Global Meat Alternative Market Size, Share & Trends Analysis Report, By Source (Plant-based Protein, Mycoprotein), By Distribution Channel (Foodservice, Retail) By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024-2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Table of Contents
  • Segmentation
  • Methodology
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Global Meat Alternative Market was valued at US $ 5,477.7 million in 2023 and is expected to reach US $ 11,230.1 million by 2032 growing at a CAGR of 7.6 % during the forecast period 2024 – 2032.

The world crisis occasioned by the catastrophic global Covid-19 event has caused an unexpected demand for meat alternatives that exceeds the preceding periods of pre-pandemic situation in each area. In analysis, global market grew by 6.6% in comparison with year 2019.

These include flavour, textural structure and shape properties that may be similar or distinct from traditional meat. To start with, these products had the main reason of minimizing dependability and consumption of meat alternatives. These consist of several other kinds of stuffs. The components consist of staple materials such as wheat, soy, and many types of pulse. The first step is that there are many substitutes for such meats, which are believed to be eco-friendly and healthy.

Plant-based substitutions are commonly used to reduce the dependence on animals for meat. It also curbs carbon emission and prevents killing of animals. Therefore, most meat industry leaders like Tyson foods and JBS SA have a separate section of their products that are used in developing vegetation based alternative protein sources.

The Meat Alternative Trend Analysis

The market growth will be impacted by increasing adoption of vegan and vegetarian diet.

One of these growing consumer trends towards more healthy diets is veganism, which has started gaining popularity around the world. Since vegans are totally reliant upon protein derived plant products, its demand among these consumers is quite high. The Economist statistics indicate that there was a rise from 0.4% to 3.5% vegans in 2021 in America. Additionally, an increase in vegans worldwide should sustain market growth in its upward trend.

Meat substitutes come packaged in new ways and have carbon labelling on which consumers can read how their diet impacts their surrounding environment. In June 2022, some retailers like Tesco took efforts to introduce carbon branding on food products and inform buyers of their foods. These initiatives promote consumers’ buying of food with a good environmental status.

Consumers’ rising preference for plant-based protein food will act as driving force behind market expansion.

The global consumer culinary shifts. People now understand that the theory of healthy food consumption should not be based solely on quality, but also with quantity. Consumer has a tendency of taking much protein so as to stay fit and healthy. Thus, they eat vegetable protein based products so that they can ensure healthy eating habits.

Therefore, some people opt for the use of such substitute proteins like the meat substitutes. Moreover, consumer knows or considers the harm that these animals’ farms do and its influence on the nature. This has resulted into vegetarian and flexitarian diets becoming common among people who desire to reduce emissions or limit meat consumption indirectly.

This is a recent pandemic and what the health risks are, which in turn will emphasise on a good diet that would suit today’s time. Fears over the connection between livestock keeping, environmental concerns, and dietary issues remain to get stronger. Therefore, it is anticipated that there will be increased consumer demand for the organic alternatives and ecological meat product substitutes.

Nevertheless, the growth in the market will take place as a result of favourable environmental conditions and health advantages of using food made from plant proteins.

Red meat consumption is associated with several risks. Heart disorders, diabetes, some cancers among others are associated with red meat. Hence, health conscious customers go for alternative protein sources than red meat like the deflated soya chunks, Tempehs, etc which have a resemblance to meat proteins. There would be a substantial improvement in consumer quality of life and there might be a reduction in the risk of obesity and related diseases.

Accordingly, it remains the primary agent of global warming. According to FAO, 14.5 percent of all global greenhouse’s gasses originate from animal husbandry. Also, animal ranches are responsible for this pollution because they call for extra supplies and thus necessitate more investment. Fresh water and massive acreage are vital in cattle ranching. Alternative meats, mock meats, and plant based meats are among them and they result in emitting lesser amount of greenhouse gas and they take minimal amounts of natural resources. Therefore, they are more environmentally friendly proteins sources than their counterparts of animal origins. It is among the most important elements, and as a result of this customers are going for organic meat products with their markets growing in size.

Segmentation Analysis of the Meat Alternative Market

By Source Analysis

Plant-based protein segment projected to dominate the market with ~62.32% share of overall market revenue in 2022. For example, there are some lack of meat foods in various parts of the world, concerns on health and environment as well as balanced lifestyle. Examples of daily intake protein foods include plant based patties, hummus, and tofu like substance. The other growth engine of the global plant protein market is the wellness community that comprises mainly affluent young people. Products which taste like meat, but have no meat constituents and only contain plant or mycoprotein derivatives are in question.

