Meat Substitutes Sales to Sky Rocket Fuelling Market Growth by 2027, States MRFR Report

September 2022, Market Research Future has published a Report on the Global Meat Substitutes MarketOverview

The meat substitutes market is set to grow at a high CAGR during the forecast period 2020 to 2027. As per the market research report, the market will hit USD 8,800 million in terms of valuation by the end of 2027. The market growth will be driven by consumers’ growing inclination towards convenience. Based on the research report, favorable government policies will accelerate growth in the market till 2027. Although the increasing preferences for cheaper alternative solutions will have a negative impact on the global meat substitutes market’s growth during this period. The growing demand for alternatives is predicted to be a key challenge which could become a strong threat from 2020 to 2027 to companies. The market report published by expert analysts includes primary and secondary data and suggests that type, category, and source segments are anticipated to witness tremendous growth till 2027. Factors such as the increasing awareness among consumers will become key growth drivers during the forecast period and the introduction of new products is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by the lack of awareness which could negatively affect activities taking place across the market. The lack of effective communication is another challenge the market could face till 2027.

Market Segmentation

The meat substitutes market is segregated into different market segments based on type, category, and source. For a comprehensive analysis of the market, the type, category, and source segments are further split into smaller segments. The type segment is categorized into seitan, tempeh, tofu & tofu products, and others. Furthermore, based on category, the global market is also segmented into mycoprotein, soy, wheat, and others. Based on the market segmentation analysis, the report covers market forecasts. On the basis of source, the global market is split into sub segments including ambient, refrigerated, frozen, and others. The market based distribution channels into store based and non-store based.

The presence of untapped market opportunities will support the market growth from 2020 to 2027. As per the market research report, the global market for meat substitutes is anticipated to grow at a healthy rate across all the type, category, and source segments. However, the presence of active threats such as concerns regarding side effects could hamper the market growth. Business activities across meat substitutes have also been examined and studied by meat substitutes industry’s experienced analysts. The meat substitute’s market research report covers findings with predictions and forecasts till 2027.

Browse Full Report @ https://www.marketresearchfuture.com/reports/meat-substitutes-market-1969Regional Overview

The meat substitutes market, with its product and service related segments, is spread across the world. Meat substitutes based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. Growing investments across different sectors is anticipated to be a major factor for growth across the meat substitute’s space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The meat substitutes sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Meat substitutes based businesses in these regional markets are anticipated to grow due to a rise in the disposable income during the forecast period 2020 to 2027. Although the market’s growth could be affected by supply and demand gap. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

meat substitutes based organizations are profiled in the market research report. The meat substitutes market along with companies and segments have been studied. The analysis of meat substitutes based business is also done to identify key challenges and strengths of these companies. The global meat substitute’s market research report covers SWOT analysis, Porter’s Five Force analysis of major meat substitute’s related organizations. The strategy and other key details of these companies for the forecast period 2020 to 2027 are covered in the report. The increasing spending power is anticipated to support the market growth as the market is set to grow at a high CAGR and reach a value of USD 8,800 million by 2027.

Industry News 

Unilever is acquiring The Vegetarian Butcher, a meat-substitute business, in order to capitalise on the rising number of customers who are moving away from meat. The Dutch company, run by former dairy farmer Jaap Korteweg, has a loyal following amongst vegans and vegetarians thanks to its exclusive offerings, that include “nochicken” nuggets that have the same “taste and structure” as chicken burgers. Its items are mostly available in healthfood stores and Waitrose in the United Kingdom. Unilever, which includes products like Magnum and Marmite, announced the purchase of The Vegetarian Butcher.