Meat Substitutes Market Projected for USD 4.41 Billion Growth between 2024 and 2028: Market to Focus on Strategic Partnerships - Technavio

NEW YORK, Feb. 2, 2024 /PRNewswire/ -- The Meat Substitutes market size is projected to increase by USD 4.41 billion, at a CAGR of 11.98% between 2023 and 2028, according to the latest report by Technavio. The growth narrative in the Meat Substitutes market is underpinned by several factors, particularly the surging popularity of plant-based protein products and the growing health consciousness among consumers in the European region. The market is set to witness substantial growth with an influx of new players and a surge in product launches. For more information – Request a Free Sample Report.

What are the Growth Drivers, Trends, and Challenges?

• Growth Drivers: New product launches in the meat substitute industry are notably driving market growth.
• Trends: An increasing number of mergers and acquisitions and strategic partnerships in the meat substitute industry is an emerging trend shaping the market growth.
• Challenges: The relatively high price of meat substitutes is a significant challenge hindering market growth.

What are the key insights?
Market Segmentation:The report segments the market by Product Type, Application, and Geography. The soy-based segment is projected to witness substantial growth due to characteristics resembling meat, such as consistency, taste, and associated health benefits.
Regional Overview: Europe emerges as a significant contributor, projected to contribute 40% to the global market growth during the forecast period. The market in Europe is driven by the popularity of plant-based protein products, increasing health consciousness, and a growing number of product launches and investments. View Free Sample Report.

Who's Navigating the Competitive Landscape?

Some of the key players like Archer Daniels Midland Co., Beyond Meat Inc., Kerry Group Plc, and others, strategically navigate the market dynamics. The report offers nuanced insights into their alliances, mergers, and product launches, shaping the competitive landscape. The report provides strategic insights into key players, offering stakeholders a roadmap for navigating the dynamic Silicones market. For a comprehensive understanding, purchase the full report

Meat Substitutes Market 2024-2028: Segmentation

Meat Substitutes Market is segmented as below:

• Distribution Channel

• Retail
• Foodservice

• Product Type

• Soy-based
• Wheat-based
• Mycoprotein-based
• Others

• Geography 

• Europe
• North America
• APAC
• South America
• Middle East And Africa

Learn more about the additional trends impacting the future of the market and the positive and negative consequences on the businesses, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43310

Meat Substitutes Market 2024-2028 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our meat substitutes market report covers the following areas:

• Meat Substitutes Market size
• Meat Substitutes Market trends
• Meat Substitutes Market industry analysis

This study identifies Continuous R and D and product development in meat substitute products as one of the prime reasons driving the meat substitutes market growth during the next few years.

Related Reports:

The processed meat market share in the US is expected to increase by USD 5.37 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.58%.
The poultry meat market size is projected to increase by USD 28.95 million and the market size is estimated to grow at a CAGR of 1.36% between 2023 and 2028.

Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Cometitive Landscape

12 Companies Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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