Asia-Pacific Meat Substitutes Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 2.15 Billion |
|
|
Market Size (2029) | USD 3.84 Billion |
|
Largest Share by Type | Textured Vegetable Protein |
|
|
CAGR (2024 - 2029) | 12.35 % |
|
Largest Share by Country | China |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
Asia-Pacific Meat Substitutes Market Analysis
The Asia-Pacific Meat Substitutes Market size is estimated at 2.15 billion USD in 2024, and is expected to reach 3.84 billion USD by 2029, growing at a CAGR of 12.35% during the forecast period (2024-2029).
2.15 Billion
Market Size in 2024 (USD)
3.84 Billion
Market Size in 2029 (USD)
10.17 %
CAGR (2017-2023)
12.35 %
CAGR (2024-2029)
Largest Segment by Type
60.31 %
value share, Textured Vegetable Protein, 2023
A wide range of applications in various fast food and a similar taste profile to meat are propelling the sales of TVP in the region.
Largest Segment by Country
22.82 %
value share, China, 2023
Owing to the widespread concerns over weight loss and the welfare of the environment and animals, the younger generation in China is embracing the decision to eat less meat.
Fastest-growing Segment by Type
13.36 %
Projected CAGR, Tempeh, 2024-2029
Tempeh is a functional, nutritionally high-protein food ingredient for meat substitutes. It can also be consumed on its own as a meat substitute, which drives its demand.
Fastest-growing Segment by Country
12.87 %
Projected CAGR, India, 2024-2029
Indian manufacturers are focused on capturing the market by creating healthier food product offerings and increasing their sales through e-commerce platforms.
Leading Market Player
8.53 %
market share, Kerry Group PLC, 2022
The company is known for its freeze-dried tofu and seasoned fried tofu product offerings, which include many variants and are all made from certified non-GMO soybeans.
Sustainability and environmental concerns majorly driving the growth of the vegan society
- The Asia-Pacific meat substitutes market witnessed significant growth, recording a CAGR of 9.84% by value over 2017-2022. China has the largest consumption of meat substitutes in Asia-Pacific, followed by India and Japan. In China, the growth is primarily led by the popularity of plant-based meat and protein alternatives. By introducing new dietary guidelines in 2021, the Chinese government announced plans to lower its citizens' meat consumption by 50%. The country's health ministry recommended that an individual consume only between 40 g and 75 g of meat each day. The measures aim to enhance public health while simultaneously attempting to significantly reduce GHG emissions.
- The consumption of meat substitutes has continued to progress over the years, owing to the growing adoption of diets like veganism. In 2022, the sales value of meat substitutes grew by 34.56% by value over 2019. Asian producers of plant-based meat reported record sales as customers looked for healthy alternatives against animal or dairy sources for daily nutrient requirements. Four of the top five global vegetarian markets are in Asia. As of 2020, the top Asian vegetarian population was spread over the following countries: India (29.8%), Indonesia (25.4%), Pakistan (16.8%), and China (3.8%).
- The fastest-growing segment type is tempeh, which is projected to register a CAGR of 13.40% by value during the forecast period. Due to rising demand from consumers and investors, the meat substitute market in Asia is predicted to experience rapid growth. The emergence of new entrants and startups in the region is a positive sign for this trend, along with supportive governments trying to meet their targets for reducing GHG emissions.
Understand The Key Trends Shaping This Market
Download PDF
Incorporation of plant-based protein into local dishes as fusion is promoting the segment in the market
- India is expected to be the fastest-growing country in the consumption of meat substitutes in Asia-Pacific, and it is projected to register a CAGR of 13.03% by value during the forecast period. Demand for healthy foods is fueling the rapid expansion of plant-based meat substitutes in India. Archer Daniels Midland partnered with Imagine Meats, an Indian producer of plant-based meat substitutes. ADM will source raw ingredients and take part in a technology partnership to manufacture products under the Imagine Meats brand. Similarly, Tiffany Foods, a subsidiary of Allana Group, recently began importing Beyond Meat patties and sausages into the Indian market.
- China holds the major market share. It registered a growth of 39.06% by value from 2018 to 2022. The key international players leading the plant-based market are American companies Impossible Foods and Beyond Meat. These companies entered the Chinese market by various means, including partnering with chains such as Starbucks, KFC, and Taco Bell. Chinese companies entering the market are at an advantage as they understand local tastes and culture and are focusing on local dishes such as dumplings, as well as opting for pork rather than beef flavors.
