Meat Alternative Market Research Report 2024
Meat Alternative Market Global Industry Analysis And Forecast (2024- 2032) By Product (Tofu, Tempeh, Textured Vegetable Protein, Seitan, Quorn and Other Product), Source (Soy Protein, Wheat Protein, Pea Protein, and Other Sources), Types ( Concentrates, Isolates and Textured), Form (Solid, Liquid), Category (Frozen, Refrigerated and Shelf Table) And Region
Meat Alternative Market Synopsis
The Meat Alternative Market was worth USD 6.47 Billion in 2023. As such, the forecast is that the market is expected to reach USD 18.6 Billion by 2032 with a CAGR of 12.45% from 2024 to 2032.
Meat alternatives are food products designed to replicate the taste, texture, and nutritional profile of traditional meat, without using animal sources. These alternatives are created from various ingredients, including plant proteins, fungi, and cultured cells, to provide consumers with sustainable, ethical, and health-conscious options. The meat alternative market is experiencing rapid growth, driven by increasing consumer awareness of health, sustainability, and ethical concerns. As people shift towards plant-based and lab-grown options, the market is expanding to include a wide variety of products that replicate the taste and texture of traditional meat. This growth is supported by technological advancements in food production and a rising number of innovative startups entering the industry.
The market has seen a surge in investments from both established food companies and new entrants. The demand for meat alternatives is not limited to traditional plant-based products like tofu and tempeh but now includes advanced options such as cultured meat and hybrid products. This diversification is attracting significant attention from investors and driving competitive dynamics within the market. The meat alternative market is showing strong growth across North America, Europe, and Asia-Pacific. North America, in particular, is a key region due to the high level of consumer awareness and demand for plant-based options. Europe follows closely, with increasing regulations favoring sustainable food production and consumer preferences for healthier diets. Asia-Pacific is also emerging as a significant market due to changing dietary habits and urbanization.
The market segmentation is diverse, covering various product types, including plant-based proteins, mycoproteins, and lab-grown meat. Each segment caters to different consumer preferences and dietary needs, which contributes to the overall market expansion. Additionally, advancements in food technology are enabling the development of more realistic and appealing meat alternatives, further fueling market growth. The competitive landscape of the meat alternative market features numerous players ranging from startups to established food industry giants. Companies are focusing on innovation, strategic partnerships, and marketing to differentiate their products. The ongoing research and development efforts aim to enhance the taste, texture, and nutritional profile of meat alternatives to meet evolving consumer demands.
Top Key Players Involved Are:
"Beyond Meat (USA), Impossible Foods (USA), Oatly (Sweden), Quorn (UK), Tofurky (USA), Eat Just (USA), Lightlife Foods (USA), MorningStar Farms (USA), Amy's Kitchen (USA), Field Roast (USA), Garden Gourmet (Switzerland), Daiya Foods (Canada), MGP Ingredients (USA), Good Catch Foods (USA), Blue Horizon (Switzerland), The Meatless Farm (UK), Planted Foods (Switzerland), VBites (UK), Meatless Farm (UK), Nature’s Fynd (USA), Hero Bread (USA), Nuoc Mam (Vietnam), Rich Products (USA) and Other Active Players."
Meat Alternative Market Trend Analysis
Increasing consumer preference for plant-based proteins is driving demand for healthier and more sustainable dietary options:
- Over the past decade, the global market for meat-based proteins has experienced significant growth, with a considerable portion of populations in Europe and North America depending on meat products to fulfill their daily protein requirements. Meat proteins are valued for their complete amino acid profile, which is crucial for various bodily functions. However, they are also high in cholesterol, a factor that has been associated with several serious health issues, including cardiovascular diseases.
- This health concern has been a primary catalyst for the rising demand for plant-based protein alternatives, especially in industrialized nations such as the United States, Germany, France, and the United Kingdom. As awareness about the health risks linked to excessive meat consumption has grown, consumers are increasingly turning towards plant-based proteins. These alternatives offer a healthier option, being lower in cholesterol and saturated fats while still providing essential amino acids.
- In response to this shift, the plant-based protein market has expanded significantly, driven by consumer preferences for healthier and more sustainable food options. Innovations in plant-based protein products have further fueled this growth, catering to the evolving dietary preferences of people who seek to reduce their meat intake without compromising on protein quality. This trend underscores a broader movement towards more health-conscious and environmentally friendly dietary choices in developed economies.
