According to Custom Market Insights (CMI), the Global Meat Substitute Market size was estimated at USD 10.1 Billion in 2023 and is projected to reach approximately USD 233.87 Billion by 2030, growing at a compound annual growth rate (CAGR) of 42.1% from 2023 to 2030.

According to expert analysis from CMI, intensive animal husbandry practices have come under increasing criticism due to their negative impact on the environment, sustainability, and animal welfare. Consequently, there has been a strong rise in diets that reduce or eliminate animal-based products, creating significant momentum for the growth of the meat substitutes market.

The clean eating movement has become a global trend as consumers increasingly seek transparency, natural ingredients, and healthier alternatives in their food choices. Manufacturers are prioritizing minimally processed ingredients with strong nutritional functionality and performance. In this context, plant-based proteins are often combined with fibers, starches, and other stabilizers of natural origin to create multifunctional products with clean labels that appeal to modern consumer preferences.

Market Trends and Innovation

Innovation plays a central role in shaping product development across all segments of the meat substitute market, including chilled, ambient, and frozen products. The introduction of new varieties has significantly expanded consumer choice and enhanced brand visibility. Retailers, particularly supermarkets, have also increased shelf space for meat substitutes in response to the growing demand.

At the same time, larger industry players are paying close attention to smaller startup brands that demonstrate strong innovation and growth potential in this space. An example of this is Unilever’s acquisition of the Netherlands-based Vegetarian Butcher brand in December 2018, highlighting the recognition of market potential and consolidation trends in the industry.

Manufacturers are further diversifying their ingredient base, focusing on ingredients that provide high protein levels and nutritional benefits. This aligns with rising consumer expectations for products that are not only meat-free but also deliver on health and sustainability.

COVID-19 Impact on the Meat Substitute Market

Even before the outbreak of COVID-19, plant-based meat was gaining strong traction among consumers. The pandemic accelerated this trend as lockdowns drove consumers to stock up on both conventional and plant-based protein options. Heightened awareness of the benefits of plant-based and vegan diets created new revenue opportunities for companies in the meat alternatives space.

As restrictions ease, the reopening of the HoReCa (Hotel, Restaurant, Café) industry is expected to further fuel the demand for meat alternatives. Many brands have adopted mobile shopping applications and eCommerce channels to expand their market reach. Furthermore, COVID-19 outbreaks in traditional meat-processing and packaging plants heightened consumer interest in safer, plant-based dietary choices, accelerating the shift toward alternatives.

Rising Demand for Plant-Based Ingredients

The rapid expansion of the meat alternatives market is closely tied to the increasing global population and growing consumer interest in vegetarian and vegan diets. Companies are actively working to expand the accessibility of animal protein substitutes across different markets. One of the key factors driving growth is the rising demand for plant-based ingredients, which has led to innovations such as texturized vegetable protein (TVP).

Compared to conventional animal protein, TVP is not only more cost-efficient but also carries a significantly lower environmental impact. This balance of affordability, nutrition, and sustainability continues to strengthen its adoption as a core ingredient in plant-based meat substitutes.

CMI Analysts’ Viewpoint

Analysts at CMI point out that the risk of future influenza pandemics emerging from poultry or pork farming is also encouraging consumers to seek plant-based dietary solutions. While conventional meat remains a rich source of protein and vitamin B12, the market for meat substitutes offers stakeholders an opportunity to collaborate with farmers and producers of value-added, eco-friendly food products.

Wheat-derived proteins, particularly textured wheat protein, are gaining attention as they can effectively replace meat without compromising taste or texture. Unlike soy protein, textured wheat protein has a neutral flavor profile, reducing the need for masking agents, and making it a versatile and preferred option in developing innovative plant-based meat alternatives.

https://www.custommarketinsights.com/report/meat-substitute-market/