United States Meat Substitutes Market Trends, Share, Size, Demand, Revenue and Future Outlook
United States Meat Substitutes Market Growth, Size, Trends Analysis- By Type, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: FOOD24121 | Pages: 1 - 106 | Formats*: |
| Category : Food & Beverages | |||
United States Meat Substitutes Market Introduction and Overview
According to SPER Market Research, the United States Meat Substitutes Market is estimated to reach USD 5.76 billion by 2033 with a CAGR 11.17%.
The report includes an in-depth analysis of the United States Meat Substitutes Market, including market size and trends, product mix, distribution channels, and supplier analysis. Products known as "meat substitutes" are created completely of plant-based ingredients or alternative protein sources and are intended to mimic the flavor, texture, and appearance of traditional animal meats. These alternatives typically include substances like mycoprotein, which is made from fungi like Quorn, soy, wheat gluten, or pea protein. Burgers, sausages, nuggets, and ground meat substitutes are just a few of the meat substitutes that provide consumers recognizable meal options without depending on animal products.
- September 2022: Wicked Kitchen, a North American company that sells plant-based products, has purchased Gathered Foods.
- Building on the recent introduction of Beyond Steak, Beyond Meat, a pioneer in plant-based meat, announced the April 2023 release of Beyond Pepperoni and Beyond Chicken Fillet.
Market Opportunities and Challenges
Opportunities: The main causes of the sales increase are the increased availability of plant-based protein substitutes in the majority of distribution centers nationwide and the growing knowledge of the health risks associated with meat intake. In 2022, about 69% of American consumers of plant-based foods bought beef-style substitute burgers. During the study period, textured vegetable protein was the most popular meat alternative in the US. Although TVP has always been a component of meat and plant-based foods, producers of meat alternatives now use it as their primary ingredient. The post-pandemic trend of consuming vegan food raised demand for TVP, resulting in a 10.71% increase in sales between 2019 and 2022.
Furthermore, The market for plant-based alternatives to meat is rising quickly as a result of customer demand. People are looking for alternatives to conventional beef products as they become more ecologically conscious and health conscious. Because plant-based meat alternatives offer a source of protein without the health risks associated with red and processed meats, like heart disease and some types of cancer, they present an alluring alternative. Furthermore, because of the negative environmental effects of meat production, such as deforestation, water use, and greenhouse gas emissions, customers are searching for more sustainable options.
Challenges: One of the main characteristics of plant-based meat substitutes that is challenging to replicate is the flesh's color. Cooking can also cause color changes in the components that make up textured vegetable proteins. Any alteration might greatly discourage customers from making repeat purchases of the goods because features like color are among the most crucial factors they take into account when making a purchase. Meat flavor is one of the most difficult components of producing them, aside from color. Flavoring chemicals cannot mimic the scent of meat, particularly in goods like plant-based meat substitutes. This resulted in the creation of bland-tasting items that don't give customers a satisfying flavor experience.
Market Competitive Landscape
The top five companies in the US meat substitutes market own 42.81% of the market, which is moderately consolidated. The Kellogg Company, Amy's Kitchen Inc., Beyond Meat Inc., Conagra Brands Inc., and Impossible Foods Inc. are the leading companies in this market.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Distribution Channel |
| Regions covered | Eastern region, Western region, Southern region, Northern region. |
| Companies Covered | Amy's Kitchen Inc., Beyond Meat Inc., Conagra Brands Inc., Hormel Foods Corporation, Impossible Foods Inc., Maple Leaf Foods, The Campbell Soup Company, The Hain Celestial Group, Inc., The Kellogg Company, The Kraft Heinz Company, and Wicked Foods, Inc., along with a category for Others. |
COVID-19 Impact on United States Meat Substitutes Market
The market for meat alternatives in the US was greatly impacted by the COVID-19 epidemic, which accelerated expansion as a result of changes in consumer behavior and supply chain interruptions. Many customers looked to plant-based alternatives as a dependable supply of protein while meat processing facilities experienced shortages and closures. Increased demand for sustainable and healthier food options was a result of this trend, which was further spurred by growing health and environmental consciousness. As firms innovated to satisfy the changing tastes of consumers seeking convenience and variety, retail sales of meat substitutes skyrocketed. As a result, the pandemic not only increased sales but also sparked a long-term shift in eating patterns that made plant-based proteins a mainstay of the American diet.
