Demand For Plant Based Meat Substitutes Is Projected To Reach US$ 13 Bn By The End Of 2022

The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.

The report offers actionable and valuable market insights of Mycoprotien Meat Substitute. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Mycoprotien Meat Substitute Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Mycoprotien Meat Substitute market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Mycoprotien Meat Substitute

This newly published and insightful report sheds light on Market Insights of Mycoprotien Meat Substitute, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Mycoprotien Meat Substitute Market.

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Report Attributes Details
Anticipated Base Year Value (2021) US$ 10 Billion
Projected Market Value (2022) US$ 13 Billion
Expected Forecast Value (2032) US$ 235 Billion
Global Growth Rate (2022-2032) 33.6% CAGR
Market Share of Europe (2022) 40%
Growth Rate of APAC (2022-2032) 45% CAGR
Key Companies Profiled Amy’s KitchenBeyond MeatImpossible Foods Inc.Quorn FoodsThe Kellogg CompanyUnileverMeatless B.VVBites Foods Ltd.SunfedTyson Foods Inc.

By source, demand for plant-based protein meat substitutes is poised emerge the strongest, accumulating over 1/3rd revenue share in 2022 and beyond. However, mycoprotein meat substitutes are expected to reflect highest growth, surging at almost 44% CAGR until 2032.

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Competitive Landscape

The global meat alternative market landscape is highly competitive, characterized by the presence of established players as well as new entrants. Given the rising consumption of non-meat based food products due to multiple reasons, food manufacturers are introducing multiple product lines while simultaneously maintaining the taste associated with consuming meat-based foods. Moreover, collaborations, mergers & acquisitions and partnerships are relied upon. Some prominent development are:

  • In January 2022Beyond Meat Inc. and Pizza Hut announced the launch of plant-based Beyond Italian Sausage Crumbles as a permanent offering at Pizza Hut Canada locations nationwide. These crumbles are designed to offer the meaty texture and savory taste associated with Pizza Hut’s traditional Italian pork sausage, but sourced from plant-based ingredients
  • In March 2022Impossible Foods Inc. introduced its flagship Impossible Beef Made from Plants in supermarkets throughout Australia and Aotearoa New Zealand. This marks the first time Impossible Beef can be purchased in supermarkets in both regions- a mere four months since the company initially landed in restaurants across ANZ

Key Segments Covered in the Plant based Meat Substitute Industry Survey

  • By Source :
    • Plant-based Protein Meat Substitutes
    • Mycoprotein Meat Substitutes
    • Soy-based Meat Substitutes
    • Other Meat Substitutes
  • By Distribution Channel :
    • Plant based Meat Substitute Sales through Foodservice Channels
    • Plant based Meat Substitute Sales through Retail Channels

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Fact.MR, in its new report, offers an unbiased Market Analysis of Mycoprotien Meat Substitute, Sales and Demand of Mycoprotien Meat Substitute, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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