Meat Substitute Market by Product Type (Tofu, TVP, Burger Patties, Sausages, Meatballs, Nuggets), Source (Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) - Global Forecast To 2027

  • Report ID:MRFB - 104267
  • Pages: 157
  • Sep 2020
  • Formats*: PDF
  • Category: Food & Beverages
  • Delivery: 2 to 4 Hours

1. Introduction    
      1.1. Market Ecosystem    
      1.2. Currency    
      1.3. Key Stakeholders    

2. Research Methodology    
      2.1. Research Approach    
      2.2. Data Collection & Validation    
              2.2.1. Secondary Research    
              2.2.2. Primary Research    
      2.3. Market Assessment    
              2.3.1. Market Size Estimation    
                         2.3.1.1. Bottom-Up Approach    
                         2.3.1.2. Top-Down Approach    
                         2.3.1.3. Growth Forecast    
              2.3.2. Market Share Analysis    
      2.4. Assumptions for the Study
      2.5. Limitations for the Study

3. Executive Summary    
      3.1. Introduction    
      3.2. Market Dynamics    
      3.3. Segmental Analysis    
              3.3.1. Market, by Product Type Analysis    
              3.3.2. Market, by Source Analysis    
              3.3.3. Market, by Distribution Channel Analysis    
              3.3.4. Regional Analysis    
              3.3.5. Competitive Landscape and Key Market Competitors    

4. Market Insights    
      4.1. Introduction    
      4.2. Drivers    
              4.2.1. Increasing Incidence of Intolerance for Animal Protein    
              4.2.2. Growing Urbanization of Plant Based Products with New Consumer Aspirations    
              4.2.3. Significant Venture Investments in Meat Substitute    
              4.2.4. Increasing Vegan Population    
      4.3. Restraints    
              4.3.1. Some of the Meat Substitute Have Comparatively Higher Price Range    
              4.3.2. Significant Preference for Animal Based Products    
              4.3.3. Consumer Preference to Soy and Gluten Free Products    
      4.4. Opportunities    
              4.4.1. Research & Development and New Product Launches by Plant and Protein Alternative Manufacturers    
              4.4.2. Emerging Economies- Asia-Pacific, Latin America, and Middle East and Africa    
      4.5. Trends    
              4.5.1. Rising Industry Concentration with Growth in Mergers and Acquisitions in the Meat Substitute Space    

5. COVID-19 Impact Analysis on Meat Substitute Market    

6. Investment and Funding Scenario in the Meat Substitute Market    
      6.1. Introduction    
      6.2. Investments/Funding Scenario    

7. Global Meat Substitute Market, by Product Type    
      7.1. Introduction    
      7.2. Tofu    
      7.3. TVP
      7.4. Tempeh
      7.5. Seitan    
      7.6. Burger Patties    
      7.7. Sausages    
      7.8. Ground Meat    
      7.9. Meatballs    
      7.10. Nuggets    
      7.11. Crumbles    
      7.12.  Others    

8. Global Meat Substitute Market, by Source    
      8.1. Introduction    
      8.2. Soy Protein    
      8.3. Almond Protein    
      8.4. Wheat Protein    
      8.5. Pea Protein    
      8.6. Rice Protein    
      8.7. Others    

9. Global Meat Substitute Market, by Distribution Channel    
      9.1. Introduction    
      9.2. Business to Business    
      9.3. Business to Customers    
              9.3.1. Modern Groceries
              9.3.2. Convenience Store    
              9.3.3. Specialty Store
              9.3.4. Online Retail    
              9.3.5. Others    

10. Meat Substitute Market, by Geography    
       10.1. Introduction    
       10.2. North America    
              10.2.1. U.S.    
              10.2.2. Canada    
       10.3. Europe    
              10.3.1. U.K.    
              10.3.2. Germany    
              10.3.3. France    
              10.3.4. Italy    
              10.3.5. Spain    
              10.3.6. Rest of Europe    
       10.4. Asia-Pacific    
              10.4.1. China    
              10.4.2. Japan    
              10.4.3. India    
              10.4.4. Rest of Asia-Pacific    
       10.5. Latin America    
       10.6. Middle East and Africa    

11. Competitive Landscape    
       11.1. Introduction    
       11.2. Key Growth Strategies    
       11.3. Competitive Benchmarking    

12. Company Profiles    
       12.1. Beyond Meat Inc.    
       12.2. Impossible Foods Inc.    
       12.3. Garden Protein International Inc.
       12.4. Amy's Kitchen, Inc.    
       12.5. The Hain Celestial Group, Inc.    
       12.6. Sahmyook Foods    
       12.7. Axiom Foods Inc.    
       12.8. Lightlife Foods, Inc.    
       12.9. Marlow Foods Ltd. (U.K.)
       12.10. Taifun-Tofu GmbH    
       12.11. Atlantic Natural Foods, Llc    
       12.12. Vbite Food Ltd    
       12.13. Nutrisoy Pty Ltd    

