Meat Substitute Market | United States

With increasing consumer awareness about the dangers of consuming too much meat, and with increasing incidences of health issues related to meat consumption cropping up, it is expected that this segment will see a consistent growth in the next few years. The global meat substitute market, which mainly consists of soy, Quorn, and seitan, was valued at USD 3.45 billion in 2015. The world market is expected to grow at a steady CAGR of 8.1% and is expected to gross around USD 5.2 billion by 2020. The market is somewhat restricted due to the cost and pricing of meat substitutes, making them as expensive as the real McCoy. But despite this, the market is experiencing steady growth.

One of the key drivers for the meat substitute market happens to be the increasing consumer awareness of the fact that meat, which is obtained locally, is often adulterated. That, coupled with health awareness, is propelling the growth in this segment. The US market for meat substitutes was valued at $845 million and is expected to grow at a CAGR of 4.1% to gross around USD 1.1 billion by 2020. The US market, however, seems to be growing at a slower rate, due to the fact that the meat substitute market is both fragmented and highly priced.  Despite this, the market is expected to perform well in the next few years, with stronger growth being projected for the Asian markets as well.

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Amy’s Kitchen

  • Country : United States
  • Turnover : USD 300 Million
  • Position : It is a family-owned and privately held company that manufactures organic and frozen foods.

Beyond Meat

  • Country : United States
  • Turnover : USD 20 Million +
  • Position : This company was established in 2009 by Ethan Brown and known for producing plant-based meats.

Premier foods

  • Country : St. Pierre & Miquelon
  • Turnover : GBR 764.56
  • Position : British foods manufacturer known for its meat substitute consumer foods, It was originally founded as the Hillsdown Holdings in 1975.

Gardein

  • Country : Canada
  • Turnover : USD 7.5 million
  • Position : Is a company known for its lineup of meat-free foods that was acquired by Pinnacle Foods in November 2014.

Pinnacle foods

  • Country : United States
  • Turnover : USD 7.5 billion
  • Position : It is a packaged foods company that specializes in the shelf-stable and frozen food categories.

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