Meat analogue, also known as mock meat, is food product that approximates the aesthetic qualities and chemical characteristics of certain types of meat. The hunt for nutritious and convenient food items by health-conscious vegetarian consumers to best suit their busy life led to the evolution of meat analogue. They are made from vegetable-based, fruit-based, grain-based, and dairy-based sources including soy bean, mushrooms, cauliflower, peas, legumes, jackfruit, and others.
Scarcity of animal protein and protein-energy malnutrition are the most serious prevalent problems faced by underdeveloped countries. In addition, widespread animal diseases, such as mad cow disease, have created a pressure on vegetable food product manufacturers to produce meat alternatives. Such conditions lead to the increase in the demand for meat analogues.
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Furthermore, the rise in number of consumers adopting veganism across the globe has led to an increased preference for plant-based meat alternatives. Many manufacturers, such as Impossible Foods and Beyond Meat, have introduced vegetarian burgers that taste almost like meat burgers. This has created a positive impact on the meat analogue market. However, meat substitutes have potential risks associated with eating too many soy-based products. The probable ill effects caused due to consuming these meat substitutes are expected to hamper the growth of the market.
Since plant-based food products are becoming increasingly popular, especially in the developing countries such as Asia-Pacific, developing meat analogue products which match the consumer’s local tastes and preferences can be viewed as an opportunity by the manufacturers to expand their market base.
The meat analogue market is segmented on the basis of source, category, and region. On the basis of source, it is classified into vegetable-based, fruit-based, grain-based, dairy-based, and others. On the basis of category, it is categorized into frozen, refrigerated, and shelf stable. On the basis of region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major Players: Royal FrieslandCampina N.V., Beyond Meat, Marlow Foods Ltd., Meatless BV, VBites Foods Limited, Kellogg NA Co, DuPont de Nemours, Inc., Amy’s Kitchen, Inc., Tofurky, and Impossible Foods Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging trends and dynamics of the meat analogue market.
- In-depth analysis is done by constructing market estimations for the key market segments to identify the prevailing market opportunities.
- This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
- Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
- Comprehensive analysis of the region is provided to determine the prevailing opportunities in these geographies.
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