13. Appendix    
       13.1. Questionnaire    
       13.2. Available Customization    

List of Tables

Table 1 Global Meat Substitute Market Drivers: Impact Analysis (2020–2027)    
Table 2 Global Meat Substitute Market Restraints: Impact Analysis (2020–2027)    
Table 3 List of Recent Merger and Acquisitions in Meat Substitute Space (2017-2020)    
Table 4  Price Comparison between Meat and Meatless Items at Fast-food Chains
Table 5 Global Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 6 Global Plant-Based Tofu Market Size, by Country/Region, 2018-2027 ($Million)
Table 7 Global Plant-Based TVP Market Size, by Country/Region, 2018-2027 ($Million)
Table 8 Global Plant-Based Tempeh Market Size, by Country/Region, 2018-2027 ($Million)
Table 9 Global Plant-Based Seitan Market Size, by Country/Region, 2018-2027 ($Million)    
Table 10 Global Plant-Based Burger Patties Market Size, by Country/Region, 2018-2027 ($Million)
Table 10 Global Plant-Based Sausages Market Size, by Country/Region, 2018-2027 ($Million)
Table 12 Global Plant-Based Ground Meat Market Size, by Country/Region, 2018-2027 ($Million)    
Table 13 Global Plant-Based Meatballs Market Size, by Country/Region, 2018-2027 ($Million)
Table 14 Global Plant-Based Nuggets Market Size, by Country/Region, 2018-2027 ($Million)
Table 15 Global Plant-Based Crumbles Market Size, by Country/Region, 2018-2027 ($Million)
Table 16 Global Other Plant-Based Meat Substitutes Market Size, by Country/Region, 2018-2027 ($Million)    
Table 17 Global Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 18 Global Soy Protein Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 19 Global Almond Protein Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 20 Global Wheat Protein Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 21 Global Pea Protein Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 22 Global Rice Protein Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 23 Global Other Protein Sources Derived Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)
Table 24 Global Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 25 Global Business to Business: Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 26 Global Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 27 Global Business to Consumers: Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)    
Table 28 Global Meat Substitute Market Size through Modern Groceries, by Country/Region, 2018-2027 ($Million)    
Table 29 Global Meat Substitute Market Size through Convenience Stores, by Country/Region, 2018-2027 ($Million)
Table 30 Global Meat Substitute Market Size through Specialty Store, by Country/Region, 2018-2027 ($Million)    
Table 31 Global Meat Substitute Market Size through Online Retail, by Country/Region, 2018-2027 ($Million)    
Table 32  Global Meat Substitute Market Size through Others B2C Channel, by Country/Region, 2018-2027 ($Million)
Table 33  Global Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)
Table 34  Europe: Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)
Table 35  Europe: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 36  Europe: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 37  Europe: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 38  Europe: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 39 U.K.: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 40 U.K.: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 41 U.K.: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 42 U.K.: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)  
Table 43 Germany: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 44 Germany: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 45 Germany: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 46 Germany: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 47 France: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 48 France: Meat Substitute Market Size, by Source, 2018-2027 ($Million)
Table 49 France: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 50 France: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 51 Italy: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 52 Italy: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 53 Italy: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 54 Italy: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 55 Spain: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 56 Spain: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 57 Spain: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 58 Spain: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 59 Rest of Europe: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 60 Rest of Europe: Meat Substitute Market Size, by Source, 2018-2027 ($Million)
Table 61 Rest of Europe: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 62 Rest of Europe: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 63 North America: Meat Substitute Market Size, by Country, 2018-2027 ($Million)    
Table 64 North America: Meat Substitutes Market Size, by Type, 2018-2027 ($Million)    
Table 65 North America: Meat Substitute Market Size, by Source, 2018-2027 ($Million)
Table 66 North America: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 67 North America: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 68 U.S.: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 69 U.S.: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 70 U.S.: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 71 U.S.: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 72 Canada: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 73 Canada: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 74 Canada: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 75 Canada: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 76 Asia-Pacific: Meat Substitute Market Size, by Country/Region, 2018-2027 ($Million)
Table 77 Asia-Pacific: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 78  Asia-Pacific: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 79 Asia-Pacific: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 80 Asia-Pacific: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 81 China: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 82 China: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 83 China: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 84 China: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 85 Japan: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 86 Japan: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 87 Japan: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)
Table 88 Japan: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 89 India: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 90 India: Meat Substitute Market Size, by Source, 2018-2027 ($Million)    
Table 91 India: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 92 India: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 93 Rest of Asia-Pacific: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 94 Rest of Asia-Pacific: Meat Substitute Market Size, by Source, 2018-2027 ($Million)
Table 95 Rest of Asia-Pacific: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 96 Rest of Asia-Pacific: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 97 Latin America: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)
Table 98 Latin America: Meat Substitute Market Size, by Source, 2018-2027 ($Million)
Table 99 Latin America: Meat Substitute Market Size, by Distribution Channel, 20182027 ($Million)    
Table 100 Latin America: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 101 Middle East and Africa: Meat Substitute Market Size, by Product Type, 2018-2027 ($Million)    
Table 102 Middle East and Africa: Meat Substitute Market Size, by Source, 2018-2027 ($Million
Table 103 Middle East and Africa: Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    
Table 104 Middle East and Africa: Business to Customers Meat Substitute Market Size, by Distribution Channel, 2018-2027 ($Million)    

