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Meat Substitutes Market Research Report - 2023

Meat Substitutes Market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Seitan, and Quorn), Source (Soy, Wheat, and Mycoprotein), Category (Frozen, Refrigerated, and Shelf-Stable), and Region - Global Forecast to 2023

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Meat Substitutes Market Research Report - 2023

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  1. Meat SubStituteS Market - Global ForecaSt to 2023 FOOD & BEVERAGE MEAT SUBSTITUTES MARKET GLOBAL FORECAST TO 2023 BY TYPE (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Seitan, Quorn), SOURCE (Soy, Wheat, Mycoprotein), CATEGORY (Frozen, Refrigerated, Shelf-stable), and REGION FB 2515 INTRODUCTION 1.1 OBJECTIVES OF THE STUDY ƒ To define, segment, and project the global meat substitutes market, on the basis of type, source, category, and region ƒ To provide detailed information about the key factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges) ƒ To analyze the market opportunities for stakeholders and provide a competitive landscape of market trends ƒ To project the size of the market and its submarkets, in terms of value, with respect to 4 regions (along with their respective key countries) – North America, Europe, Asia Pacific, and the Rest of the World (RoW) ƒ To profile the key players and comprehensively analyze their core competencies ƒ To analyze the competitive developments, such as expansions and investments, new product launches, acquisitions, and mergers in the meat substitutes market ƒ To provide a detailed competitive landscape of this market, along with an analysis of the business and corporate strategies adopted by key players 1.2 MARKET DEFINITION Meat substitutes are non-meat food products that appear similar to conventional meat, in texture, flavor, appearance, and/or chemical characteristics. Meat substitutes are made from plant sources and edible fungi, and are used to replace conventional meat, such as chicken, pork, beef, and fish. Types of meat substitutes include tofu and tofu ingredients, tempeh, textured vegetable protein (TVP), seitan, and Quorn (mycoprotein). 1 sales@marketsandmarkets.com www.marketsandmarkets.com

  2. Meat SubStituteS Market - Global ForecaSt to 2023 INTRODUCTION 1.3 STUDY SCOPE The research report categorizes the meat substitutes market into the following segments: Figure 1 MeAT SuBSTiTuTeS MArKeT: MArKeT SegMeNTATiON MEAT SUBSTITUTES MARKET BY TYPE BY SOURCE BY CATEGORY BY REGION • Tofu & tofu ingredients • Tempeh • Textured vegetable protein (TVP) • Other soy products* • Seitan • Quorn • Other meat substitutes** • Soy • Wheat • Mycoprotein • Others*** • Frozen • Refrigerated • Shelf-stable • North America • Europe • Asia Pacific • RoW**** *Other soy products includes miso, yaso, and nattõ. **Other meat substitutes includes Risofu, Valess, lupine, rice protein, and pea protein. ***Others includes rice, pea, pulses, and milk. ****RoW includes South Africa, Brazil, and Argentina. Source: Secondary Sources, Company Annual Reports, Industry-related Journals and Books, Expert Interviews, and MarketsandMarkets Analysis Figure 2 MeAT SuBSTiTuTeS MArKeT: regiONAL SegMeNTATiON BY REGION EUROPE NORTH AMERICA ASIA PACIFIC RoW  US  Canada  Mexico  Spain  Germany  Italy  UK  France  Netherlands  Rest of Europe*  China  India  Japan  Australia & New Zealand  Rest of Asia-Pacific**  South Africa  Brazil  Argentina  Others in RoW*** *Rest of Europe includes Belgium, Austria, Sweden, Denmark, and Finland. **Rest of Asia Pacific includes Malaysia, Vietnam, Thailand, Indonesia, and Singapore. ***Others includes Chile, the UAE, and Saudi Arabia. Source: Secondary Sources, Company Annual Reports, Industry-related Journals and Books, Expert Interviews, and MarketsandMarkets Analysis 2 sales@marketsandmarkets.com www.marketsandmarkets.com

  3. Meat SubStituteS Market - Global ForecaSt to 2023 INTRODUCTION 1.4 YEARS CONSIDERED 2023 2018 2017 2016 BASE YEAR BEGINNING OF PROJECTION PERIOD END OF PROJECTION PERIOD HISTORICAL YEAR Note: The forecast period considered for the study is 2018-2023. 1.5 CURRENCY CONSIDERED The currency considered in this study to measure the market size uniformly, at each level, is the US dollar (USD), and the unit maintained is “USD million.” The base year considered for the currency conversion is 2017, and its value is assumed to remain constant over the next 5 years. ƒ For companies that reported their revenues in USD, the data was taken from their annual reports. ƒ For companies that reported their revenues in other currencies, the average annual currency conversion rate from the Internal Revenue Service (IRS) was used for the particular year to convert the value to USD. TABLe 1 uSD eXCHANge rATe CONVerSiON CurreNCY FACTOr uSeD FOr CONVerSiON 2014 2015 2016 2017 Japan (YEN) 101.512 125.91 113.14 111.93 European Union (Euro) 0.94 0.94 0.78 0.78 Source: IRS 3 sales@marketsandmarkets.com www.marketsandmarkets.com

