Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Meat Substitutes: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Meat Substitutes estimated at US$1.8 Billion in the year 2022, is projected to reach a revised size of US$2.9 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.
Tofu, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$1 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Tempeh segment is readjusted to a revised 6.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $536.4 Million, While China is Forecast to Grow at 5.2% CAGR
The Meat Substitutes market in the U.S. is estimated at US$536.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$497.3 Million by the year 2030 trailing a CAGR of 5.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 8.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.8% CAGR.
Select Competitors (Total 58 Featured) -
- Amy`s Kitchen, Inc.
- Archer Daniels Midland Company
- Beyond Meat
- Dow, Inc.
- DuPont de Nemours, Inc.
- Gardein
- Meatless
- MGP Ingredients, Inc.
- Morningstar Farms L.C
- Quorn Foods
- Sonic Biochem Extraction Pvt., Ltd.
- The Nisshin OilliO Group Ltd.
- VBites Foods Limited
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 331 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.8 Billion |
| Forecasted Market Value (USD) by 2030 | $2.9 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Meat Substitutes - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of COVID-19 Pandemic and Looming Global Recession
- An Introduction to Meat Substitutes
- Global Market Prospects & Outlook
- Soy-based Ingredients: Largest Segment
- Mass Merchandisers Emerge as a Preferred Distribution Channel
- Developed Regions Lead, Developing Economies to Boost Growth
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Meat Substitutes: Potential as Future of Non-Meat Foods
- Health Benefits to Spur Demand for Meat Analogs
- Market Benefits from the Growing Popularity of Vegan & Flexitarian Diets
- Meat Substitutes: Potential Role in Addressing Global Food Security, Safety and Sustainability
- Rising Demand for Plant-based Meat Products Among Millennials Boosts Market Prospects
- Rising Incidence of Lifestyle Diseases and Chronic Medical Conditions Transform Dietary Preferences in Favor of Meat Substitutes
- Rising Demand for Pea Protein Ingredients
- Soy Protein: An Important Meat Substitute
- Wheat Proteins Emerging as an Important Low-Fat Food
- Growing Demand for Edible Fungus
- Tofu: Widespread Use in Plant-based Burgers & Patties
- Tempeh Market Benefits from Health Benefits of Fermented Foods
- Technological Advancements in Processing and Extrusion Processes to Boost Market
- Challenges Facing Meat Substitutes Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/338eob-substitutes?w=12
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