- In May 2024, Tofurky made a significant impact at the National Restaurant Association Show by unveiling its new product line tailored for foodservice clients, featuring the Next Generation Plant-Based Deli Slices. This innovative offering is designed to enhance menu versatility for chefs and restaurant operators, catering to the growing consumer demand for plant-based foods that provide delicious, healthier alternatives in a dining setting
- In March 2024, The Kraft Heinz Not Company LLC announced the launch of NotHotDogs and NotSausages, expanding the Oscar Mayer brand's reach in the plant-based market. This collaboration with TheNotCompany, Inc. aims to deliver flavorful meat alternatives that appeal to a wide demographic. By focusing on taste and experience, they ensure that consumers can enjoy satisfying plant-based options without sacrificing flavor or quality
- In February 2024, Beyond Meat introduced its latest innovation, the Beyond IV platform, showcasing the fourth generation of its popular plant-based products, including the Beyond Burger and Beyond Beef. Set for a spring launch in U.S. stores, these new offerings promise improved taste and texture, aiming to attract a broader audience of plant-based enthusiasts. This advancement highlights Beyond Meat’s commitment to continuous innovation in meat alternatives
- In December 2023, Quorn, a leader in the U.K. meat-free market, reintroduced its popular vegetarian Quorn Fillet Pieces, renowned for their quality and flavor. This versatile ingredient is suitable for a variety of dishes, reaffirming Quorn's dedication to delivering tasty meat alternatives. By focusing on nutrition and taste, Quorn continues to strengthen its position in the expanding plant-based market, catering to health-conscious consumers
- In August 2023, Beyond Meat, Inc. expanded its burger lineup with the introduction of the Beyond Stack Burger, designed to offer an extraordinary taste experience. This innovative product reflects Beyond Meat's commitment to quality and flavor, catering to evolving consumer preferences for plant-based options. By providing satisfying meals that emphasize health and sustainability, Beyond Meat encourages more individuals to embrace a plant-based lifestyle
Frequently Asked Questions
The market is segmented based on Segmentation, By Source (Soy, Wheat, Mycoprotein, and Others), Category (Frozen, Refrigerated, and Shelf-Stable), Type (Tofu and Tofu Ingredients, Tempeh, Textured Vegetable Protein, Other Soy Products, Seitan, Quorn and Other Meat Substitutes), Form (Solid and Liquid) – Industry Trends and Forecast to 2031
.
The Global Meat Substitutes Market size was valued at USD 5.22 USD Billion in 2023.
The Global Meat Substitutes Market is projected to grow at a CAGR of 6.85% during the forecast period of 2024 to 2031.
The major players operating in the market include Ashland, Dow, Chevron Phillips Chemical Company, BASF SE, Exxon Mobil Corporation, Solvay, NALCO India, Air Products and Chemicals , 3M, FMC Corporation, Akzo Nobel N.V., SNF Group, NASCO, Clariant, Huntsman International LLC, Orica Limited, ArrMaz, Kemira,.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
