The meat substitute ingredients market size was valued at US$ 2,186.83 million in 2022 and is projected to reach US$ 4,017.43 million by 2030; it is expected to register a CAGR of 7.9% during 2022-2030.

The main sources of ingredients to manufacture meat substitute products are soy, pea, wheat, mycoprotein, fava beans, moong, and others. These ingredients resemble the texture and tenderness of animal-based meat. Therefore, they are witnessing immense demand among the manufacturers of plant-based meat products. This factor is significantly driving the meat substitute ingredients market growth.

Global meat substitute ingredients manufacturers are investing significantly in strategic development initiatives such as product innovation, merger & acquisition, and expansion of their businesses to attract consumers and enhance their market position. Moreover, the demand for meat substitute ingredients is increasing among plant-based meat product manufacturers due to the growing trend of veganism and increasing preference for plant-based food. Thus, key manufacturers are launching various meat substitute ingredients to cater to the increasing demand. For instance, in June 2021, Axiom Foods launched a new pea protein, made from Pisum sativum yellow peas, that is majorly used as a meat replacement and a meat extender in various plant-based meat products. Similarly, in November 2022, International Flavors & Fragrances Inc (IFF) launched Supro Tex-a soy-based plant protein ingredient. The ingredient contains 80% protein, giving it a profile comparable to animal meat. Such product launches by key market players drive the growth of the meat substitute ingredients market.

Major manufacturers are employing strategies such as acquisition, expansion, and production capacity scaleup to serve their customers better and satisfy their growing demands. For instance, in April 2022, Ingredion expanded its production capacity by setting new production plant at Vanscoy, Canada, through the acquisition of Verdient Foods. This acquisition increases the company's production capacity to produce plant-based protein solutions. Thus, such strategic development initiatives by key market players help companies extend their domestic reach and gain a competitive edge in international markets.

The US meat substitute ingredients market is growing at a rapid pace owing to rising veganism trend and increased empathy toward animals. In the US, consumers are becoming more aware of the importance of a plant-based healthy diet due to the high prevalence of diabetes and obesity. Plant-based meat has a low-fat content and is rich in fiber and protein, which reduces cholesterol levels and blood pressure. According to the Plant-Based Food Association (PBFA), consumer demand increased last year: 19% of households purchased plant-based meat in 2021-increased from 18% in 2020-and an impressive 64% of those buyers purchased it multiple times throughout the year. Owing to this shift among the consumers, the leading as well as start-up food manufacturers in the region are innovating rapidly in the meat alternative market. Thus, the demand for meat substitute ingredients such as pea protein, mycoprotein, and texturized soy protein is increasing across the country.

In the US, the federal government continued to perform and fund research on plant-based proteins through the US Department of Agriculture's National Institute of Food and Agriculture (USDA-NIFA). Progress toward greater uptake of plant-based proteins also continued at the state and local levels, with California allocating US$ 5 million from its 2023 budget for alternative protein R&D, including plant-based protein research, and US$ 100 million to expand plant-based food. Such government initiatives boost the demand for meat substitute products which is expected to drive the meat substitute ingredients market growth across the country.

On the basis of application, the market is segmented into patties, nuggets, sausages, meatballs, and others. The global meat substitute ingredients market share for the patties segment was the largest in 2022 and the nuggets segment is expected to register a higher CAGR from 2022 to 2030. The plant-based meat nuggets have a taste and texture that is similar to meat-based nuggets. Water, wheat flour, soy protein concentrate, vegetable oil (corn, canola, and/or sunflower), and soy protein isolate are among the ingredients used to make plant-based nuggets. The demand for meat substitute food products is surging with the changing eating habits of consumers. The American fast-food chain "Burger King" has introduced plant-based chicken nuggets that are soft and meat-like from the inside and provide a vegetable-based option for people who want to reduce their meat consumption. Such developments by manufacturers are driving the demand for plant-based nuggets.

The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In terms of revenue, Europe dominated the meat substitute ingredients market share, followed by North America and Asia Pacific. In Europe, the UK is one of the fastest growing meat substitute ingredients markets. Due to the rising prevalence of lifestyle diseases in the UK, health-oriented consumers opt for healthy and plant-based meat products. Consumers prefer meat substitute products sourced from soy protein, pea protein, and tempeh, among others. These ingredients mimic the flavor, texture, and taste of conventional meat. According to "Google Trends," veganism was one of the top five search terms on Google in 2019 in the UK and across the globe. Also, in 2021, Brighton was found to be the most vegan-friendly city in the UK. According to the same source, it was also the most popular British city for veganism, followed by Bristol, Bathford, and Norwich.

Various international organizations are undertaking initiatives to spread awareness about the benefits of embracing a plant-based lifestyle on health, animal society, and the environment. Mycoprotein is also significantly used meat substitute ingredients by end-use industries. Marlow Ingredients - UK based mycoprotein manufacturer announced a plan to supply mycoprotein across Europe and then globally in April 2023. Such expansion strategies by manufacturers further boost the market share in the country.

Global Meat Substitute Ingredients Market Breakdown - by Region

The report includes the segmentation of the global meat substitute ingredients market as follows:

The global meat substitute ingredients market is segmented based on type and distribution channel. Based on type, the market is categorized into built-in and freestanding. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.

By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The meat substitute ingredients market in Europe is sub-segmented into Germany, France, the UK, Italy, Sweden, and the Rest of Europe. The Asia Pacific meat substitute ingredients market is further categorized into China, Pakistan, Japan, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.

Contact Us

Contact Person: Sameer Joshi

Phone: +1-646-491-9876

Email Id: sales@premiummarketinsights.com