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Meat substitutes are meatless food that have taste, appearance, and texture of food made from meat, poultry, and fish. The main source used in the production of meat substitutes is a plant protein such as glutens and globulins. Meat substitutes are high in protein and calcium; thus, the intake of these substitutes is largely observed among sportspersons and young generation. Ongoing trends such as vegan and consuming plant protein have shown extraordinary results in a reduction of cholesterol, preventing menopausal complications and various other diseases. Recently, a large percentage of the population is preferring vegetarian food that has impelled the demand for meat substitutes.
The global meat substitutes market is segmented on the basis of type, source, and category. On the basis of type, the meat substitutes market is segmented into tofu & tofu ingredients, tempeh, textured vegetable protein (TVP), seitan, quorn, and others. By source, the meat substitutes market is bifurcated soy, wheat, mycoprotein, and others. By category, the meat substitutes market is divided into frozen, refrigerated, and shelf-stable.
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The List of Companies 1. Amy’s Kitchen, Inc. 2. Archer Daniels Midland Company 3. Beyond Meat 4. Cauldron Foods 5. E. I. du Pont de Nemours and Company 6. Garden Protein International Inc 7. MGP Ingredients, Inc. 8. Morningstar Farms 9. Quorn Foods 10. VBites Foods Limited
The meat substitute market has gained substantial growth due to the health benefits of meat substitutes and increased preference for vegetarian foods. Also, an increase in the incidence of health disorders and fitness awareness among consumers is expected to drive the meat substitute market growth. Furthermore, companies are innovating and developing product lines for meat substitutes due to increasing adoption level of meat substitutes by consumers. However, the lack of good taste in comparison to natural meat products is hindering the global meat substitute market. Moreover, rising organized retail sector for meat substitutes is expected to provide strong market growth opportunity in the future.
The report analyzes factors affecting the meat substitutes market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the meat substitutes market in these regions.
The reports cover key developments in the meat substitutes market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from meat substitutes market are anticipated to lucrative growth opportunities in the future with the rising demand for Meat substitutes in the global market. Below mentioned is the list of few companies engaged in the Meat substitutes market.
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