The growing inclination of the masses towards vegan lifestyles has played a key role in driving sales across the global meat alternatives market. Moreover, several people in Asia Pacific follow strictly vegetarian diets which also popularises meat alternatives. The food and beverages industry is emphasizing on popularising several green vegetables under the tag of meat alternatives. Besides, dieticians also recommend a range of meat alternatives to people on strict vegetarian diets. Therefore, the total volume of revenues within the global meat alternatives market is set to increase by leaps and bounds in the years to follow.
Transparency Market Research (TMR) finds that the global meat alternatives market would grow at a CAGR of 6.10% over the period between 2018 and 2026. The total value of the market is apex up in the years to follow.
Adoption of Vegetarian and Vegan Diets
The undulating growth trajectory of the global meat alternatives market is projected to stabilise over the years to follow. Until a decade ago, a large population of people was not familiar with the advantages of following vegan diets; but that has changed in recent times. Several researchers argue that the integrity of the ecosystems can be restored if human being start following vegan or vegetarian diets. Besides, efforts of animal rights activists have been advocating the advantages of going vegan. The aforementioned trends are expected to directly benefit the vendors operating in the global meat alternatives market. Besides, advancements in food research have also helped in developing healthy and sapid alternative to meat.
Cauliflower Sales Win over Other Alternatives
Cauliflower is a widely used alternative to meat, and the easy availability of the former shall aid market growth. Moreover, a number of people look for fibrous vegetables that can substitute meat. This trend has also aided the growth of the global meat alternatives market. Cauliflower is widely sauté, grilled, or baked in marinades and spices. The various forms of recipes available for cauliflower, and other meat alternatives such as wild rice, beat root, and goat cheese, has aided market growth. It would be interesting to see the response of the masses to new food items being sold as meat alternatives in recent times.
Emotional Conditioning of People
A number of people have given in to emotional persuasion against use of meat products. This has led a large population of people to replace meat with lentils, beans, and tofu in their diets. Furthermore, several fitness professionals also actively look for sapid and healthy meat alternatives. These trends have collectively helped in popularising meat alternatives across the globe. Availability of robust distribution channels for meat alternatives, coupled with the widening product portfolio of retail outlets, has also driven sales. Oat flakes, lupin protein, black beans, and tempeh are some of the far-fetched alternatives to meat.
The global meat alternatives market can be segmented by:
- Soy-based Meat Alternatives
- Wheat-based Alternatives
- Mycoprotein-based meat alternatives
- Other sources of meat alternatives
- Modern Groceries
- Discount Stores
- Convenience Stores
- Food & Drink Specialty Stores
- Traditional Groceries
- Online Retail
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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