Meat Substitute Market by Product (Tofu-based, Tempeh-based, TVP-based, Seitan-based, Quorn-based, and Others), Source (Soy-based, Wheat-based, Mycoprotein, and Others), Category (Frozen, Refrigerated, and Shelf Stable): Global Opportunity Analysis and Industry Forecast, 2019–2026
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A00678
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Pages: 143
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Sep
2019 |
32560 Views
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Author(s) :
Himanshu Vig
, Roshan Deshmukh
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Tables: 62
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Charts: 24
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Formats*:
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COVID-19
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The global meat substitute market size is expected to be valued at $8.1 billion by 2026, registering a CAGR of 7.8% from 2019 to 2026. Meat substitutes include a wide variety of products derived from plant-based and other organic sources. These include tofu; tempeh; textured vegetable protein; Quorn; seitan; and other ingredients such as pea, lentils, and rice.
The incidence of obesity-related disorders, such as diabetes, cardiovascular diseases, and others, has considerably increased in the last few years. According to the Organisation for Economic Co-operation and Development (OECD), obesity is highly prevalent particularly in the U.S., Mexico, and England, wherein 47%, 39%, and 35% of the population, respectively, is estimated to suffer from obesity by 2030. Individuals in high-income geographical regions, such as North America and Western Europe, are more prone to diabetes, cancer, and other critical health issues, owing to their unhealthy food and lifestyle habits.
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Increase in incidence of such health disorders boosts health and fitness consciousness among consumers, which, in turn, is expected to drive the market growth. In addition, rapid development of the food service industries and attractive marketing & promotional strategies of companies for vegetarianism have positively impacted the growth of the global market. However, consistent increase in the number of innovative, low-cholesterol meat product launches such as lean meats in developed markets restrains the growth of the meat substitute market. On the contrary, rise in health concerns in developed countries has increased the number of consumers preferring vegetarian food, which is projected to provide lucrative opportunities to market players for launching innovative meat substitute products in the upcoming years.
The global meat substitute market is segmented into product, source, category, and region. By product, the meat substitute market is categorized into tofu, tempeh, textured vegetable protein (TVP), Quorn, seitan, and others. On the basis of source, it is meat substitute market segmented into soy, wheat, mycoprotein, and others (pea protein, rice protein, and other sources). Depending on category, it is segregated into frozen, refrigerated, and shelf-stable meat substitutes. To gain a comprehensive understanding, the market scenario is analyzed across key regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Meat Substitute Market
By Type
The Tofu and TVP based meat substitute products dominates the Global meat substitute market and is expected to retain its dominance throughout the forecast period.
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Awareness toward environmental sustainability and animal welfare is anticipated to increase in the near future, owing to initiatives taken by governments authorities of various countries. In addition, consistent initiatives from the companies such as Vbites Foods Ltd. have contributed significantly toward uplifting animal consciousness amongst individuals. Moreover, marketing and promotional initiatives of companies such as Quorn Foods are anticipated to increase consciousness toward sustainability among individuals in the upcoming years.
Meat Substitute Market
By Source
The others segment is estimated to grow with highest CAGR during the forecast period
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SCompanies have consistently launched innovative vegan meat products with improved texture and taste to cater to the changing consumer preferences. Moreover, a wide variety of vegan food and snack products are available in the market, including patties, burgers, fillets, soups, pizza, and others. Furthermore, the industry is expected to witness the launch of a number of innovative meat substitute products in the coming years, which is expected to complement the lifestyles and taste preferences of the consumers.
The key players profiled in the meat substitute market report include Amy’s Kitchen, Beyond Meat, Cauldron Foods, Garden Protein International, Inc., Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, MGP Ingredients, and Sonic Biochem Extractions Limited. Companies such as Amy’s Kitchen offer a wide range of innovative vegan meals and snacks. Beyond Meat, a leading player in the meat substitute market, offers innovative substitutes of pork, chicken, turkey, and beef.
Meat Substitute Market
By Category
Shelf stable meat substitute products is expected to grow with lucrative CAGR of 8.9% during the forecast period
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TVP is a dehydrated high-protein, high-fiber meat replacement made from soy flour. It is available in the form of chunks, strips, flakes, and granules with a texture similar to cooked beef or minced meat. TVP-based products have gained increasing popularity in the developed regions such as North America and Europe, owing to their meat-like texture and health benefits. Beef, chicken, fish, and other flavors of textured vegetable proteins are highly popular among consumers.