Technological advancements in extrusion and processing will enhance the versatility and applications of plant-based proteins.
- Extrusion and processing are pivotal in the development of meat substitutes, particularly through advancements in protein extraction and fat replication technologies. Traditional methods of protein extraction, such as dry extraction, yield protein flour with 20% to 40% protein content and protein concentrates containing 46% to 60% protein. However, recent innovations in the field have significantly enhanced the texture and authenticity of plant-based meats.
- One notable advancement is the use of extrudable fat technology, developed by Coasun. This technology replicates animal fat by running fat through an extruder, allowing it to be combined with plant-based proteins. This process physically links fat and protein, resulting in plant-based meat products with more realistic fat textures, including marbling, which closely mimics the mouthfeel and appearance of animal-derived meats.
- The Prolamin technology, licensed from the University of Guelph, has been employed to improve plant-based cheese. This technology utilizes plant-based ingredients to enhance the texture of plant-based cheeses, enabling them to melt, bubble, and stretch similarly to traditional dairy products. This advancement not only contributes to the sensory appeal of plant-based cheeses but also broadens the applications of plant-based alternatives in the culinary market.
Meat Alternative Market Segment Analysis:
The Global Meat Alternative Market is Segmented into Products, Sources, Types, Forms, Categories and Regions.
By Product, the Tofu segment is expected to dominate the market during the forecast period.
- Tofu, also known as soybean curd or bean curd, is a versatile food made from curdled soy milk, which is derived from cooked soybeans. As a staple in Asian cuisines for centuries, tofu is renowned for its high nutritional value. It is rich in iron, potassium, protein, calcium, and vitamin B12, making it an essential component of a healthy vegan diet.
- Tofu's nutrient profile is particularly beneficial for those following plant-based diets. Iron is crucial for oxygen transport in the blood, while potassium supports heart and muscle function. Protein, an essential macronutrient, is vital for muscle repair and growth, and tofu provides a high-quality plant-based protein source. Calcium is important for maintaining strong bones and teeth, and vitamin B12, which is typically found in animal products, is essential for nerve function and red blood cell formation.
- The growing focus on health, environmental sustainability, and vegetarian or vegan lifestyles has increased consumer interest in plant-based foods like tofu. As more people seek to reduce their consumption of animal products, tofu offers a nutritious and environmentally friendly alternative. Its ability to adapt to various culinary styles and its substantial nutritional benefits make it a popular choice among those looking to maintain a balanced and sustainable diet.
By Type, the Isolates segment held the largest share in 2023.
- The rising awareness of health and environmental benefits associated with protein-rich foods and meat substitutes is driving significant growth in the protein isolates market. Protein isolates, offered in pure form, are highly favored by food and beverage manufacturers due to their high protein content. These isolates are derived from various sources, including soy, pea, rice, and canola. Each type provides a concentrated source of protein, making them ideal for incorporation into various food products.
- Among these, Soy Protein Isolate (SPI) stands out as the most widely consumed protein isolate. Extracted from soybean legumes, SPI is renowned for its impressive protein content, ranging between 93% and 97%. This high protein concentration makes SPI a preferred choice for manufacturers looking to enhance the protein content of their products while maintaining a desirable texture and flavor profile.
- The increased consumer focus on health, coupled with the environmental impact of traditional meat production, has further fueled the demand for meat substitutes and protein isolates. These products offer a sustainable alternative to animal-based proteins, aligning with growing trends towards plant-based diets and environmentally conscious eating. As a result, the market for protein isolates is expanding, driven by the dual benefits of nutritional enrichment and reduced environmental footprint.
Meat Alternative Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast Period
- The Asia Pacific region is experiencing significant growth in the plant-based meat market, largely driven by increasing consumer awareness of healthy dietary habits. Several factors contribute to this trend, including health benefits, animal welfare considerations, environmental safety, cost affordability, and the expanding range of plant-based meat products available.
- Awareness campaigns led by global animal welfare organizations, such as People for the Ethical Treatment of Animals (PETA), have played a crucial role in promoting meat-free diets. This has led many consumers to explore plant-based alternatives. In Asia, the adoption of non-meat-based meals is already well-established, with tofu being a staple in many Asian cuisines and bean-based congees being widely consumed in countries like China.
