Meat Substitutes - Western Asia

Western Asia

Highlights

Revenue in the Meat Substitutes market amounts to US$225.60m in 2024. The market is expected to grow annually by 8.71% (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$1.01 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 15.20m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 5.0% 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 Western Asia is experiencing subdued growth due to factors such as limited consumer awareness, traditional food preferences, and lower purchasing power. Despite this, the market is expected to see modest growth driven by increasing health consciousness and convenience of alternative protein sources.

Customer preferences: As consumers become more health-conscious and environmentally aware, there is a growing demand for plant-based meat substitutes in the Meat Market of The Food market. This trend is driven by cultural preferences for vegetarianism and veganism, as well as concerns over the sustainability and ethical implications of traditional meat production. Additionally, the rise in health-consciousness and interest in alternative diets has also contributed to the increased popularity of meat substitutes, as these products are often perceived as healthier options.

Trends in the market: In Western Asia, the Meat Substitutes Market of the Meat Market within The Food market is experiencing a surge in demand for plant-based protein options, driven by increasing health consciousness and environmental concerns. This trend is expected to continue, with major players investing in research and development to improve the taste and texture of meat substitutes. Additionally, the rise of veganism and flexitarian diets in the region is expected to further boost the market. This presents an opportunity for industry stakeholders to expand their product offerings and cater to the evolving consumer preferences.

Local special circumstances: In Western Asia, the Meat Substitutes market is driven by the region's growing health and wellness trend, as well as increasing concerns over animal welfare. The market is also influenced by the region's cultural and religious diversity, with a significant portion of the population adhering to vegetarian or vegan diets for religious reasons. Additionally, the region's strict halal and kosher dietary laws have created a demand for certified meat-free alternatives. These factors have led to the rise of local companies offering innovative and culturally appropriate meat substitutes, catering to the unique needs of the Western Asian market.

Underlying macroeconomic factors: The Meat Substitutes Market within The Food market in Western Asia is heavily influenced by macroeconomic factors such as consumer preferences and government policies. The region's growing health consciousness, coupled with rising concerns over the environmental impact of meat production, has led to a significant shift towards plant-based protein sources. Moreover, government initiatives promoting sustainable and healthy food choices are further driving the market growth. On the other hand, economic challenges and instability in some Western Asian countries may hinder market growth. Nonetheless, the increasing demand for healthier and more sustainable food options is expected to continue driving the growth of the Meat Substitutes Market in the region.

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.