Meat Substitute Market
By Region
Asia Pacific region would exhibit the highest CAGR of 9.3% during the forecast period, 2019-2026
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Soy-based faux meat products garner the highest share of the overall meat substitute market size. Various soy-based meat analogues have gained prominence among consumers, primarily owing to their meat-like texture.
The market in Asia-Pacific offers lucrative growth opportunities for the operating players. Increase in adoption of western lifestyle and rise in disposable income of consumers majorly drive the meat substitute market growth. This region further offers potential growth opportunities to market players for launching innovative meat substitute products.
Key Benefits for Meat Substitute Market :
- The report provides detailed qualitative and quantitative analysis of the current meat substitute market trends and future estimations that help evaluate the prevailing meat substitute market share and opportunities.
- The key drivers, restraints, meat substitute market analysis, opportunities and their detailed impact analysis are elucidated in the study.
- The meat substitute analysis is conducted by following key product positioning and monitoring the top competitors within the meat substitute industry.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth in meat substitute market segment.
- Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players along with the meat substitute market forecast.
Meat Substitute Market Segments:
By Product
- Tofu-based
- Tempeh-based
- TVP-based
- Seitan-based
- Quorn-based
- Others
By Source
- Soy-based
- Wheat-based
- Mycoprotein
- Others
By Category
- Frozen
- Refrigerated
- Shelf Stable
By Region
- North America
- Europe
- Asia-pacific
- LAMEA
Key Market Players
- Amy’s Kitchens Limited
- Beyond Meat
- Cauldron Foods
- Garden Protein International, Inc.
- Meatless B.V.
- Quorn Foods,
- Vbites Food, Ltd.
- Morningstar Farms
- MGP Ingredients
- Sonic Biochem Extraction
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Snapshot
2.2. Key finding of the study
2.3. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pocket
3.2.2. Top impacting factors
3.2.3. Top winning strategies
3.3. Porter's five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Thereat of new entrants
3.3.4. Threat of substitute
3.3.5. Intensity of competitive rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increase in obese population
3.4.1.2. Marketing and positioning strategies
3.4.1.3. New product development
3.4.1.4. Rapid growth in the food service industry
3.4.1.5. Environmental sustainability and animal welfare
3.4.2. Restraint
3.4.2.1. Wide availability of substitutes
3.4.3. Opportunities
3.4.3.1. Untapped developing markets
3.4.3.2. Increase in health awareness and vegetarianism
CHAPTER 4: MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE
4.1. Overview
4.1.1. Market size and forecast, by product type
4.2. Tofu-based
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.3. Tempeh-based
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.4. TVP-based
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.5. Seitan-based
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.6. Quorn-based
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast, by region
4.7. Other
4.7.1. Key market trends, growth factors, and opportunities
4.7.2. Market size and forecast, by region
CHAPTER 5: MEAT SUBSTITUTE MARKET, BY SOURCE
5.1. OVERVIEW
5.1.1. Market size and forecast, by source
5.2. Soy-based
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.3. Wheat-based
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.4. Mycoprotein
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.5. Others
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region
CHAPTER 6: MEAT SUBSTITUTE MARKET, BY CATEGORY
6.1. OVERVIEW
6.1.1. Market size and forecast, by category
6.2. Frozen
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.3. Refrigerated
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.4. Shelf Stable
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
CHAPTER 7: MEAT SUBSTITUTE MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by product type
7.2.3. Market size and forecast, by source
7.2.4. Market size and forecast, by category
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by product type
7.3.3. Market size and forecast, by source
7.3.4. Market size and forecast, by category
7.4. Asia-pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by product type
7.4.3. Market size and forecast, by source
7.4.4. Market size and forecast, by category
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by product type
7.5.3. Market size and forecast, by source
7.5.4. Market size and forecast, by category
CHAPTER 8: COMPANY PROFILES
8.1. AMY'S KITCHEN, INC.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Product portfolio
8.1.4. Business performance
8.1.5. Key strategic moves and developments
