Global Meat Substitute Industry Forecast to 2025 with Top Key Manufacturers

Factors such as the health advantages linked with meat substitutes, inclination of customers towards these products is rising across the world. The consumption of meat substitutes is beneficial for health owing to the high protein content. Rise in health awareness among consumers along with altering the preferences towards vegetarian diet are anticipated to propel the meat substitutes market growth during the forecasted years

Market Outlook:

The global meat substitutes market is classified based on product type and raw material. Depending upon product type, the global market is divided into tofu based products, quorn, tempeh, textured vegetable protein, tofu, other soy products, seitan, and others. The textured vegetable protein market segment is projected to be the major segment in terms of revenue share over future years. Factors such as rise in demand for soy-based meat substitutes among the consumers are leading to the high growth of the market.

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Soy is the major raw material utilized for meat substitutes and is projected to render maximum revenue in the forecast years. Large number of companies are investing profoundly in research and development activities in order to launch superior products and also broaden their product portfolio in order to meet the developing demand for meat substitutes especially from emerging economies. The organizations working in meat substitutes market are majorly involved in partnerships as well as collaborations in order to reinforce their product portfolio.

Major players:

  • Smurfit Kappa Group Plc.
  • DS Smith Plc
  • Holmen AB
  • MeadWestvaco Corporation
  • Mayr-Melnhof Karton AG
  • Georgia-Pacific LLC
  • Nine Dragons Paper (Holdings) Ltd.
  • Newark Group

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Geographically, E-commerce has acted as a major boosting sector for corrugated packaging market growth in Europe. The region is expected to acquire major share in the industry owing to the changing consumer lifestyle and increasing demand for convenience among the consumers. . North America region is also anticipated to witness a steady growth owing to the prominence of retail sector and e-commerce business. Steady growth in food and beverage industry and e-commerce business particularly in Asia Pacific region projected to have a potential opportunity for the corrugated packaging market over the forecast period. China is also increasing paper recycling rate coupled with governments support to supply corrugated packaging material in order to reduce the accumulation of waste products is anticipated to foster the market in the region. Moreover, other emerging nations are struggling to lower the carbon footprints also expected to contribute the industry growth.

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