Market Size of Meat Substitutes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Meat Substitutes Market Analysis
The global gluten-free meat substitutes market is growing at a CAGR of 7.0% during the forecast period (2019-2024).
- The market is driven by the rising consumer awareness on adverse effects associated with the consumption of meat such as increased risk of total mortality, cardiovascular disease, colorectal cancer and type 2 diabetes, in both men and women according to NIH, is leading to a shift toward a vegan diet. In addition, the benefits of cholesterol-free protein, with meat-like texture, is one of the key factors promoting the growth of meat substitute products.
- However, the major challenge in this sector is the high processing cost involved in the production of gluten-free meat substitutes as compared to natural meat, has led to a high price of meat substitute products like tofu and mycoprotein, which is restraining the market growth, especially in low-income regions, like India, Brazil, Africa, etc.
