A new report about the global meat substitutes market has been released by Planet Market Reports. The global meat substitutes market was valued at USD 4.05 billion in 2016. Growing at a CAGR of 6.3% from 2017 to 2025 it is expected to reach USD 7.02 billion by 2025.
According to the report, the rising sales of meat substitutes are owing to the growing concerns regarding the quality of meat, along with the growing popularity of veganism in North America and Europe. The expansion of retail chains in developing countries is also expected to drive future consumption.
The report also names the major players in the global meat substitutes market: MorningStar Farms LLC, Archer Daniels Midland Company, Quorn Foods, EI Du Pont De Nemours, Amy’s Kitchen, Beyond Meat, Garden Protein International Inc., The Nisshin Ollio Group Ltd, MGP Ingredients, and Sonic Biochem Extractions Ltd.