Meat Substitute Ingredients Market Scope And Analysis

Report Code : TIPRE00020371
Category : Food and Beverages

Status : Published
No. of Pages : 197

Buy Now

Meat Substitute Ingredients Market Scope, Growth, Size and Share by 2030

Buy Now

Meat Substitute Ingredients Market Report Scope

Report Attribute	Details
Market size in 2022	US$ 2.19 Billion
Market Size by 2030	US$ 4.02 Billion
Global CAGR (2022 - 2030)	7.9%
Historical Data	2020-2021
Forecast period	2023-2030
Segments Covered	By Source Soy Wheat Pea Mycoprotein By Ingredient Type Soy Protein Pea Protein Tempeh Tofu Seitan By Application Patties Nuggets Sausages Meatballs
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Crespel Deiters GmbH Co KG SOTEXPRO SA DuPont de Nemours Inc Ingredion Inc Wilmar International Ltd Archer Daniels Midland Co Axiom Foods Inc Kerry Group Plc Roquette Freres SA

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Various initiatives taken by the key players operating in the meat substitute ingredients market are listed below:

In November 2022, Ingredion Incorporated announced its plan to acquire 100% ownership in Verdient Foods Inc., a joint venture that aims to accelerate growth in plant-based proteins. The acquisition enables Ingredion to accelerate net sales growth, expand manufacturing capabilities, and co-create with customers to serve the increasing consumer demand for plant-based foods.
In August 2022, ADM and Benson Hill Inc., a food technology firm, established a long-term strategic agreement to expand new soy products in order to fulfill the rapidly increasing demand for plant-based proteins. The partnership will cater to the needs of savory, sweet, and dairy customers by serving a range of plant-based food & beverage industries.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Crespel & Deiters GmbH & Co KG, SOTEXPRO SA, DuPont de Nemours Inc, Ingredion Inc, Wilmar International Ltd, Archer-Daniels-Midland Co, Axiom Foods Inc, Kerry Group Plc, Roquette Freres SA, and The Scoular Co are among the prominent companies profiled in the meat substitute ingredients market report. These companies focus on launching innovative products with gluten-free, genetically modified organisms-free (GMO-free), allergen-free, organic, and sugar-free claims. Moreover, they are increasing the nutritional value of the products to meet the requirements of consumers. Such innovative products offer a competitive advantage to the companies, increasing market competitiveness. Further, companies adopt merger and acquisition, partnership, and collaboration strategies to expand their consumer base and strengthen their market position. These factors are anticipated to increase the competition among meat substitute ingredient manufacturers worldwide. Thus, the meat substitute ingredients market forecast and trend analysis can help stakeholders plan their growth strategies.