It makes plant-isolated protein useful as hydrolysis facilitates its activity in plants. Nonetheless, many of the proteins that are available have added components such as flour, food adhesives, and biomass oils among others. These ingredients make them suitable for use as cheap and plentiful protein inputs as plant based meats are developed. Plants-based meat substitutes dominate the segment accounting for a large share in the category. Nonetheless, the highest CAGR value of 44.8% is forecasted for mycoprotein segment during this timeframe. Consumers prefer mycoproteins as they have a greater nutritional value comprising fibres that serve to normalize blood sugar level, as well as high levels of cholesterol.

Unlike certain animal proteins such as chicken, mycoprotein also leaves one feeling satisfied. Avoid extra fat and get weight. It is also different from most of the protein sources since it contains all the essential amino acids. The brand of mycoprotein, called Quorn is a great food alternative to those who seek delicious snacks that are healthy. Substitutes like cottage cheese, soy chunks, and mushrooms among others have been traditionally confined to these choices and they cannot find alternative uses. To start with, recent jackfruit becomes more and more fashionable due to its distinct taste from other fruity substances preferred by contemporary eaters of good food. It is also referred to as a supe food, which is quite popular name for healthy foods and other products with special proprieties.

Distribution Channel Insights

The retail sector was the highest revenue contributor in 2022 at 66.06%. It covers all other types of retail facilities such as department stores, small convenience store, and micro market, and other hypermarket. Such is why shoppers with large deals love this type of shopping. In addition, many brands also market their products in mega supermarkets like Walmart and Target to make it easy for most people to reach such goods. Regarding this, the highest CAGR of 44.0% will be observed among the foodservice sector during the period of 2021-2030.qpoint 57 First, there are places such as hotels, restaurants and others.

Worldwide lockdowns and shutdowns because of COVID-19 pandemic level outbreaks. As a result, there are reduced sales through these channels. This would lead to skyrocketing in their sales especially for clubs that would start receiving tourists and a rise in social visits. The growing need for novelty and flexibility in the international menu selection are the main driving factors for it. Consumers are satisfied with options where tailor made foods have become common place to suit liking, affordability and dietary requirements.

The increasing number of plant-protein products in stores and plant-protein menu innovations in the restaurant industry show the growing demand for plant proteins. Newly created branded plant protein products namely, flexitarian, non-vegetarian flexitarian, vegetarian lattices and burgers etc. are being welcomed by the consumers around the globe. In two ways, consumers benefit from the manufacturers' zealous response to the trend: As they become cheaper and more available, such plant-based protein products are penetrating even further in specialty retail, general supermarkets, and food services.

Regional Analysis of the Meat Alternative Market

In 2022, Europe made the largest contribution on the worldwide market with revenue share of 39.6%. The region’s rising demand can be attributed to both young and even older consumers. This mainly arises from growing concern about pet welfare as well as growth in the number of vegans and flexitarians. A decade ago, meat alternatives were practically nonexistent in Germany. Germans however use vegetable protein more than the Americans and that is because of the arrival of big manufacturing companies like for example Nestle. McDonald’s-Nestlé’s collaboration did not take place by accident when introducing a new vegan burger in Germany.

In 2022, North America was second, with a 33.8% share of total revenue. Livestock products are the key source of daily proteins for most people in this area. There has been a significant shift in consumer attitudes towards plant-based diets and sustainability. More people are switching to flexitarian, vegetarian or even vegan diets for consumption of better healthier foods which are also eco-friendly in parts of North America. Consumers’ demands are driving the market growth. Many consumers, who are healthier eaters have embraced alternatives to conventional meat products.

Plant-based protein substitutes for meat are usually lower in saturated fat and cholesterol compared to animal meat. They are also a great source of fibre, as well as several different kinds of vitamins and minerals that may provide extra health benefits. According to the International Food Information Council’s survey, about 65% of the respondents stated that they ate plant- based products equivalent in taste and texture to animal proteins. Notably, slightly more than one-fifth (22%) stated that they ate these products daily while another fifth (19%) reported doing so weekly.

The fastest growing market has been predicted as Asia-pacific with a CAGR of 48.6% in between 2023 and 2030. The region has major players like China and Australia. There has been a rise in consumption of such products in these countries through the power of the social media and increased health awareness. As a result of the trend moving towards eating plant-based foods rather than animal proteins, the popularity of plant-based alternatives has significantly grown. Over time, access to quality vegetarian and vegan ingredients used to be limited, forcing manufacturers into using harmful and difficult additives.

In response to COVID-19 concerns on food safety, health, and environment, a significant proportion of Asian consumers has voluntarily adopted healthier/sustainable lifestyles. Without a shadow of doubt there exists great prospects in the Asian region for the provision of interesting new food options which are guaranteed preferred by customers solely by the natural preference principle. ADMS started plant based innovative lab in April and opened BioPolis in Singapore. The region is witnessing increased demand for food and beverage hence this initiative is meant to meet it. The laboratory’s main goal is to produce innovative, stylish and nutritious products.