- In countries like Indonesia, the market for meat substitutes is gaining exponential growth. In 2022, around 78% of the population had tried meat alternative products, (24%) planning to adopt a vegetarian or plant-based diet. With high demand and relatively little competition, brands such as the Meatless Kingdom are likely to see rapid growth. In February 2021, Starbucks introduced a plant-based menu at 57 stores in Jakarta and Bali. Similarly, Pizza Hut and Taco Bell introduced Beyond Meat dishes.
Asia-Pacific Meat Substitutes Market Trends
A hike in raw material prices driven by multilayered distribution is inflating tempeh prices
- The average price for tempeh in Asia-Pacific was USD 7.07/kg in 2022. In the same year, the highest price was recorded in India and Australia, at USD 8/kg. The lowest price for tempeh in 2018 was USD 6 kg, recorded in China and Indonesia. Indonesia is the largest tempeh producer in the world and the largest soybean market in Asia. Around 50% of Indonesian soybean consumption is in the form of tempeh. The need for imported soybeans to produce tempeh in Indonesia is expected to reach 3 million tons per year. Since the beginning of 2021, tempeh producers have experienced difficulties in setting the price of their products and have chosen to reduce production by 30% to reduce production costs in line with the continuous increase in the price of imported soybeans.
- In addition, other problems cause the purchase price of imported soybeans to remain high even though world soybean prices have decreased. The current high price of soybeans was caused by cartel practices and bureaucracy. Prices of imported food, such as soybeans, are relatively cheap. However, it becomes expensive when it reaches consumers because of its multi-layered distribution.
- To tackle rising soybean prices in Asian countries, associations of soybean processors in various countries have asked their governments to get involved to reach a sustainable solution. For instance, in June 2021, the Soy Food Promotion and Welfare Association (SFPWA), which represents the Indian soybean food processing industry, requested the Indian government to permit the processing sector to import 50,000 metric tons of food specialty soybeans from the United States duty-free as domestic soybean prices had increased by 50% over the previous six months.
Understand The Key Trends Shaping This Market
Download PDF
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Players in the industry are focusing on stabilizing products to encourage consumers
- Uncertainty in soybean production is causing a spike in prices
Asia-Pacific Meat Substitutes Industry Overview
The Asia-Pacific Meat Substitutes Market is fragmented, with the top five companies occupying 13.70%. The major players in this market are Impossible Foods Inc., Kerry Group PLC, Roquette Freres, Vippy Industries Ltd and Vitasoy International Holdings Ltd (sorted alphabetically).
Asia-Pacific Meat Substitutes Market Leaders
Impossible Foods Inc.
Kerry Group PLC
Roquette Freres
Vippy Industries Ltd
Vitasoy International Holdings Ltd
Other important companies include China Foodstuff & Protein Group Co. Ltd, Flexitarian Foods Pty Ltd, Invigorate Foods Pvt. Ltd, Morinaga Milk Industry Co. Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
Need More Details on Market Players and Competitors?
Download PDF
Asia-Pacific Meat Substitutes Market News
- February 2023: Impossible Foods鈥� introduced a new plant-based chicken products line-up.
- January 2023: Roquette Freres announced their investment in DAIZ Inc., a Japanese food tech startup that has developed breakthrough technology utilizing germination of plant seeds combined with an extrusion process to enhance texture, flavor and the nutritional profile for plant-based foods. This partnership will allow Roquette and DAIZ to continue realizing their strong growth ambitions and meet rising global demand for innovative and sustainable plant-based ingredients combining great taste and high-quality nutritional value.
- October 2022: Roquette Freres announced the launch of a new line of organic pea ingredients: organic pea starch and organic pea protein.
Free with this Report
We offer a comprehensive and exhaustive set of data pointers. These cover global, regional, and country-level metrics that illustrate the fundamentals of the meat and meat substitutes industry. Clients can access in-depth market analysis through 45+ free charts. This analysis is based on the production of various meat and seafood types, as well as the prices of meat, meat substitutes, and different seafood types. We provide granular-level segmental information, supported by a repository of market data, trends, and expert analysis. Data and analysis on meat types, seafood types, meat substitute types, forms, distribution channels, and more are available. These are provided in the form of comprehensive reports as well as Excel-based data worksheets.
