Plant-Based Meat Substitutes Are Fastest Growing Segment Fueling Growth Of Meat Substitute Market
Meat Substitute Market Meat substitute products such as tofu, tempeh, textured vegetable protein, and seitan are plant-based foods that mimic the appearance and flavor of meat. These products offer environmental and health benefits as they require less land and water than animal agriculture while being cholesterol free. 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 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the major trends in the meat substitute market is growing popularity of plant-based meats. Plant-based meat producers are focusing on developing meatless alternatives that closely mimic the sensory characteristics of animal meat such as taste, texture and juiciness. For instance, Impossible Foods and Beyond Meat are producing burgers, sausages and meatballs using plant-based ingredients like soy, coconut a...