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Global Meat Substitutes Market Industry Trends, Size, Share and Forecast 2023

The meat substitutes market is projected to grow from USD 4.6 billion in 2018 to USD 6.4 billion by 2023, recording a CAGR of 6.8% during the forecast period. This is attributed to the growing health concerns among consumers and increasing preference for vegan food due to their various health benefits. Furthermore, rising obesity levels due to the consumption of meat and meat products have led to an increasing consumer preference for meat substitutes.

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Global Meat Substitutes Market Industry Trends, Size, Share and Forecast 2023

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  1. MarketsandMarkets™ Presents Meat Substitutes Market - Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/meat-substitutes-market-979.html

  2. The report "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" The meat substitutes market is projected to grow from 4.6 billion in 2018 to USD 6.4 billion by 2023, recording a compound annual growth rate (CAGR) of 6.8% during the forecast period. The major factors driving the growth of the meat substitutes market include rising health concerns such as obesity and diabetes due to the consumption of meat products. In addition, benefits provided by meat substitute products, such as weight loss and general wellbeing, are projected to drive the market for these products during the forecast period. Browse 77 market data Tables and 35 Figures spread through 133 Pages and in-depth TOC on "Meat Substitutes Market - Global Forecast to 2023 “ The Asia Pacific is projected to be the fastest-growing region in the meat substitutes market during the forecast period. The Asia Pacific is projected to be the fastest-growing region in the meat substitutes market during the forecast period due to the increasing focus on agricultural practices and requirement of high-quality agricultural produce. Furthermore, the support from government and other organizations for manufacturing meat substitute products is projected to drive the growth of this market. Additionally, the growing preference for organically grown food products among consumers and diversified food habits of people in this region are factors that are projected to drive the market growth for meat substitutes. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=979

  3. Report Objectives: • Determining and projecting the size of the meat substitutes market, with respect to type, source, category, and regional markets, over a five-year period, ranging from 2018 to 2023. • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions • Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges) • Analyzing the micromarkets, with respect to individual growth trends, future prospects, and their contribution to the total market • Identifying and profiling key market players in the meat substitutes market • Providing a comparative analysis of the market leaders on the basis of the following: • Product offerings • Business strategies • Strengths and weaknesses • Key financials • Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions • Analyzing the value chain, products, and regulatory frameworks across key regions and their impact on the prominent market players • Providing insights into key product innovations and investments in the meat substitutes market • Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=979

  4. The frozen segment is projected to account for the largest market share in the meat substitutes market during the forecast period. The meat substitutes market is segmented, on the basis of category, into frozen, refrigerated, and shelf-stable. The frozen segment is projected to be the largest segment in the meat substitutes market during the forecast period. This is attributed to the rise in demand for convenience foods and the development of emerging economies such as China, India, and Brazil. The wheat segment is projected to be the fastest-growing segment in the meat substitutes market during the forecast period. The meat substitute market is segmented, on the basis of source, into soy, wheat, mycoproteins, and others, which include rice and milk. The wheat segment is projected to be the fastest-growing segment due to its rich essential amino acids and vitamin content. The tofu & tofu ingredients segment is projected to account for the largest market share in the meat substitutes market during the forecast period. The meat substitutes market is segmented, on the basis of type, into tofu & tofu ingredients, tempeh, textured vegetable protein, and other soy products, which include miso, yaso, and nattô), seitan, quorn, and other meat substitutes such as risofu, valess, lupine, rice protein, and pea protein. The tofu & tofu ingredients segment is projected to be a leading segment in the meat substitutes market Request Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=979

  5. Europe is projected to account for the largest market share in the meat substitutes market during the forecast period. • The European market accounted for the largest share in the meat substitutes market in 2017. This is attributed to increasing awareness regarding nutritional and meatless food and growing flexitarian population in this region.  Furthermore, growing incidences of meat adulteration and spoiled meat have encouraged consumers to switch to vegan diets, which is projected to drive the market for meat substitutes in this region. • Key Market Players • Key vendors in the global meat substitutes market include ADM (US), DowDuPont (US), The Nisshin OilliO Group (Japan), Sonic Biochem Limited (India), MGP Ingredients (US), Garden Protein International (Canada), Beyond Meat (US), Amy's Kitchen (US), Quorn Foods (UK), MorningStar Farms (US), Meatless (Netherlands), and VBites (UK). • Recent Developments: • In August 2017, ADM expanded its non-GMO soybean processing capabilities in Germany, to meet the growing demand for non-GMO and high-protein soybean meal across Europe. • Beyond Meat launched a new product, Beyond Sausage, in December 2017, to expand its product portfolio. • Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=979

  6. Contact Us Contact:Mr. Shelly SinghMarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email: sales@marketsandmarkets.comBlog @ http://www.marketsandmarketsblog.com/market-reports/food-and-beverage Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

  7. 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.

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