Latest News- Meat Substitutes Market: Retail is expected to lead the Distribution Channel segment during 2025-2029

The Meat Substitutes Market is being driven by New product launches in global meat substitutes market

The Meat Substitutes Market is expected to grow at a CAGR of 18.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 12284.5 million. In the global meat substitutes market, companies are making significant investments in research and development to launch superior products and expand their offerings to address the growing demand, particularly from emerging economies. To cater to consumer preferences and dietary requirements, market participants are actively engaging in strategic collaborations and partnerships. However, challenges persist, such as the beany flavor often associated with meat substitutes, which can be off-putting for some consumers. Additionally, soy and wheat allergies are common, causing adverse reactions like rashes, itching, throat irritation, vomiting, and nausea. To mitigate these issues, scientists worldwide are innovating to eliminate the allergens responsible for these reactions, enhancing the palatability and nutritional value of meat substitute offerings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Retail
  • Foodservice
• Product Type
  • Soy-based
  • Wheat-based
  • Mycoprotein-based
  • Others
• Form Factor
  • Solid
  • Liquid
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• New product launches in global meat substitutes market
• Decline in global meat consumption
• Increase use of mycoprotein based meat substitutes

However, the market also witnesses some limitations, which are as follows:

• Relatively high price of meat substitutes
• Adherence to stringent regulations and guidelines in meat substitute products
• Allergy concerns among consumers of soy products

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Market Scope in Meat Substitutes Market Research Report

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Research Analysis Overview

The Meat Substitutes Market encompasses various plant-based alternatives such as Tofu, Bean Curd (Soybean Curd), Plant-Based Burgers, and Patties. These options, including Soy Milk and Cooked Soybeans, offer significant Nutrition Value with essential elements like Protein, Calcium, Potassium, and Iron. The shift towards these substitutes stems from concerns over Intensive Animal Farming, Animal Welfare, and Health issues like Non-Communicable Diseases, Digestive Problems, Obesity, Heart Disease, and Diabetes. Key players in this sector include the Good Food Institute, Next Meats, Vegan Meat India, Novameat, and various brands offering Plant-Based Chicken, Beef, Pork, Fish, Crumbles, and Grounds.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to ensure food safety and extend product shelf life. According to Technavio, the market's size is determined by the consolidated revenue of participating vendors. This market excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. Factors driving market growth include the health benefits associated with consuming minimally processed foods, such as tofu, soybean curd, soy milk, and plant-based burgers and patties. These foods offer essential nutrients like iron, potassium, protein, calcium, vitamin B12, and are increasingly popular among individuals following vegan diets or adopting vegetarian lifestyles for health reasons. Consumers are increasingly conscious of their fat intake and prefer these alternatives to traditional meat products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/