Increase in Health Consciousness Crucial for Global Meat Substitute Market Growth

Meat Substitute Market

As per Inkwood Research, the Global Meat Substitute Market is projected to register a CAGR of 14.00% in terms of revenue during the forecasting period of 2023-2032.

“Browse 52 Market Data Tables and 41 Figures spread over 140 Pages, along with an in-depth TOC on the Global Meat Substitute Market Forecast 2023-2032.”

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Meat substitutes entail food products made from vegan or vegetarian ingredients. They typically mimic the flavor, mouthfeel, appearance, as well as chemical properties of specific meat types.

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Rise in Health Consciousness to Propel Global Market Growth

Meat substitutes are becoming increasingly prevalent on account of the numerous health benefits associated with them. Accordingly, the awareness surrounding the health benefits of soy-based foods among individuals is on the rise, primarily owing to the low calories they constitute.

Similarly, other meat alternatives, such as wheat, are also suitable for adequate nutrient intake. This is mainly accredited to the fact that wheat protein is advantageous for muscle growth due to its rich protein content, in addition to low fat as well as calories. Therefore, the rise in health consciousness is expected to augment the global meat substitute market growth during the forecast period.

TVP-Based: Dominating Product Type by 2032

TVP-based products have a wide range of uses, and are available in the global meat substitute market in various forms. In addition to being a healthy alternative since they are cholesterol-free and high in protein, TVP-based products can also be applied to several food processes and procedures.

Europe is a Prominent Region in the Global Meat Substitute Market

The meat substitute market in Europe is set to register significant growth due to the rising awareness about the importance of improving health conditions, coupled with the need to inculcate sustainable habits. Furthermore, the United Kingdom is expected to register the highest growth in Europe on account of the surge in demand for protein-rich and high-fiber meals.

The global market is moderately competitive due to the reduced number of small as well as medium-scale regional and international players. Some of the leading companies operating in the global meat substitute market are ADM, Kerry Group, DuPont, etc.

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