Top Companies in Meat Substitute Market In-depth Information; Your Key to Success

Market Overview:

Global Meat Substitute Market is valued at 1,845.20 USD Million in 2021 and is projected to reach a value of 3,821.26 USD Million by 2028 at a CAGR of 12.90% over the forecast period. The rise in demand for innovative products has driven product development across chilled, ambient, and frozen segments. Innovation provides a wider choice of products and brands to consumers and allows meat substitute products to gain improved shelf space and recognition. Supermarkets have responded to this growth in the Meat Substitute market and are significantly increasing the shelf space given to meat substitute products.

Innovations in plant-based proteins have had a positive influence on the development of meat substitute products. Manufacturers are infusing plant-based ingredients to produce meat alternatives, which has gained widespread acceptance among consumers. According to the European Regional Development Fund, 22% of UK consumers convey that they consume more protein from other sources rather than meat. For the millennial generation, the numbers have increased to 25%, indicating the high growth of the protein alternatives market in the country. This factor proves positive for this market and works in its favor due to the changing consumer preferences and the high adaptability rate among consumers. The increasing investments made by ingredient manufacturers are propelling the Meat Substitute market growth.

Following are the top 10 leading companies in the Meat Substitute market:

1. DuPont

DowDuPont, Inc. was established in 2017. Headquartered in the U.S., the company creates essential innovations by enabling connectivity & mobility, a healthy & active lifestyle, and urbanization & safety. The company provides their business facilities into various sectors such as Electronics & Industrial, Mobility & Materials and Water & Protection. The company delivers a broad range of technology-based products and solutions to the automotive, electronics, industrial, consumer, medical, photovoltaic, and telecom markets. The company aims to create water, shelter, and safety solutions for a more sustainable world.

2. ADM

Archer Daniels Midland Company owns and operates a grain elevator and transportation networks to procure, stores, clean, and transport agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, and barley. The Company’s operations are organized into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials. The Carbohydrate Solutions segment converts corn and wheat into products and ingredients used in the food and beverage industry, including sweeteners, corn and wheat starches, syrup, wheat flour, and dextrose. The Nutrition segment engages in the manufacturing, sale, and distribution of various ingredients and solutions, including plant-based proteins, flavor systems, natural colors, emulsifiers, soluble fiber, enzymes, and other specialty food and feed ingredients.

3. Kerry Group

Kerry Group is a leading player in the global food and beverage industry. The company is dedicated to making the world of food and beverage better for everyone and dedicated to their Purpose, Inspiring Food, and Nourishing Life. At Kerry, they are proud to provide their customers some of the world’s best-known food, beverage, and pharma brands with the expertise, insights, and know-how they need to deliver products that people enjoy and feel better about consuming. Kerry is a company rich in heritage and resources. Over the past five decades, the company's focus on changing lifestyles, the globalization of food tastes, and ever-evolving consumer needs have brought us to a market-leading global position. Today, the company is firmly established as a world leader in the food, beverage, and pharma industries, with 22,000+ staff and 150+ innovation and manufacturing centers across 30+ countries.

4. Ingredion Incorporated

Ingredion is a global ingredient solutions company making sweeteners, starches, and unique ingredients from plant sources such as corn, tapioca, rice, sago, and potato. They provide solutions and innovation for almost 60 industry sectors across more than 40 countries. Every day, they bring their skill, creativity, and passion together to deliver ingredient solutions that enhance people’s lives. They are innovators who combine the power of technology with the best of nature to delight customers and consumers. The company holds the highest standards in ethics, safety, quality, and sustainability. Unlocking the potential of people, nature, and technology to make life better is what drives companies in every aspect of their business.

5. Roquette Frères

Roquette is a global leader in plant-based ingredients, a pioneer of plant proteins, and a leading provider of pharmaceutical excipients. In collaboration with its customers and partners, the group addresses current and future societal challenges by unlocking the potential of nature to offer the best ingredients for food, nutrition, and health markets. These ingredients respond to unique and essential needs, enable healthier lifestyles, and are critical components of life-saving medicines. They are pleased to share with their 2020 Activity and Sustainable Development Report, which highlights key initiatives of the year in terms of Sustainability. They are also delighted to present people with their brand-new digital platform. All along the year, the company will be able to discover actions and initiatives led by Roquette and its employees to meet their Sustainable Development commitments.

6. PURIS

The PURIS end-to-end food system has grown over 30 years to benefit every link in the chain of food production. The company's model is a foundation for the health and happiness of Americans today, scalable to the needs of a growing planet tomorrow. PURIS unites satisfying flavor and texture with some of the highest protein of any plant-based food on the planet. By providing nutritionally equivalent alternatives to favorite foods made with only sustainable ingredients, their approach feeds health, happiness, and peace of mind.

7. Cargill

Cargill, Inc. was established in 1865. Headquartered in Minnesota, the company is a privately held American global food corporation. the company has frequently been the subject of criticism related to the environment, human rights, finance, and other ethical considerations. Some of Cargill's major businesses are trading, purchasing, and distributing grain and other agricultural commodities, such as palm oil; trading in energy, steel, and transport; raising of livestock and production of feed; and producing food ingredients such as starch and glucose syrup, vegetable oils and fats for application in processed foods and industrial use. The company has a large financial services arm, which manages financial risks in the commodity markets for the company.

8. Axiom Foods

Based out of California for over 15 years, Axiom Foods is the world’s first, largest, and most innovative source for rice and pea proteins in addition to other all-natural, plant-based ingredients. As a food technology leader innovating functional, nutrition-packed, vegan ingredients in large commercial quantities, the company works closely with the food, beverage, nutraceutical, and specialty foods industries. Axiom Foods team is dedicated to raising the bar with clinical trials, patented claims and the highest levels of quality from FDA GRAS, Non-GMO Project Verified and gluten-free, to highly concentrated plus neutral flavor and aroma.

9. Sonic Biochem Ltd

Sonic Biochem Ltd is a global leader in manufacturing Non-GMO Soya & Sunflower ingredients for processed food, meat, nutraceuticals, and health-care, feed & cosmetics products; produces tailor-made food ingredients and provides excellent solutions to various national & international food giants for better taste, shelf-life, and nutrition of their products. The company values namely, innovation and enhancing customer delight, led the company to manufacture various innovative Non-GMO soy and sunflower ingredients for the first time in India. Now, with the latest technologies, modern plants, and strong R&D; Sonic provides the best solutions that deliver a unique combination of functional, nutritional, and economic benefits to the customers along with technical advice.

10. Crespel & Deiters

The Crespel & Deiters group is one of the leading European specialists for wheat-based products and the solutions associated with this. These products and solutions create added value for industry customers’ manufactured products worldwide, both in the food and non-food sector. Crespel & Deiters has consistently and sustainably been working with the universal natural product of wheat for 160 years. Everything they do comes from the knowledge we have regarding its diverse range of possible uses. As a family-owned company, they develop innovative products from wheat for their customers, with vision, technical expertise, and knowledge. Today Crespel & Deiters is an internationally-active, owner-managed corporate group. With its own research and development department, the company consistently produces new innovations made from wheat. This leads to integrated solutions in which their company's own specialists from development, application technology service, and technical support customers on the products'​use, the development of new or optimized products, and the customer’s internal processes.

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