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Middle East & Africa Plant-Based Meat Market Research Report, 2027

Middle East & Africa Plant-Based Meat Market Research Report, 2027

Actual Market Research 23-09-2022 60 Pages Figures : 15 Tables : 25 Region : MEA Category : Food & Beverages Food

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1. Nestle SA

2. The Kraft Heinz Company

3. Unilever

4. Tyson Foods, Inc.

5. Kellogg Company

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Plant-based meats are manufactured using plant-based sources such as soy, pea, and wheat and are further processed to make a final product. It is also considered a substitute for animal proteins. These plant-based proteins come in various forms and are used as a meat replacer in several food applications. These proteins are used in multiple food products because of their nutritional content. Thus, different health-conscious people are turning towards plant-based proteins. Plant proteins are also beneficial for weight loss and act as the building blocks for healthy tissues and muscles. Interest in plant-based eating and alternative proteins in the Middle East and Africa region has been steadily rising pre-pandemic and was further accelerated by consumers looking at healthier options. The Middle East and Africa have the lowest per capita sales of processed meat and so hold tremendous potential to address increasing demand. Affordable prices, trustworthy ingredients, and halal certification are the key to the region's success. Price points are essential, and as more players enter the market, more consumers will be able to afford a plant-based eating lifestyle. Ingredients are also becoming more scrutinized as consumers become more conscious of food sustainability. According to the research report “MEA Plant-Based Meat Research Report, 2027,” published by Actual Market Research, the the plant-based meat market is expected to increase at a CAGR of 1.04% over the forecast period. The factors driving the growth of the Middle East and Africa plant-based the meat market is an increase in the number of health-conscious consumers, a rise in population with lactose intolerant consumers, increase in awareness about the benefits of plant-based proteins, investments & collaborations in the plant-based meat business and the growing usage of plant-based meats in various applications. Further, it also depends on how consumers perceive such foods. In In most cases, brands working in this segment must involve apt marketing and advertising practices to instigate younger consumers since they rely heavily on social media platforms and are avid “out-of-home” consumers. The growing concerns among the people of the Middle East about the consumption of conventional animal-based food products and the adoption of vegan diets in the wake of the COVID-19 outbreak due to rising health awareness are expected to drive the plant-based growth of meat in the region. In 2021, soy protein a segment dominated the market due to the higher content of protein in the soy as compared to others with more than 60% market share. Hence soy proteins are majorly used for protein sources in various food industries. South Africa dominates the Middle East and Africa Plant-based meat market with 23% of the total market share in the MEA region. It is further expected to grow exorbitantly at the highest CAGR of 18.24% due to the increased number of launches by the major manufacturers in the country. The rising consumer awareness regarding meat consumption's negative impact on health is leading to a shift toward a vegan diet. Additionally, the benefits of cholesterol-free protein, with a meat-like texture, are one of those critical factors promoting the growth of plant-based meat. Meatballs and other snacking products are expected to be in demand over the forecast period. Consumers in the United Arab Emirates consider the adoption of veganism in the country as a recent development for a cleaner lifestyle and healthy habits, which is fuelling the growth in the meat substitutes market in the country due to the clinically proven health benefits of a vegan diet. Tourism in the country from different parts of the world is also contributing to the growth of the meat substitute market in the country. During the COVID-19 pandemic, the food industry witnessed significant shifts, but plant-based companies adapted and continued to launch new products and grow sales. Foodservice channel distribution was significantly impaired, and pantry stocking and panic buying led to a sharp increase in retail sales over the prior year. The COVID-19 pandemic lockdowns have encouraged consumers to order goods online, which has boosted online sales channels. Collaboration, joint ventures, and other strategies by the market players are enhancing the company's footprints in the Plant-based meat market, which also benefits the organization in its growth pace. Major Companies present in the market Beyond Meat, Kellogg NA Co, Tyson Foods Inc, Impossible Foods Inc, QUORN Foods, Nestle S.A., Kraft Heinz Company, Unilever (The Vegetarian Butcher) Considered in this report • Geography: MEA • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • MEA plant-based meat products market with its value and forecast along with its segments • Country-wise plant-based meat products market analysis • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • UAE • Saudi Arabia • South Africa By Sources in the report • Soy • Pea • Wheat • Other By products in the report • Burger Pattie • Sausages • Strips & Nuggets • Meatballs • Others By Type in the report • Beef • Chicken • Pork • Fish • Other (lamb, turkey) By End-User in the report • Retail • HoReCa The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to plant-based meat industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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