Opportunities in the Global Meat Substitutes Sector 2024

The global meat substitutes sector was valued at $8 billion in 2023 and is projected to reach $11.4 billion in 2028, at a CAGR of 7.4%. The sector’s volumes reached 0.55 billion kg in 2023 and are forecast to register a CAGR of 3.3% over 2023-28. In 2023, soy-based was the largest category in terms of value and volume. Rising concerns about obesity, climate change, and animal cruelty will fuel the sector’s growth. The top five companies in the global meat substitutes sector amassed a combined value share of 27% in 2023. The sector was led by Monde Nissin, which held a value share of 8.2%, followed by Kellogg’s Company, with 7.9%. Conagra Brands, Morinaga Milk Industry, and Topas were among the other leading companies. Private labels amassed a value share of 0.8%.

Key Highlights

• Manufacturers and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the meat substitutes sector.
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances.
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion.
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global meat substitutes sector, analyzing data from 108 countries. It includes analysis of the following:

• Sector overview: Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions - Asia-Pacific, Middle East and Africa (MEA), the Americas, Western Europe, and Eastern Europe - highlighting sector size, growth factors, the latest developments, and future challenges for each region.
• Change in consumption: Provides an overview of consumption changes in the meat substitutes sector over 2018-28 at global and regional levels.
• High-potential countries: Provides risk-reward analysis of the top high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure.
• Country and regional analysis: Provides a deep-dive analysis of 10 high-potential countries covering value growth during 2023-28 and key trends. It also includes regional analysis covering the future outlook for each region.
• Competitive environment and brand shares: Provides an overview of the leading companies and brands at global and regional levels. Market shares of brands and private labels in each region are also detailed.
• Key distribution channels: Provides an analysis of the leading distribution channels in the global meat substitutes sector in 2023. It covers hypermarkets & supermarkets, convenience stores, food & drinks specialists, e-retailers, cash & carries and warehouse clubs, department stores, and other channels.
• Packaging analysis: The report provides percentage share (in 2023) and growth rate analysis (during 2018-28) for various pack materials, pack types, closures, and primary outer types based on volume sales of meat substitutes.

Reasons to Buy

• Manufacturers and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the meat substitutes sector.
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances.
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion.
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.