Asia-Pacific Meat Substitutes Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study鈥�
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Price Trends
2.1.1. Tempeh
2.1.2. Textured Vegetable Protein
2.1.3. Tofu
2.2. Regulatory Framework
2.2.1. Australia
2.2.2. China
2.2.3. India
2.2.4. Japan
2.3. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
3.1. Type
3.1.1. Tempeh
3.1.2. Textured Vegetable Protein
3.1.3. Tofu
3.1.4. Other Meat Substitutes
3.2. Distribution Channel
3.2.1. Off-Trade
3.2.1.1. Convenience Stores
3.2.1.2. Online Channel
3.2.1.3. Supermarkets and Hypermarkets
3.2.1.4. Others
3.2.2. On-Trade
3.3. Country
3.3.1. Australia
3.3.2. China
3.3.3. India
3.3.4. Indonesia
3.3.5. Japan
3.3.6. Malaysia
3.3.7. South Korea
3.3.8. Rest of Asia-Pacific
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
4.4.1. China Foodstuff & Protein Group Co. Ltd
4.4.2. Flexitarian Foods Pty Ltd
4.4.3. Impossible Foods Inc.
4.4.4. Invigorate Foods Pvt. Ltd
4.4.5. Kerry Group PLC
4.4.6. Morinaga Milk Industry Co. Ltd
4.4.7. Roquette Freres
4.4.8. Vippy Industries Ltd
4.4.9. Vitasoy International Holdings Ltd
5. KEY STRATEGIC QUESTIONS FOR MEAT SUBSTITUTES INDUSTRY CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter鈥檚 Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- TEMPEH PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 2:
- TEXTURED VEGETABLE PROTEIN PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 3:
- TOFU PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 4:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- VOLUME OF MEAT SUBSTITUTES MARKET BY TYPE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VALUE OF MEAT SUBSTITUTES MARKET BY TYPE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VOLUME SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 9:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 10:
- VOLUME OF TEMPEH MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VALUE OF TEMPEH MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VALUE SHARE OF TEMPEH MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 13:
- VOLUME OF TEXTURED VEGETABLE PROTEIN MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VALUE OF TEXTURED VEGETABLE PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- VALUE SHARE OF TEXTURED VEGETABLE PROTEIN MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 16:
- VOLUME OF TOFU MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 17:
- VALUE OF TOFU MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE SHARE OF TOFU MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 19:
- VOLUME OF OTHER MEAT SUBSTITUTES MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF OTHER MEAT SUBSTITUTES MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE SHARE OF OTHER MEAT SUBSTITUTES MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 22:
- VOLUME OF MEAT SUBSTITUTES MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 23:
- VALUE OF MEAT SUBSTITUTES MARKET BY DISTRIBUTION CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VOLUME SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 25:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 26:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA OFF-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA OFF-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 29:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 30:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA CONVENIENCE STORES, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA CONVENIENCE STORES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 32:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SOLD VIA CONVENIENCE STORES SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 33:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA ONLINE CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA ONLINE CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 35:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SOLD VIA ONLINE CHANNEL SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 36:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 38:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 39:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA OTHERS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 40:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA OTHERS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 41:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SOLD VIA OTHERS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 42:
- VOLUME OF MEAT SUBSTITUTES MARKET SOLD VIA ON-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 43:
- VALUE OF MEAT SUBSTITUTES MARKET SOLD VIA ON-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 44:
- VOLUME OF MEAT SUBSTITUTES MARKET BY COUNTRY, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 45:
- VALUE OF MEAT SUBSTITUTES MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VOLUME SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 47:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 48:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, AUSTRALIA, 2017 - 2029
- Figure 49:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 50:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AUSTRALIA, 2022 VS 2029
- Figure 51:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, CHINA, 2017 - 2029
- Figure 52:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, CHINA, 2017 - 2029
- Figure 53:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, CHINA, 2022 VS 2029
- Figure 54:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, INDIA, 2017 - 2029
- Figure 55:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, INDIA, 2017 - 2029
- Figure 56:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDIA, 2022 VS 2029
- Figure 57:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, INDONESIA, 2017 - 2029
- Figure 58:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, INDONESIA, 2017 - 2029
- Figure 59:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDONESIA, 2022 VS 2029
- Figure 60:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, JAPAN, 2017 - 2029
- Figure 61:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, JAPAN, 2017 - 2029
- Figure 62:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, JAPAN, 2022 VS 2029
- Figure 63:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, MALAYSIA, 2017 - 2029
- Figure 64:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 65:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MALAYSIA, 2022 VS 2029
- Figure 66:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, SOUTH KOREA, 2017 - 2029
- Figure 67:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 68:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 69:
- VOLUME OF MEAT SUBSTITUTES MARKET, METRIC TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 70:
- VALUE OF MEAT SUBSTITUTES MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 71:
- VALUE SHARE OF MEAT SUBSTITUTES MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 72:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 73:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 74:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-Pacific Meat Substitutes Industry Segmentation
Tempeh, Textured Vegetable Protein, Tofu are covered as segments by Type. Off-Trade, On-Trade are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, South Korea are covered as segments by Country.
