be US$ 114.70 billion by 2030 with a CAGR of 7.3% during the forecast period

Image
  Energy Drink Market   accounted for US$ 57.4 billion in 2020 and is estimated to be US$ 114.70 billion by 2030 and is anticipated to register a CAGR of 7.3%. Consumers can get a boost of energy from energy beverages. Energy drinks boost not just physical and mental performance, but also mental attentiveness. Some energy drinks are sold as beverages, while others are sold as nutritional supplements. Caffeine, taurine, guarana, and B vitamins are all common constituents in energy beverages. Caffeine is used to provide stimulation, and taurine is needed for cardiovascular and skeletal muscle development. Carbonation is optional in energy drinks. Powdered energy drinks can also be blended with water or juice. The report " Global Energy Drink Market, By Product (Alcoholic and Non-Alcoholic), By Product Type (Non-organic, Organic, and Natural), By Target Customer (Teenagers, Adults, and Geriatric Population), By Distribution Channel (On-trade and Off-trade Direct Selling), and By Regi
Read more