North America Meat Substitute Ingredients Market Forecast to 2030 - Regional Analysis - by Source, Ingredient Type, and Application

Description

List of Tables

The North America meat substitute ingredients market was valued at US$ 659.33 million in 2022 and is expected to reach US$ 1,272.32 million by 2030; it is estimated to record a CAGR of 8.6% from 2022 to 2030 .

Rising Demand for Plant-Based Meat Fuels North America Meat Substitute Ingredients Market

Over the past few years, awareness regarding environmental sustainability has increased significantly. Climate change has affected the earth's natural ecosystems and posed a significant threat to the well-being of people. Global population growth and urbanization are the primary causes of natural resource depletion, including water, fossil fuels, and land, contributing to global warming. Due to the rising global population, the demand for food is also increasing. People are heavily reliant on animal sources to meet their nutritional requirements. This factor has exerted high pressure on the livestock industry. The livestock industry is one of the key contributors to anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the worldwide livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. According to industry experts, livestock production emits more carbon dioxide than the whole transportation industry combined. As per the Good Food Institute, plant-based meat has 30-90% less greenhouse gas emissions (kg-CO2-eq/kg-meat) than conventional meat. Due to the rising awareness regarding the negative impacts of the meat and livestock industry on the environment, consumers are rapidly switching to plant-based food products.

According to the Good Food Institute (GFI) and the Plant Based Foods Association (PBFA), the plant-based food market in the US retail in 2022 was worth US$ 8 billion, with dollar sales up by 7% from 2021.

Source: The Plant Based Foods Association (PBFA)

Regular meat consumption may increase the risk of diabetes. According to ProVeg International, a nongovernment organization, a study by Oxford University of over 474,000 people found that daily consumption of 70 grams of unprocessed red meat (such as beef or pork) and processed meat (such as bacon, sausages, or ham) increased the risk of developing type 2 diabetes by 30%. Moreover, the consumption of plant-based food can reduce the risk of insulin resistance, prediabetes, and type 2 diabetes. This highlights the benefits of adopting sustainable food habits.

The consumers across the globe are adopting vegan lifestyle owing to increasing health concern and rising awareness about environmental sustainability. Thus, the increasing preference for plant-based food drives the demand for ingredients used to make plant-based food, such as tofu, soy protein, tempeh, and pea protein, thereby driving the meat substitute ingredients market.

North America Meat Substitute Ingredients Market Overview

North America is one of the most significant regions for the meat substitute ingredients market owing to the increasing number of individuals opting for healthier alternatives to meat products and the growing veganism trend. Moreover, with rising concerns about animal cruelty and its negative impact on the environment, consumers in the region prefer meat substitute products made from soy protein, tofu, tempeh, seitan, etc. In North America, women, especially millennials and 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.

According to the "World Health Organization (WHO)," those who consume an average of 14 pounds of red meat each day are at a 17% greater risk of colon cancer throughout their lifetime. Thus, consumers significantly prefer plant-based meat products, which is boosting the demand for meat substitute ingredients in the region.

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 boosts the demand for meat substitute ingredients in the region.

North America Meat Substitute Ingredients Market Revenue and Forecast to 2030 (US$ Million)

North America Meat Substitute Ingredients Market Segmentation

The North America meat substitute ingredients market is categorized into source, ingredients type, application, and country.

Based on source, the North America meat substitute ingredients market is categorized into Soy, wheat, pea, mycoprotein, and others. The soy segment held the largest market share in 2022.

Based on ingredients, the North America meat substitute ingredients market is categorized into Soy protein, pea protein, tempeh, tofu, seitan, and others. The soy protein segment held the largest market share in 2022.

In terms of application, the North America meat substitute ingredients market is categorized into patties, nuggets, sausages, meatballs, and others. The others segment held the largest market share in 2022.

By country, the North America meat substitute ingredients market is segmented into the US, Canada, and Mexico. The US dominated the North America meat substitute ingredients market share in 2022.

Crespel & Deiters GmbH Co KG, DuPont de Neumours Inc, Ingredion Inc, Wilmar International Ltd, Archer Daniels Midland Co, Axiom Foods Inc, The Scoular Co, Kerry Group Plc, and Roquette Freres SA are some of the leading companies operating in the North America meat substitute ingredients market.

Product Code: BMIRE00031092

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Market Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Meat Substitute Ingredients Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturing Process
- 4.3.3 Distributors or Suppliers
- 4.3.4 Application
4.4 List of Vendors

5. Meat Substitute Ingredients Market - Key Market Dynamics

5.1 Meat Substitute Ingredients Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Demand for Plant-Based Meat
- 5.2.2 Strategic Development Initiatives by Key Market Players
5.3 Market Restraints
- 5.3.1 Flavor Challenges Associated with Plant-Based Protein
5.4 Market Opportunities
- 5.4.1 Government Initiatives to Promote Consumption of Meat Alternative Products
5.5 Future Trends
- 5.5.1 Growing Veganism Trend
5.6 Impact of Drivers and Restraints:

6. Meat Substitute Ingredients Market - North America Market Analysis

6.1 Meat Substitute Ingredients Market Revenue (US$ Million), 2020-2030
6.2 Meat Substitute Ingredients Market Forecast Analysis

7. Meat Substitute Ingredients Market Analysis - by Source

7.1 Soy
- 7.1.1 Overview
- 7.1.2 Soy: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.2 Wheat
- 7.2.1 Overview
- 7.2.2 Wheat: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.3 Pea
- 7.3.1 Overview
- 7.3.2 Pea: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Mycoprotein
- 7.4.1 Overview
- 7.4.2 Mycoprotein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

8. Meat Substitute Ingredients Market Analysis - by Ingredient Type

8.1 Soy Protein
- 8.1.1 Overview
- 8.1.2 Soy Protein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Pea Protein
- 8.2.1 Overview
- 8.2.2 Pea Protein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Tempeh
- 8.3.1 Overview
- 8.3.2 Tempeh: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Tofu
- 8.4.1 Overview
- 8.4.2 Tofu: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Seitan
- 8.5.1 Overview
- 8.5.2 Seitan: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

9. Meat Substitute Ingredients Market Analysis - by Application

9.1 Patties
- 9.1.1 Overview
- 9.1.2 Patties: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.2 Nuggets
- 9.2.1 Overview
- 9.2.2 Nuggets: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.3 Sausages
- 9.3.1 Overview
- 9.3.2 Sausages: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.4 Meatballs
- 9.4.1 Overview
- 9.4.2 Meatballs: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

10. North America Meat Substitute Ingredients Market - Country Analysis

10.1 North America Market Overview
- 10.1.1 North America: Meat Substitute Ingredients Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 North America: Meat Substitute Ingredients Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 United States: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.2.1 United States: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.2.2 United States: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.2.3 United States: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.3 Canada: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.3.1 Canada: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.3.2 Canada: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.3.3 Canada: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.4 Mexico: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.4.1 Mexico: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.4.2 Mexico: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.4.3 Mexico: Meat Substitute Ingredients Market Breakdown, by Application

11. Industry Landscape

11.1 Overview
11.2 Expansion
11.3 New Product Development
11.4 Merger and Acquisition
11.5 Partnerships

12. Company Profiles

12.1 Crespel & Deiters GmbH & Co KG
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 DuPont de Nemours Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Ingredion Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Wilmar International Ltd
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Archer-Daniels-Midland Co
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Axiom Foods Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Kerry Group Plc
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Roquette Freres SA
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4
- 12.8.5 Financial Overview
- 12.8.6 SWOT Analysis
- 12.8.7 Key Developments
12.9 The Scoular Co
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners