Global Meat Alternatives Market Report 2019: Market Value is Expected to Reach USD 6,438 Million in 2026
A meat analogue, also called a meat substitute, approximates certain aesthetic qualities (primarily texture, flavor and appearance) or chemical characteristics of specific types of meat.
Market Snapshot
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Meat Alternatives market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.
The global Meat Alternatives market is expected to increase from USD 3,921 million in 2019 to USD 6,438 million by 2026, registering a CAGR of 7.34% from 2019 to 2026.
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Competitive Landscape
Major manufacturers profiled in the analysis report include Nisshin Oillio, Kellogg's, Pinnacle Foods, Fuji Oil, Taishi Food, Showa Sangyo, Kyoto Vegelabo, MAISEN, Morinaga Milk, White Wave, Tofurky, Beyond Meat, Boca Foods, Phoney Baloneys, LightLife Foods, Amy's Kitchen, and others.
The Meat Alternatives market is estimated to experience a positive growth due to the health benefits provided by meat substitute products, such as weight loss and general wellbeing. Moreover, the growing preference for a vegan diet is also projected to stimulate this market’s growth.
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Regional Overview
In 2018, the global Meat Alternatives market was mainly concentrated in the three regions of Asia-Pacific, North America, and Europe. North America is the largest market at a share of 29.67%. Europe is currently leading Asia-Pacific with a share of 28.74% and 25.95%. The growth of the Meat Alternatives market in the Europe region can be attributed to the increasing number of new modified meat-free product launches by manufacturers such as low-fat and fortified snack with meat substitutes. Furthermore, thanks to the increased in the middle-class population and the increased in disposable income, the Asia-Pacific region is expected to make progress at a high speed in the following years.
Type Overview
By product type, the Meat Alternatives market is segmented into Soybean, Wheat, and Other.
Application Overview
Based on application, this market is divided into Hypermarket & Supermarket, Food & Drink Specialists, and Convenience Stores.
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Target Audience:
l Meat Alternatives manufacturers
l Raw material suppliers of Meat Alternatives
l Distributors and resellers of Meat Alternatives
l Meat Alternatives industry associations
l Product managers, Meat Alternatives industry administrator, C-level executives of the industries
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