Meat Substitutes - North America

North America

Highlights

Revenue in the Meat Substitutes market amounts to US$1.94bn in 2024. The market is expected to grow annually by 4.26% (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$3.80 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 120.60m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 2.1% 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 North America is experiencing minimal growth, influenced by factors like the growing demand for plant-based proteins and the increasing health consciousness among consumers. Convenience and availability of online meat substitute options are also contributing to this trend.

Customer preferences: The growing popularity of plant-based diets and concerns about the environmental impact of traditional meat production have led to a rise in demand for meat substitutes in North America. This trend is driven by consumers looking for more sustainable and ethical food options. Additionally, the rise of health-conscious and flexitarian consumers has also contributed to the growth of the meat substitutes market. With an increasing focus on health and wellness, consumers are seeking out protein-rich and nutrient-dense alternatives to meat. This has resulted in a variety of innovative plant-based products entering the market, catering to different dietary preferences and needs.

Trends in the market: In North America, there is a significant increase in demand for plant-based meat substitutes, driven by a growing focus on healthy and sustainable food options. This trend is expected to continue, with major meat companies investing in and launching their own meat alternative products. Additionally, there is a rise in the number of consumers following vegetarian and vegan diets, further fueling the demand for meat substitutes. This shift towards plant-based diets has significant implications for industry stakeholders, as they must adapt their product offerings and strategies to cater to this changing market.

Local special circumstances: In North America, the Meat Substitutes Market of the Meat Market within The Food market is heavily influenced by the region's changing dietary preferences, with a growing demand for plant-based protein alternatives. Additionally, the market is driven by the increasing awareness about the environmental impact of meat production and the rise of flexitarian and vegan lifestyles. Furthermore, the highly competitive market is shaped by stringent regulations on food labeling and safety, as well as the presence of major players like Beyond Meat and Impossible Foods.

Underlying macroeconomic factors: The Meat Substitutes Market within the Meat Market of The Food market is greatly impacted by macroeconomic factors in North America. The region's strong economic growth, stable political environment, and favorable regulatory policies have facilitated the growth of the market. Additionally, increasing health consciousness among consumers and growing concerns about the environmental impact of meat consumption are driving the demand for meat substitutes. The market is also benefitting from the rising trend of vegan and vegetarian diets, as well as the availability of innovative and healthy plant-based protein alternatives. Furthermore, investments in research and development and advancements in food technology are expected to further boost the growth of the Meat Substitutes Market in North America.

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.