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Meat Substitute Market by Product Type (Tofu-based, Tempeh-based, TVP-based, Seitan-based, Quorn-based, and Others), Source (Soy-based, Wheat-based, Mycoprotein, and Other Sources), Category (Frozen, Refrigerated, and Shelf Stable) - Global Opportunity Analysis and Industry Forecast, 2018-2025

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FO_16816
Pages: 210
Jun 2018 | 8850 Views
 
Author's : Akhila Prasannan
Tables: 56
Charts: 33
 

Meat Substitute Market Overview:

The global meat substitute market size is expected to be valued at $7.5 billion by 2025, registering a CAGR of 7.7% during the forecast period (2018‐2025). The entire meat substitute market consists of a wide variety of products prepared from ingredients derived from plant based and other organic sources. Meat substitute products are prepared from tofu, tempeh, textured vegetable protein, Quorn, Seitan, and other ingredients such as pea, lentils, and rice.

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. Increase in incidence of such health disorders boosts health and fitness consciousness among consumers. This in turn, is expected to drive the market growth. In addition, rapid growth in food service industries and attractive marketing and promotional strategies of companies for vegetarianism have affected the market growth positively. 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. Furthermore, rapid increase in health issues in the developed countries have increased the number of consumers preferring vegetarian food. This preference towards vegetarian food is projected to provide lucrative opportunities to market players for launching innovative meat substitute products in upcoming years.

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The market is segmented based on product type, source, category, and region. The segments based on product type include meat substitutes prepared from tofu, tempeh, textured vegetable protein (TVP), quorn, seitan, and others. Based on source, the market is segmented into soy, wheat, mycoprotein, and others (pea protein, rice protein, and other sources). Market segmentations based on category include frozen, refrigerated, and shelf-stable meat substitutes. To gain a comprehensive understanding, the market scenario is analyzed across key geographic regions namely North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the report are 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 highly innovative substitutes of pork, chicken, turkey, and beef.

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TVP is a dehydrated high-protein, high-fiber meat replacement made from soy flour. It is available in a wide variety of shapes including chunks, strips, flakes, and granules with a texture similar to cooked beef or minced meat. TVP-based products have gained popularity in 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 amongst consumers.

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Soy-based faux meat products comprise the largest share of the overall market. Various kinds of soy-based meat analogues have gained prominence among consumers, primarily owing to their meat-like texture. Europe generated the highest revenue in the soy-based meat substitute market.

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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 offers potential growth opportunities to market players for launching innovative meat substitute products.

Key Benefits

  • The report provides an extensive analysis of the current and emerging market trends and opportunities in the global meat substitute industry.
  • The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists in evaluating the prevailing market opportunities.
  • Comprehensive analysis of factors that drive and restrict the growth of the meat substitute market is provided.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Meat Substitute Market Key Segments:

By Product Type

  • Tofu-based
  • Tempeh-based
  • TVP-based
  • Seitan-based
  • Quorn-based
  • Others

By Source  

  • Soy-based
  • Wheat-based
  • Mycoprotein
  • Other Sources

By Category   

  • Frozen
  • Refrigerated
  • Shelf Stable

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Turkey
    • Rest of LAMEA
 

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 buyer high
3.3.3. Thereat of new entrants high
3.3.4. Threat of substitute low
3.3.5. Intensity of competitive rivalry

3.4. TOP PLAYER POSITIONING, 2017
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Increase in obese population
3.5.1.2. Marketing and positioning strategies
3.5.1.3. New product development
3.5.1.4. Rapid growth in the food service industry
3.5.1.5. Environmental sustainability and animal welfare

3.5.2. Restraints

3.5.2.1. Wide availability of substitutes

3.5.3. Opportunities

3.5.3.1. Untapped developing markets
3.5.3.2. 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

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Key strategic moves and developments

8.2. Beyond Meat

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. Cauldron Foods

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Key strategic moves and developments