- The Asia-Pacific meat substitutes market witnessed significant growth, recording a CAGR of 9.84% by value over 2017-2022. China has the largest consumption of meat substitutes in Asia-Pacific, followed by India and Japan. In China, the growth is primarily led by the popularity of plant-based meat and protein alternatives. By introducing new dietary guidelines in 2021, the Chinese government announced plans to lower its citizens' meat consumption by 50%. The country's health ministry recommended that an individual consume only between 40 g and 75 g of meat each day. The measures aim to enhance public health while simultaneously attempting to significantly reduce GHG emissions.
- The consumption of meat substitutes has continued to progress over the years, owing to the growing adoption of diets like veganism. In 2022, the sales value of meat substitutes grew by 34.56% by value over 2019. Asian producers of plant-based meat reported record sales as customers looked for healthy alternatives against animal or dairy sources for daily nutrient requirements. Four of the top five global vegetarian markets are in Asia. As of 2020, the top Asian vegetarian population was spread over the following countries: India (29.8%), Indonesia (25.4%), Pakistan (16.8%), and China (3.8%).
- The fastest-growing segment type is tempeh, which is projected to register a CAGR of 13.40% by value during the forecast period. Due to rising demand from consumers and investors, the meat substitute market in Asia is predicted to experience rapid growth. The emergence of new entrants and startups in the region is a positive sign for this trend, along with supportive governments trying to meet their targets for reducing GHG emissions.
| Type | |
| Tempeh | |
| Textured Vegetable Protein | |
| Tofu | |
| Other Meat Substitutes |
| Distribution Channel | ||||||
| ||||||
| On-Trade |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| South Korea | |
| Rest of Asia-Pacific |
Need A Different Region Or Segment?
Customize Now
Market Definition
- Meat Substitutes - It is a food product made from vegetarian or vegan ingredients, eaten as a replacement for meat. Meat substitutes typically approximate qualities of specific types of meat, such as mouthfeel, flavor, appearance, or chemical characteristics.鈥�
- Tempeh - It is a high protein Asian food prepared by fermenting soybeans with a Rhizopus.鈥�
- Textured Vegetable Protein - Food items made from consumable protein sources like soybean, pea, wheat, hemp, etc., are known as textured vegetable proteins. Each unit will withstand hydration during cooking and other processes used in preparing the food for consumption because it has structural integrity and a distinguishable texture.鈥�
- Tofu - Tofu is a soft food product prepared by treating soybean milk with coagulants.鈥�
| Keyword | Definition |
|---|---|
| A5 | It is a Japanese grading system for beef. The 'A' means the carcass yield is the highest possible and the numeric rating relates to beef marbling, color and brightness of the flesh, its texture and color, luster, and fat quality. A5 is the highest mark wagyu beef can score. |
| Abbatoir | It is another name for a slaughterhouse and refers to the premise used for or in connection with the slaughter of animals whose meat is intended for human consumption. |
| Acute Hepatopancreatic Necrosis Disease (AHPND) | It is a disease that affects shrimp and is characterized by high mortalities, in many cases reaching 100% within 30-35 days of stocking grow-out ponds. |
| African Swine Fever (ASF) | It is a highly contagious viral disease of pigs caused by a double-stranded DNA virus in the Asfarviridae family. |
| Albacore Tuna | It is one of the smallest species of tuna found in the six distinct stocks known globally in the Atlantic, Pacific, and Indian oceans, as well as the Mediterranean Sea. |
| Angus beef | It is beef derived from a specific breed of cattle indigenous to Scotland. It requires certification from the American Angus Association to receive the "Certified Angus Beef" quality mark |
| Bacon | It is salted or smoked meat that comes from the back or sides of a pig |
| Black Angus | It is beef derived from a black-hided breed of cows that don't have horns. |
| Bologna | It is an Italian smoked sausage made of meat, typically large and made from pork, beef or veal. |
| Bovine spongiform encephalopathy (BSE) | It is a progressive neurological disorder of cattle that results from infection by an unusual transmissible agent called a prion. |
| Bratwurst | It refers to a type of German sausage made from pork, beef or veal. |
| BRC | British Retail Consortium |
| Brisket | It is a cut of meat from the breast or lower chest of beef or veal. The beef brisket is one of the nine beef primal cuts. |
| Broiler | It refers to any chicken (Gallus domesticus) that is bred and raised specifically for meat production. |
| Bushel | It is a unit of measurement for grains and pulses. 1 bushel = 27.216 kg |
| Carcass | It refers to the dressed body of a meat animal from which butchers trim the meat |
| CFIA | Canadian Food Inspection Agency |
