Meat Substitute Market Report 2025

This Meat Substitute market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The meat substitute market size has grown rapidly in recent years. It will grow from $7.22 billion in 2024 to $8.09 billion in 2025 at a compound annual growth rate (CAGR) of 12%. The growth in the historic period can be attributed to rising awareness about the health risks, growth of vegetarianism and veganism, concerns about the environmental impact of livestock farming, growing awareness and concern over the ethical treatment of animals, increasing high-protein meat alternatives.

The meat substitute market size is expected to see rapid growth in the next few years. It will grow to $12.64 billion in 2029 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to increasing vegan population, increased investment from major food corporations, government policies and incentives promoting sustainable and healthy eating, increasing cholesterol-free protein, and rising meat substitutes. Major trends in the forecast period include innovation in plant-based meat, technological advancements, expansion into new categories, clean label and health-focused products, and development of cultured meat (lab-grown meat).

The growing vegan population is expected to drive the expansion of the meat substitute market. Vegans exclusively consume plant-based foods, avoiding all animal products such as meat, dairy, eggs, and honey, motivated by ethical, environmental, and health reasons. Increasing awareness of the health risks linked to animal products, including heart disease, high cholesterol, and certain cancers, is encouraging more people to adopt vegan diets. Meat substitutes provide tasty, nutritious, and convenient alternatives to traditional meat, supporting individuals in maintaining a vegan lifestyle while highlighting the ethical and environmental benefits of reducing animal product consumption. For example, in January 2024, Vegconomist, a UK-based plant-based and cellular agriculture news outlet, reported that the UK’s vegan population has reached 2.5 million, with 4.7% of adults now following a plant-based diet - a notable increase of 1.1 million individuals from 2023 to 2024.

Major companies in the meat substitute market are focusing on innovative alternatives, such as shredded beef substitutes, to cater to increasing demand for meat alternatives. These products mimic the texture, flavor, and versatility of shredded beef using plant-based ingredients. For example, in May 2024, The Mushroom Meat Company introduced a new shredded beef alternative made from functional mushrooms and whole plants, promising a nutrient-rich, meat-like experience. This innovation aims to transform the alternative protein market, offering consumers a customizable option for their culinary preferences.

In September 2022, House Foods Group, based in Japan, acquired Keystone Natural Holdings, a US company known for tofu and plant-based foods, to strengthen its portfolio and expand in the US market. This acquisition underscores House Foods' commitment to offering value-added tofu and plant-based food products, aligning with the growing consumer demand for plant-based alternatives.

Major companies operating in the meat substitute market are Cargill Incorporated, Nestle S.A., Archer-Daniels-Midland Company (ADM), Unilever PLC, Tyson Foods Inc., Kellogg Company, JBS S.A., DuPont de Nemours Inc., International Flavors & Fragrances Inc., Conagra Brands Inc., Kerry Group, Ingredion Incorporated, Roquette Freres, MorningStar Farms, Hain Celestial Group Inc., Amy's Kitchen, Vital Farms, Impossible Foods Inc., Quorn Foods, Tofurky, Beyond Meat Inc., Field Roast Grain Meat Co. Inc., The Vegetarian Butcher, Lightlife Foods, Gardein International Inc., Gardenburger, Evol Foods.

Europe was the largest region in the meat substitute market in 2024. The regions covered in the meat substitute market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the meat substitute market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A meat substitute, also referred to as a meat alternative or meat analog, mimics the taste, texture, and nutritional profile of meat using non-meat ingredients. It is favored by vegetarians, vegans, and those aiming to cut down on meat consumption due to health, environmental, or ethical considerations.

Types of meat substitutes include tofu, tempeh, seitan, Quorn, and others. Tofu, for instance, is made from soybeans and commonly used in Asian dishes. These substitutes utilize plant-based proteins, mycoprotein, soy, and other sources, available in solid, liquid, refrigerated, shelf-stable, and frozen forms. They are distributed through both off-trade and on-trade channels.

The meat substitutes market research report is one of a series of new reports that provides meat substitutes market statistics, including meat substitutes industry global market size, regional shares, competitors with meat substitutes market share, detailed meat substitutes market segments, market trends, and opportunities, and any further data you may need to thrive in the meat substitutes industry. This meat substitutes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The meat substitute market consists of sales of plant-based meat alternatives, soy-based products, legume-based products, and wheat-based products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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