Global Meat Substitutes Market Projected to Expand at a CAGR of 5.8% during the

Posted by Arslan on January 15th, 2019

Various diseases associated with meat have impacted the preferences of population towards consuming meat products. On the contrary, the demand for meat substitutes is increasing at a steady pace since past few years. Meat substitutes offer various health benefits and fill the diet gaps by providing essential elements that nourish human body.

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Intake of meat substitutes is largely observed among athletes and young generation as these products contain high amount of protein and calcium. Moreover, according to research, a large percentage of population across the globe is preferring vegan food that has spurred the demand for meat substitutes. To cater to this increasing demand, manufacturers are focusing on investing in research and development to expand their product portfolio by launching different types of meat substitutes with the possible permutations and combinations.

According to the report of Market Research Reports Search Engine, the global meat substitutes market is projected to expand at a CAGR of 5.8% during the period of forecast, 2017-2026.

Key market players are focusing on entering new markets by means of collaborations and partnerships with a view to reinforce their product lines. Few of the key players profiled in this research study include Beyond Meat, Amys Kitchen Inc.,Cauldron Foods,Meatless B.V., Garden Protein International, Inc.,and Quorn Foods.

Textured Vegetable Proteins to Witness High Demand in the Coming Years

Textured vegetable proteins (TVP) gained popularity since past years owing to the nutritious value they provide. They are a rich protein source with less fat content, which in turn has triggered their consumption in many low fat vegetarian dishes. Demand for TVP is expected to grow at a noteworthy pace in the upcoming years. Its demand is also influenced by a large percentage of population that prefers low carbohydrate meal in their daily diet. Awareness regarding healthy food consumption is expected to support demand for textured vegetable proteins across regions. In terms of revenues, the textured vegetable proteins segment is expected to lead the global market for meat substitutes during the analysis period. Tofu is another preferred substitute for meat, especially in the Asian countries.

Frozen Meat Substitutes Gaining High Steam

The concept of frozen food is growing healthily, with awareness regarding various advantages of frozen food triggering their consumption on a large scale. In addition, nutritional value provided by frozen food is relatively higher than fresh food, as freezing of food items prevents the loss of essential proteins and vitamins during their transport or storage. Frozen meat substitutes, a popular category of frozen food, are cost effective and convenient. Frozen meat substitutes are expected to witness a sale of over US$ 3 Bn by the end of the period of assessment with a high demand in the coming years.