Market research Meat Substitutes Market Trends and Competitive Lan | Page 3

Report
Description
Report Description
Owing to the health benefits associated with meat substitutes, consumer inclination towards
these products is increasing across the globe. The consumption of meat substitutes is
beneficial for health due the high protein content it. Increasing health awareness among
consumers coupled with changing the preferences towards vegetarian diet are expected to
fuel the growth of the meat substitutes market during the forecasted period. Soy is the key
raw material used for meat substitutes and is expected to contribute maximum revenue in
the coming four to five years. Various companies are investing heavily in R&D activities to
launch superior products and also expanding their product portfolio in order to cater to the
evolving demand for meat substitutes especially from emerging countries. Companies
operating in meat substitutes market are primarily involved in partnerships and
collaborations in order to strengthen their product portfolio.
Meat Substitutes Market Segmentation

Apart from regions, the global meat substitutes market segmentation is done on the basis of
product type and raw material. Based on the product type segmentation includes tempeh,
textured vegetable protein, tofu, tofu based products, quorn, other soy products, seitan, and
others. Of which, textured vegetable protein is expected to be the dominating segment in
terms of revenue share over forecasted period, followed by other meat substitutes. This is
attributed to increasing demand for soy-based meat substitutes among the consumers.
Among all the meat substitutes segment seitan is expected to witness highest growth over
the forecasted period. On the basis of raw material used meat substitutes market is
segmented into, wheat based, mycoprotein, soy based and others. Among all the types of
raw material used for meat substitute’s soy is the leading segment, followed by wheat based