Chicago, Nov. 25, 2022 (GLOBE NEWSWIRE) — According to MarketsandMarkets, the meat substitutes market size is estimated to be valued at USD 1.9 billion in 2021 and is projected to reach USD 4.0 billion by 2027, recording a CAGR of 13.5% during the forecast period in terms of value. Changing lifestyles of people and increasing awareness about healthy dietary habits and environmental safety will help to boost the market for meat substitutes during the forecast period. The environmental impact of animal agriculture and rising health problems due to animal-based meat are driving consumer preference toward plant-based meat in the world.
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The solid form segment is estimated to hold the largest market share in the meat substitute market.
The solid form of proteins is preferred by manufacturers of food and beverages because of the numerous benefits they offer. Proteins available in the solid form are easy to handle and have better storage conditions as compared to the liquid form. These proteins are available in powdered and textured forms. Solid plant-based proteins could enhance the texture and volume of different products.
By type, the pea protein segment is estimated to be the fastest-growing segment during the forecast period.
Pea offers characteristic advantages of process stability, emulsion stability, and extrusion stability. Many of the key players in the global meat substitutes market are shifting toward the production of pea protein-based meat substitutes because of their nutritional value and health benefits and the adoption of this protein by major plant-based manufacturers. In May 2019, Lightlife …