Rising health issues (which includes obesity and diabetes) owing to the excess consumption of meat products, and increasing awareness of environmental impact caused by rearing of animals (for meat consumption) are major factors driving the consumers to shift towards meat substitutes. The emerging trend in the meat substitutes market includes diversification of raw materials used in the making of alternative meat products, primarily shifting from soy and wheat, to recognizable, clean-label ingredients, and high quality protein, which appeals to non-vegans and non-vegetarians.

Segmentation based on product type
The different product types offered in the meat substitutes market include tofu and tofu-based products, tempeh, seitan, textured vegetable protein (TVP) and Quorn.

Segmentation based on source type
The different types of sources from which the meat substitute products are derived include soy, wheat and mycoprotein.
Soy:- The soy segment contributed the largest market share of 48% in 2018,
Wheat:- Wheat is expected to expand at a CAGR of 7.7% during 2018-2023,
Mycoprotein:- The mycoprotein segment is expected to expand at the CAGR of 7.8% during 2018-2023,

Regional insights
The meat substitutes market in Europe is expected to expand at the highest CAGR of 9.3% during the 2018-2023 period, as this market is driven by the rise in health-conscious consumers due to the growing incidences of diseases and conditions such as diabetes, high blood pressure, and constipation coupled with the trend of flexitarian lifestyle that has been fueling the market for meat substitutes. The North American meat substitutes market is expected to expand at a CAGR of 5.9% during the forecast period, which is driven by the presence of innovative startups like Meatless B.V, Beyond Meat, and Next Level Burgers that offer a wide range of alternatives to meat, and satiate the taste buds of not only vegan consumers, but to non-vegetarians as well. In 2018, the Asia-Pacific region which contributed USD 0.8 Bn in the total meat substitutes market, is driven by industrial growth and improvements in the food industry, providing new opportunities for the meat substitutes market in this region. In Europe, the contribution of new product launches from the meat substitutes category increased from 9% in 2013 to 11% in 2018 (Jan-Sep). This trend was also seen across the globe with new product launches increasing from 6% to 14%.

Companies covered
• Amy’s Kitchen
• VBites
• Monde Nissin Corporation
• Beyond Meat
• Impossible Foods
• Sunfed
• Next Level Burgers

Access full report:- https://www.aarkstore.com/food-beverages/1323638/global-meat-substitutes-market-2018-2023