List of Figures

Figure 1Research Process    
Figure 2 Key Secondary Sources    
Figure 3 Primary Research Techniques    
Figure 4 Key Executives Interviewed    
Figure 5 Breakdowns of Primary Interviews (Supply Side & Demand Side)    
Figure 6 Market Sizing and Growth Forecast Approach    
Figure 7 Tofu Segment Accounted For the Largest Share of the Market    
Figure 8 Pea Proteins to Witness the Highest CAGR During the Forecast Period    
Figure 9 B2C Distribution Channel to Witness Significant Growth during the Forecast Period
Figure 10 Global Meat Substitute Market Scenario, by Geography, 2019    
Figure 11 Market Dynamics    
Figure 12 A Lighthouses for the Future Food Consumption    
Figure 13 Leading Meat Producers Hedge against Animal Free Future    
Figure 14 Current Prices of Different Food Types    
Figure 15 Global Meat Substitute Market Size, By Type, 2020-2027 ($Million)
Figure 16 Global Meat Substitute Market Size, By Source, 2020-2027 ($Million)
Figure 17 Meat Substitute: Value Chain with Key Business Activities and Players Within    
Figure 18 Global Meat Substitute Market Size, by Distribution Channel, 2020-2027 ($Million)
Figure 19 Global B2C Meat Substitute Market Size, by Type, 2020-2027 ($Million)    
Figure 20 Global Meat Substitute Market Size, by Region, 2020-2027 ($Million)
Figure 21 Market Dynamics: European Alternative Protein Market    
Figure 22 Europe: Meat Substitute Market Snapshot    
Figure 23 Numbers of Vegans in The U.K., 2014-2018 (In Thousands)    
Figure 24 Veganism Trends in the U.K.    
Figure 25 North America: Meat Substitute Market Snapshot    
Figure 26 Meat Substitute Retail Sales in the U.S., 2017-2019 ($Billion)
Figure 27 Asia-Pacific: Meat Substitute Market Snapshot    
Figure 28 Challenges Faced by Latin American Meat Substitute Market    
Figure 29 Key Growth Strategies Adopted By Leading Players, 2016-2020    
Figure 30 Meat Substitute Market: Competitive Benchmarking, by Product
Figure 31 Beyond Meat, Inc.: Financial Overview (2017-2019)    
Figure 32 Conagra Brands, Inc.: Financial Overview (2017-2019)    
Figure 33 The Hain Celestial Group, Inc.: Financial Overview (2017-2019)    

COVID-19

This report provides pre & post COVID-19 market estimates

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Global Meat Substitute Market is expected to reach $17.5 billion by 2027, at a CAGR of 15.1% during the forecast period of 2020 to 2027. Due to the COVID-19 pandemic, there has been an exponential rise in demand for healthy protein foods. In addition, rising intolerance for animal protein, rising awareness about a healthy diet, increasing vegan population, and rising venture capital investments are the major factors accelerating the growth of this market. Moreover, the growing focus on R&D and new product launches by alternative protein manufacturers and growing demand from emerging economies are expected to create lucrative opportunities for players operating in this market.

Impact of COVID-19 on the Meat Substitute Market

The COVID-19 pandemic has affected more than 200 countries infecting more than 11,874,226 people and killing 545,481 as of 9th July 2020 (Source: European Centre for Disease Prevention and Control). This current situation has had a substantial impact on the traditional meat processing industry, which has led to many slaughterhouses closing shops due to disruption of the supply chain.

The meat supply in the U.S. is expected to be flogged by the COVID-19 outbreak, as major meat plants have been taken offline as factory workers have tested positive for the virus. It is estimated that meat plants responsible for 10% of all beef production in the U.S. and 25% of all pork production have closed in early 2020, with this having the potential to disrupt meat supply chains and lead to shortages. This potential shortage of meat supply is already leading to augment consumer demand for meat substitute in the U.S., with meat substitute sales reported to have jumped 200% in the country in April, compared to last year.

