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NORTH AMERICA MEAT SUBSTITUTE MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America Meat Substitute Market by Product Type (Tofu-based, Tempeh-based, TVP-based, Seitan-based, Quorn-based, Other Product Types) Market by Category (Frozen, Refrigerated, Shelf Stable) Market by Source (Soy-based, Wheat-based, Mycoprotein, Other Sources) by Geography


MARKET OVERVIEW

The North America meat substitute market is expected to record a CAGR of 12.45% during the forecast period, 2023-2032, and is set to reach a revenue of $xx million by 2032.

North America’s meat substitute market growth is mainly driven by shifting consumer preferences and the rising health-conscious population. Also, the region is a major consumer of meat-based products.

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The North America meat substitute market growth analysis includes the assessment of the United States and Canada. In the United States, the market growth is propelled by rising concerns over increased meat consumption and the associated health risks. Also, consumers are increasingly aware of the environmental impact of industrial meat production and the biodiversity imbalance. In addition, concerns over foodborne illness outbreaks, industrial meat scandals, and animal welfare are encouraging consumers to switch to meat substitutes. Moreover, the United States is a leading soybean producer globally.

Furthermore, recent dietary and health trends project the athletes’ and millennials’ interest in meat-alternative substitutes. Besides, environmentalists are pushing for greener alternatives for those who consume meat. This includes lab-grown meat. 

Besides, the growing vegan population further boosts the demand for meat substitutes. Additionally, several restaurants in the US are adopting meat alternatives like seitan, tempeh, and tofu in their meals. Such factors drive market growth in North America. 

The North America meat substitute market segmentation includes category, source, and product type. The product type segment includes seitan-based, tempeh-based, tofu-based, Quorn-based, TVP-based, and other product types.

The rising vegan population and the increasing health consciousness fuel the demand for tofu-based products in the meat substitute market. Tofu-based products are gaining popularity due to characteristics like no-cholesterol and gluten-free and the presence of calcium, protein, iron, and other micronutrients. Also, they are easily digestible with high nutritional value. 

In addition, tofu-based products have growing applications in several cuisines in developing nations due to their economic feasibility. Their increasing popularity as a meat substitute is attributed to their high micronutrient and protein content. Accordingly, many market players are launching tofu-based meat substitute products in developed markets like Europe and North America. 

Tempeh-based products have high protein content and are majorly used in stir-fries in Asian dishes. These can be baked, fried, or consumed directly. They are a good source of vitamin B2, protein, fiber, copper, and manganese. The growing demand for probiotic, traditional, savory, and ethically sourced foods offers growth opportunities for tempeh-based products. 

In developed countries like the United Kingdom, an increasing number of people are shifting to veganism, majorly propelled by environmental concerns. In addition, there is a rising number of startups with regard to protein alternatives and they are more consumer-driven than major food companies. Such aspects benefit the tempeh-based product type segment. 

The other product types segment includes products prepared from mushrooms, lentils, rice, pea, and other ingredients. Peas, lentils, and beans are protein-rich meat substitutes with varying uses ranging from sausages to soups. Prominent players like Beyond Meat offer a vast range of meat substitutes prepared from pea proteins. 

Some of the leading firms in the North America meat substitute market include Shandong Jianyuan Group, The Nisshin OilliO Group Ltd, A&B Ingredients, Beneo, etc.

A&B Ingredients offers clean-label and natural ingredient solutions to the food & beverage industry, focusing on shelf life extension, food safety, and health & nutrition. The company has created a unique combination of application proficiency, product development skills, and technologies through collaboration with suppliers and customers. Its microbiological testing, application labs, pilot plant, and technical resources have made it a leader in unique ingredients for vast applications. The company is headquartered in Fairfield, New Jersey, the United States. 

One of its key products, Textured Pea Protein, is an innovative solution to create nutritionally rich products with enhanced texture. The textured pea protein simulates the mouthfeel and texture of meat once rehydrated. 

