Meat Alternatives Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025

Meat Alternatives Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025

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Meat alternatives provide almost the same texture, appearance and flavor as of conventional meat products. Meat alternative is popularized under different names such as meat analogue, meat substitute, mock meat, faux meat, imitation meat, vegetarian meat or vegan meat. Many meat alternatives are plant based such as soy-based products including tofu and tempeh.

Some vegetarian meat alternative recipes are ages old, wheat gluten, rice, mushrooms, legumes, tempeh, yam flour or pressed-tofu. Flavors are added to make the finished product, improve its taste and imitate appearance and flavor of meat sausage, beef, chicken, ham, lamb, seafood, among others.  Yuba or tofu skin and textured vegetable protein (TVP) are other soy-based meat analogues are widely available in supermarkets and growing its popularity on the internet as well.

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The demand is not simply propelled by the increase in the vegan population but also by the healthy eating trends where consumers are willing to pay more for products with low calorie and high nutritive value.

Meat Alternatives Market Segmentation

The taste, texture and variety of meat alternatives has improved, consumers can purchase wide variety, the veggie bacon, flavored steak, are among few of many choices of products available in the market. These are available in almost all product types and the market is thus segmented based on product type; beef substitutes, pork substitutes, chicken and turkey substitutes and sea food substitutes.

The market for meat alternatives is further segmented by the raw material, the segmentation includes; wheat, soy and fermented products. Brands such as Quorn, product of Marlow Foods, provides fermentation based products and has gained significant acceptance from masses.

Numerous products are now available in the market at major supermarket chains and certain supermarkets have a dedicated area devoted to alternative meat and cheese products. Based on distribution channel meat alternatives market is segmented as, hypermarkets/supermarkets, online stores, health food stores and other retail formats

Meat Alternatives market Global Market Trends and Market Drivers:

Demand for plant-based meat alternatives is growing worldwide due to a variety of factors, including concerns about animal welfare and desires to eat healthier. However meat consumption is also on a rise in the U.S. in the recent years, drop in poultry prices have contributed significantly for this increase in the consumption.

Generally, meat alternatives are defined as a food made from non-meats, and occasionally without other animal products, such as dairy. Dietary restriction in various religion such as Hinduism, Islam, and Buddhism have a low to medium scale impact the consumption of these products. Meat alternatives are not very popular among religious groups but has certainly gives alternative to try something new. The market for meat alternatives includes vegetarians, vegans, and non-vegetarians looking for reducing their meat consumption for health or ethical reasons, and people following

Demand for meat alternatives has increased and has attracted big-name investors, including Bill Gates. Driven by health, environmental and animal-welfare concerns, alternative meat products have seen an upsurge in markets of the developed economies such as the U.S., with the large American meat companies such as Tyson Foods looking to expand in alternative meat by investing in Beyond Meat which is a producer of vegan meat. Other developed economies such as the U.K. has also seen a strong change in trends for meat substitute and healthy eating with nurseries across U.K. adapting meat free meals in their menu. The trend is estimated to remain strong in these developed countries with a high-volume demand.

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Meat Alternatives Market Key Players:

Variety of meat alternatives products have been introduced by the manufacturers and some of the global market players participating in meat alternatives market include; Beyond Meat,  Schouten Europe, Vegetarian Butcher, Schouten Europe B.V., Garden Protein International, Maple Leaf Foods Inc., Kraft Heinz Company

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