Global Meat Substitutes Market (2018–2023)

Updated On: 03 April, 2019 | No of Pages: 90-100 | Format: PDF | SKU: 201896
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The rise of meat alternatives is an indication that meat substitutes are no longer perceived as a niche product for the vegans and vegetarians, instead there is a global push towards finding plant-based alternatives which are tasty, nutritious, as well as healthy. Hence, the global meat substitutes market is projected to expand at a CAGR of 7.4% during the forecast period (2018-2023) and is expected to be worth USD 6.1 billion by 2023.

Increasing concerns related to obesity and diabetes owing to the excess consumption of meat products, and rising awareness of the environmental impact caused by rearing of animals (for meat consumption) are the two major factors driving the consumers to shift towards meat substitutes. The emerging trend in the meat substitutes market includes diversification of raw materials used in the making of alternative meat products, primarily shifting from soy and wheat, to recognizable, clean-label ingredients, and high-quality protein, that appeal to non-vegans and non-vegetarians.

Global Meat Substitutes Market (2018-2023)

Segmentation based on product type:

From an array of products that can replace meats, the most popular are tofu and tofu-based products, tempeh, seitan, textured vegetable protein (TVP) and quorn. Therefore, tofu and tofu-based food contributed to a market share of 43% in 2018, which is the highest, due to its ease of availability and high nutritional value. Another product variant, Seitan which is touted as the vegan ‘comfort food’ is projected to show a CAGR of 8.3% during 2018-2023, as it is steadily gaining popularity and is being used in junk food like burger, pizza, fake fried chicken, and kebabs. Due to its versatile nature, it is abundantly available in restaurants in Europe and the US.

Segmentation based on source type:

Soy, wheat and mycoprotein are the most widely used sources from which meat substitute products are derived. The soy segment contributed the largest market share of 48% in 2018, owing to the awareness of its high protein content and various health benefits associated with it. Wheat is expected to expand at a CAGR of 7.7% during 2018-2023. Wheat gluten is a key ingredient for the preparation of seitan and is also highly rich in minerals, vitamin B, and zinc, which is essential for a meat substitute product. The mycoprotein segment is expected to expand at a CAGR of 7.8% during 2018-2023, as mycoprotein is associated with numerous health benefits such as stable blood pressure, improved digestive system, and lower cholesterol.

Regional insights:

The meat substitutes market in Europe is expected to expand at the highest CAGR of 9.3% during the 2018-2023 period, as this market is driven by the rise in health-conscious consumers due to the growing incidences of diseases and conditions such as diabetes, high-blood pressure, and constipation coupled with the trend of flexitarian lifestyle that has been fuelling the market for meat substitutes. The North American meat substitutes market is expected to expand at a CAGR of 5.9% during the forecast period, which is driven by the presence of innovative start-ups like Meatless B.V, Beyond Meat, and Next Level Burgers that offer a wide range of alternatives to meat, and satiate the taste buds of not only vegan consumers, but to non-vegetarians as well. In 2018, the Asia-Pacific region which contributed USD 0.8 Bn in the total meat substitutes market, is driven by industrial growth and improvements in the food industry, providing new opportunities for the meat substitutes market in this region. In Europe, the contribution of new product launches from the meat substitutes category increased from 9% in 2013 to 11% in 2018 (Jan-Sep). This trend was also seen across the globe with new product launches increasing from 6% to 14%.

Companies covered:

  • Amy’s Kitchen
  • VBites
  • Monde Nissin Corporation
  • Beyond Meat
  • Impossible Foods
  • Sunfed
  • Next Level Burgers

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Chapter 1: Executive summary 

1.1. Market scope and segmentation

1.2. Key questions answered in the study

1.3. Executive summary

Chapter 2: Introduction

2.1. Market definitions

2.2. Revenue based on product type – (2018) (USD Bn)

2.3. Revenue based on source type – (2018) (USD Bn)

2.4. Global market trends

2.5. Global market drivers

2.6. Global market challenges

2.7. Value chain of meat substitute products

2.8. Distribution channel analysis

Chapter 3: Global Meat Substitutes Market Overview

3.1. Market overview

3.1.a. Global historical market revenue – (2015-2017) (USD Bn)

3.1.b. Global forecasted market revenue – (2018-2023) (USD Bn)

3.1.c. Geography-wise market revenue – (2018, 2023) (USD Bn)

3.2. Global trends

Chapter 4: Global Meat Substitutes Market – Based on Product Type

4.1. Tofu and tofu-based

4.1.a. Revenue – (2015-2023) (USD Bn)

4.1.b. Drivers

4.1.c. Challenges

4.2. Textured vegetable Protein (TVP)

4.2.a. Revenue – (2015-2023) (USD Bn)

4.2.b. Drivers

4.2.c. Challenges

4.3. Seitan

4.3.a. Revenue – (2015-2023) (USD Bn)

4.3.b. Drivers

4.3.c. Challenges

4.4. Tempeh

4.4.a. Revenue – (2015-2023) (USD Bn)

4.4.b. Drivers

4.4.c. Challenges

4.5. Quorn

4.5.a. Revenue – (2015-2023) (USD Bn)

4.5.b. Drivers

4.5.c. Challenges

Chapter 5: Global Meat Substitutes Market – Based on Source Type

5.1. Soy

5.1.a. Revenue – (2015-2023) (USD Bn)

5.1.b. Drivers

5.1.c. Challenges

5.2. Wheat

5.2.a. Revenue – (2015-2023) (USD Bn)

5.2.b. Drivers

5.2.c. Challenges

5.3. Mycoprotein

5.3.a. Revenue – (2015-2023) (USD Bn)

5.3.b. Drivers

5.3.c. Challenges

Chapter 6: Global Meat Substitutes Market - Based on Regions

6.1. North America

6.1.a. Overview

6.1.b. Revenue – (2015-2023) (USD Bn)

6.1.c. Key Highlights

6.2. Europe

6.2.a. Overview

6.2.b. Revenue – (2015-2023) (USD Bn)

6.2.c. Key Highlights

6.3. Asia-Pacific

6.3.a. Overview

6.3.b. Revenue – (2015-2023) (USD Bn)

6.3.c. Key Highlights

6.4. Rest of the world

6.4.a. Overview

6.4.b. Revenue – (2015-2023) (USD Bn)

6.4.c. Key Highlights

Chapter 7: Competitive Landscape

7.1. Amy’s Kitchen

7.1.a. Company snapshot

7.1.b. Products

7.1.c. Initiatives

7.1.d. Growth strategy

Note: Similar information areas will be covered for the remaining competitors

7.2. VBites

7.3. Monde Nissin Corporation

Chapter 8: Meat Substitutes Start-ups

8.1. Beyond Meat

8.2. Impossible Foods

8.3. Sunfed

8.4. Next Level Burgers

Chapter 9: Conclusion

Chapter 10: Appendix

10.1. List of tables

10.2. Research methodology

10.3. About Research on Global Markets

10.4. Disclaimer

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