8.4. Quorn Foods

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Key strategic moves and developments

8.5. Garden Protein International, Inc.

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Key strategic moves and developments

8.6. Meatless B.V.

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves and developments

8.7. Vbites Food, Ltd.

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.7.6. Key strategic moves and developments

8.8. Morningstar Farms.

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. MGP Ingredients

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments

8.10. Sonic Biochem Extractions 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. Business performance

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, 2015-2018*
FIGURE 06. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2015-2018* (%)
FIGURE 07. TOP WINNING STRATEGIES, BY COMPANY, 2015-2018*
FIGURE 08. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 09. HIGH BARGAINING POWER OF BUYERS
FIGURE 10. MODERATE THREAT OF NEW ENTRANTS
FIGURE 11. MODERATE THREAT OF SUBSTITUTION
FIGURE 12. HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 13. TOP PLAYER POSITIONING, 2017
FIGURE 14. MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017 (%)
FIGURE 15. MEAT SUBSTITUTE MARKET, BY SOURCE, 2017 (%)
FIGURE 16. MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017 (%)
FIGURE 17. GLOBAL MEAT SUBSTITUTE MARKET, BY REGION, 2017 (%)
FIGURE 18. BEYOND MEAT: NET SALES, 2015-2017 ($MILLION)
FIGURE 19. BEYOND MEAT: REVENUE SHARE BY PRODUCT, 2017 (%)
FIGURE 20. BEYOND MEAT: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 21. MEATLESS B.V.: NET SALES, 2015-2017 ($MILLION)
FIGURE 22. MEATLESS B.V.: REVENUE SHARE BY PRODUCT, 2017 (%)
FIGURE 23. MEATLESS B.V.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 24. VBITES FOOD, LTD.: NET SALES, 2015-2017 ($MILLION)
FIGURE 25. VBITES FOOD, LTD.: REVENUE SHARE BY PRODUCT, 2017 (%)
FIGURE 26. MORNINGSTAR FARMS: NET SALES, 2015-2017 ($MILLION)
FIGURE 27. MORNINGSTAR FARMS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 28. MORNINGSTAR FARMS: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 29. MGP INGREDIENTS: NET SALES, 2015-2017 ($MILLION)
FIGURE 30. MGP INGREDIENTS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 31. SONIC BIOCHEM EXTRACTIONS LIMITED: NET SALES, 2015-2017 ($MILLION)
FIGURE 32. SONIC BIOCHEM EXTRACTIONS LIMITED: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 33. SONIC BIOCHEM EXTRACTIONS LIMITED: REVENUE SHARE BY REGION, 2017 (%)

