Pune, India, February 24, 2021 (GLOBE NEWSWIRE) – The universe meat instead of market size expected to reach USD 8,155.8 million by 2026, exhibiting a CAGR of 8.4% in the forecast period. One of the important factors driving market growth is the appropriate aspect of plant-based products, counted as healthier, sustainable and eco-friendly. In addition, the growing number of vegans worldwide will contribute to market expansion. According to the Vegan Association, the number of vegans in Britain quadrupled between 2014 and 2019. In 2019 there were 600,000 vegans, or 1.2% of the population; 276,000 (0.5%) in 2016; and 150,000 (0.3%) in 2014. The market stood at 4,340.5 million USD in 2018.
A list of the major companies covered in the meat substitutes market is:
- Tyson Foods, Inc.
- Greggs plc
- Marlow Foods Ltd.
- Conagra Brands, Inc.
- Unilever NV
- Hilton Food Group plc
- Kerry Plc Group
- Savage River Inc.
- JUST, Inc.
- Impossible Foods Inc.
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The report provides information about the current trends and features in the market. It offers a higher vision and shares a comprehensive account of all the departments. It is compiled after much research and then in-depth analysis to help companies, stakeholders, financiers and investors. It is designed with the aim of providing a clearer picture of the market, which includes the latest innovations and development, product launches, construction, collaborations & partnerships, and others.
Growing inclined towards veganism to accelerate growth opportunities
Increasing veganism and velleity towards plant-based (vegan) diet patterns is driving the market trends of meat substitutes. The rapid decline in meat consumption in the developed market of Western Europe and North America is expected to create growth opportunities for the market. In addition, the growing awareness of the link between too much processed red meat to a number of non-communicable diseases such as cancer, heart disease, stroke, diabetes, liver disease, lung disease, and better kidney disease for future market growth. The growing temptation of flexitarians, who are often directed to plant-based meat products due to ethical, environmental and health concerns, tends to stimulate the demand for meat substitutes and thus , stimulating market growth.
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Food security concerns to increase market potential
The growing concern for food security will be an important feature for market expansion. The growing population and the inability of meat production to meet the demand will also be a good success for the market. According to the United Nations report, the world’s population is expected to increase by 2 billion people in the next 30 years, from the current 7.7 billion to 9.7 billion in 2050. The growing concern growth on climate change contributes significantly to meat market share. For example, about 15% of greenhouse gas emissions come from livestock production. Such trends are expected to encourage key market players to expand their meat substitute package.
An online sales segment will contribute to healthy growth
The wholesaler is expected to record a CAGR of 8.1% in the forecast period due to the wider reach, more shelf life, attractive discounts, and bundling strategies. The online retail sector is seeing strong growth momentum as a result of growing knowledge about the benefits of e-commerce and its convenience.
One of the recent developments seen in the meat substitute market is:
May 2019: Expand Beyond Meat, Inc. its partnership with Zandbergen World’s Finest Meat to produce innovative plant-based meats at a new manufacturing facility Zandbergen is building in Zoeterwoude, the Netherlands.
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Detailed Contents:
- Introduction
- Scope of research
- Market view
- Research Methodology
- Explanations and assumptions
- Government Minutes
- Market dynamics
- Market drivers
- Market barriers
- Market opportunities
- Emerging trends
- Key views
- Overview of the parent / related markets
- Plant-based food products
- Meat production and consumption bias
- Recent Business Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Meat Local Production Patterns and Measurements – Analysis and Forecast
- Overview of the parent / related markets
- Global meat market analysis, outlook and outlook, 2015-2026
- Main Findings / Summary
- Market size estimate and forecast
- By Source (Value)
- Soy-based ingredients
- Wheat-based ingredients
- Other grain-based ingredients
- Text vegetable proteins
- With a Distribution Channel (Value)
- Beauty buyers
- Special products
- Online retail
- Other sales channels
- Food service
- By area (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Source (Value)
TOC continues…!
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Lab Growing Meat Market Size, Proportion and Industry Analysis by Type (Beef, Pork, Birds, Seafood), Demand (Food Retail, Food Service Channels), and Regional Estimate 2021-2028
Plant-based Shopping Market Size, Share & Industry Analysis, By Nature (Organic, Conventional), By Type (Wafers, Snack Bar, Biscuits), by Source (vegetables, fruits, grains, tubers, legumes), by circulation channel (cosmetics buyers, convenience stores, online Retail, specialty stores) and regional forecast, 2021-2028
Market size of processed meat, Share & Industry Analysis, by type (frozen, canned, and chilled), animal type (chicken, beef, pork, and others), Distribution Channel (Hypermarket / Supermarket, Convenience Stores, Specialty Products , and others), and Regional Outlook, 2020 – 2027
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