Meat replacements are nutritious alternatives to meat. They resemble actual meat in terms of taste and, in some cases, appearance, and they are also healthful and nutritional solutions. Meat replacements are made from soy, wheat, and other substances. Tofu is one of the alternatives and is commonly used as a substitute for pork, chicken, beef, and other meats.
The "Global Meat Substitutes Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the meat substitutes market with detailed market segmentation by source, product type, distribution channel, and geography. The report provides key statistics on the market status of the leading meat substitutes market players and offers key trends and opportunities in the market.
- Based on source, the global meat substitutes market is segmented into soy, wheat, mycoprotein, others.
- On the basis of product type, the market is segmented into tofu & tofu products, tempeh, seitan, quorn, others.
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online retail, and others.
- Surging demand for plant-based meat products contributes to the growth of the meat substitutes market.
- Rising urbanization and increasing per capita disposable income to boost market growth of meat substitutes .
- An increase in the incidence of health disorders and fitness awareness among consumers is also boosting the market growth.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
- Wide availability of substitutes.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The meat substitutes market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the meat substitutes market in these regions.
IMPACT OF COVID-19 ON MEAT SUBSTITUTES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the meat substitutes market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from meat substitutes market are anticipated to lucrative growth opportunities in the future with the rising demand for meat substitutes in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the meat substitutes market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amy's Kitchen, Inc.
- Archer Daniels Midland Company
- Beyond Meat
- Cauldron Foods
- CRESPEL & DEITERS
- E. I. du Pont de Nemours and Company
- Roquette Freres
- Wilmar International Limited
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.