Stratview Research has launched a report on meat substitutes that describes a surge in demand for plant-based meat products among Millennials globally, coupled with high demand for soy-based meat alternative products.
Meat substitute products include tofu, tempeh, seitan, Quorn, and others. Based on the product type, the meat substitutes market is segmented as soy protein, wheat protein, pea protein, and others. The soy protein segment is expected to be the largest segment during the forecast period due to the high demand for soy-based meat alternative products to pork, beef, and chicken, on account of their high protein content.
The meat substitutes market can also be segmented by type into concentrates, isolates, and textured options. The concentrates segment is expected to be the fastest-growing due to its low price and high protein content.
The market can further be divided into solid and liquid forms. The solid segment is expected to remain the larger segment of the market during the forecast period owing to its ability to preserve the flavour and colour of food products.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing. Awareness of animal welfare, health benefits, cost affordability, and the growing variety of meat substitute products are driving the meat substitutes market in the region, with China and India as the growth engines.
Companies mentioned in the report include:
- Archer Daniels Midland
- DuPont
- Roquette Frères
- Kerry
- Ingredion
- Sotexpro
- Crespel & Deiters
- CHS
- Suedzucker
- MGP Ingredients
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