Meat Substitutes Market by Type and Geography - Forecast and Analysis 2021-2025

The meat substitutes market share is expected to increase by USD 2.15 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 10.41%. This meat substitutes market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The meat substitutes market report also offers information on several market vendors, including Beyond Meat Inc., Ecozone UK Ltd., Gathered Foods Corp., Impossible Foods Inc., Maple Leaf Foods Inc., Monde Nissin Corp., The Kraft Heinz Co., The Tofurky Co. Inc., Tyson Foods Inc., and Unilever Group among others. Furthermore, this report extensively covers meat substitutes market segmentation by type (soy-based, wheat-based, mycoprotein-based, and others) and geography (North America, Europe, APAC, South America, and MEA).

What will the Meat Substitutes Market Size be During the Forecast Period?

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Meat Substitutes Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a POSITIVE impact on the market growth during and post COVID-19 era. The new product launches are notably driving the meat substitutes market growth, although factors such as the increasing availability of generic drugs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the meat substitutes market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Meat Substitutes Market Driver

One of the key factors driving the antimicrobial therapeutics market is the recent drug approvals and robust pipeline. With the increase in the prevalence and incidence of microbial diseases, there is a high unmet need to develop pipeline drugs with innovative disease-modifying agents. Moreover, the major microbial diseases include malaria, tuberculosis, HIV/AIDS, influenza, hepatitis, and aspergillosis. Furthermore, the ongoing R&D of new drugs and vaccines is resulting in a strong drug pipeline for the treatment of microbial diseases. For instance, F2G is a rare fungal disease company, which uses a leading molecule Olorofim for the treatment of Aspergillus. The pipeline also has several other drugs for the treatment of infectious diseases. In October 2019, the US FDA approved Xofluza (baloxavir marboxil) developed by F. Hoffmann-La Roche Ltd. the drug is indicated for the treatment of acute, uncomplicated influenza, or flu in individuals aged 12 years and above, who have been symptomatic of no more than 48 hours and who are at the high risk of developing flu-related complications. Similarly, in August 2019, the US FDA granted Xenleta (Lefamulin) approval to treat adults with community-acquired bacterial pneumonia. The expansion of the antimicrobial portfolio will drive the growth of the global antimicrobial therapeutics market during the forecast period.

Key Meat Substitutes Market Trend

An increase in the R&D of therapeutic vaccines is another factor supporting the antimicrobial therapeutics market growth in the forecast period. The increase in the prevalence of microbial diseases has driven the demand for therapeutic vaccines. The market has witnessed increased development of vaccines by top vendors of the market. For instance, Nexvax2, a vaccine developed by ImmusanT for the treatment of celiac disease, is currently in Phase II clinical trials. In January 2019, the US FDA granted Fast Track designation to Nexvax2. Currently, there is no US FDA-approved treatment for celiac disease. Therefore, the Fast Track designation will lead to the accelerated development of Nexvax2. Furthermore, Bavarian Nordic AS (Bavarian Nordic) is developing a three-vaccine regimen based on Johnson & Johnson AdVac technology (Ad26.HPV16, Ad26.HPV18) and Bavarian Nordic's MVA-BN technology (MVA.HPV16/18) to treat females with chronic infections with high-risk subtypes of the HPV. The regimen is currently in Phase I/II clinical trials. Also, there are several other vaccines, which are under development.

Key Meat Substitutes Market Challenge

The increasing availability of generic drugs will be a major challenge for the antimicrobial therapeutics market during the forecast period. Vendors are focusing on manufacturing low-cost alternative drugs due to patent expiry and loss of exclusivity of a drug, which, in turn, reduces the sales of approved drugs. The global antimicrobial therapeutics market is fully saturated with generic formulations. Moreover, the cost of generic drugs, vaccines, antibiotics, and biosimilars is less than that of branded drugs. For instance, the patent for NOXAFIL expired in January 2020. In June 2018, Posaconazole injection, a generic drug, was launched by NATCO Pharma Ltd. in India. However, the launch of generic antifungal injections had led to a decline in sales of NOXAFIL. Furthermore, Gilead is expected to launch authorized generics of Epclusa (Sofosbuvir/Velpatasvir) and Harvoni (Ledipasvir/Sofosbuvir) for the treatment of chronic Hepatitis C with a price of $24,000; nearly 75% lesser than branded drugs.

This meat substitutes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global antimicrobial therapeutics market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the meat substitutes market during the forecast period.

Who are the Major Meat Substitutes Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Beyond Meat Inc.
• Ecozone UK Ltd.
• Gathered Foods Corp.
• Impossible Foods Inc.
• Maple Leaf Foods Inc.
• Monde Nissin Corp.
• The Kraft Heinz Co.
• The Tofurky Co. Inc.
• Tyson Foods Inc.
• Unilever Group

This statistical study of the meat substitutes market encompasses successful business strategies deployed by the key vendors. The meat substitutes market is fragmented and the vendors are deploying growth strategies such as price, quality, technology, brand identity, and distribution to compete in the market.

Product Insights and News

• AbbVie Inc. - The company offers NORVIR, it contains ritonavir and is indicated for the treatment of HIV.
• Novartis AG - The company offers Egaten, which contains triclabendazole and is indicated for the treatment of fascioliasis in patients six years of age and older.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The meat substitutes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Meat Substitutes Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the meat substitutes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global antimicrobial therapeutics market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

Which are the Key Regions for Meat Substitutes Market?

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43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the meat substitutes market in North America. Market growth in this region will be faster than the growth of the market in other regions.

A rise in the number of microbial diseases in North American countries will facilitate the meat substitutes market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The rising incidence of viral infections such as influenza, hepatitis, COVID-19, and HIV/AIDS drive the segment. One of the major factors driving the market includes the robust pipeline of antibacterial and antiviral drugs. An increase in the usage of antibacterial and antiviral drugs leads to the development of pipeline drugs and novel therapies with new targets and mechanisms of action.

What are the Revenue-generating Type Segments in the Meat Substitutes Market?

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The meat substitutes market share growth by the soy-based segments. Furthermore, the soy-based segment will be significant during the forecast period. Soy used in meat substitutes is extracted from soya beans and has received increased attention in recent years owing to the multiple health benefits associated with it. The nutrient composition of soy protein comprises 30% carbohydrate, 38% protein, 18% fat, and 14% moisture. With more people embracing veganism and vegetarianism, the soy protein market will grow during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the meat substitutes market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Meat Substitutes Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive meat substitutes market growth during the next five years
• Precise estimation of the meat substitutes market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the meat substitutes industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of meat substitutes market vendors

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