Key Target Audience:
- Health-Conscious Consumers
- Vegetarian and Vegan Communities
- Flexitarians
- Environmentally Conscious Shoppers
- Parents and Families
- Athletes and Fitness Enthusiasts
- Food Service Industry
- Retail Grocery Chains
Our in-depth analysis of the United States Meat Substitutes Market includes the following segments:
| By Type: | |
| By Distribution Channel: |
Key Topics Covered in the Report:
- United States Meat Substitutes Market Size (FY’2024-FY’2033)
- Overview of United States Meat Substitutes Market
- Segmentation of United States Meat Substitutes Market By Type (Tempeh, Textured Vegetable Protein, Tofu, Others)
- Segmentation of United States Meat Substitutes Market By Distribution Channel (Off-Trade, On-Trade)
- Expansion Analysis of United States Meat Substitutes Market
- Problems and Obstacles in United States Meat Substitutes Market
- Competitive Landscape in the United States Meat Substitutes Market
- Impact of COVID-19 and Demonetization on United States Meat Substitutes Market
- Details on Current Investment in United States Meat Substitutes Market
- Competitive Analysis of United States Meat Substitutes Market
- Prominent Players in the United States Meat Substitutes Market
- SWOT Analysis of United States Meat Substitutes Market
- United States Meat Substitutes Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the United States Meat Substitutes Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Meat Substitutes Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Meat Substitutes Market
7. United States Meat Substitutes Market, By Type (USD Million) 2020-2033
7.1. United States Meat Substitutes Market Size, Share and Forecast, By Type, 2020-20267.2. United States Meat Substitutes Market Size, Share and Forecast, By Type, 2027-20337.3. Type7.3.1. Tempeh7.3.2. Textured Vegetable Protein7.3.3. Tofu7.3.4. Others
8. United States Meat Substitutes Market, By Distribution Channel (USD Million) 2020-2033
8.1. United States Meat Substitutes Market Size, Share and Forecast, By Distribution Channel (, 2020-20268.2. United States Meat Substitutes Market Size, Share and Forecast, By Distribution Channel (, 2027-20338.3. Off-Trade8.3.1. Convenience Stores8.3.2. Online Channel8.3.3. Supermarkets and Hypermarkets8.3.4. Others8.4. On-Trade
9. United States Meat Substitutes Market Forecast, 2020-2033 (USD Million)
9.1. United States Meat Substitutes Market Size and Market Share
10. United States Meat Substitutes Market, By Region, 2020-2033 (USD Million)
10.1. United States Meat Substitutes Market Size and Market Share By Region (2020-2026)10.2. United States Meat Substitutes Market Size and Market Share By Region (2027-2033)10.3. Eastern Region10.4. Western Region10.5. Southern Region10.6. Northern Region
11. Company Profile
11.1. Amy's Kitchen Inc.11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. Beyond Meat Inc.11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. Conagra Brands Inc.11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. Hormel Foods Corporation11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. Impossible Foods Inc.11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Maple Leaf Foods11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. The Campbell Soup Company11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. The Hain Celestial Group, Inc.11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. The Kellogg Company11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. The Kraft Heinz Company11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary
11.10.4. Recent developments
11.11. Wicked Foods, Inc11.11.1. Company details11.11.2. Financial outlook11.11.3. Product summary11.11.4. Recent developments11.12. Others
12. Conclusion
13. Reference Links
14. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
United States Meat Substitutes Market is projected to reach USD 5.76 billion by 2033, growing at a CAGR of 11.17% during the forecast period.
United States Meat Substitutes Market grew in Market size from 2024. The Market is expected to reach USD 5.76 billion by 2033, at a CAGR of 11.17% during the forecast period.
United States Meat Substitutes Market CAGR of 11.17% during the forecast period.
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United States Meat Substitutes Market size is USD 5.76 billion from 2024 to 2033.
United States Meat Substitutes Market is covered By Type, By Distribution Channel
The North America is anticipated to have the highest Market share in the United States Meat Substitutes Market.
The Key players in the Market include Companies Covered Amy's Kitchen Inc., Beyond Meat Inc., Conagra Brands Inc., Hormel Foods Corporation, Impossible Foods Inc., Maple Leaf Foods, The Campbell Soup Company, The Hain Celestial Group, Inc., The Kellogg Company, The Kraft Heinz Company, and Wicked Foods, Inc., along with a category for others.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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