- The region’s strong tradition of plant-based eating provides a solid foundation for the growth of plant-based meat products. Additionally, the diverse culinary landscape in Asia Pacific supports the introduction of various plant-based options, catering to a broad spectrum of tastes and preferences.
- The combination of heightened health consciousness, ethical considerations, and environmental concerns is fueling rapid growth in the plant-based meat market across Asia Pacific. As consumer awareness continues to rise and the variety of plant-based products expands, the region is poised to lead the global market in this sector. This burgeoning trend highlights the Asia Pacific region as the fastest-growing potential market for plant-based meat.
Meat Alternative Market Top Key Players:
- Beyond Meat (USA),
- Impossible Foods (USA),
- Oatly (Sweden),
- Quorn (UK),
- Tofurky (USA),
- Eat Just (USA),
- Impossible Foods (USA),
- Lightlife Foods (USA),
- MorningStar Farms (USA),
- Amy's Kitchen (USA),
- Field Roast (USA),
- Garden Gourmet (Switzerland),
- Daiya Foods (Canada),
- MGP Ingredients (USA),
- Good Catch Foods (USA),
- Blue Horizon (Switzerland),
- The Meatless Farm (UK),
- Planted Foods (Switzerland),
- VBites (UK),
- Eat Just (USA),
- Meatless Farm (UK),
- Nature’s Fynd (USA),
- Hero Bread (USA),
- Nuoc Mam (Vietnam),
- Rich Products (USA), and Other Active Players.
Key industrial Development:
- In May 2024, Tofurky, a prominent producer of tasty plant-based meats in the U.S., unveiled an enticing new product line for food service clients at the National Restaurant Association Show, booth #687: Next Generation Plant-Based Deli Slices.
- In March 2024, The Kraft Heinz Not Company LLC introduced NotHotDogs and NotSausages, marking the first plant-based offerings under the Oscar Mayer brand and the inaugural plant-based meat innovation from the collaboration between The Kraft Heinz Company and TheNotCompany, Inc. Their mission is to craft irresistible plant-based foods for everyone.
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Meat Alternative Market |
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Base Year: |
2023 |
Forecast Period: |
2024- 2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 6.47 Bn. |
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Forecast Period 2024-32 CAGR: |
12.45% |
Market Size in 2032: |
USD 18.6 Bn. |
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Segments Covered: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Meat Alternative Market by Product
4.1 Meat Alternative Market Snapshot and Growth Engine
4.2 Meat Alternative Market Overview
4.3 Tofu
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in
Frequently Asked Questions
What would be the forecast period in the Global Meat Alternative Market research report?
The forecast period in the Global Meat Alternative Market research report is 2024- 2032.
Who are the key players in the Global Meat Alternative Market?
Beyond Meat (USA), Impossible Foods (USA), Oatly (Sweden), Quorn (UK), Tofurky (USA), Eat Just (USA), Lightlife Foods (USA), MorningStar Farms (USA), Amy's Kitchen (USA), Field Roast (USA), Garden Gourmet (Switzerland), Daiya Foods (Canada), MGP Ingredients (USA), Good Catch Foods (USA), Blue Horizon (Switzerland), The Meatless Farm (UK), Planted Foods (Switzerland), VBites (UK), Meatless Farm (UK), Nature’s Fynd (USA), Hero Bread (USA), Nuoc Mam (Vietnam), Rich Products (USA) and Other Active Players.
What are the segments of the Global Meat Alternative Market?
The Meat Alternative Market is Segmented into Products, Sources, Types, Forms, Category, and Region. Products the market is categorized into (Tofu, Tempeh, Textured Vegetable Protein, Seitan, Quorn, and Other Products), the market is categorized into (Soy Protein, Wheat Protein, Pea Protein, and Other Sources), Types the market is categorized into (Concentrates, Isolates, and Textured) Form the market is categorized into (Solid, Liquid), Category the market is categorized into (Frozen, Refrigerated and Shelf Table). By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Global Meat Alternative Market?
Meat alternatives are food products designed to replicate the taste, texture, and nutritional profile of traditional meat, without using animal sources. These alternatives are created from various ingredients, including plant proteins, fungi, and cultured cells, to provide consumers with sustainable, ethical, and health-conscious options.
How big is the Global Meat Alternative Market?
The Global Meat Alternative Market was worth USD 6.47 Billion in 2023. As such, the forecast is that the market is expected to reach USD 18.6 Billion by 2032 with a CAGR of 12.45% from 2024 to 2032.