  4. Meat SubStituteS Market - Global ForecaSt to 2023 INTRODUCTION 1.6 STAKEHOLDERS ƒ Raw material suppliers ƒ Meat substitute manufacturers and suppliers ƒ Technology providers to meat substitute manufacturers ƒ Regulatory bodies, including government agencies and NGOs ƒ Food safety agencies, such as the Food and Drug Administration (FDA) and the European Food Information Council (EUFIC) ƒ Processed meat substitute manufacturers/suppliers ƒ Commercial research & development (R&D) institutions and financial institutions ƒ Importers and exporters of meat substitutes ƒ Meat substitute traders, distributors, and suppliers ƒ Government organizations, research organizations, and consulting firms ƒ Trade associations and industry bodies 4 sales@marketsandmarkets.com www.marketsandmarkets.com

  5. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.1 RESEARCH DATA Secondary sources (including directories and databases), such as Hoovers, Forbes, and Bloomberg Businessweek, were extensively used to collect information for a technical, market-oriented, and commercial study of the meat substitutes market. The primary sources mainly included industry experts from core and related industries and preferred suppliers, dealers, manufacturers, food & beverage (F&B) ingredient providers, technology developers, alliances, standards and certification organizations from companies, and organizations related to all segments of this industry’s value chain. In- depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts, C-level executives of the major market players, and industry consultants— to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology applied in drafting this report on the meat substitutes market. Figure 3 MeAT SuBSTiTuTeS MArKeT iNFOrMATiON AND DATA : reSeArCH DeSigN CURRENT DATA FOR THE MEAT SUBSTITUTES MARKET MARKET SHARE VALUE CHAIN ANALYSIS COMPETITIVE LANDSCAPE REGIONAL USAGE PATTERN COMPANY DEVELOPMENTS MARKET RESTRAINTS:  Ill effects of consuming meat substitutes MARKET OPPORTUNITIES:  Exploring technological advancements to develop new product lines  Growth potential in Asia Pacific market MARKET DRIVERS:  Rising health concerns as a result of increasing obesity levels brought on by the consumption of meat products  Health benefits of meat substitutes  Increased preference of vegetarian and vegan foods INFLUENCING FACTORS (Market Trends and Dynamics) MARKET CHALLENGES:  Consumer perception of taste  Genetically modified soybeans REGIONAL ANALYSIS MARKET SIZE & FORECAST BASED ON THE FOLLOWING:  Type  Source  Category  Region DATA OF THE MARKET ARRIVE AT THE MARKET SIZE, SHARE, AND CAGR FOR MEAT SUBSTITUTES MARKET FORECAST (2018-2023) REGULATORY FRAMEWORK 5 sales@marketsandmarkets.com www.marketsandmarkets.com

  6. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.1.1 SECONDARY DATA In the secondary research process, various sources were referred to, so as to collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications, articles by recognized authors, gold and silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases. Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, segmentation, and regional markets, according to industry trends to the bottom-most level. It was also used to obtain information about the key developments from a market-oriented perspective. 2.1.2 PRIMARY DATA The meat substitutes market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the food industry and population growth. The supply side is characterized by technological advancements and diverse application industries. Various primary sources from both, supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side included key opinion leaders, executives, vice presidents, and CEOs of the food & beverages industry. The primary sources from the supply side included research institutions involved in R&D to introduce new technologies, key opinion leaders, distributors, and meat substitute manufacturers. 2.1.2.1 BREAKDOWN OF PRIMARY INTERVIEWS Figure 4 BreAKDOWN OF PriMArY iNTerVieWS: BY COMPANY TYPe, DeSigNATiON, AND regiON BY COMPANY TYPE BY DESIGNATION BY REGION 5% 25% 25% 35% 30% 25% 45% 30% 40% 20% North America Asia Pacific Europe RoW C-Level Executives D-Level Others* Tier 1 Tier 2 Tier 3 *Others includes sales managers, marketing managers, and product managers. The 3 tiers of the companies are defined on the basis of their total revenues, as of 2016; Tier 1: Revenue >= USD 1 Billion, Tier 2: USD 500 million < Revenue < USD 1 Billion, and Tier 3: Revenue =< USD 500 Million 6 sales@marketsandmarkets.com www.marketsandmarkets.com

  7. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.1.2.2 KEY INDUSTRY INSIGHT “Showing people the graphic footage has been what gets most people interested in reducing their consumption of animal products. People need to know it's going to be very convenient and palatable; if they don't think it's going to be enjoyable, they won't do it.” “We are excited about the potential of meat alternatives, including soy, because of a long-gestating technology that is now finally hitting the market high-moisture extrusion.” –Principal, Leading soybean products manufacturing company – Food Expert and Researcher, US “The challenge is that there is still a stigma; there are people that haven’t tried meat alternatives for a few years, and then they try our products and say, ‘Wow! I didn’t know they tasted this good.’ We just have to get people to try them.” “Actually as a percentage of total cost, some substitutes are increasing in price faster, which partly explains why meat analogs have not taken off.” – Director, Meat substitutes company – Chief Scientific Officer, leading meat substitutes company 7 sales@marketsandmarkets.com www.marketsandmarkets.com