Meat Substitute Market

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Consumer Preference for Soy and Gluten-free Products

The “free-from” is one of the fastest-growing trends in niche foods. Soy and a gluten-free diet has quickly become the fastest-growing nutritional movements, which is gaining popularity for its health and therapeutic benefits. The increase in the use of soy and gluten-free food products is mainly attributed to rising food sensitivities, regional dietary preferences, and increasing diagnosis of coeliac diseases. For instance, many people have allergies and intolerance of soy protein resulting in eye irritation, stomach upsets, and other symptoms, which in some cases require hospitalization.

The increasing demand for gluten-free products is mainly associated with increasing instances of diseases. However, the number of people who actually need to avoid gluten for medical reasons is relatively small. As a result, some of the people are avoiding food products containing or fortified with soy and wheat ingredients. Thus, rising consumer preference towards soy-free food products across the globe restricts the growth of the soy and wheat protein-based meat substitutes market to some extent.

Key Findings in the Global Meat Substitute Market Study:

In 2020, the plant-based tofu segment dominated the global meat substitute market.

Based on product type, the tofu segment accounted for the largest share of the market due to its low cost, easy availability, and presence of a wide variety of tofu types and flavors. However, the burger patties segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing popularity and new product launches in the plant-based burger patties segment and their increasing availability in many restaurants.

The pea protein segment to witness the fastest growth during the forecast period.

Based on source, the pea protein segment is expected to grow at the fastest CAGR during the forecast period due to growing consumer desire to find sustainable and good tasting alternatives to animal-based proteins and growing investments from leading manufacturers.

In 2020, the business to customers segment dominated the global meat substitute market.

Based on distribution channel, the B2C segment commanded the largest share of the global meat substitute market in 2020. The large share of this market is mainly attributed to the growing number of supermarkets & hypermarkets, consumers preference for shopping from brick-and-mortar grocers, and increasing consumer preference for vegan food products.

The Asia-Pacific market is poised to grow at the highest CAGR during the forecast period

On the basis of region, the global meat substitute market is segmented into North America, Europe, APAC, Latin America, and the Middle and Africa. The APAC region is expected to grow at the highest CAGR during the forecast period. The rapid growth in urbanization, rising income levels, and growing awareness about the benefits of protein diet in daily nutrition are the drivers for this market.

Key Players

The meat substitute market is highly fragmented in nature with the presence of many small and medium-sized private companies in the market. Some of the key vendors operating in the global meat substitute market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Axiom Foods (U.S.), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), and Nutrisoy Pty Ltd. (Australia).

Scope of the report

Meat Substitute Market, by Product Type

  • Tofu
  • TVP
  • Tempeh
  • Seitan
  • Burger Patties
  • Sausages
  • Ground Meat
  • Meatballs
  • Nuggets
  • Crumbles
  • Others

Meat Substitute Market, by Source

  • Soy Protein
  • Almond Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein
  • Others

Meat Substitute Market, by Distribution Channel

  • Business to Business
  • Business to Customers
    • Modern Groceries
    • Convenience Store
    • Specialty Store
    • Online Retail
    • Others

Meat Substitute Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • RoE
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • RoAPAC
  • Latin America
  • Middle East and Africa

Key questions answered in the report:

The global meat substitute market is projected to reach $17.5 billion by 2027, at a CAGR of 15.1% during the forecast period.
The plant-based tofu segment commanded the largest share of the overall meat substitute market in 2020. However, the plant-based burger patties segment is expected to grow at the fastest CAGR during the forecast period.
The soy protein segment is estimated to command the largest share of the overall meat substitute market in 2020. However, the pea protein segment is expected to grow with the fastest CAGR during the forecast period.
Based on distribution channel, the business-to-customers segment is projected to create more traction with the fastest CAGR during the forecast period, owing to the growing number of supermarkets & hypermarkets.
Rising number of vegan food product launches, increasing health concerns, increasing vegan & vegetarian population, rising investments in plant-based meat product facilities, and rising technological advancements are the key drivers of this market. However, growing demand from emerging Asia-Pacific and Latin American economies are expected to create lucrative opportunities for players operating in this market
The key players operating in the global meat substitute market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Garden Protein International, Inc. (Canada), Amy’s Kitchen Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Axiom Foods (U.S.), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), and Nutrisoy Pty Ltd. (Australia).
The emerging countries from Asia and Latin America are projected to offer significant growth opportunities for the vendors in this market due to rising shift of manufacturing industries to these regions with substantial availability of raw material, large population base, growing vegetarian population, and the increasing presence of global players.
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