Beyond Meat Exploring the Growing Market for Meat Substitutes
The global meat substitutes market is experiencing growth, according to P&S Intelligence. This growth can be credited to the increasing worries about food safety and sustainability and increasing expenditure on plant-based protein sources are the main boosting factors for the meat substitutes industry.
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In the coming few years, Soy-based products are all set to hold the largest market share, on the basis of the source. Soy items have a better capability to grip the rich flavors of other food items, and they can be utilized in numerous recipes, which empowers them to be a preferred substitute for meat. Moreover, they are also a good source of proteins, and they are quite similar in color and texture to meat items.
On the basis of product, the seitan category is projected to experience the highest growth rate in the coming few years. Seitan-based items are a great choice for vegans who cannot eat soy items. Furthermore, they are present in several forms, including slices, blocks, marinated strips, and shaped masses.
North America is dominating the industry, with the largest revenue share. This is mainly credited to the high consumer fondness for meat substitutes credited from plant-based ingredients and increasing health knowledge among the individuals in the continent.
As per the Academy of Nutrition and Dietetics, vegetarians are less likely to grow heart illness, high blood pressure, cancer, and diabetes than meat eaters.
Additionally, on average, vegetarians are up to 20 pounds lighter in comparison to meat consumers. Furthermore, customers are progressively choosing plant-based meat alternates that can provide an alike flavor, texture, and taste as processed meat items at the finest price.