The report "Meat Substitutes Market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein, Seitan, Quorn), Source (Soy-based, Wheat-based, Mycoprotein), Category (Frozen, Refrigerated), and Region - Global Forecast to 2022" projects the market to grow at a CAGR of +6% by 2022
The market is driven by factors such as increasing health awareness, increasing instances of meat adulteration, and the rising number of vegetarians and flexitarians worldwide. Nevertheless, the increase in demand for these products from emerging markets such as the Asia-Pacific and Latin American regions drives the meat substitutes market. The high prices of meat substitutes (which is almost equal to the animal meat prices) is one of the major restraining factors for the market .Less awareness of tofu and tofu ingredients across the developing countries of Asia-Pacific including South and South East Asian countries and GMO meat substitute products are the major challenges for the global meat substitutes market.
Browse 78 market data tables and 51 figures spread through 165 pages and in-depth TOC on “Meat Substitutes Market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein, Seitan, Quorn), Source (Soy-based, Wheat-based, Mycoprotein), Category (Frozen, Refrigerated), and Region - Global Forecast to 2022 http://www.rnrmarketresearch.com/meat-substitutes-market-by-source-soy-wheat-mycoprotein-type-tofu-tempeh-tvp-seitan-quorn-others-category-frozen-refrigerated-shelf-stable-geography-global-trends-forecasts-up-to-market-report.html
Soy-based meat substitute the most widely used meat substitute worldwide. Soy protein is derived from soybeans. The use of this soy protein as a functional ingredient is increasing in the food industry. Soy is used as a source of protein in meat substitutes such as tofu, tempeh, miso, textured vegetable protein (TVP), and other tofu ingredients.
Flavors and spices are typically added to increase the sensory quality of the products. Soy meat substitutes are similar to meat, poultry, or fish products in terms of taste, texture, color, and form. Soy burgers, soy turkey, soy bacon, soy chicken, and soy hot dogs are a few popular food products.
The frozen meat substitutes segment is projected to growing at the highest rate during the forecast period, that is, between 2016 and 2022. Frozen meat substitutes help to maintain the nutritional value of food products and retain the flavor and texture. Also, the frozen meat substitutes market is gaining popularity due to changes in purchasing patterns, coupled with fast life styles and the shift from traditional food to convenience food, from small grocery shops to supermarkets, especially in emerging countries such as BRICS and ASEAN. Consequently, significant growth in the convenience food industry, including ready-to-eat foods and ready-to-cook foods, has fueled the growth of the frozen meat substitutes market, globally.
Growth in the middle-class population in the region, with increase in disposable incomes and demand for vegetable and nutrient foods are driving the growth of the meat substitutes market. The per capita consumption of meat substitutes in the Asia-Pacific region is driven by growing economies such as China, India, Australia & New Zealand, Japan, and South Korea. A large number of multinational companies have expanded their footprint in these countries, which has also driven the market for meat substitutes.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Archer Daniels Midland Company (ADM) (U.S.), E. I. du Pont de Nemours and Company (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), Morningstar Farms LLC. (U.S.), and Quorn Foods, Inc.
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