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The North America Meat Substitute Market Size is poised to grow at a CAGR of 5.2% 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. There has been a continuous growth in the adoption of plant based products all over the world. Growing awareness about the consequences of consuming animal based products have resulted in the growing demand for meat alternative products. Health related institutions have also taken the initiative to raise awareness about health-related issues that arise due to the consumption of red and other meat. Hence, people are becoming more conscious about their health.
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 US, Canada, Mexico and Rest of North America. US remained the dominant Country in the North America 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.