  8. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.2 MARKET SIZE ESTIMATION Top-down and bottom-up approaches were used to estimate and validate the total size of the meat substitutes market. The following research methodology was used to estimate the market size: ƒ The key players in the industry and markets were identified through extensive secondary research. ƒ The meat substitutes industry’s value chain and market size, in terms of value, were determined through primary and secondary research. ƒ All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. ƒ All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. ƒ The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for key opinion leaders, such as CEOs, directors, and marketing executives. Given below is an illustration of the overall market size estimation process employed for this study. 2.2.1 TOP-DOWN APPROACH Figure 5 MArKeT SiZe eSTiMATiON MeTHODOLOgY: TOP-DOWN APPrOACH THE GLOBAL MARKET SIZE IS VALIDATED THROUGH PRIMARIES (Demand- & supply-side experts) Global meat substitutes market size (USD Million) Percent split of the segments of the meat substitutes market PRIMARY SOURCES: Demand- & supply-side experts Regional split SECONDARY SOURCES: Annual reports, presentations, press releases, journals, paid databases, and MarketsandMarkets repository Regional and country-wise market for each segment Calculations based on the financial data of the main companies identified for meat substitutes in each region were used to determine the overall market size. The overall market size was used in the top-down procedure to estimate the sizes of other individual markets (mentioned in the market segmentation—by type, source, category, and region) via percentage splits arrived at through secondary and primary research. The export and import data for meat substitutes were determined using databases, such as FAOSTAT, Eurostat, World Integrated Trade Solution (WITS), Organisation for Economic Co- operation and Development (OECD), and Comtrade. 8 sales@marketsandmarkets.com www.marketsandmarkets.com

  9. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.2.2 BOTTOM-UP APPROACH Figure 6 MArKeT SiZe eSTiMATiON MeTHODOLOgY: BOTTOM-uP APPrOACH TOTAL MARKET SIZE (USD MILLION) = North America + Europe + .. Global market size Summation of meat substitutes market of all regions PRIMARY SOURCES: Demand- & supply-side experts meat substitutes market share for each region SECONDARY SOURCES: Summation of the market size of countries in each region Annual reports, presentations, press releases, journals, paid databases, and MarketsandMarkets repository Total market size of meat substitutes at the country level The data obtained was further validated by conducting primary interviews with industry experts, key suppliers, and dealers in the market. In the bottom-up approach, the meat substitutes market size for each country was estimated, and the summation of market sizes of the countries in each region was derived. The market share of each region was added to derive the global market size. With the data triangulation procedure and validation of data through primaries, the sizes of the overall parent market and the individual submarkets, were determined and confirmed. The market share was estimated for each company to verify the share, in terms of value, used earlier in the bottom-up procedure. 9 sales@marketsandmarkets.com www.marketsandmarkets.com

  10. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.3 DATA TRIANGULATION After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size was validated using top-down and bottom-up approaches, and verified through primary interviews. Hence, 3 approaches were used - top-down, bottom-up, and expert interviews. Only when the values arrived at from the 3 points match, the data was assumed to be correct. Figure 7 MArKeT BreAKDOWN AND DATA TriANguLATiON PRIMARY SOURCES SECONDARY SOURCES INTERVIEWS WITH: • Meat substitute manufacturers • Research laboratories • Suppliers and distributors DEMAND SIDE Major players with their profiles and strategic developments in the past five years • Regulatory bodies • MnM KNOW* INTERVIEWS WITH: • CEOs • Presidents & vice presidents • Marketing directors • Sales managers • Product managers • Food & beverage and agricultural associations & health organizations DATA PRIMARY SOURCE TRIANGULATION SUPPLY SIDE Annual reports, presentations, websites & press releases of top players, news articles, journals, and paid databases SECONDARY SOURCE INFORMATION SOURCED Opportunities/ Challenges Market size and share (2017) Key Players Competitive Landscape Geographical Analysis Influencing Factors Market Forecast MnM KNOW* stands for MarketsandMarkets’ 'Knowledge Asset Management' framework. In this context, it stands for existing market research knowledge repository of over 5,000 granular markets, our flagship competitive intelligence and market research platform “Knowledge Store", subject matter experts, and independent consultants. MnM KNOW acts as an independent source that helpsus validateinformation gathered from primary and secondarysources. 10 sales@marketsandmarkets.com www.marketsandmarkets.com

  11. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.4 RESEARCH ASSUMPTIONS The following assumptions were taken into consideration to complete the overall market engineering process of the meat substitutes market. ASSUMPTION PARAMETER A positive economic climate has been assumed to continue in all the regions until 2023. The growing global economy has been estimated to attract key companies in the market and increase consumer spending on food & beverages. • ECONOMIC STABILITY • The average USD exchange rate of all foreign countries has been taken on a yearly basis. MarketsandMarkets assumes that the fluctuation of the USD value will not be significant enough to affect the projections to a notable extent. • EXCHANGE RATE • Inflation has not been considered for pricing. The values have been rounded-off at subsequent levels. Region-wise, different prices have been considered; they were assumed to be constant for countries within the same region. • PRICING TREND • A stable political environment has been assumed to prevail in the key regions. • POLITICAL STABILITY The qualitative analysis done from the quantitative data arrived at is solely based on the understanding of the market and its trends by the team of experts involved in making this report. • QUALITATIVE ANALYSIS 11 sales@marketsandmarkets.com www.marketsandmarkets.com

