Report: meat substitutes market already worth $4 billion

24 May 2017

According to a new report from researcher Visiongain, the global meat substitutes market has experienced rapid growth in recent years. Visiongain predicts that, in 2017, the market will be worth $4bn.

Report: meat substitutes market already worth $4 billion

According to a new report from researcher Visiongain, the global meat substitutes market has experienced rapid growth in recent years. Visiongain predicts that, in 2017, the market will be worth $4bn. Meat substitutes are, it believes, part of the wider free-from trend, which is driven by increasing concerns about meta consumption, and the health and wellness trend.

The growing global population is also a significant driver of the market, say the researchers, who note that the UN projections show that by 2050, the global population will reach 8.9 billion people, increasing by 47% since 2000.

In this light, says Visiongain, alternative sources of protein such as meat substitutes become an important factor in sustainable development. Considering that raising livestock requires a lot of water, land and animal feed, the company points out, as well as producing a lot of waste, plant-based proteins are becoming a tool, which can potentially help to solve these problems.

The meat alternatives market is, Visiongain says, relatively small today, but all the factors analysed in the report are said to illustrate that the industry will exhibit significant growth in the next ten years, providing excellent commercial opportunities.

The report includes coverage of, and forecasts for, textured vegetable protein (tvp) meat substitutes; mycoprotein (quorn) meat substitutes; pea protein meat substitutes; tofu meat substitutes; seitan meat substitutes; and other meat substitutes. Forecasts are also included by region.

It also contains profiles of the companies Visiongain believe are significant in the sector, including Amy's Kitchen, Atlantic Natural Foods, Beyond Meat, Blue Chip Group, Fry Group Foods, Hain Celestial, Kellogg Company, MGP Ingredients, Monde Nissin and Pinnacle Foods.