Meat Substitutes - CIS

CIS

Highlights

Revenue in the Meat Substitutes market amounts to US$801.20m in 2024. The market is expected to grow annually by 8.03% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$3.30 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 63.38m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes Market in the CIS region is experiencing subdued growth due to various factors such as consumer preference for traditional meat, lack of awareness about meat substitutes, and limited availability of these products. Despite this, the market is expected to witness growth in the coming years, driven by increasing health consciousness and technological advancements in the food industry.

Customer preferences: The growing trend towards plant-based diets and the rise of ethical and sustainable consumerism has led to a surge in demand for meat substitutes. This is especially evident in the CIS region, where people are increasingly conscious of the environmental impact of meat production and are exploring alternative protein sources. As a result, companies in the Meat Substitutes Market are innovating to cater to these changing consumer preferences, offering a variety of plant-based options that mimic the taste and texture of meat. This shift is also driven by the younger generation, who are more health-conscious and open to trying new, plant-based products.

Trends in the market: In the CIS and Meat Substitutes Market of the Meat Market within The Food market, the current trend is a shift towards plant-based diets and increasing demand for meat substitutes. This trend is driven by growing health and environmental concerns, as well as a rise in vegetarian and flexitarian lifestyles. The trajectory of this trend shows no signs of slowing down, with major players in the market investing in R&D and expanding their product portfolios. This trend has significant implications for industry stakeholders, as it presents opportunities for growth and innovation, but also poses challenges in terms of meeting consumer demands and maintaining product quality. Moreover, the trend towards meat substitutes could disrupt the traditional meat industry, forcing players to adapt and potentially leading to a shift in market dominance.

Local special circumstances: In the CIS region, the Meat Substitutes Market within the Meat Market of The Food market is influenced by the strong vegetarian and vegan population, as well as the growing trend towards healthier and more sustainable food choices. Additionally, the region's traditional diet, which includes a variety of plant-based dishes, has made it more accepting of meat alternatives. Furthermore, government initiatives promoting plant-based diets and reducing meat consumption have also contributed to the growth of the market in this region.

Underlying macroeconomic factors: The growth of the Meat Substitutes Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with stable economies, favorable fiscal policies, and increasing investments in plant-based alternatives are experiencing faster market growth compared to regions with economic instability and limited funding for alternative protein sources. Additionally, the rising concerns over the environmental impact of traditional meat production and the increasing trend towards healthy and sustainable diets are driving the demand for meat substitutes in the global market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.