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A meat substitute or meat analogue is a meat-like substance made
from plants. It is designed to equal animal alternatives in texture and taste.
Initially, interest in meat substitutes was confined to grain-based foods.
Grain is commonly used as a filler for sauces and dressings; however, it is
difficult to substitute grains for meats and eggs without affecting taste and
texture. Some studies indicated that using bread crumbs or other forms of flour
for baked goods resulted in lower consumer satisfaction than using meat or fish
scratchings in place of eggs. In addition, using meat substitutes resulted in
higher calorie intakes since most foods used in these dishes contain more fat
than carbohydrates.
Increasing adoption of plant-based protein is expected to drive
growth of the global meat substitute market during the
forecast period. Consumers are increasingly favoring plant-based protein over
meat-based. Although meat is an excellent source of protein, there is people
are increasingly preferring vegan or vegetarian food. Rising incidence of
obesity-related diseases such as diabetes and cardiovascular disease has made
consumers more health-conscious. According to the World Health Organization
(WHO), around 17.9 million people die each year from cardiovascular disease,
which around 31% of all deaths worldwide. According to the same source, around
85% of all CVD deaths are due to heart attacks and strokes. As a result of
this, a large population is preferring a much healthier source of protein.
Thus, these factors are expected to drive growth of the global meat substitute
market during the forecast period. However, rising inclination for pea protein
ingredients is expected to boost the global meat substitute market growth over
the forecast period.
However, emergence of the cultured meat market and insect protein
is expected to restrain growth of the global meat substitute market during the
forecast period. Moreover, allergy concerns among consumers of wheat and soy
products are expected to hamper the global meat substitute market growth over
the forecast period. Among regions, Europe is expected to witness significant
growth in the global meat substitute market during the forecast period. This is
owing to increasing preference for purchasing meat-free products in the region.
Furthermore, Asia Pacific is expected to register a robust growth rate in the
global meat substitute market over the forecast period. This is owing to rising
health awareness among consumers.
Key players operating in the global meat substitute market are
Conagra Brands Inc., The Tofurky Company, Amy's Kitchen Inc., The Superbom,
Blue Chip Group, Vegabom Healthy Option, The Campbell Soup Company, and Beyond
Meat Inc.
For instance, in July 2019, Gardein, a brand of Conagra Brands
Inc., introduced new plant-based, meat-free food products including Skillet
Meals, Breakfast Sausage, Italian Sausage Patties, etc.
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