Meat Alternatives Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 06/29/2018 -- The market for meat alternatives, which are also called as meat substitute, meat analogue, vegan meat, and vegetarian meat, is flourishing on the back of changing dietary preferences of large masses from non-vegetarian to vegetarian and even vegan. These meat alternatives are almost similar in texture, flavor, and appearance as meat products but are made essentially using plant-based ingredients such as soy, mushroom, wheat gluten, tempeh, and tofu. The finished products are added with flavors for the improvement of taste and match that of meat sausages, ham, beef, chicken, seafood, and lamb.
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According to this report, the demand in the global meat alternatives market will expand at a notable CAGR during the forecast period of 2017 to 2025. This report on the global meat alternatives market has been compiled by an esteemed group of experienced research analysts who specialize in the industry of food and beverage and understand the commerce of it. It includes an elaborated overview of the current condition of the market for meat alternatives and provides insights into its futuristic potential based on in-depth analysis of various dynamics that will define the demand, such as drivers, trends, and restraints. The report segments the market into smaller aspects and gauges the potential of demand that can be expected out of various regions and countries. To finish a comprehensive study, the report also contains a featured chapter on the competitive landscape, representing which companies are currently ahead of the curve and what scenario of shares can be expected towards the end of 2025.
Growing ubiquity of smartphones and deepening penetration of social media has radically changed eating habits of large masses, particularly among the urban population who are now earning a considerable amount of disposable income than ever before. Meat is now considered a food ingredient that must be consumed sparingly owing to its relatively negative impact on human body in comparison to plant based vegetarian food. These meat alternatives help people from different countries with diverse taste-buds to find their match while maintaining dietary choices and consequently, the demand is expanding. Increasing health awareness and meat adulteration scandals, increasing health concerns for pets, environmental issues, and penetration of modernized retail chain are some of the other factors augmenting the demand in the global meat alternatives market. On the other hand, ill-effects of meat substitutes and availability of genetically modified soybeans are some of the factors obstructing the prosperity of the global meat alternatives market.
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The analysts of the report have observed an escalation in the consumption of meat in Asia Pacific in the recent past, and projected it as a region from where the demand will be incrementing aggressively, whereas North America is expected to remain the most profitable region in terms of volume of demand. A number of global companies have already made a foray into emerging economies such as China, India, Japan, and South Korea, spreading the word and opening up new revenue avenues. Based on source, the meat alternatives market can be segmented into soy-based, wheat-based, mycoprotein, and others such as milk-based, and rice-based.
E. I. du Pont de Nemours and Company, Archer Daniels Midland Company (ADM), Amy's Kitchen Inc., Garden Protein International, Inc., Morningstar Farms LLC., Quorn Foods, Inc., Meatless B.V., MGP Ingredients Inc., Vbites Food Ltd., Morning Star Farms, Beyond Meat, Blue Chip Group, Cauldron Foods UK are some of the notable companies currently operating in the global meat alternatives market.