Meat Alternatives Market to Surpass Valuation of US$ 434.12 Bn by 2031: Transparency Market Research

Meat Alternatives Market: Introduction

The latest research report published by Transparency Market Research on the global market for meat alternatives such as Europe, North America, South America, Oceania, East Asia, South Asia, Middle East, and Africa industry analysis and growth opportunity assessment for 2021-2031. Meat alternatives holds a value share of 31.9% in the Europe market, which is estimated to value US$ 53.59 Bn in 2021, and rise at a CAGR of 10.3% to reach US$ 143.4 Bn by 2031.

meat alternatives market

Concerns about Obesity in People Driving Demand for Meat Substitutes

The increased intake of unhealthy/comfort foods rich in cholesterol has resulted in an alarming rise in the number of obese people. Obesity is one of the chronic ailments afflicting developed countries such as the U.S., France, the U.K., and others.

Government authorities in these countries are working to make changes in the food business to improve the nutritional value of processed vegetable and animal products. Plant-based meat products have been found as viable dietary components for increasing protein content without raising cholesterol. Obesity is anticipated to become epidemic, posing a public health problem, since it affects majority of the population, from newborns to adults. Furthermore, obesity-related cardiovascular disorders such as diabetes, hypertension, and dyslipidemia pose a hazard to human health.

Sports Nutrition Witness Increase in Demand for Meat Substitutes

Most athletes are increasingly moving to vegan diets due to increased understanding of the health benefits connected with the usage of animal substitutes. Vegan diets are well-suited to an athlete's training regimen. A vegan diet is richer in carbohydrates, the major fuel for athletes, as meat, poultry, dairy, fish, and other animal products are eliminated from the mix. Quinoa, brown rice, protein-enriched pasta, almonds, tofu, soymilk, tempeh, peanut butter, beans, and peas are all good sources of protein for vegan athletes.

Soybeans Substituted with Lupines in Production of Tempeh

The demand for tempeh and other soy foods is gradually surpassing the availability of soybeans, the primary raw ingredient. As a result, producers are turning to indigenous resources such as lupines to make tempeh. Lupine tempeh and other multigrain tempeh, including lupines are becoming more common on store shelves. The growth of the lupine business is a source of great confidence for the major lupine processors. Lupines for the manufacture of tempeh have been successfully sold in a number of countries. Tempeh is mostly consumed in Eastern Australia, which also produces soybeans.

Improving Meat Alternative Production Techniques in Important Meat-producing Regions

Indonesia is a crucial region that produces and consumes the majority of tempeh worldwide, as well as a key country that controls the expansion of the tempeh segment as a meat substitute in the Western world. However, due to the low quality of its products, its market expansion has been limited. As Indonesian tempeh is viewed as of low quality owing to unsanitary production procedures, improvisation in these processes and development of clean and hygienic manufacturing methods are significant issues preventing the majority of market expansion.

Organizations in the U.S. are making significant efforts in this area, and a few businesses are focusing their efforts on the growth of this industry. Manufacturers, on the other hand, have a low level of awareness. There is also a need for investment in food safety, cleanliness, and sanitation, as well as the availability of enhanced technology to tempeh producers, which might be a powerful stimulus for the market's growth.

These changes will also result in a lower carbon footprint during production, which will meet international requirements and meet the demand for clean label and sustainable products in developed nations.

Global Meat Alternatives Market: Segmentation

Meat Alternatives Market by Product Type

  • Tofu
  • Tempeh
  • Seitan
  • Natto
  • Others

Meat Alternatives Market by Source

  • Soy-based Meat Alternatives
  • Wheat-based Meat Alternatives
  • Mycoprotein Meat Alternatives
  • Other Sources of Meat Alternatives

Meat Alternatives Market by Category

  • Refrigerated
  • Frozen

Meat Alternatives Market by Distribution Channel

  • Direct
  • Indirect
    • Modern Groceries
    • Convenience Stores
    • Discount Stores
    • Food & Drink Specialty Stores
    • Traditional Groceries
    • Online Retail

Meat Alternatives Market by Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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