Global Meat Substitutes Market Size & Outlook, 2023-2030
Global meat substitutes market, 2017-2030 (US$M)
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Global meat substitutes market highlights
- The global meat substitutes market generated a revenue of USD 18,777.1 million in 2023 and is expected to reach USD 234,656.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 43.4% by 2030.
- In terms of segment, plant-based protein accounted for a revenue of USD 11,727.2 million in 2023.
- Mycoprotein is the most lucrative source segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 18,777.1 million |
| Market revenue in 2030 | USD 234,656.4 million |
| Growth rate | 43.4% (CAGR from 2023 to 2030) |
| Largest segment | Plant-based protein |
| Fastest growing segment | Mycoprotein |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plant-based Protein, Mycoprotein, Soy-based |
Other key industry trends
- In terms of revenue, the North America accounted for 33.8% of the global meat substitutes market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 42,728.3 million by 2030.
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Meat Substitutes Market Scope
Meat Substitutes Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global meat substitutes market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to meat substitutes market will help companies and investors design strategic landscapes.
Plant-based protein was the largest segment with a revenue share of 62.45% in 2023. Horizon Databook has segmented the Global meat substitutes market based on plant-based protein, mycoprotein, soy-based covering the revenue growth of each sub-segment from 2017 to 2030.
Manufacturers are using emerging technologies to mimic animal fat in plant based meat and to provide enhanced quality, texture and taste. Companies including Beyond Meat and Impossible Foods are heavily investing in R&D and technology development to create their products. For instance, Impossible Foods uses a genetically engineered strain of yeast to create soy leghemoglobin, which aids in creating a meaty flavor.
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Target buyers of Global meat substitutes market databook
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Our clientele includes a mix of meat substitutes market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global meat substitutes market , including forecasts for subscribers. This global databook contains high-level insights into Global meat substitutes market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global meat substitutes market size, by regions, 2017-2030 (US$M)
Top 10 countries: Meat substitutes market size, 2023 (US$M)
Global meat substitutes market share, by source, 2023 & 2030 (%, US$M)
Meat substitutes market: Opportunity assessment by country
Global meat substitutes market, by region, 2023 (US$M)
| Source | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,492.4 | 2,016.7 | 2,672.8 | 3,003.5 | 3,623.9 | 4,541.5 | 6,339.2 | 9,139.7 | 13,243.9 | 18,776.4 | 25,850.6 | 34,528.4 | 45,355.2 | 57,702.0 | 37.1% |
| Europe | 1,373.5 | 1,856.1 | 2,576.9 | 3,036.2 | 3,845.1 | 5,063.3 | 7,435.7 | 11,294.4 | 17,267.2 | 25,870.2 | 37,706.3 | 53,423.3 | 74,599.7 | 101,136.9 | 45.2% |
| Asia Pacific | 562.7 | 760.5 | 1,089.7 | 1,322.9 | 1,723.3 | 2,330.9 | 3,511.3 | 5,464.1 | 8,548.5 | 13,092.5 | 19,487.6 | 28,171.0 | 40,101.7 | 55,378.9 | 48.3% |
| Latin America | 118.1 | 159.6 | 219.3 | 255.8 | 320.8 | 418.3 | 608.4 | 915.4 | 1,386.5 | 2,058.3 | 2,973.0 | 4,174.9 | 5,778.9 | 7,767.1 | 43.9% |
| MEA | 155.5 | 210.1 | 294.7 | 350.6 | 448.3 | 595.7 | 882.5 | 1,352.0 | 2,084.0 | 3,147.2 | 4,622.7 | 6,598.6 | 9,281.2 | 12,671.5 | 46.3% |
| Overall | 3,702.2 | 5,003.0 | 6,853.4 | 7,969.1 | 9,961.3 | 12,949.7 | 18,777.1 | 28,165.6 | 42,530.1 | 62,944.5 | 90,640.1 | 126,896.2 | 175,116.7 | 234,656.4 | 43.5% |
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