DUBLIN–(BUSINESS WIRE)–The “Global Meat Substitutes Market by Source (Soy Protein, Wheat Protein, Pea Protein, and Other Sources), Product (Tofu, Tempeh, Seitan, Quorn, and Other Products), Type (Textured, Concentrates, and Isolates), Form, Category, and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s providing.
In response to the writer, the meat substitutes market is estimated to be valued at USD 1.9 billion in 2021 and is projected to achieve USD 4.0 billion by 2027, recording a CAGR of 13.5%, by way of worth.
The market is primarily pushed by components reminiscent of growing health-consciousness amongst customers and an increase in consumption of plant-based meals.
North America area accounted for the market share within the meat substitutes market owing to the rising investments and customers’ demand for vegan merchandise within the area. Nonetheless, one of many restraining components within the development of meat substitutes market is the excessive manufacturing price of meat substitute merchandise.
By product, the tempeh phase is projected to account for the second-largest market share in the course of the forecast interval
Primarily based on product, the tempeh phase is projected to account for the second-largest market share out there in the course of the forecast interval. Tempeh is a superb substitute for floor beef. There are quite a few well being advantages provided by tempeh.
For instance, it helps in growing the antibodies and lowering the sugar ranges, which reduces the chance of diabetes. It additionally helps in decreasing levels of cholesterol, which helps in lowering the chance of coronary heart ailments.
By supply, the soy phase is estimated to account for the biggest share
The soy phase of the meat substitutes is dominating the market. Soy protein has been one of the vital most popular elements for imparting the meat texture within the last product. Soy is majorly used as a textured protein out there, moderately than getting used as an isolate or focus. Additionally, it’s the least expensive plant-based supply obtainable within the world market.
The Asia Pacific area is projected to develop on the highest CAGR in the course of the forecast interval
The Asia Pacific area is projected to be the fastest-growing marketplace for the interval thought-about for this examine. The important thing components driving development within the Asia Pacific area embrace well being advantages, animal welfare, setting security, price affordability, and the rising number of plant-based meat merchandise.
Heightened consciousness by way of world animal welfare organizations, reminiscent of Folks for the Moral Therapy for Animals (PETA), has led to folks contemplating a meat-free weight-reduction plan.
The meat substitutes market is segmented region-wise, with an in depth evaluation of every area. These areas embrace North America, Europe, Asia Pacific, South America, and RoW (Center East and Africa).
Market Dynamics
Drivers
- Rising adoption of plant-based meals
- Growing vegan & flexitarian inhabitants the world over
- Growing weight problems globally
- Growing investments in plant-based protein elements
- Growing inclination for pea protein elements
Restraints
- Rising market of cultured meat and bug protein
- Allergy issues amongst customers for soy and wheat merchandise
Alternatives
- Rising markets illustrate the good potential for meat substitutes
- Growing authorities initiatives
- Technological developments in extrusion and processing
Challenges
- Pricing strain
- Notion of style
Firms Talked about
- A&B Substances
- ADM
- All Natural Treasures GmbH
- Axiom Meals
- Batory Meals
- Beneo
- Cargill
- Crespel & Deiters
- DuPont
- ET Chem
- Ingredion Integrated
- Kerry Group
- Puris
- Roquette Freres
- Shandong Jianyuan Group
- Sonic Biochem Ltd.
- Sotexpro S.A
- The Inexperienced Labs Llc
- The Nisshin Oillio Group, Ltd.
- Wilmar Worldwide Restricted
For extra details about this report go to https://www.researchandmarkets.com/r/ktnly5