COVID-19 Impact Analysis on Meat Alternative Market.

The demand for healthy vegetarian meat substitutes stimulated market growth.

Similarly, it has heightened susceptibility to global food insecurity within the less-developed countries as a result of disruptive supply chains during the pandemic crisis of Covid-19. Due to COVID-19 pandemic lock downs, there was an interference on the manufacture of processed foods hence affecting their supply chains (access to input such as soy, pea etc).

The plant-based meats substitute industry also had labour shortage and interruptions of the transporting chain like other industries in food processing due to the COVID-19.ICENSE: The labor scarcity had direct implications on input delivery as well as output in the manufacturing sector. As the differences in regional closure policy, also affected the overall shipments and increased costs of logistics across the United States.

Consumers took an entirely new position on their purchasing behaviors although they were using internet channels prior to the pandemic. This led more people into purchasing food through online shopping sites, supermarkets, etcetera. In the wake of this, there was an alteration in the distribution channels and companies saw an urgent need for improvement by investing in e-commerce which was critical for enhancing customers’ buying experience.

Top Key Players Covered

  1. Amy’s Kitchen, Inc.
  2. Beyond Meat
  3. Impossible Foods Inc.
  4. Quorn Foods
  5. Kellogg Co.
  6. Unilever
  7. Meatless B.V.
  8. VBites Foods Ltd.
  9. SunFed
  10. Tyson Foods, Inc

Key Industry Developments in the Meat Alternative Market

  • In April, 2022 Kelogs, entered into a supply agreement with a company called “Benson Hill” whose plant based raw materials are critical inputs for production of alternatively produced animal products. Moreover, partnership was signed with Morningstar Farms, a Kellogg’s owned brand that provides soymilk used in making fake meat.For instance, Tyson informed its shareholders in November 2021 about coming of its Raised & Rooted brand on
  • McDonald’s Corporation and Beyond Meat, Inc. entered into a three year cooperative arrangement on February 2022. The agreement stated that Beyond Meat, Inc. would be the only supplier authorized for a unique line of meatless burger pattie brand “McPlant.”
  • The Conagra brand Gardein invested heavily in July 2019 to increase production of plant based meat. It set aside the sum of 16.1 million US dollars towards construction of two more production lines.
  • However, it should be noted that Nestle released the new vegetable burger called “raw cook” in April 2019. As such, this stage has become referred to as a major milestone for the company towards venturing into the protein sector. Consequently, the need for real holiday vegetable food is on the rise.

Report Components Details
Base Year 2022
Forecast Period 2021 -2030
Quantitative Units Revenue in US $
Drivers Increasing Demand for Plant-based Protein Foods to Drive Market Growth
Segments Covered Source Outlook: Plant-based Protein, Mycoprotein, Soy-based, Others Distribution Channel Outlook: Foodservice, Retail

Table of Contents

  1. Introduction Of Global Meat Alternative Market
    1. Overview of the Market
    2. Scope of Report
    3. Assumptions
  2. Executive Summary
  3. Research Methodology
    1. Data Mining
    2. Validation
    3. Primary Interviews
    4. List of Data Sources
  4. Global Meat Alternative Market Outlook
    1. Overview
    2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
    4. Value Chain Analysis
  5. Global Meat Alternative Market, By Source
    1. Overview
    2. Plant-based Protein
    3. Mycoprotein
  6. Global Meat Alternative Market, By Distribution Channel
    1. Overview
    2. Foodservice
    3. Retail
  7. Global Meat Alternative Market By Region
    1. North America
      1. U.S.
      2. Canada
    2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
    3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
    4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
  8. Company Profiles
    1. Amy’s Kitchen, Inc.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    2. Beyond Meat
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    3. Impossible Foods Inc.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    4. Quorn Foods
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    5. Kellogg Co.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    6. Unilever
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    7. Meatless B.V.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    8. VBites Foods Ltd.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    9. SunFed
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    10. Tyson Foods, Inc
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News

Global Meat Alternative Market Segmentation

Meat Alternative by Source: Market Size & Forecast 2024-2032

  • Plant-based Protein
  • Mycoprotein
  • Soy-based
  • Others

Meat Alternative by Distribution Channel: Market Size & Forecast 2024-2032

  • Foodservice
  • Retail

Meat Alternative by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • Amy’s Kitchen, Inc.
  • Beyond Meat
  • Impossible Foods Inc.
  • Quorn Foods
  • Kellogg Co.
  • Unilever
  • Meatless B.V.
  • VBites Foods Ltd.
  • SunFed
  • Tyson Foods, Inc

Frequently Asked Questions


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