Meat substitutes are deemed as being at the apex, with regards to innovative of food. There won’t be any indication that customers will recoil from meat any time soon. Future Market Insights has developed a report on global meat substitutes market. An analyst from FMI has fielded several question from presumptive expansion of global meat substitutes market.
How according to you will the global market for meat substitutes expand in near future?
Well, according to Future Market Insights, the global market for meat substitutes is likely to upsurge at an evaluated 5.8% CAGR during the assessment period (2017-2026). The report reveals that meat substitutes worth US$ 7 Bn will be sold during 2017-2026.
Why do you think the global meat substitute market will exhibit high growth?
Typically, it has been observed that there is rise in demand for flexibility in the in the diet. Control over consumption of meat is stared as method of flexibility. Other than health-associated factors, consideration and sustainability are further propelling demand for meat substitutes, particularly among women. Rising health concerns such as obesity and diabetes are the key reason for increasing demand for meat substitute. Further the growth of meat substitutes are anticipated to expand owing to health benefits such as weight loss, general wellbeing. Rising acceptance of meat substitutes has further led manufacturers to innovate and develop product line for meat substitutes that eventually contributes significantly towards the expansion of the global meat substitutes market. Additionally, religious limitations and carbon footmark of meat creation has further engaged consumers to minimize meat consumption and prefer its substitutes.
How soy-based products will create more opportunities in the global meat substitute market?
Soy-based meat substitutes contribute more to the growth of the market and has largest market share, followed by mycoprotein through 2026. This is owing to the fast that soy protein are dependable and cost-effective substitutes. Meat substitutes based on soy have ability to hold capacity to be formed, in a way, which can exhibit organoleptic features of meat products. On the other hand, frozen meat substitutes among the category type products holds lions share in the global market through 2026. The rising demand for convenience foods owing to increasing income level of customers, is deemed as one of the key factors, which is propelling frozen meat substitutes market. Key countries such as China and India are considerably backing towards the growth of the global frozen meat substitutes market.
Why do you think Europe will retain its dominance in global meat substitute market?
Well, according to report, Europe is likely to maintain its dominance in the global meat substitute market through 2026. The growth of the market in the this region is attributed to the increasing incidents of diseases and conditions like constipation, high-blood pressure and diabetes and rising number of health-conscious consumers.
What factors are propelling demand for frozen meat substitutes?
On the basis of category, frozen meat procures largest share of the global market, shadowed by refrigerated meat substitutes. Due to flexible purchasing patterns as well as shifting customer choices from small grocery shops to hypermarkets, supermarkets, the frozen meat substitute is gaining traction in the global market.
What are the leading players operating in the global meat substitute market?
Well, Amys Kitchen Inc., Garden Protein International, Inc., Cauldron Foods, Vbites Food, Ltd., Beyond Meat, MGP Ingredients Inc., DuPont, The Nisshin OilliO Group, and Meatless B.V. are observed as prominent players operating in the global market. Additionally, Quorn Foods, ADM, Morningstar Farms, and Sonic Biochem Extractions Limited have further consolidated their footprints in the global meat substitutes market.
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