The meat substitute ingredients market estimated to cross US$ 4,017.43 million by 2030 | Study covers regional and segmental analysis
Rising Demand for Plant-Based Meat Drives Meat Substitute Ingredients Market
According to the latest market study on "Meat Substitute Ingredients Market Forecast to 2030 – Global Analysis – by Source, Ingredient Type, Application, and Geography," the global 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 report highlights key factors driving the market growth and prominent players along with their developments in the market.
Meat substitute ingredients include soy, peas, chickpeas, potato, mycoprotein, fava beans, and wheat. These ingredients are rich sources of protein that result in the authentic meaty texture of the finished product. Soy produces textured soy protein, tempeh, and tofu, whereas peas are the primary pea protein source. Similarly, wheat is a significant source of seitan. Patties, nuggets, sausages, and meatballs are a few of the common applications of the meat substitute ingredients market. Consumers are highly inclined toward plant-based or vegan-friendly products owing to increased health concerns and rising awareness regarding animal welfare. The rising health consciousness among people owing to the increasing prevalence of obesity, diabetes, and other diseases is compelling people to change their dietary habits. People generally perceive plant-based products to be healthier than the conventional ones. Thus, rising demand for plant-based meat is significantly contributing to the growing meat substitute ingredients market size.
Global Meat Substitute Ingredients Market Breakdown – by Region
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Consumers across the globe are adopting a vegan lifestyle owing to increasing health concerns and rising awareness about environmental sustainability. Over the past few years, awareness regarding environmental sustainability has increased significantly. Climate change has affected the earth's natural ecosystems and posed a significant threat to the well-being of people. Global population growth and urbanization are the primary causes of natural resource depletion, including water, fossil fuels, and land, contributing to global warming. Due to the rising global population, the demand for food is also increasing. People are heavily reliant on animal sources to meet their nutritional requirements. This factor has exerted high pressure on the livestock industry.
The livestock industry is one of the key contributors to anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the worldwide livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. According to industry experts, livestock production emits more carbon dioxide than the whole transportation industry combined. As per the Good Food Institute, plant-based meat has 30–90% less greenhouse gas emissions (kg-CO2-eq/kg-meat) than conventional meat. Due to the rising awareness regarding the negative impacts of the meat and livestock industry on the environment, consumers are rapidly switching to plant-based food products. Thus, the increasing preference for plant-based food drives the demand for ingredients used to make plant-based food, such as tofu, soy protein, tempeh, and pea protein, thereby driving the meat substitute ingredients market growth.
In 2022, Europe accounted for nearly 38% of the meat substitute ingredients market share. The meat substitute ingredients market in Europe is significantly growing owing to the considerable demand for plant-based meat products in countries such as Germany, France, Spain, and the UK. The increasing health consciousness and the rising trend of veganism have made Europe a significant market for meat substitute ingredients.
According to the Good Food Institute (GFI), plant-based meat sales alone accounted for US$ 2.1 billion in 2022—up 19% compared with 2020. Similarly, according to "The Smart Protein Project report," the sales value of plant-based food in Germany grew by 97% during 2018–2020, while the sales volume increased by 80%. Moreover, consumers are highly inclined toward plant-based meat products due to rising awareness of animal welfare and environmental sustainability. Owing to all these factors, the meat substitute ingredients market across Europe is witnessing massive growth.
The meat substitute ingredients manufacturers are also facing several challenges related to off-flavors and notes associated with soy, almonds, and peas. Flavor, aroma, and taste are the key aspects of food products that attract consumers and aid in creating new products. Despite the proven health benefits and high nutritional values associated with plant proteins such as soy and pea proteins, their direct utilization in food products is impossible owing to the off flavors, bad taste, and aroma. The oxidative deterioration of unsaturated fatty acids is recognized as the most important contributor to the off-flavor of soy protein. Additionally, the presence of isoflavones in soy protein elicits bitter and astringent responses in the oral cavity.
The raw peas contain a typical beany flavor generally associated with aldehyde molecules, mainly hexanal, which is responsible for the undesirable aroma of pea proteins. Thus, plant-based proteins contain undesirable beany, bitter, and earthy flavors. Before infusing meaty flavor into plant protein, it is necessary to mask off these undesirable flavors to ensure there is a clean slate for further flavoring. Also, to improve the flavor of plant-based ingredients, the high level of sodium is used as a flavor enhancer, which makes the taste of ingredients bitter and salty. Thus, the challenges associated with flavors of plant-based proteins hamper the meat substitute ingredients market growth.
Based on source, the meat substitute ingredients market is segmented into soy, wheat, pea, mycoprotein, and others. In terms of revenue, the soy segment dominated the meat substitute ingredients market share in 2022, whereas the mycoprotein segment is expected to register the fastest CAGR from 2022 to 2030. Soy is a species of legume native to the Asian region, widely grown for its edible bean, which has numerous uses. Tofu, tempeh, and soy protein as textured vegetable protein, isolates, and concentrates are the key meat substitute ingredients made from soy. Soy contains ~30% of protein and significant amounts of phytic acid, dietary minerals, and B vitamins. Soy is one of the cheap sources of protein. According to the US Food and Drug Administration (FDA), soy is a good source of protein for the vegan and vegetarian population or for people who want to reduce the amount of meat they consume. Thus, the demand for soy is high among meat substitute ingredient manufacturers.
Crespel & Deiters GmbH & Co KG, SOTEXPRO SA, DuPont de Nemours Inc, Ingredion Inc, Wilmar International Ltd, Archer-Daniels-Midland Co, Axiom Foods Inc, Kerry Group Plc, Roquette Freres SA, and The Scoular Co are among the key players operating in the global meat substitute ingredients market.
The "Global Meat Substitute Ingredients Market Analysis and Forecast to 2030" is a specialized and in-depth study of the food & beverages industry, focusing on the global meat substitute ingredients market trend analysis. The meat substitute ingredients market report aims to provide an overview of the market with detailed market segmentation. The market is segmented on the basis of source, ingredient type, application, and geography. Based on source, the market is segmented into soy, wheat, pea, mycoprotein, and others. By ingredient type, the market is divided into soy protein, pea protein, tempeh, tofu, seitan, and others. By application, the market is segmented into patties, nuggets, sausages, meatballs, and others. Geographically, the scope of the meat substitute ingredients market report is primarily divided into North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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