Mycoprotein Meat Substitute Market Industrial Analysis And Growth Rate
Mycoprotein Meat Substitute © Mohan Patil
Market Introduction
Mycoprotein is derived from fermentation of Fusarium venenatum, the soil fungus. Fermented solids are mixed with wheat protein, egg whites, and other ingredients, which are pressed into meat like shapes and packed as meat substitutes for human consumption. It is commonly found in Quorn products, which includes a wide array of products ranging from Quorn burgers and sausages to chicken nuggets.
Drivers and Restraints
Increasing demand for mycoprotein, due to associated health benefits such as aids in improving digestive health, regulates blood pressure, and lowers cholesterol, which is a factor for growth of mycoprotein meat substitute market. Rising number of people suffering from various health issues such as high blood pressure, obesity, digestive disorders, and cardiovascular disorders are propelling demand for healthy food, which in turn is driving growth of the market, due to its aforementioned health benefits. According to the Centers for Disease Control and Prevention (CDC), in 2017, 36.5% of the adults in the U.S. were suffering from obesity. This is expected to aid in growth of the market.
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However, consumption of mycoprotein meat substitute results in adverse allergic reactions such as vomiting, nausea, and diarrhea, which is hindering growth of this market. According to the Center for Science in the Public Interest (CSPI), in December 2015, in the U.K., the percentage of consumers sensitive to mycoprotein meat substitute is greater as compared to that of the percentage sensitive to milk, soy, peanuts, and other food allergens. Furthermore, CSPI began collecting reports from affected consumers and nearly 1,692 people reported gastrointestinal reactions such as vomiting, nausea, cramping or diarrhea.
Market Trends
Refrigerated segment is expected to exhibit significant growth in the mycoprotein meat substitute market over the forecast period. This is attributed to increasing number of key players launching products in this segment that is a healthier option to full meat products. For instance, in September 2017, Quorn Foods, Inc.—a subsidiary of Monde Nissin Corporation—introduced a line of refrigerated products, which are meat and soy free, made with Quorn’s proprietary ingredient mycoprotein.
Online channels segment is significantly gaining traction, and is expected to exhibit high growth over the forecast period. This is attributed to online channels offering a wide range of products through a single website and option such as free delivery and various discounts. According to Coherent Market Insights, the global online retail segment was valued at US$ 2,171.22 billion in 2016 and is expected to reach US$ 9,572.96 billion by 2025.
Market Outlook
North America is projected to witness significant growth in the market over the forecast period. This is attributed to increasing consumer preference for meat substitutes and decreasing consumption of meat, owing to rising concern about animal welfare issues among consumers. According to United States Department of Agriculture, in 2014, the aggregate poultry, red meat, fish, edible basis fell to 181 pounds per person since 1983.
Asia Pacific is expected to be the fastest growing region in the market over the forecast period. This is owing to increasing number of key players focusing on expanding their presence in this region, owing to high consumer base. For instance, companies are focusing on mergers and acquisitions, in order to expand their market presence in the region. In November 2015, Monde Nissin Corp., a local food group acquired Quorn Foods, a U.K. based manufacturer of meat substitute to boost the company’s sales and expand their presence globally. With this acquisition, Monde Nissin Corp. launched Quorn, in Thailand, in March 2017 to provide health conscious Thai consumers a nutritious, delicious and sustainable meat alternative.
Key Trends
Key players are focusing on adopting various organic and inorganic growth strategies such as mergers and acquisitions, joint ventures and partnerships, and product or technological innovations to retain position in the global mycoprotein meat substitute market. For instance, in February 2017, Quorn Foods and Shakey’s Pizza Restaurant, partnered to introduce meat free pizza made from mycoprotein.
Market players
Some of the leading players operating in the global mycoprotein meat substitute market include The Archer Daniels Midland Company, Monde Nissin Corporation, VBites Foods Limited, DowduPont Inc., Soic Biochem Extractions Ltd., Pinnacle Foods Inc., MGP Ingredients Inc., Beyond Meat Inc., and Amy’s Kitchen Inc. among others.