  12. Meat SubStituteS Market - Global ForecaSt to 2023 RESEARCH METHODOLOGY 2.5 RESEARCH LIMITATIONS LIMITATION PARAMETER • The quantitative information for some market segments is kept confidential by industry players. • Hence, qualitative insights gathered during the course of the study have been used to arrive at the market size of the subsegments. PRIMARIES, BY KEY PLAYER • There are a limited number of experts in some regions. • Hence, the regional market size is derived on the basis of weightage assigned to these markets based on the qualitative insights from global industry experts. PRIMARIES, BY REGION • Due to the significantly small market size of the countries considered under the Rest of the World (RoW), the market size of RoW has been estimated on the basis of regions which include South Africa, Brazil, Argentina, and other countries in RoW. SCOPE, BY REGION • The ‘Quorn’ name is used as a meat substitute and a product ingredient as an alternative name for Quorn is not available. SEGMENT NAME 12 sales@marketsandmarkets.com www.marketsandmarkets.com

  13. Meat SubStituteS Market - Global ForecaSt to 2023 TABLE OF CONTENTS 1 INTRODUCTION ....................................................................................................................................14 1.1 OBJECTIVES OF THE STUDY ..........................................................................................................................................................14 1.2 MARKET DEFINITION ......................................................................................................................................................................14 1.3 STUDY SCOPE ................................................................................................................................................................................15 1.4 YEARS CONSIDERED ......................................................................................................................................................................16 1.5 CURRENCY CONSIDERED ..............................................................................................................................................................16 1.6 STAKEHOLDERS ..............................................................................................................................................................................17 2 RESEARCH METHODOLOGY.................................................................................................................18 2.1 RESEARCH DATA .............................................................................................................................................................................18 2.1.1 SECONDARY DATA .......................................................................................................................................................19 2.1.2 PRIMARY DATA .............................................................................................................................................................19 2.1.2.1 BREAKDOWN OF PRIMARY INTERVIEWS ................................................................................................19 2.1.2.2 KEY INDUSTRY INSIGHT ..........................................................................................................................20 2.2 MARKET SIZE ESTIMATION ............................................................................................................................................................20 2.2.1 TOP-DOWN APPROACH ...............................................................................................................................................21 2.2.2 BOTTOM-UP APPROACH .............................................................................................................................................22 2.3 DATA TRIANGULATION ....................................................................................................................................................................23 2.4 RESEARCH ASSUMPTIONS ............................................................................................................................................................24 2.5 RESEARCH LIMITATIONS ................................................................................................................................................................25 3 EXECUTIVE SUMMARY .........................................................................................................................26 4 PREMIUM INSIGHTS ............................................................................................................................31 4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE MEAT SUBSTITUTES MARKET ............................................................................31 4.2 MEAT SUBSTITUTES MARKET, BY TYPE ........................................................................................................................................32 4.3 MEAT SUBSTITUTES MARKET, BY SOURCE ...................................................................................................................................33 4.4 ASIA PACIFIC MEAT SUBSTITUTES MARKET, BY APPLICATION & COUNTRY ..............................................................................34 4.5 MEAT SUBSTITUTES MARKET SHARE, BY CATEGORY ..................................................................................................................34 4.6 DEVELOPED VS. EMERGING MARKETS FOR MEAT SUBSTITUTES, BY COUNTRY .......................................................................35 13 sales@marketsandmarkets.com www.marketsandmarkets.com

  14. Meat SubStituteS Market - Global ForecaSt to 2023 TABLE OF CONTENTS 5 MARKET OVERVIEW .............................................................................................................................36 5.1 INTRODUCTION ..............................................................................................................................................................................36 5.2 MARKET DYNAMICS .......................................................................................................................................................................36 5.2.1 DRIVERS .......................................................................................................................................................................37 5.2.1.1 RISING HEALTH CONCERNS, DUE TO INCREASING OBESITY LEVELS BROUGHT ON BY THE CONSUMPTION OF MEAT PRODUCTS ................................................................37 5.2.1.2 HEALTH BENEFITS OF MEAT SUBSTITUTES ............................................................................................37 5.2.1.3 INCREASED PREFERENCE FOR VEGETARIAN AND VEGAN FOODS.........................................................38 5.2.2 RESTRAINTS .................................................................................................................................................................38 5.2.2.1 ILL EFFECTS OF CONSUMING MEAT SUBSTITUTES ...............................................................................38 5.2.3 OPPORTUNITIES ...........................................................................................................................................................39 5.2.3.1 EXPLORING TECHNOLOGICAL ADVANCEMENTS TO DEVELOP NEW PRODUCT LINES ........................39 5.2.3.2 GROWTH POTENTIAL IN THE ASIA PACIFIC MARKET .............................................................................39 5.2.4 CHALLENGES ...............................................................................................................................................................40 5.2.4.1 PERCEPTION OF TASTE ............................................................................................................................40 5.2.4.2 GENETICALLY MODIFIED (GM) SOYBEANS .............................................................................................40 5.3 SUPPLY CHAIN ANALYSIS ..............................................................................................................................................................41 5.4 REGULATORY ENVIRONMENT ........................................................................................................................................................41 6 MEAT SUBSTITUTES MARKET, BY TYPE ..............................................................................................43 6.1 INTRODUCTION ..............................................................................................................................................................................44 6.2 TOFU & TOFU INGREDIENTS ..........................................................................................................................................................45 6.3 TEMPEH ..........................................................................................................................................................................................46 6.4 TEXTURED VEGETABLE PROTEIN (TVP) .........................................................................................................................................47 6.5 OTHER SOY PRODUCTS .................................................................................................................................................................48 6.6 SEITAN ............................................................................................................................................................................................49 6.7 QUORN ............................................................................................................................................................................................50 6.8 OTHER TYPES OF MEAT SUBSTITUTES .........................................................................................................................................51 14 sales@marketsandmarkets.com www.marketsandmarkets.com

