Northbrook, IL 60062 -- (SBWIRE) -- 11/10/2023 -- The meat substitutes market, currently valued at USD 1,889.1 million in 2021, is expected to reach USD 4,041.3 million by 2027, representing a notable CAGR of 13.5%. The ongoing trajectory of growth in this sector is fueled by various factors, including the increasing adoption of plant-based proteins, substantial investments in plant-based protein ingredients, and a growing preference for pea protein among consumers. Notably, the surge in the adoption of plant-based protein is notably pronounced among millennial consumers, indicative of the shifting consumer preferences towards healthier and more sustainable dietary choices.

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Innovative Technology Enhancements Driving Taste and Texture:

The advent of extrudable fat technology is revolutionizing the plant-based food industry by replicating the textures and flavors of animal fat in plant-based meat alternatives. This technology, by enabling the fusion of fat and protein in a manner that mimics the natural marbling of meat, ensures improved flavor release, texture, taste, and moisture retention. The result is a more appealing and authentic sensory experience for consumers, further enhancing the market potential of plant-based alternatives.

Health Benefits and Growing Demand for Fermented Meat Substitutes:

The increased awareness surrounding the health benefits of fermented food products, particularly in relation to meat substitutes like tempeh, has significantly contributed to the growing demand for such alternatives. Tempeh, known for its cake-like consistency and fermentation-induced digestibility, offers various health benefits, including the regulation of sugar levels, reduction of cholesterol, and improved immunity. As consumers prioritize health and wellness, the demand for nutrient-rich substitutes like tempeh is expected to witness a notable upsurge.

North America: Leading the Global Meat Substitutes Market:

In 2021, North America accounted for a significant market share of 38.8% in the meat substitutes market. With the US leading the way in the adoption of plant-based products, the region has witnessed an increasing trend toward dairy and meat alternatives, driven by the growing awareness of environmental sustainability and the pursuit of healthier lifestyles. Notably, key players such as Cargill (US), DuPont (US), Archer Daniels Midland Company (US), and others are actively investing in the development and distribution of meat substitutes, catering to the evolving preferences of consumers in the region.

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Key Market Players:

The competitive landscape of the meat substitutes market is dominated by major players such as ADM (US), Ingredion Incorporated (US), DuPont (US), Kerry Group (Ireland), and Roquette Frères (France). These key players are actively driving innovations and product developments, contributing to the ongoing expansion and diversification of the global meat substitutes market.

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