For More Information @ https://www.coherentmarketinsights.com/ongoing-insight/mycoprotein-meat-substitute-market-1810
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Mycoprotein is derived from fermentation of Fusarium venenatum, the soil fungus. Fermented solids are mixed with wheat protein, egg whites, and other ingredients, which are pressed into meat like shapes and packed as meat substitutes for human consumption. It is commonly found in Quorn products, which includes a wide array of products ranging from Quorn burgers and sausages to chicken nuggets.
Drivers and Restraints
Increasing demand for mycoprotein, due to associated health benefits such as aids in improving digestive health, regulates blood pressure, and lowers cholesterol, which is a factor for growth of mycoprotein meat substitute market. Rising number of people suffering from various health issues such as high blood pressure, obesity, digestive disorders, and cardiovascular disorders are propelling demand for healthy food, which in turn is driving growth of the market, due to its aforementioned health benefits. According to the Centers for Disease Control and Prevention (CDC), in 2017, 36.5% of the adults in the U.S. were suffering from obesity. This is expected to aid in growth of the market.
Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/1810
However, consumption of mycoprotein meat substitute results in adverse allergic reactions such as vomiting, nausea, and diarrhea, which is hindering growth of this market. According to the Center for Science in the Public Interest (CSPI), in December 2015, in the U.K., the percentage of consumers sensitive to mycoprotein meat substitute is greater as compared to that of the percentage sensitive to milk, soy, peanuts, and other food allergens. Furthermore, CSPI began collecting reports from affected consumers and nearly 1,692 people reported gastrointestinal reactions such as vomiting, nausea, cramping or diarrhea.
Market Trends
Refrigerated segment is expected to exhibit significant growth in the mycoprotein meat substitute market over the forecast period. This is attributed to increasing number of key players launching products in this segment that is a healthier option to full meat products. For instance, in September 2017, Quorn Foods, Inc.—a subsidiary of Monde Nissin Corporation—introduced a line of refrigerated products, which are meat and soy free, made with Quorn’s proprietary ingredient mycoprotein.
Online channels segment is significantly gaining traction, and is expected to exhibit high growth over the forecast period. This is attributed to online channels offering a wide range of products through a single website and option such as free delivery and various discounts. According to Coherent Market Insights, the global online retail segment was valued at US$ 2,171.22 billion in 2016 and is expected to reach US$ 9,572.96 billion by 2025.
Market Outlook
North America is projected to witness significant growth in the market over the forecast period. This is attributed to increasing consumer preference for meat substitutes and decreasing consumption of meat, owing to rising concern about animal welfare issues among consumers. According to United States Department of Agriculture, in 2014, the aggregate poultry, red meat, fish, edible basis fell to 181 pounds per person since 1983.
Asia Pacific is expected to be the fastest growing region in the market over the forecast period. This is owing to increasing number of key players focusing on expanding their presence in this region, owing to high consumer base. For instance, companies are focusing on mergers and acquisitions, in order to expand their market presence in the region. In November 2015, Monde Nissin Corp., a local food group acquired Quorn Foods, a U.K. based manufacturer of meat substitute to boost the company’s sales and expand their presence globally. With this acquisition, Monde Nissin Corp. launched Quorn, in Thailand, in March 2017 to provide health conscious Thai consumers a nutritious, delicious and sustainable meat alternative.
Key Trends
Key players are focusing on adopting various organic and inorganic growth strategies such as mergers and acquisitions, joint ventures and partnerships, and product or technological innovations to retain position in the global mycoprotein meat substitute market. For instance, in February 2017, Quorn Foods and Shakey’s Pizza Restaurant, partnered to introduce meat free pizza made from mycoprotein.
Market players
Some of the leading players operating in the global mycoprotein meat substitute market include The Archer Daniels Midland Company, Monde Nissin Corporation, VBites Foods Limited, DowduPont Inc., Soic Biochem Extractions Ltd., Pinnacle Foods Inc., MGP Ingredients Inc., Beyond Meat Inc., and Amy’s Kitchen Inc. among others.
For More Information @ https://www.coherentmarketinsights.com/ongoing-insight/mycoprotein-meat-substitute-market-1810
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com