Binders and Scaffolders for Meat & Meat Substitutes Market by Type (Binders for Meat & Meat Substitutes, and Scaffolders for Cultured Meat), Application (Meat Products, Meat Substitutes, and Cultured Meat), Meat Type (Beef, Pork, Poultry, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 4 billion mark in 2022 and is expected to hit US$ 5 billion by 2030, recording a CAGR of 2.5% during the forecast period.
Binders and scaffolders for meat & meat substitutes market is significantly increasing with rising demand for meat products.
Increasing demand for alternative proteins, enhanced food security, rising investment by key market players, and increasing awareness regarding health benefits of scaffolding to increase in protein content are some of the major factors driving the growth of the market. The meat substitutes segment is expected to pace up owing to increasing consumer inclination towards a vegan and flexitarian lifestyle. Meat substitutes are commonly preferred by plant-based meat manufacturers and consumers. They also help in reduction of carbon emission and protect animals. Further, meat product and cultured meat segments are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, application, meat type and geography. By type, the market is further segmented into binders for meat & meat substitutes, and scaffolders for cultured meat. By application, the market is categorized into meat products, meat substitutes, and cultured meat. On the basis of meat type, the market is segmented into beef, pork, poultry, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Binders and scaffolders for meat and meat substitutes are processed by preparing meat alternatives to provide a unique structure which gives the products a meat-like appearance. The demand for binders and scaffolders for meat and meat alternatives has surged owing to increasing demand for alternative protein products. This is attributed by rising awareness regarding health benefits offered by the products as they have high source of protein and vitamins. Further, increasing meat consumption coupled with increased demand for nutritional meat is surging the market demand.
Technological advancement to develop new product line is one of the major factors accelerating the market growth.
The demand for processed meat products has surged the demand for functional meat ingredients in developed economies. Consumer inclination towards adoption of processed meat products has increased demand for different and variety of products. This has surged the key players to enhance it new product line by technological advancements. Companies are seizing the opportunity by exploring new possible applications for functional non-meat ingredients. With the novel combination and formulation of various raw materials form various sources, companies have the scope to develop new products with distinguished functionalities.
Recent strategic developments in binders and scaffolders for meat and meat substitutes market
The binders and scaffolders for meat and meat substitutes market has undergone several significant developments, and a few of these have been mentioned below:
- In January 2021, Matrix Meats announced the collaboration with 14 cultivated meat producers across seven countries to expand its business and increase the production ccapacity to meet growing consumer demand for meat products.
The binders and scaffolders for meat and meat substitutes market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ADM, Kerry Group, Wiberg GMBH, DaNaGreen, and Excell are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Binders and scaffolders for meat and meat substitutes related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of binders and scaffolders for meat and meat substitutes industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Binders for Meat & Meat Substitutes
- Scaffolders for Cultured Meat
- Meat Products
- Meat Substitutes
- Cultured Meat
- Meat Type:
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Kerry Group
- Wiberg GMBH
- Kerry Group
- Wiberg GMBH