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The Asia Pacific Meat Substitute Market Size is estimated to witness a growth rate of 7.2% CAGR during the forecast period (2017 - 2023).
Consuming meat is an essential part of life for many people. However, most of the population is now turning towards the consumption of meat substitutes to fulfill the protein needs. Meat Substitute, also known as meat alternatives, meat replacers, vegan meat or vegetarian meat, or meat analogues, which are plant based products that contain proteins, cereal proteins, or pluses (mainly soy based).
Meat substitutes are one of the best sources to easily maintain daily nutrition and protein levels. Some common meat substitutes are seeds, soy products, milk, cereals, eggs and others. These products have similar color, flavoring and appearance; however, these products are much healthier as compared to meat. These products contain amino acid, which is one of main source of protein. Changing lifestyle has become one of the major factors driving the growth of the meat substitute market. There is a growing awareness a about health and diet among the population around the world.
Therefore, people are now turning towards plant based products. Non- Meat food that contains all the correct amino acid could provide various health benefits. Meat substitutes could reduce risk of high cholesterol, diabetes, obesity, high blood pressure and other harmful diseases, which could be caused by eating unhealthy foods. The meat substitute products could provide positive impact on the environment as well.
Production of meat could result in polluting the environment, one such example is generation of Green House Gases while producing Meat. Based on the Sources, the Meat Substitute market is segmented into Soy, Wheat, Mycoprotein, and Others. Based on the Types, the market is segmented into Refrigerated and Frozen. Based on Product Types, the market is segmented into Textured Vegetable Protein Based, Tofu Based, Tempeh Based, Quorn Based, Seitan Based, and Others. Based on Country, Meat Substitutes market is segmented into China, Japan, India, Malaysia, Singapore, Australia and Rest of Asia Pacific.
China remained the dominant Country in the Asia Pacific Meat Substitutes market in 2016. The report covers the analysis of key stake holders of the Meat Substitutes market. Key companies profiled in the report include Amys Kitchen Inc., Beyond Meat, Premier Foods (Cauldron Foods), Monde Nissin Corporation (Quorn Foods), Meatless B.V., MGP Ingredients Inc., and Vbites Food, Ltd.