8.2. ARCHER DANIELS MIDLAND COMPANY
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. BEYOND MEAT
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Product portfolio
8.3.4. Business performance
8.3.5. Key strategic moves and developments
8.4. Garden Protein International, Inc.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Product portfolio
8.4.4. Key strategic moves and developments
8.5. KELLOGG NA CO.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.5.6. Key strategic moves and developments
8.6. Marlow Foods Ltd.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Product portfolio
8.6.4. Business performance
8.6.5. Key strategic moves and developments
8.7. MEATLESS BV
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.8. MGP INGREDIENTS, INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. SONIC BIOCHEM EXTRACTIONS LTD.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Product portfolio
8.9.4. Business performance
8.10. VBITES FOODS LIMITED.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Key strategic moves and developments
LIST OF TABLES
TABLE 01. GLOBAL MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017–2026 ($MILLION)
TABLE 02. TOFU-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 03. TEMPEH-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 04. TVP-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 05. SEITAN-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 06. QUORN-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 07. OTHER MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 08. GLOBAL MEAT SUBSTITUTE MARKET, BY SOURCE, 2017–2026 ($MILLION)
TABLE 09. SOY-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 10. WHEAT-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 11. MYCOPROTEIN MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 12. OTHER MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 13. GLOBAL MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017–2026 ($MILLION)
TABLE 14. FROZEN MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 15. REFRIGERATED MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 16. SHELF STABLE MEAT SUBSTITUTE MARKET, BY REGION, 2017–2026 ($MILLION)
TABLE 17. GLOBAL MEAT SUBSTITUTE MARKET REVENUE, BY REGION, 2017–2026 ($MILLION)
TABLE 18. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017–2026 ($MILLION)
TABLE 19. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SOURCE, 2017–2026 ($MILLION)
TABLE 20. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017–2026 ($MILLION)
TABLE 21. EUROPE MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017–2026 ($MILLION)
TABLE 22. EUROPE MEAT SUBSTITUTE MARKET, BY SOURCE, 2017–2026 ($MILLION)
TABLE 23. EUROPE MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017–2026 ($MILLION)
TABLE 24. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017–2026 ($MILLION)
TABLE 25. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY SOURCE, 2017–2026 ($MILLION)
TABLE 26. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017–2026 ($MILLION)
TABLE 27. LAMEA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017–2026 ($MILLION)
TABLE 28. LAMEA MEAT SUBSTITUTE MARKET, BY SOURCE, 2017–2026 ($MILLION)
TABLE 29. LAMEA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017–2026 ($MILLION)
TABLE 30. AMY'S KITCHEN, INC.: COMPANY SNAPSHOT
TABLE 31. AMY'S KITCHEN, INC.: PRODUCT PORTFOLIO
TABLE 32. AMY'S KITCHEN, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 33. ARCHER DANIELS MIDLAND COMPANY: COMPANY SNAPSHOT
TABLE 34. ARCHER DANIELS MIDLAND COMPANY: OPERATING SEGMENTS
TABLE 35. ARCHER DANIELS MIDLAND COMPANY: PRODUCT PORTFOLIO
TABLE 36. ARCHER DANIELS MIDLAND COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 37. BEYOND MEAT: COMPANY SNAPSHOT
TABLE 38. BEYOND MEAT: PRODUCT PORTFOLIO
TABLE 39. BEYOND MEAT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 40. GARDEN PROTEIN INTERNATIONAL, INC.: COMPANY SNAPSHOT
TABLE 41. GARDEN PROTEIN INTERNATIONAL, INC.: PRODUCT PORTFOLIO
TABLE 42. GARDEN PROTEIN INTERNATIONAL, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 43. KELLOGG NA CO.: COMPANY SNAPSHOT
TABLE 44. KELLOGG NA CO.: OPERATING SEGMENTS
TABLE 45. KELLOGG NA CO.: PRODUCT PORTFOLIO
TABLE 46. KELLOGG NA CO.: PRODUCT PORTFOLIO KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 47. MARLOW FOODS LTD.: COMPANY SNAPSHOT
TABLE 48. MARLOW FOODS LTD.: PRODUCT PORTFOLIO
TABLE 49. MARLOW FOODS LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 50. MEATLESS BV: COMPANY SNAPSHOT
TABLE 51. MEATLESS BV: OPERATING SEGMENTS
TABLE 52. MEATLESS BV: PRODUCT PORTFOLIO
TABLE 53. MGP INGREDIENTS, INC.: COMPANY SNAPSHOT
TABLE 54. MGP INGREDIENTS, INC.: OPERATING SEGMENTS
TABLE 55. MGP INGREDIENTS, INC.: PRODUCT PORTFOLIO
TABLE 56. MGP INGREDIENTS, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 57. SONIC BIOCHEM EXTRACTIONS LTD: COMPANY SNAPSHOT
TABLE 58. SONIC BIOCHEM EXTRACTIONS LTD.: PRODUCT PORTFOLIO
