The Meat Substitute Market Growth Is Accelerated By Rising Demand For Plant-Based Foods


 

Meat Substitute Market


Meat substitute products such as tofu, tempeh, seitan, and textured vegetable protein are in high demand owing to their nutritional composition and environmental benefits. These products mimic the texture and flavor of meat and are a good source of protein, minerals, and vitamins. The increasing health consciousness and shift towards vegan and vegetarian diets have augmented the need for meat substitutes.

The global meat substitute market is estimated to be valued at US$ 2.15 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising demand for plant-based foods is one of the key trends fueling the growth of the meat substitute market. Changing consumer preferences towards healthy and sustainable eating habits have increased the popularity of meat alternatives worldwide. According to data, over 35% of global consumers are actively reducing their meat consumption. Food companies are launching innovative vegan food products to cater to this growing demand. Increasing investments in startups developing novel technologies for producing meat substitutes resembling animal meat's taste, texture, and appearance is also driving market growth.

Segment Analysis


The global meat substitute market is dominated by soy-based substitutes segment. Soy-based substitutes account for over 30% market share as soy is a versatile ingredient that can be processed into variety of plant-based meat alternatives like patties, sausages, crumbles etc. due to its high protein content and meat-like texture when cooked. It is a affordable option compared to other plant-based ingredients like pea, wheat and other grains.

Key Takeaways


The Global Meat Substitute Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The rising health consciousness coupled with growing vegan population is driving the demand for plant-based meat alternatives globally.

Regional analysis: North America currently dominates the global meat substitute market with over 35% value share. The U.S. accounted for majority of the regional market share. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period. Rising health consciousness, growth in vegan population and rising disposable incomes in countries like China and India is supporting the market growth. Countries like China, Japan and South Korea will drive the regional demand for meat alternatives.

Key players operating in the meat substitute market are I-Minerals Inc., Quarzwerke GmbH, Eczacibasi Esan, Micronized Group, Imerys Minerals, Sibelco Nordic, The Quartz Corp., Adolf Gottfried Tonwerke GmbH, LB MINERALS, Ltd., and Sun Minerals.



Explore more information on this topic, Please visit-

https://www.marketwebjournal.com/meat-substitute-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

Comments

Post a Comment

Popular posts from this blog

Riding the Wave: Navigating Dynamics in the Windsurf Foil Board Market

Image
   Windsurf Foil Board Market In the exhilarating world of water sports, the Windsurf Foil Board Market emerges as a key player, offering enthusiasts innovative equipment to enhance their riding experience. As this niche market continues to gain traction among windsurfing aficionados worldwide, it undergoes significant shifts influenced by various drivers, challenges, and geographical nuances. The Windsurf Foil Board Market size was valued at  US$ 167.4 Mn in 2024  and is expected to reach  US$ 268.6 Mn by 2031 , growing at a compound annual growth rate  (CAGR) of 7% from 2024 to 2031 Key Takeaways A prominent trend in the Windsurf Foil Board Market Demand is the increasing adoption of foil technology. Foil boards, equipped with hydrofoils beneath the waterline, enable riders to glide effortlessly above the water's surface, providing a thrilling and dynamic experience. This technological innovation has revolutionized the windsurfing landscape, attracting both seasoned profes
Read more

Navigating Opportunities In The Niemann-Pick Disease Drug Type C Treatment Market

Image
  Niemann-Pick Disease Drug Type C Treatment Market Key Takeaways The Niemann-Pick Disease Drug Type C Treatment Market is witnessing significant growth, driven by advancements in medical research and a deeper understanding of the disease pathology. Niemann-Pick Disease Type C (NPC) is a rare genetic disorder characterized by the accumulation of cholesterol and other lipids within cells, leading to progressive neurological and visceral symptoms. With an increasing focus on rare diseases and orphan drug development, the market for NPC treatment is expanding rapidly, offering hope to patients and caregivers. Key players in the pharmaceutical industry are actively investing in research and development to bring novel therapies to market, underscoring the potential for transformative interventions in NPC management. Global Niemann-Pick Disease Drug Type C Treatment Market is estimated to be valued at  US$ 45.40  million  in 2024, and is expected to exhibit a  CAGR 22.0 %  over the forec
Read more

Automation of Agricultural Operations to Drive the Agricultural Drones Market Growth

Image
  Agricultural Drones Market The agricultural drones market enables precision farming and monitoring crop health, soil conditions as well as pests and diseases. Agricultural drones carry cameras, sensors or GPS trackers and help in crop monitoring, crop spraying, field mapping as well as aerial imaging. Agricultural drones generate high-resolution images and thermal maps, improving crop scouting and yield predictions. They help farmers optimize inputs, maximize productivity and minimize environmental impact. The global agricultural drones market is estimated to be valued at US$ 19.24 Bn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the Agricultural Drones Market Size include Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., DELAIR SAS, DRONE VOLT, FlyGuys, Harris Aerial, ideaForge Technologies Pvt. Ltd., Kray Technologies, Nextech, Parrot Drones SAS, PrecisionHawk Inc., Sentera Inc., Shenz
Read more