Market Overview

The Global Meat Substitutes Market was valued at USD 6,609.7 million in 2023 and is expected to reach USD 11,876.2 million by 2031 while growing at a CAGR of 7.6% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global meat substitutes market growth. Meat substitutes, also called alternatives or analogs, replicate the taste, texture, and nutrition of conventional meat without animal-derived ingredients. Usually plant-based, they cater to vegetarians, vegans, flexitarians, and those seeking sustainable and ethical food choices.

Increasing awareness of health risks related to excessive meat consumption, like cardiovascular diseases and obesity, and the focus on environmental sustainability are driving the growth of the meat substitutes market. However, obstacles such as the high cost of meat substitutes and limited product awareness and understanding may impede market expansion.

Furthermore, the global meat substitutes industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Source Analysis

The Global Meat Substitutes Market is segmented among Soy, and Mycoprotein, based on Source. In 2023, Soy accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Category Analysis

The Global Meat Substitutes Market is segmented among Frozen/Refrigerated, and Unfrozen, based on Category. In 2023, Frozen/Refrigerated accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Meat Substitutes Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are General Mills, Inc., The Hain Celestial Group, Inc., Nasoya Foods USA, LLC, Conagra Brands, Inc., Kellogg Company, Field Roast, The Tofurky Company, Inc., Superior Natural.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Meat Substitutes Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Meat Substitutes Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Meat Substitutes Market Segmentation, By Source 

• Global Meat Substitutes Market Share Analysis, By Source

• Global Meat Substitutes Market Growth Analysis, By Source 

• Global Meat Substitutes Market Trends, By Source 

o Soy

o Mycoprotein

6. Global Meat Substitutes Market Segmentation, By Category

• Global Meat Substitutes Market Share Analysis, By Category

• Global Meat Substitutes Market Growth Analysis, By Category

• Global Meat Substitutes Market Trends, By Category

o Frozen/Refrigerated

o Unfrozen

7. Global Meat Substitutes Market Segmentation, By Region

• Global Meat Substitutes Market Share Analysis, By Region

• Global Meat Substitutes Market Growth Analysis, By Region

• Global Meat Substitutes Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• General Mills, Inc.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• The Hain Celestial Group, Inc.

• Nasoya Foods USA, LLC

• Conagra Brands, Inc

• Kellogg Company

• Field Roast

• The Tofurky Company, Inc.

• Superior Natural

 *Similar analysis will be provided for each company listed above.