  15. Meat SubStituteS Market - Global ForecaSt to 2023 TABLE OF CONTENTS 7 MEAT SUBSTITUTES MARKET, BY SOURCE .........................................................................................53 7.1 INTRODUCTION ..............................................................................................................................................................................54 7.2 SOY .................................................................................................................................................................................................54 7.3 WHEAT ............................................................................................................................................................................................55 7.4 MYCOPROTEIN ...............................................................................................................................................................................56 7.5 OTHER SOURCES OF MEAT SUBSTITUTES ....................................................................................................................................56 8 MEAT SUBSTITUTES MARKET, BY CATEGORY .....................................................................................58 8.1 INTRODUCTION ..............................................................................................................................................................................59 8.2 FROZEN ...........................................................................................................................................................................................59 8.3 REFRIGERATED ...............................................................................................................................................................................60 8.4 SHELF-STABLE ...............................................................................................................................................................................61 9 MEAT SUBSTITUTES MARKET, BY REGION ..........................................................................................62 9.1 INTRODUCTION ..............................................................................................................................................................................63 9.2 NORTH AMERICA ............................................................................................................................................................................64 9.2.1 US .................................................................................................................................................................................66 9.2.2 CANADA ........................................................................................................................................................................67 9.2.3 MEXICO ........................................................................................................................................................................68 9.3 EUROPE ...........................................................................................................................................................................................69 9.3.1 GERMANY .....................................................................................................................................................................73 9.3.2 UK .................................................................................................................................................................................74 9.3.3 SPAIN ............................................................................................................................................................................75 9.3.4 FRANCE ........................................................................................................................................................................76 9.3.5 ITALY .............................................................................................................................................................................77 9.3.6 NETHERLANDS .............................................................................................................................................................78 9.3.7 REST OF EUROPE .........................................................................................................................................................79 9.4 ASIA PACIFIC ..................................................................................................................................................................................80 9.4.1 CHINA ...........................................................................................................................................................................84 9.4.2 INDIA .............................................................................................................................................................................85 9.4.3 JAPAN ...........................................................................................................................................................................86 9.4.4 AUSTRALIA & NEW ZEALAND ......................................................................................................................................87 9.4.5 REST OF ASIA PACIFIC .................................................................................................................................................88 15 sales@marketsandmarkets.com www.marketsandmarkets.com

  16. Meat SubStituteS Market - Global ForecaSt to 2023 TABLE OF CONTENTS 9.5 ROW ................................................................................................................................................................................................89 9.5.1 BRAZIL ..........................................................................................................................................................................91 9.5.2 ARGENTINA ...................................................................................................................................................................92 9.5.3 SOUTH AFRICA .............................................................................................................................................................93 9.5.4 OTHERS ........................................................................................................................................................................94 10 COMPETITIVE LANDSCAPE ..................................................................................................................95 10.1 OVERVIEW .......................................................................................................................................................................................95 10.2 RANKING ANALYSIS........................................................................................................................................................................96 10.3 KEY MARKET STRATEGIES .............................................................................................................................................................96 10.3.1 NEW PRODUCT LAUNCHES .........................................................................................................................................97 10.3.2 EXPANSIONS & INVESTMENTS....................................................................................................................................98 10.3.3 ACQUISITIONS ..............................................................................................................................................................99 10.3.4 MERGERS .....................................................................................................................................................................99 11 COMPANY PROFILES ..........................................................................................................................100 (Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View)* 11.1 ADM ..............................................................................................................................................................................................100 11.2 DUPONT ........................................................................................................................................................................................104 11.3 THE NISSHIN OILLIO GROUP ........................................................................................................................................................107 11.4 SONIC BIOCHEM LIMITED ............................................................................................................................................................109 11.5 MGP INGREDIENTS .......................................................................................................................................................................111 11.6 GARDEN PROTEIN INTERNATIONAL .............................................................................................................................................114 11.7 BEYOND MEAT ..............................................................................................................................................................................116 11.8 AMY’S KITCHEN ............................................................................................................................................................................118 11.9 QUORN FOODS .............................................................................................................................................................................120 11.10 MORNINGSTAR FARMS ................................................................................................................................................................122 11.11 MEATLESS ....................................................................................................................................................................................124 11.12 VBITES ..........................................................................................................................................................................................125 *Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies. 16 sales@marketsandmarkets.com www.marketsandmarkets.com

  17. Meat SubStituteS Market - Global ForecaSt to 2023 TABLE OF CONTENTS 12 APPENDIX ...........................................................................................................................................126 12.1 DISCUSSION GUIDE .....................................................................................................................................................................126 12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL ..................................................................................129 12.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE .............................................................................................................131 12.4 AVAILABLE CUSTOMIZATIONS .....................................................................................................................................................132 12.5 RELATED REPORTS .......................................................................................................................................................................132 12.6 AUTHOR DETAILS .........................................................................................................................................................................133 17 sales@marketsandmarkets.com www.marketsandmarkets.com