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Product type, Category, Source
Countries AnalyzedThe United States and Canada
Companies AnalyzedDuPont, ADM, Kerry Group, Ingredion Incorporated, Roquette Freres, Puris, Cargill, Axiom Foods, Sonic Biochem Limited, Crespel and Deiters, Wilmar International Limited, Shandong Jianyuan Group, The Nisshin OilliO Group Ltd, A&B Ingredients, Beneo

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. GROWING DEMAND FOR PLANT-BASED PROTEINS
      2. RISING HEALTH CONSCIOUSNESS 
      3. INCREASING OBESE POPULATION
      4. PRODUCT RESEARCH AND INNOVATIONS
    2. KEY RESTRAINTS
      1. DIVERSE AVAILABILITY OF SUBSTITUTES
      2. HIGH COSTS 
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON MEAT SUBSTITUTE MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
    7. REGULATORY FRAMEWORK
  5. MARKET BY PRODUCT TYPE
    1. TOFU-BASED
    2. TEMPEH-BASED
    3. TVP-BASED
    4. SEITAN-BASED
    5. QUORN-BASED
    6. OTHER PRODUCT TYPES
  6. MARKET BY CATEGORY
    1. FROZEN
    2. REFRIGERATED 
    3. SHELF STABLE
  7. MARKET BY SOURCE
    1. SOY-BASED 
    2. WHEAT-BASED
    3. MYCOPROTEIN
    4. OTHER SOURCES
  8. GEOGRAPHICAL ANALYSIS 
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. UNITED STATES
        2. CANADA
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. A&B INGREDIENTS 
      2. ADM 
      3. AXIOM FOODS 
      4. BENEO 
      5. CARGILL 
      6. CRESPEL AND DEITERS 
      7. DUPONT 
      8. INGREDION INCORPORATED 
      9. KERRY GROUP 
      10. PURIS 
      11. ROQUETTE FRERES 
      12. SHANDONG JIANYUAN GROUP 
      13. SONIC BIOCHEM LIMITED 
      14. THE NISSHIN OILLIO GROUP LTD
      15. WILMAR INTERNATIONAL LIMITED 

LIST OF TABLES

TABLE 1:  MARKET SNAPSHOT – MEAT SUBSTITUTE

TABLE 2:  REGULATORY FRAMEWORK

TABLE 3:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 5:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY CATEGORY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 7:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SOURCE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SOURCE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 9:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 11:  LEADING PLAYERS OPERATING IN NORTH AMERICA MEAT SUBSTITUTE MARKET

TABLE 12:  LIST OF MERGERS & ACQUISITIONS

TABLE 13:  LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 14:  LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 15:  LIST OF BUSINESS EXPANSIONS & DIVESTITURES

 

LIST OF FIGURES 

FIGURE 1:  KEY MARKET TRENDS

FIGURE 2:  PORTER’S FIVE FORCES ANALYSIS

FIGURE 3:  OPPORTUNITY MATRIX

FIGURE 4:  VENDOR LANDSCAPE

FIGURE 5:  KEY BUYING CRITERIA

FIGURE 6:  NORTH AMERICA MEAT SUBSTITUTE MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022

FIGURE 7:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY TOFU-BASED, 2023-2032 (IN $ MILLION)

FIGURE 8:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY TEMPEH-BASED, 2023-2032 (IN $ MILLION)

FIGURE 9:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY TVP-BASED, 2023-2032 (IN $ MILLION)

FIGURE 10:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SEITAN-BASED, 2023-2032 (IN $ MILLION)

FIGURE 11:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY QUORN-BASED, 2023-2032 (IN $ MILLION)

FIGURE 12:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY OTHER PRODUCT TYPES, 2023-2032 (IN $ MILLION)

FIGURE 13:  NORTH AMERICA MEAT SUBSTITUTE MARKET, GROWTH POTENTIAL, BY CATEGORY, IN 2022 

FIGURE 14:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY FROZEN, 2023-2032 (IN $ MILLION)

FIGURE 15:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY REFRIGERATED, 2023-2032 (IN $ MILLION)

FIGURE 16:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SHELF STABLE , 2023-2032 (IN $ MILLION)

FIGURE 17:  NORTH AMERICA MEAT SUBSTITUTE MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2022 

FIGURE 18:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY SOY-BASED, 2023-2032 (IN $ MILLION)

FIGURE 19:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY WHEAT-BASED, 2023-2032 (IN $ MILLION)

FIGURE 20:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY MYCOPROTEIN, 2023-2032 (IN $ MILLION)

FIGURE 21:  NORTH AMERICA MEAT SUBSTITUTE MARKET, BY OTHER SOURCES, 2023-2032 (IN $ MILLION)

FIGURE 22:  NORTH AMERICA MEAT SUBSTITUTE MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23:  UNITED STATES MEAT SUBSTITUTE MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24:  CANADA MEAT SUBSTITUTE MARKET, 2023-2032 (IN $ MILLION)

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