The meat substitutes market was valued at USD 4.33 Billion in 2017; this is projected to grow at a CAGR of 6.8%, to reach USD 6.43 Billion by 2023.

Northbrook, IL -- (SBWire) -- 12/19/2018 --The global meat substitutes market is estimated to be USD 4.63 billion in 2018 and is projected to grow at a CAGR of 6.8% from 2018, to reach USD 6.43 billion by 2023. Factors such as health benefits, ecological benefits, convenience, and taste are some of the major factors fueling the demand for meat substitutes.

On the basis of category, the frozen meat substitutes accounted for the largest share, followed by the refrigerated meat substitute, in 2017. Temperature is one of the key differences between frozen and refrigerated meat substitutes. The shelf-stable segment is projected to record the highest CAGR during the forecast period.

Don't miss out on business opportunities in Meat Substitutes Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=979

The meat substitutes market, on the basis of type, is segmented into tofu & tofu ingredients, tempeh, TVP, seitan, quorn, and others soy products that include miso, yaso, and natt?, and other meat substitutes that include risofu, valess, lupine, rice protein, and pea protein. Tofu and tofu ingredients accounted for the largest market share in 2017. Tempeh is fastest growing segment and is a relatively low-cost product among other meat substitutes that contain high protein content; hence, the demand for tempeh is increasing.

On the basis of source, soy-based meat substitutes accounted for a larger market share in 2017, followed by mycoprotein-based. Meat substitutes are mostly made from soy or wheat proteins and are available in fresh, dried, or frozen forms. High production and nutritional values equivalent to that of meat are the major drivers of soy products, used as meat substitutes.

Browse and in-depth TOC on "Meat Substitutes Market"
77 – Tables
35 – Figures
133 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/meat-substitutes-market-979.html

Europe accounted for the largest share of the meat substitutes market due to growth in the organic meatless food industry in the region. The European market is witnessing increasing concerns related to the consumption of meat products, as consumers in countries such as France, Germany, the UK, Spain, and Italy are opting for meat substitutes. The market in Asia Pacific is projected to record the highest CAGR of 8.5% during the study period.

The major restraining factor for the meat substitutes market are some ill-effects caused by the consumption of soy. Intake of some anti-nutritional component such as Kunitz STI trypsin, present in soy can cause health issues, such as soy allergy.

Request Bundle Reports @ https://www.marketsandmarkets.com/RequestBundleReport.asp?id=979

Companies such as ADM (US), DuPont (US), Garden Protein International (Canada), and Quorn Foods (UK) have acquired a leading market position through the provision of a broad product portfolio, along with a focus on diverse end-user segments. Acquisitions of new and renowned companies and expansions to enhance their global footprint were the key strategies adopted in the global meat substitutes market. They are also focused on innovations and are geographically diversified.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com