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 introduce superior products and broaden their offerings to address the increasing demand, particularly from emerging economies. Market participants are actively pursuing collaborations and partnerships to enhance their product portfolios. However, challenges persist in the form of consumer aversion to beany flavors and the prevalence of soy and wheat allergies. Scientists worldwide are working diligently to eliminate the allergens responsible for adverse reactions and non-nutritional properties in soy-based meat substitutes. This ongoing innovation is crucial for companies to cater to the diverse and growing consumer base. 

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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
    • France
    • Germany
    • Italy
    • The Netherlands
    • UK
  • North America
    • US
    • Canada
  • 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 to animal products, including Tofu and Bean Curd (Soybean Curd), Plant-Based Burgers and Patties, Soy Milk, and Cooked Soybeans. These options offer similar Nutrition Value with essential elements like Iron, Potassium, Protein, and Calcium. The market's growth is driven by concerns over Intensive Animal Farming, Animal Welfare, and Health issues such as Non-communicable Diseases, Digestive Problems, Obesity, Heart Disease, and Diabetes. Companies like the Good Food Institute, Next Meats, Vegan Meat India, Novameat, and others are leading the way in 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. The market's expansion will be fueled by the health benefits linked to minimally processed foods, such as tofu, soybean curd, and plant-based burgers and patties. These foods offer essential nutrients like iron, potassium, protein, calcium, vitamin B12, and are popular among individuals following vegan diets or vegetarian lifestyles for health reasons. Consumption of these alternatives to meat can help reduce fat intake, making them a preferred choice for health-conscious consumers.. 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/