| Chicken Tender | It refers to chicken meat prepared from the pectoralis minor muscles of a chicken bird. |
| Chuck Steak | It refers to a cut of beef that is part of the chuck primal, which is a large section of meat from the shoulder area of a cow |
| Corned Beef | It refers to beef brisket cured in brine and boiled, typically served cold. |
| CWT | Also known as a hundredweight, it is a unit of measurement used to define the quantity of meat. 1 CWT = 50.80 kg |
| Drumstick | It refers to a chicken leg without the thigh. |
| EFSA | European Food Safety Authority |
| ERS | Economic Research Service of the USDA |
| Ewe | It is an adult female sheep. |
| FDA | Food and Drug Administration |
| Fillet Mignon | It is a cut of meat taken from the smaller end of the tenderloin. |
| Flank Steak | It is a cut of beef steak taken from the flank, which lies forward of the rear quarter of a cow. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Forage | It refers to animal feed. |
| Foreshank | It is the upper part of the foreleg of cattle |
| Franks | Also known as frankfurter or W眉rstchen, it is a type of highly seasoned smoked sausage popular in Austria and Germany. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gizzard | It refers to an organ found in the digestive tract of birds. It is also called the mechanical stomach of a bird. |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley |
| Grain-fed beef | It is beef derived from cattle that have been fed a diet supplemented with soy and corn and other additives. Grainfed cows can also be given antibiotics and growth hormones to fatten them up more quickly. |
| Grass-fed beef | It is beef derived from cattle that have only been fed grass as feed. |
| Ham | It refers to the pork meat taken from the leg of a pig. |
| HoReCa | Hotels, Restaurants and Cafes |
| Jerky | It is lean trimmed meat that has been cut into strips and dried (dehydrated) to prevent spoilage. |
| Kobe Beef | It is Wagyu beef specifically from the Kuroge Washu breed of cows in Japan. To be classified as Kobe beef, the cow must have been born, raised, and slaughtered within the Hy艒go prefecture in the city of Kobe in Japan. |
| Liverwurst | It is type of German sausage made from beef or pork liver. |
| Loin | It refers to the sides between the lower ribs and pelvis, and the lower part of the back of a cow. |
| Mortadella | It is a large Italian sausage or luncheon meat made of finely hashed or ground heat-cured pork, which incorporates at least 15% small cubes of pork fat. |
| Pastrami | It refers to a highly seasoned smoked beef, typically served in thin slices. |
| Pepperoni | It is an American variety of spicy salami made from cured meat. |
| Plate | It refers to a forequarter cut from the belly of a cow, just below the rib cut. |
| Porcine reproductive and respiratory syndrome (PRRS) | It is a disease occurring in swine causing late-term reproductive failure and severe pneumonia in neonatal pigs. |
| Primal cuts | It refers to the major sections of the carcass. |
| Quorn | It is a meat substitute product prepared using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten |
| Retort Packaging | It is a process of aseptic packaging food in which food is filled into a pouch or metal can, sealed, and then heated to extremely high temperatures, rendering the product commercially sterile. |
| Round Steak | It refers to a beef steak from the the rear leg of the cow. |
| Rump Steak | It refers to a cut of beef derived from the division between the leg and the chine. |
| Salami | It is a cured sausage consisting of fermented and air-dried meat. |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Scallop | It is an edible shellfish that is a mollusk with a ribbed shell in two parts. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Self-service kios | It refers to a self-order point-of-sale (POS) system through which customers place and pay for their own orders at kiosks, enabling totally contactless and frictionless service. |
| Sirloin | It is a cut of beef from the bottom and side parts of a cow's back. |
| Surimi | It is a paste made from deboned fish |
| Tenderloin | It refers to a cut of beef consisting of the entire tenderloin muscle of a cow |
| Tiger Shrimp | It refers to a large shrimp variety from the Indian and Pacific oceans |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| Vannamei shrimp | It refers to tropical prawns and shrimp that are farmed in areas near the equator, generally along the coast in artificial ponds. |
| Wagyu Bee | It is beef derived from any of four strains of a breed of black or red Japanese cattle that are valued for their highly marbled meat. |
| Zoosanitary | It refers to the cleanliness of animals or animal product |
Need More Details on Market Definition?
Ask a Question
Research Methodology
糖心vlog传媒 follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.鈥�
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.鈥�
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.鈥�
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
Get More Details On Research Methodology
Download PDF
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
