Meat analogues market is growing, and flavoring is key
The global meat analogue market is already sizable, with a value of $2 billion, and is growing at a steady rate of around four percent per year. The USA is the leading market with a share of >30% (value) and >20% (volume). Nine other countries together account for >50% of the global market (value). The market is dominated by frozen meat analogues, but growth is becoming increasingly driven by chilled meat analogues. 61% of all meat substitutes launched in the past year were chilled products. The most popular meat analogues are burgers, followed by sausages and tofu. Flavoring is key to a successful meat analogue. In 2017, of the 1207 new meat analogue products introduced, 495 contained one or more flavors; around half of them natural.