UNITED STATES MEAT SUBSTITUTES MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for meat substitutes in the US is anticipated to grow at a CAGR of 9.83%. With a CAGR of 4.49% from 2016 to 2021, the sales of meat alternatives in the US have significantly increased in recent years. Sales growth is mostly attributable to increased public awareness of the health risks associated with meat eating and the expanding availability of plant-based protein substitutes at most distribution centres across the nation. The market's tempeh sector was the fastest-growing, with a CAGR of 11.42% anticipated throughout the forecast period.

During the study period, textured vegetable protein was the most popular meat alternative in the US. While TVP has long been a component of both animal- and plant-based food items, it has recently emerged as the preferred ingredient among producers of meat substitutes. With its sales increasing by 10.71% from 2019 to 2021, TVP was shielded from the pandemic's disruption by the expanding demand for it. TVP's market value in the United States is anticipated to reach an estimated USD 1.81 billion by 2028 due to the fact that TVP is mostly purchased by large enterprises as a texturant for the development of plant-based meat substitutes.

Major Players: Amy's Kitchen, Inc., Beyond Meat Incorporated, Conagra Brands Incorporated, Impossible Foods Inc. and The Kellogg Company 


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