  18. Meat SubStituteS Market - Global ForecaSt to 2023 LIST OF TABLES TABLE 1 USD EXCHANGE RATE CONVERSION ...................................................................................................................................................16 TABLE 2 MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION) .......................................................................................44 TABLE 3 TOFU & TOFU INGREDIENTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ......................................................................46 TABLE 4 TEMPEH MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ......................................................................................................47 TABLE 5 TVP MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ..............................................................................................................48 TABLE 6 OTHER SOY PRODUCTS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .............................................................................49 TABLE 7 SEITAN MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .........................................................................................................49 TABLE 8 QUORN MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ........................................................................................................50 TABLE 9 OTHER MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .......................................................................52 TABLE 10 MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..................................................................................54 TABLE 11 SOY-BASED MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ...............................................................55 TABLE 12 WHEAT-BASED MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ..........................................................55 TABLE 13 MYCOPROTEIN-BASED MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ............................................56 TABLE 14 OTHER MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .......................................................................57 TABLE 15 MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ..............................................................................59 TABLE 16 FROZEN MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .....................................................................60 TABLE 17 REFRIGERATED MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .........................................................60 TABLE 18 SHELF-STABLE MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) .........................................................61 TABLE 19 MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) ...................................................................................64 TABLE 20 NORTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION) ..................................................64 TABLE 21 NORTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION) .........................................................65 TABLE 22 NORTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ....................................................65 TABLE 23 NORTH AMERICA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ................................................66 TABLE 24 US: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ...........................................................................66 TABLE 25 US: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ........................................................................67 TABLE 26 CANADA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..................................................................67 TABLE 27 CANADA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ..............................................................68 TABLE 28 MEXICO: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..................................................................68 TABLE 29 MEXICO: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ...............................................................69 18 sales@marketsandmarkets.com www.marketsandmarkets.com

  19. Meat SubStituteS Market - Global ForecaSt to 2023 LIST OF TABLES TABLE 30 EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION) ................................................................71 TABLE 31 EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION) ........................................................................71 TABLE 32 EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..................................................................72 TABLE 33 EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ...............................................................72 TABLE 34 GERMANY: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ...............................................................73 TABLE 35 GERMANY: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ............................................................73 TABLE 36 UK: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ...........................................................................74 TABLE 37 UK: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ........................................................................74 TABLE 38 SPAIN: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ......................................................................75 TABLE 39 SPAIN: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ..................................................................75 TABLE 40 FRANCE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..................................................................76 TABLE 41 FRANCE: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ...............................................................76 TABLE 42 ITALY: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .......................................................................77 TABLE 43 ITALY: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ....................................................................77 TABLE 44 NETHERLANDS: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .......................................................78 TABLE 45 NETHERLANDS: MEAT SUBSTITUTES MARKET, BY CATEGORY, 2016–2023 (USD MILLION) ............................................................78 TABLE 46 REST OF EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ...................................................79 TABLE 47 REST OF EUROPE: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ................................................79 TABLE 48 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION) ........................................................82 TABLE 49 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION) ...............................................................82 TABLE 50 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ..........................................................83 TABLE 51 ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ......................................................83 TABLE 52 CHINA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .....................................................................84 TABLE 53 CHINA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ..................................................................84 TABLE 54 INDIA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .......................................................................85 TABLE 55 INDIA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ...................................................................85 TABLE 56 JAPAN: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .....................................................................86 TABLE 57 JAPAN: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ..................................................................86 TABLE 58 AUSTRALIA & NEW ZEALAND: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ................................87 19 sales@marketsandmarkets.com www.marketsandmarkets.com

  20. Meat SubStituteS Market - Global ForecaSt to 2023 LIST OF TABLES TABLE 59 AUSTRALIA & NEW ZEALAND: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) .............................87 TABLE 60 REST OF ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ...........................................88 TABLE 61 REST OF ASIA PACIFIC: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) .......................................88 TABLE 62 ROW: MEAT SUBSTITUTES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION) ......................................................................89 TABLE 63 ROW: MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION) .............................................................................89 TABLE 64 ROW: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ........................................................................90 TABLE 65 ROW: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ....................................................................90 TABLE 66 BRAZIL: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) ....................................................................91 TABLE 67 BRAZIL: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) .................................................................91 TABLE 68 ARGENTINA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .............................................................92 TABLE 69 ARGENTINA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) .........................................................92 TABLE 70 SOUTH AFRICA: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .......................................................93 TABLE 71 SOUTH AFRICA: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) ...................................................93 TABLE 72 OTHERS IN ROW: MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) .....................................................94 TABLE 73 OTHERS IN ROW: MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) .................................................94 TABLE 74 NEW PRODUCT LAUNCHES .................................................................................................................................................................97 TABLE 75 EXPANSIONS & INVESTMENTS ............................................................................................................................................................98 TABLE 76 ACQUISITIONS ......................................................................................................................................................................................99 TABLE 77 MERGERS ..............................................................................................................................................................................................99 20 sales@marketsandmarkets.com www.marketsandmarkets.com

