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The LAMEA Meat Substitute Market Size would grow at 7% 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. Availability of meat substitute products with good flavors is adding more value to its demand. Generally, consumers prefer meat alternatives that are delicious, healthier, and cheaper as well. Therefore, companies are coming up with new delicious version of meat alternatives such as vegan burgers, that taste, look, and also cooked like meat, but healthier than meat. Products like tofu, mushrooms, jackfruit, eggplant, lentils, beans & legumes, cauliflower, and others have been trending among the vegan population.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of Latin America, Middle East & Africa (LAMEA). Brazil remained the dominant Country in the Latin America, Middle East and Africa 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.