Meat Substitutes - Eastern Asia

Eastern Asia

Highlights

Revenue in the Meat Substitutes market amounts to US$2.94bn in 2024. The market is expected to grow annually by 10.43% (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$1.80 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 291.90m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 11.7% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes Market in Eastern Asia is experiencing subdued growth due to various factors such as changing dietary preferences, increasing health awareness, and convenience offered by alternative meat products. Despite this, the market is still expected to witness growth in the coming years.

Customer preferences: With the growing awareness of sustainability and ethical consumption, there has been a noticeable shift towards plant-based diets in Eastern Asia. This trend is further fueled by the rise of flexitarianism, where individuals reduce their meat consumption for health and environmental reasons. As a result, the Meat Substitutes Market within The Food market has experienced a surge in demand for alternative protein sources, such as tofu, tempeh, and seitan. This shift is influenced by cultural values and lifestyle factors, as more people prioritize health and environmental concerns in their food choices.

Trends in the market: In Eastern Asia, the Meat Substitutes Market is experiencing a surge in demand, driven by the growing trend of health-conscious consumers opting for plant-based protein alternatives. This trend is expected to continue, with the market projected to grow at a CAGR of 9.4% between 2021-2026. This presents significant opportunities for industry stakeholders to tap into this market, particularly in countries like China and Japan, where there is a rising awareness of the environmental and health benefits of meat substitutes. Additionally, advancements in technology and innovation in this market are expected to lead to a wider variety of meat substitute products, catering to the diverse dietary preferences of consumers in this region. This could potentially disrupt the traditional meat market, as more consumers shift towards plant-based options. As such, it is crucial for industry players to stay ahead of these trends and continuously adapt to meet the changing demands of consumers in this region.

Local special circumstances: In Eastern Asia, the Meat Substitutes Market within The Food market is influenced by the region's strong cultural and religious traditions. With a large Buddhist and Hindu population, there is a demand for plant-based alternatives to meat. Additionally, government regulations promoting healthy and sustainable diets have further driven the growth of the market. In China, the market is also affected by the country's rising middle class and their increasing interest in health and wellness, leading to a surge in demand for meat substitutes. In Japan, the market is driven by the country's aging population and their preference for low-fat and low-cholesterol diets, making meat substitutes a popular choice.

Underlying macroeconomic factors: The Meat Substitutes Market within The Food market in Eastern Asia is impacted by various macroeconomic factors. On a global level, the rising awareness about the negative environmental impact of meat consumption and the increasing demand for plant-based alternatives are driving the growth of the market. Additionally, favorable government policies promoting sustainable food production and consumption, as well as investments in research and development, are further boosting the market. At a national level, economic stability and income levels also play a significant role in the adoption of meat substitutes, as they are often priced higher than traditional meat products. Furthermore, government initiatives to promote healthy eating and combat obesity are also driving the demand for meat substitutes in the region. Overall, the growth of the Meat Substitutes Market in Eastern Asia is heavily influenced by global and national economic trends, as well as government policies and initiatives.

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.