Meat substitute ingredients include soy protein, pea protein, tempeh, tofu, and seitan. These ingredients possess ideal texture and protein content, similar to conventional animal-based meat. Therefore, these ingredients are increasingly being used by the manufacturers of meat substitute products to develop meat analogs with similar flavor, taste, and texture to traditional meat. The meat substitute ingredients market report emphasizes the key driving factors such as rising demand for plant-based meat and strategic initiatives by key market players and showcases the developments of prominent players.

Based on source, the meat substitute ingredients market is segmented into soy, wheat, pea, mycoprotein, and others. The soy segment accounted for the largest market share in 2022. However, the mycoprotein segment is expected to register a higher growth rate during 2022–2030. By ingredient type, the meat substitute ingredients market is segmented into soy protein, pea protein, tempeh, tofu, seitan, and others. The soy protein segment accounted for the largest market share in 2022. However, the pea protein segment is expected to register the highest growth rate during the forecast period. By application, the meat substitute ingredients market is segmented into patties, nuggets, sausages, meatballs, and others. The patties segment accounted for the largest market share in 2022. However, the nuggets segment is expected to register the highest growth rate during the forecast period.

Based on geography, Europe dominated the meat substitute ingredients market share in 2022. The increasing health consciousness and the rising trend of veganism have made Europe a significant market for meat substitute ingredients. According to the Good Food Institute (GFI), plant-based meat sales alone accounted for US$ 2.1 billion in 2022—up 19% compared with 2020. Similarly, according to “The Smart Protein Project report,” the sales value of plant-based food in Germany grew by 97% during 2018–2020, while the sales volume increased by 80%. Moreover, consumers are highly inclined toward plant-based meat products due to rising awareness of animal welfare and environmental sustainability. The key market players are expanding their presence in European countries to cater to the increasing demand for meat substitute ingredients. For instance, in September 2021, Roquette Frères—a global leader in meat substitute ingredients and a pioneer of plant proteins, announced the opening of a center of expertise of 2,000 square meters on its site in Vic-Sur-Aisne (Hauts-de-France, France). This center is fully dedicated to plant protein innovation. This strategy also helped the company to expand its product line and business dimensions globally. Thus, due to all the factors mentioned above, the demand for meat substitute ingredients is expected to grow in Europe during the forecast period.

North America is one of the fastest-growing markets for meat substitute ingredients due to the increasing awareness of the health benefits of plant-based meat along with rising veganism. In North America, women, especially millennials and the younger population, are the core consumers of plant-based food and beverages. This is largely a group of health-focused, affluent, and college-educated Americans. Thus, the continuous health- and sustainability- halos around plant-based meat, despite media reports that such products may be on par with animal meat, make plant proteins appealing to consumers. The meat substitute products manufacturers in the region are constantly taking strategic initiatives such as product innovation, which has pioneered the production of these products. For instance, in April 2023, Beyond Meat, a US-based leader in plant-based meat, announced the launch of Beyond Pepperoni and Beyond Chicken Fillet, building on their recent rollout of Beyond Steak. Such innovation in meat substitute products ultimately drives the meat substitute ingredients market growth.

Government Initiatives to Promote Consumption of Meat Alternative Products are Expected to Provide Lucrative Opportunities to Meat Substitute Ingredients Market

Government bodies across various countries are promoting the consumption of plant-based meat owing to the rising environmental concerns and health benefits offered by these products. Additionally, the governments are actively investing in R&D and new product launches of plant-based meat products. In 2021, the South Korean Ministry of Agriculture, Food and Rural Affairs established a US$ 70.3 million fund with several sub-funds dedicated to food and agriculture.

Thus, favorable government regulations and increasing initiatives are expected to provide immense growth opportunities in the meat substitute ingredients market in the coming years.

Meat Substitute Ingredients Market: Segmental Overview

Based on application, the meat substitute ingredients market is segmented into patties, nuggets, sausages, meatballs, and others. The patties segment dominated the meat substitute ingredients market share in 2022, whereas the nuggets segment is projected to register the highest CAGR from 2022 to 2030. With the growing trend of healthy eating, plant-based meat patties are gaining significant popularity, particularly in the Americas and Europe. Plant-based patties are made from ingredients such as beans, soybeans, tofu, nuts, grains, seeds, mushrooms, or mycoproteins. Expert recommendations and product developments are two of the most important aspects driving the demand for plant-based patties. In 2021, McDonald, a well-known fast-food brand launched “McPlant,” a new product that was a plant-based substitute for meat burgers patties. Thus, the rising popularity of plant-based burger patties is driving the meat substitute ingredients market growth.

Meat Substitute Ingredients Market: Competitive Landscape and Key Developments

The meat substitute ingredients market analysis is carried out by identifying and evaluating key players in the market across different regions. 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 a few companies profiled in the meat substitute ingredients market report. Players operating in the market focus on providing high-quality ingredients at affordable prices to fulfill customer demand.

Key Developments

• In November 2022, International Flavors & Fragrances Inc (IFF) launched Supro Tex—a soy-based plant protein ingredient. The ingredient contains 80% protein, giving it a profile comparable to animal meat. Such product launches by key market players drive the meat substitute ingredients market.
• In April 2022, Ingredion expanded its production capacity by setting new production plant at Vanscoy, Canada, through the acquisition of Verdient Foods. This acquisition increases the company’s production capacity to produce plant-based protein solutions. Thus, such strategic development initiatives by key market players help companies extend their domestic reach and gain a competitive edge in international markets.