  21. Meat SubStituteS Market - Global ForecaSt to 2023 LIST OF FIGURES FIGURE 1 MEAT SUBSTITUTES MARKET: MARKET SEGMENTATION ...................................................................................................................15 FIGURE 2 MEAT SUBSTITUTES MARKET: REGIONAL SEGMENTATION ................................................................................................................15 FIGURE 3 MEAT SUBSTITUTES MARKET INFORMATION AND DATA : RESEARCH DESIGN .................................................................................18 FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION ...........................................................19 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH ..............................................................................................21 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH.............................................................................................22 FIGURE 7 MARKET BREAKDOWN AND DATA TRIANGULATION ............................................................................................................................23 FIGURE 8 MEAT SUBSTITUTES MARKET SIZE, BY TYPE, 2018 VS. 2023 (USD MILLION) ..................................................................................27 FIGURE 9 MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2018 VS. 2023 (USD MILLION) .............................................................................28 FIGURE 10 MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2018 VS. 2023 (USD MILLION) .........................................................................29 FIGURE 11 MEAT SUBSTITUTES MARKET SHARE, BY REGION, 2017 ...................................................................................................................30 FIGURE 12 RISING HEALTH CONCERNS DUE TO INCREASING OBESITY LEVELS BROUGHT ON BY THE CONSUMPTION OF MEAT PRODUCTS DRIVES THE MEAT SUBSTITUTES MARKET ..............................................................31 FIGURE 13 TOFU & TOFU INGREDIENTS SEGMENT DOMINATED THE MARKET IN 2017 .....................................................................................32 FIGURE 14 SOY SEGMENT LED THE MARKET IN ALL THE REGIONS IN 2017 .......................................................................................................33 FIGURE 15 SOY SEGMENT HELD THE LARGEST SHARE IN 2017 ..........................................................................................................................34 FIGURE 16 FROZEN SEGMENT DOMINATED THE MEAT SUBSTITUTES MARKET IN 2017 ....................................................................................34 FIGURE 17 INDIA TO RECORD HIGHEST CAGR, 2018—2023 (USD MILLION) ......................................................................................................35 FIGURE 18 RISING HEALTH CONCERNS DUE TO INCREASING OBESITY LEVELS BROUGHT ON BY THE CONSUMPTION OF MEAT PRODUCTS ....................................................................................................................................36 FIGURE 19 OBESITY AMONG ADULTS (2015) ........................................................................................................................................................37 FIGURE 20 SOYBEAN PRODUCTION IN INDIA AND CHINA, 2016 VS. 2017 (MMT) ..............................................................................................40 FIGURE 21 MEAT SUBSTITUTES MARKET: SUPPLY CHAIN ...................................................................................................................................41 FIGURE 22 GEOGRAPHIC SNAPSHOT (2018–2023): RAPIDLY GROWING MARKETS ARE EMERGING AS NEW HOTSPOTS ................................63 FIGURE 23 EUROPE: MARKET SNAPSHOT .............................................................................................................................................................70 FIGURE 24 ASIA PACIFIC: MARKET SNAPSHOT .....................................................................................................................................................81 FIGURE 25 KEY DEVELOPMENTS BY LEADING PLAYERS IN THE MEAT SUBSTITUTES MARKET, 2013–2017 .....................................................95 FIGURE 26 MEAT SUBSTITUTES MARKET DEVELOPMENTS, BY GROWTH STRATEGY, 2015–2017 .....................................................................96 FIGURE 27 ADM: COMPANY SNAPSHOT .............................................................................................................................................................100 FIGURE 28 ADM: SWOT ANALYSIS .......................................................................................................................................................................102 21 sales@marketsandmarkets.com www.marketsandmarkets.com

  22. Meat SubStituteS Market - Global ForecaSt to 2023 LIST OF FIGURES FIGURE 29 DUPONT: COMPANY SNAPSHOT .......................................................................................................................................................104 FIGURE 30 DUPONT: SWOT ANALYSIS .................................................................................................................................................................106 FIGURE 31 THE NISSHIN OILLIO GROUP: COMPANY SNAPSHOT .......................................................................................................................107 FIGURE 32 THE NISSHIN OILLIO GROUP: SWOT ANALYSIS ................................................................................................................................108 FIGURE 33 SONIC BIOCHEM LIMITED: SWOT ANALYSIS ....................................................................................................................................110 FIGURE 34 MGP INGREDIENTS: COMPANY SNAPSHOT ......................................................................................................................................111 FIGURE 35 MGP INGREDIENTS: SWOT ANALYSIS ...............................................................................................................................................113 22 sales@marketsandmarkets.com www.marketsandmarkets.com

  23. Meat SubStituteS Market - Global ForecaSt to 2023 SAMPLE TABLES TABLE 1 MEAT SUBSTITUTES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION) SOurCe 2016 2017 2018-e 2023-p CAgr (2018–2023) Soy XX.X XX.X XX.X XX.X XX.X% Wheat XX.X XX.X XX.X XX.X XX.X% Mycoprotein XX.X XX.X XX.X XX.X XX.X% Others* XX.X XX.X XX.X XX.X XX.X% TOTAL XX.X XX.X XX.X XX.X XX.X% e - Estimated; p – Projected *Others includes rice, pea, pulses, and milk. Source: Related Research Publications, Government Publications, Company Press Releases, Company Annual Reports, Company Websites, Company Publications, and MarketsandMarkets Analysis TABLE 2 MEAT SUBSTITUTES MARKET SIZE, BY CATEGORY, 2016–2023 (USD MILLION) CATegOrY 2016 2017 2018-e 2023-p CAgr (2018–2023) Frozen XX.X XX.X XX.X XX.X XX.X% Refrigerated XX.X XX.X XX.X XX.X XX.X% Shelf-stable XX.X XX.X XX.X XX.X XX.X% TOTAL XX.X XX.X XX.X XX.X XX.X% e - Estimated; p – Projected Source: Related Research Publications, Government Publications, Company Press Releases, Company Annual Reports, Company Websites, Company Publications, and MarketsandMarkets Analysis TABLE 3 MEAT SUBSTITUTES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) regiON 2016 2017 2018-e 2023-p CAgr (2018–2023) Europe XX.X XX.X XX.X XX.X XX.X% North America XX.X XX.X XX.X XX.X XX.X% Asia Pacific XX.X XX.X XX.X XX.X XX.X% RoW XX.X XX.X XX.X XX.X XX.X% TOTAL XX.X XX.X XX.X XX.X XX.X% e – Estimated; p – Projected *RoW includes Brazil, Argentina, and South Africa. Source: Expert Interviews, Related Associations/Institutes, Related Research Publications, Government Publications, and MarketsandMarkets Analysis 23 sales@marketsandmarkets.com www.marketsandmarkets.com

