North America meat substitutes market is anticipated to witness a CAGR of 5.89% during the forecast period (2020 - 2025).

  • The rising demand for vegan foods in the country owing to the gradual adoption of veganism is driving the market of meat substitutes.
  • A large portion of the regional population is realizing the benefits of plant-based foods over meat products in preventing obesity, and is, therefore, opting for plant-based alternatives of maximum possible food products.
  • However, due to the lack of awareness and low disposable income among the smaller economies of the region, the market is likely to witness slower progress.



Key Market Trends

The Online Retail Channel is the Fastest Growing Distribution Channel

The North America region is well-developed and the people have a good knowledge of the internet and technology. Due to this, online sales have become a major distribution channel for manufacturers to cater to consumer-friendly shopping demands. Often, new products are being launched through online platforms in the region, which were previously first seen in the supermarkets. Also, as the number of consumers is increasing, online retailers are throwing attractive offers like discounts and free delivery schemes to cut down the hassle of shopping. The concept of digital payment has also helped to increase sales through this channel. Thus, the advantages associated with the distribution channel are expected to drive the market in the near future.

United States Dominate the Meat Substitutes Market

The United States has a huge consumer base for meat consumers but due to the rising health consciousness in recent times, a significant portion of people have shifted to veganism or have reduced the frequency of meat consumption to prevent the chances of health complexities and obesity. The people are instead opting for plant-based meat substitutes which offer similar taste, texture, and flavor as of the processed meat products at an almost same or lower cost, without compromising with the nutritional values. Furthermore, the high purchasing power of the people backs up their decision to switch from meat-based products to those prepared from alternative sources.

Competitive Landscape

North America meat substitutes market is fragmented with the presence of several global as well as domestic players. The major opportunity for the players to grab the market is by launching innovative solutions to cater to the inflated demand for alternatives to various processed meat products, against which health concerns have been rising in the recent times. The taste and the cost also play a major role in laying a heavy brand foundation. The global players have a strong hand due to their brand image and are, therefore, they are indulging in geographical expansions mergers, acquisitions, and partnerships with the local food industries to capture the regional market. The most active players in the market are Beyond Meat, Conagra Brands Inc., Trader Joe’s, and The Kellogg Company.

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