Meat Alternatives Market growing at a CAGR of ~12% through 2029
Posted by vakhas on February 18th, 2020
DUBAI, UAE / ACCESSWIRE / Global value of meat alternatives market will rise 3X through 2029. Owing to pervasiveness of veganism, the market is projected for a stupendous CAGR of 12% during 2019 - 2029. The flexitarianism trend is also providing a strong impetus to the global meat alternatives market. Generation-Z and millennial demographic are particularly showing greater preference for healthier meat alternatives, thereby generating an upsurge in demand, suggests a new Future Market Insights (FMI) report.
"Manufacturers in meat alternatives market are selectively targeting gen-Z and millennial consumer demographics, as they prefer new experiences over products and are willing to follow healthier dietary practices. Plant-based protein is particularly gaining notable momentum recently," projects the FMI study.
Key Takeaways of Meat Alternatives Market Study
Meat Alternatives Market - Top Growth Drivers
Meat Alternatives Market - Key Restraints
Competition Landscape of Meat Alternatives Market
Some of the key players in meat alternatives market include, but are not limited to, MGP Ingredients, Wilmar International Ltd., Ingredion Inc., Cargill Inc., Archer Daniels Midland Company, Impossible Foods, Beyond Meat, and Atlantic Natural Foods LLC. Leading players are focused on realigning their strategies with shifting consumer demands. Product launches and distribution network expansion remains the key strategic focus area of market players. For instance, Atlantic Natural Foods LLC introduced TUNO (2019) which is a seafood alternative. On the other hand, PHW Group entered a strategic partnership with Beyond Meat to expand its retail distribution network.
More about the Report
This Future Market Insights study of 300 pages offers actionable insights on meat alternatives market. The market analysis is based on product type (fish protein, cultured meat, fermented proteins, insects, mycoprotein/algae, risofu, quorn, textured vegetable protein, tempeh, tofu, wheat gluten or seitan), nature (organic, conventional), source (mycoprotein, plant-based protein, insect protein), storage (shelf-stable, frozen, refrigerated), distribution (B2B, wholesalers, online retail, specialty stores, convenience stores, hypermarkets, supermarkets, independent small groceries, HoReCa), end-use (functional beverages, bakery & confectionary, breakfast cereals, sports nutrition, personal care products, protein and nutritional bars, infant nutrition, animal nutrition, pharmaceutical products, meat additives, aquaculture, B2C) across five regions (Latin America, North America, Europe, Middle East & Africa, Asia Pacific).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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Joined: July 27th, 2017
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