TABLE 59. VBITES FOODS LIMITED.: COMPANY SNAPSHOT
TABLE 60. VBITES FOODS LIMITED.: OPERATING SEGMENTS
TABLE 61. VBITES FOODS LIMITED.: PRODUCT PORTFOLIO
TABLE 62. VBITES FOODS LIMITED.: KEY STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. MEAT SUBSTITUTE MARKET: KEY PLAYERS
FIGURE 03. TOP INVESTMENT POCKETS, 2017–2025
FIGURE 04. TOP IMPACTING FACTORS, 2017–2025
FIGURE 05. TOP WINNING STRATEGIES, BY YEAR, 2014–2018*
FIGURE 06. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2014–2018* (%)
FIGURE 07. TOP WINNING STRATEGIES, BY COMPANY, 2014–2018*
FIGURE 08. MODERATE BARGAINING POWER OF BUYERS
FIGURE 09. HIGH BARGAINING POWER OF BUYERS
FIGURE 10. HIGH THREAT OF NEW ENTRANTS
FIGURE 11. HIGH THREAT OF SUBSTITUTION
FIGURE 12. HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 13. MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017 (%)
FIGURE 14. MEAT SUBSTITUTE MARKET, BY SOURCE, 2017 (%)
FIGURE 15. MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017 (%)
FIGURE 16. GLOBAL MEAT SUBSTITUTE MARKET, BY REGION, 2017 (%)
FIGURE 17. ARCHER DANIELS MIDLAND COMPANY: REVENUE, 2016–2018 ($MILLION)
FIGURE 18. ARCHER DANIELS MIDLAND COMPANY: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 19. ARCHER DANIELS MIDLAND COMPANY: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 20. KELLOGG NA CO.: REVENUE, 2015–2017 ($MILLION)
FIGURE 21. KELLOGG NA CO.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 22. KELLOGG NA CO.: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 23. MGP INGREDIENTS, INC.: NET SALES, 2015–2017 ($MILLION)
FIGURE 24. MGP INGREDIENTS, INC.: REVENUE SHARE BY SEGMENT, 2017 (%)
The global meat substitute market exhibits significant growth since the past few years. Developed markets including North America and Europe have witnessed a decline in per capita consumption of meat over the recent years, owing to increase in preference toward mock meats (meat substitutes). Furthermore, rose in health awareness coupled with surge in consciousness toward environmental sustainability and animal welfare are the major factors that drive the growth of the global meat substitute industry. Moreover, rigorous marketing and positioning strategies adopted by the key players fuel the market growth. In addition, innovative product launches such as artificial duck, beef, chicken, turkey, and other meats that resemble real meat in terms of taste and texture have not only gained popularity among vegan consumers but have also attracted a number of non-vegetarians.
The meat substitute market comprises a wide variety of food and snack products prepared from tofu, tempeh, seitan, textured vegetable protein (TVP), Quorn, and other plant-based ingredients. The overall market is small in size, yet is highly competitive. Faux meat prepared from Quorn, pea protein, rice protein, and other such plant-based and organic sources are anticipated to witness higher adoption in North America and Europe in the coming years, owing to increase in demand for gluten-free and soy-free food products.
Leading companies in the meat substitute market such as Quorn foods, Amy’s Kitchen Inc., Beyond Meat, and others have witnessed a double digit growth in the past few years. Moreover, other players operating in the fast food industry such as KFC, McDonald’s, Burger King, and others are anticipated to strengthen their meat substitute product line to meet the increasing in consumer demands.
Q1. What would be forecast period in the market report?
A. The forecast period of Meat Substitute market report is from 2019 to 2026.
Q2. What is the market value of Meat Substitute market in 2019?
A. The Meat Substitute market was valued at $4.8 billion in 2019
Q3. Does the Meat Substitute company is profiled in the report?
A. The report covers detailed profiling of key companies operating in the market includi Amy’s Kitchen, Beyond Meat, Cauldron Foods, Garden Protein International, Inc., Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, among others
Q4. Which are the top companies hold the market share in Meat Substitute market?
A. Top companies holding significant market share are Amy’s Kitchen, Meatless B.V., Quorn Foods, Vbites Food, Ltd., Morningstar Farms, etc
Q5. How the segments growing in Meat Substitute market report?
A. Seitan based segments of the report is expected to growth at a healthy CAGR during the forecast period
Q6. Which is the most influencing segment growing in the Meat Substitute market report?
A. Wheat based is the most influencing segments of Meat Substitute market
Q7. Which are the key markets trending in the Meat Substitute market?
A. "Soy and wheat-based meat substitutes are widely used in the food service industry for the preparation of lowfat, healthy food, and snacks."
Q8. Which market holds the maximum market share of the Meat Substitute market?
A. TVP based segment holds maximum revenue share in Meat Substitute market in 2019.
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