  24. Meat SubStituteS Market - Global ForecaSt to 2023 APPENDIX KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL Knowledge Store contains MarketsandMarkets’ unique market insights. As a subscriber you have access to all of the published titles and any new ones added over the course of the subscription period. You can subscribe to specific number of reports or domains of your interest. KNOWLeDge STOre eNABLeS YOu TO: • View & download all subscribed reports from a single, online platform • Contact our analysts to answer any questions related to our reports or request a custom research • Share comments on specific reports with the other users of your organization • Suggest titles/topics to our research teams that you would like us to cover in our future reports • Identify reports published on the high growth markets within your industry Get started now by requesting a demo and learning more about Knowledge store - https://www.mnmks.com MArKeTSANDMArKeTS KNOWLeDge STOre, FOOD & BeVerAge SNAPSHOT 24 sales@marketsandmarkets.com www.marketsandmarkets.com

  25. Meat SubStituteS Market - Global ForecaSt to 2023 RELATED REPORTS Sr. NO. rePOrT TiTLe PuBLiSHeD DATe MeAT SPeCiATiON TeSTiNg MArKeT - gLOBAL FOreCAST TO 2022 01 JANuArY 2017 By Species (Bos Taurus, Sus Scrofa, Gallus, Equus Caballus, Ovis Aries), Technology (PCR, ELISA, Molecular Diagnostic), Form (Raw, Cooked, Processed), and Region MeAT PrOCeSSiNg eQuiPMeNT MArKeT - gLOBAL FOreCAST TO 2022 By Type (Cutting, Blending, Tenderizing, Filling, Dicing, Grinding, Smoking), Meat Type (Beef, Pork, Mutton), and Product Type (Fresh Processed, Raw Cooked, Precooked, Raw Fermented, Cured) NOVeMBer 2016 02 25 sales@marketsandmarkets.com www.marketsandmarkets.com

  26. Meat SubStituteS Market - Global ForecaSt to 2023 ABOUT MARKETSANDMARKETS TM MarketsandMarkets™ is the world’s largest revenue impact company, serving over 7500 customers. 80% of top 2000 companies globally rely on us for identifying new high growth and niche revenue opportunities. In the face of constant technology innovation and market disruption, we help organizations plan and operationalize their future revenue mix decisions by identifying over 30,000 high growth opportunities ranging from $1B to $500B across 90+ industry trends and markets. Organizations choose MarketsandMarkets™ to stay ahead of the curve and accelerate their revenue decisions and implementations by 6 – 12 months, giving them a unique, first-mover advantage. Our revenue impact methodology provides quantified and actionable insights on converged, granular and connected market eco-systems that result from disruptive technologies and high-growth markets. We provide an extended lens on not only what will impact our client’s revenue but also what will impact their clients’ revenues, continually uncovering latent opportunities. We work across all major B2B industries with C-level executives in functions such as Strategy, Marketing, Sales, R&D, Product, and M&A. MarketsandMarkets™ brings exclusive high-growth markets intelligence generated by over 850 SMEs and analysts along with its proprietary Revenue Impact platform (Knowledge Store). COPYRIGHT © 2018 MARKETSANDMARKETS™ All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets™. No part of it shall be circulated, copied, quoted, or otherwise reproduced without the prior written approval of MarketsandMarkets™. DISCLAIMER: MarketsandMarkets™ provides strategic analysis services to a select group of customers in response to orders. Our customers acknowledge when ordering that these strategic analysis services are solely for internal use and not for general publication or disclosure to any third party. MarketsandMarkets™ does not endorse any vendor, product, or service profiled in its publications. MarketsandMarkets’™ strategic analysis constitutes estimations and projections based on secondary and primary research and are therefore subject to variations. MarketsandMarkets™ disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness, for any particular purpose. MarketsandMarkets™ takes no responsibility for incorrect information supplied to it by manufacturers or users. Trademarks, copyrights, and other forms of intellectual property belong to MarketsandMarkets™ or their respective owners and are protected by law. Under no circumstance may any of these be reproduced, copied, or circulated in any form, without the prior written approval of MarketsandMarkets™ or its owner—as the case may be. No part of this strategic analysis service may be given, lent, resold, or disclosed to any third party, without express permission from MarketsandMarkets™. Reproduction and/or transmission in any form and by any means, including photocopying, mechanical, electronic, recording, or otherwise, without the permission of MarketsandMarkets™, is prohibited. FOR INFORMATION REGARDING PERMISSION, CONTACT: 1-888-600-6441 26 sales@marketsandmarkets.com www.marketsandmarkets.com

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