LIST OF TABLES

TABLE 01. GLOBAL MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017-2025 ($MILLION)
TABLE 02. TOFU-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 03. TEMPEH-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 04. TVP-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 05. SEITAN-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 06. QUORN-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 07. OTHER MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 08. GLOBAL MEAT SUBSTITUTE MARKET, BY SOURCE, 2017-2025 ($MILLION)
TABLE 09. SOY-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 10. WHEAT-BASED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 11. MYCOPROTEIN MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 12. OTHER MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 13. GLOBAL MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017-2025 ($MILLION)
TABLE 14. FROZEN MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 15. REFRIGERATED MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 16. SHELF STABLE MEAT SUBSTITUTE MARKET, BY REGION, 2017-2025 ($MILLION)
TABLE 17. GLOBAL MEAT SUBSTITUTE MARKET REVENUE, BY REGION, 2017-2025 ($MILLION)
TABLE 18. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017-2025 ($MILLION)
TABLE 19. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SOURCE, 2017-2025 ($MILLION)
TABLE 20. NORTH AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017-2025 ($MILLION)
TABLE 21. EUROPE MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017-2025 ($MILLION)
TABLE 22. EUROPE MEAT SUBSTITUTE MARKET, BY SOURCE, 2017-2025 ($MILLION)
TABLE 23. EUROPE MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017-2025 ($MILLION)
TABLE 24. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017-2025 ($MILLION)
TABLE 25. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY SOURCE, 2017-2025 ($MILLION)
TABLE 26. ASIA-PACIFIC MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017-2025 ($MILLION)
TABLE 27. LAMEA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, 2017-2025 ($MILLION)
TABLE 28. LAMEA MEAT SUBSTITUTE MARKET, BY SOURCE, 2017-2025 ($MILLION)
TABLE 29. LAMEA MEAT SUBSTITUTE MARKET, BY CATEGORY, 2017-2025 ($MILLION)
TABLE 30. AMY’S KITCHEN: COMPANY SNAPSHOT
TABLE 31. AMY’S KITCHEN: PRODUCT PORTFOLIO
TABLE 32. BEYOND MEAT: COMPANY SNAPSHOT
TABLE 33. BEYOND MEAT: OPERATING SEGMENTS
TABLE 34. BEYOND MEAT: PRODUCT PORTFOLIO
TABLE 35. CAULDRON FOODS: COMPANY SNAPSHOT
TABLE 36. CAULDRON FOODS : OPERATING SEGMENTS
TABLE 37. CAULDRON FOODS.: PRODUCT PORTFOLIO
TABLE 38. QUORN FOODS.: COMPANY SNAPSHOT
TABLE 39. QUORN FOODS: OPERATING SEGMENTS
TABLE 40. QUORN FOODS.: PRODUCT PORTFOLIO
TABLE 41. GARDEN PROTEIN INTERNATIONAL, INC.: COMPANY SNAPSHOT
TABLE 42. GARDEN PROTEIN INTERNATIONAL, INC.: OPERATING SEGMENTS
TABLE 43. GARDEN PROTEIN INTERNATIONAL, INC.: PRODUCT PORTFOLIO
TABLE 44. MEATLESS B.V.: COMPANY SNAPSHOT
TABLE 45. MEATLESS B.V.: PRODUCT PORTFOLIO
TABLE 46. VBITES FOOD, LTD.: COMPANY SNAPSHOT
TABLE 47. VBITES FOOD, LTD.: PRODUCT PORTFOLIO
TABLE 48. MORNINGSTAR FARMS: COMPANY SNAPSHOT
TABLE 49. MORNINGSTAR FARMS.: PRODUCT SEGMENTS
TABLE 50. MORNINGSTAR FARMS: PRODUCT PORTFOLIO
TABLE 51. MGP INGREDIENTS : COMPANY SNAPSHOT
TABLE 52. MGP INGREDIENTS: OPERATING SEGMENTS
TABLE 53. MGP INGREDIENTS: PRODUCT PORTFOLIO
TABLE 54. SONIC BIOCHEM EXTRACTIONS LIMITED: COMPANY SNAPSHOT
TABLE 55. SONIC BIOCHEM EXTRACTIONS LIMITED: OPERATING SEGMENTS
TABLE 56. SONIC BIOCHEM EXTRACTIONS LIMITED: PRODUCT PORTFOLIO

 

The global meat substitute market exhibits a promising growth since past few years. Developed markets including North America and Europe have witnessed a decline in per capita consumption of meats since past few years, contrarily preference of consumers toward mock meats (meat substitutes) has increased consistently. Increase in health awareness coupled with rise in consciousness toward environmental sustainability and animal welfare are the major factors that drive the growth of the meat substitute industry. Moreover, rigorous marketing and positioning strategies adopted by the players operating in the market fuel the growth. Innovative product launches such as artificial duck, beef, chicken, turkey, and other meats that resemble real meats in terms of taste and texture have not only gained popularity amongst vegan consumers, but have also attracted more number of non-vegetarians in the recent years.

The meat substitute market comprises 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 meats prepared from quorn, pea protein, rice protein and other such plant based and organic sources would witness greater adoption in North America and Europe in the coming years, owing to the 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 increase in consumer demand.

 

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