Pune, Sept. 02, 2020 (GLOBE NEWSWIRE) -- The global meat substitutes market size is projected to reach USD 8.15 Billion by 2026, exhibiting a CAGR of 8.4% during the forecast period. One of the important factors boosting the growth of the market is the propitious aspect of plant-based products, counted as healthier, sustainable, and eco-friendly. Moreover, the increasing number of vegans around the world will aid in market expansion. According to the Vegan Society, the number of vegans in Great Britain quadrupled between 2014 and 2019. In 2019 there were 600,000 vegans, or 1.2% of the population; 276,000 (0.5%) in 2016; and 150,000 (0.3%) in 2014.
As per the report, published by Fortune Business Insights, titled “Meat Substitutes Market Size, Share & Industry Analysis, By Source (Soy-based Ingredients, Wheat-based Ingredients, Textured Vegetable Proteins, and Other grain-based Ingredients), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, Other Retail Channels, and Foodservice), and Regional Forecasts, 2019 – 2026” the market stood at USD 4,340.5 million in 2018. The report delivers information on all the prevailing trends and features of the market. It offers higher insights and shares an all-encompassing statement of all the segments. It is put together after vast research followed by profound analysis to help companies, stakeholders, financers and potential investors. It is designed with an aim to provide a clearer picture of the market, which involves the latest innovations and development, product launches, acquisitions, collaborations & partnerships, and others.
Get Sample PDF Brochure with Impact of COVID19:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/meat-substitutes-market-100239
Food Security Concerns to Uplift Market Potential
The growing concern for food security will be an impelling factor for the expansion of the market. The increasing population and meat production inability to cater to the demand will also bode well for the market. According to the United Nations report, the world’s population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050.
The increasing worry about climate change will contribute positively to the meat substitutes market share. For instance, approximately 15% of anthropogenic greenhouse gas emissions come from livestock production. Such trends are expected to encourage key market players to expand their meat-substitutes portfolio.
Growing Inclination Towards Veganism to Accelerate Growth opportunities
The increasing popularity of veganism and velleity towards plant-based (vegan) dietary patterns will boost the meat substitutes market trends. The rapid decline in meat consumption in the developed market of Western Europe and North America is expected to create growth opportunities for the market.
Furthermore, the increasing awareness about the established link between overconsumption of red processed meat to a variety of non-communicable diseases such as cancer, heart disease, stroke, diabetes, liver disease, lung disease, and kidney disease will further favor market growth in the foreseeable future. The increasing pervasiveness of flexitarians, who are often driven to plant-based meat products because of ethical, environmental and health concerns is likely to fuel the demand for meat substitutes and therefore, promote market growth.
Inquire Before Purchasing this Report:
https://www.fortunebusinessinsights.com/enquiry/queries/meat-substitutes-market-100239
Online Retail Segment will Contribute to Healthy Growth
The mass merchandisers segment is expected to register a CAGR of 8.1% during the forecast period owing to the wider reach, greater shelf-space, attractive discounts, and bundling strategies. The online-retail segment will witness strong growth impetus owing to increasing knowledge about the benefits of e-commerce and its convenience.
List of the Leading Companies Profiled in the Global Meat Substitutes Market are:
- Tyson Foods, Inc.
- Greggs plc
- Marlow Foods Ltd
- Conagra Brands, Inc.
- Unilever NV
- Hilton Food Group plc
- Kerry Group Plc
- Savage River Inc.
- JUST, Inc.
- Impossible Foods Inc.
One of the Recent Developments Witnessed in the Meat Substitutes Market:
- May 2019: Beyond Meat, Inc. expanded its partnership with Zandbergen World’s Finest Meat to produce the brand’s innovative plant-based meats at a new manufacturing facility being constructed by Zandbergen in Zoeterwoude, the Netherlands.
Browse Detailed Overview of This Research:
https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Plant-based Food Products
- Meat Production and Consumption Trend
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Production and Consumption Patterns of Meat Substitute- Analysis and Forecast
- Overview of the Parent/Related Markets
- Global Meat Substitutes Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source (Value)
- Soy-Based Ingredients
- Wheat-based Ingredients
- Other grain-based Ingredients
- Textured Vegetable Proteins
- By Distribution Channel (Value)
- Mass Merchandisers
- Specialty Stores
- Online Retail
- Other Retail Channels
- Foodservice
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Source (Value)
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/meat-substitutes-market-100239
Have a Look at Related Research Insights:
Lab-grown Meat Market Size, Share and Industry Analysis By Type (Beef, Pork, Poultry, Seafood), Application (Food Retail, Foodservice Channels), and Regional Forecast 2019-2026
Plant-based Snacks Market Size, Share & Industry Analysis, By Nature (Organic, Conventional), By Type (Wafers, Snack Bar, Cookies), By Source (Vegetable, Fruit, Cereal, Tubers, Legumes), By Distribution Channel (Mass Merchandisers, Convenience Stores, Online Retails, Specialty Stores)and Regional Forecast, 2019-2026
Processed Meat Market Size, Share & Industry Analysis, By Type (Frozen, Canned, and Chilled), Animal Type (Poultry, Beef, Pork, and Others), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Specialty Stores, and Others), and Regional Forecast, 2020 – 2027
Healthy Snacks Market Size, Share & COVID-19 Impact Analysis, By Type (Meat Snacks, Nut, Seeds & Trail Mixes, Dried Fruit Snacks, Cereal & Granola Bars, and Others), By Distribution Channel (Supermarket/ Hypermarket, Specialty Stores, Convenience Stores, and Online Retails), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/meat-substitutes-market-9393