A recent report published by Infinium Global Research on the meat substitute market provides an in-depth analysis of segments and sub-segments in the global as well as regional meat substitute market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional meat substitute market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global meat substitute market. According to the report, the global meat substitute market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
Some segments of society have opposed intensive animal husbandry due to its detrimental effects on the environment and animal welfare. Diets that limit or forbid the consumption of animal products have become popular as a result of this. The market for meat replacements is predicted to rise as a result of this. Due to growing consumer health consciousness, the COVID-19 pandemic has had a significant influence on traditional meat consumption patterns. One of the primary reasons influencing the global demand for items made from plants is the rising consumer knowledge of the advantages of a vegan diet. A further important reason driving the expansion of these products in many locations is the health benefit associated with cholesterol-free protein.
Consumer food choices are changing considerably on a global scale. People are becoming more conscious of the importance of maintaining a healthy lifestyle and choosing a balanced approach to protein intake. The Gen Z and millennial populations have recently demonstrated support for enhanced packaging in terms of environmental impact. Increasing demand from people who value their health could increase the market share for meat substitutes during the anticipated period. Additionally, the increased risk of diabetes, cancer, and cardiovascular disease brought on by red meat consumption will further promote the consumption of meals with plant-based proteins. However, difficulties in reproducing the color of meat and difficulties in producing meat flavor may restrain market expansion.
The market for meat alternatives in the Asia Pacific is anticipated to grow significantly over the course of the projected period. The majority of the share in the region is contributed by nations like China and Australia. Social media influence and growing health consciousness have raised the usage of these items in various nations. The demand for premium plant-based alternatives has increased as people's diets have become more plant-based and less animal protein-heavy. Prior to now, there weren't many options for high-quality vegetarian and vegan alternatives, and those that did exist were sometimes manufactured with unhealthily processed components.
The report on the global meat substitute market covers segments such as source, and distribution channel. On the basis of source, the sub-markets include plant-based protein, mycoprotein, soy-based, and others. On the basis of distribution channel, the sub-markets include foodservice, and retail.
The report provides profiles of the companies in the market such as Ingredion Incorporated, The Archer-Daniels-Midland Company, Batory Foods, Tyson Foods, Inc., Sunfed, VBites, Meatless, Unilever plc, The Kellogg Company, and Quorn.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the meat substitute market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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