Blended Meat: Market outlook
Blended meat is a mixture of meat with ingredients of plant origin. Blended meats are made for people who enjoy consuming meat but want to reduce their total meat intake, whether for health reasons, environmental reasons, or others. Reducing meat by blending decreases the carbon and water footprint of a facility without taking comfort foods away. Significant rise in plant based craze among millennial will boost the growth of blended meat market in forecast period
Meat products consisting of a mixture of meat and ground mushrooms and other vegetables have developed, evolved and at the same time have taken a role that adequately addresses both the environment and health and wellness. Not only that, but blended meat also provides suppliers and customers with an additional health benefit and label claim at no extra cost. The vegetables and meat blends have recently emerged and have become a standard foodservice product offering. Appealing aspect of blended meat among consumers to escalates market toward significant growth in the foreseeable future.
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Trend of Eco-friendly and Energy Efficient Food Products to Drive the Growth of Blended Meat Market
A growing trend of blended products is looking to offer a compromise to consumers who aren’t willing to make a full plant-based switch. Partially replacing meat with plant-based goods would enable consumers to reduce their diet-related greenhouse gas contributions by as much as 15%.
According to the research, replacing every burger consumed by Americans with 30% plant-based burgers will save 83 billion gallons of water each year, equal to 2.6 million US household water consumption each year, and minimize agricultural land demand by 14,000 square miles, a region greater than Maryland State.
It was found in a research that 56% of consumers of plant-based items are interested in purchasing a blended meat burger. Also, among consumers who do not purchase plant-based goods, 30% say they are interested in buying blended meat burgers.
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Growing Importance of ‘Health’ in High Meat Consuming Countries
Products made from healthy ingredients that are labelled to demonstrative health benefits from natural ingredients are appealing to consumers, particularly to higher incomes and ageing consumers in developed markets. Developed countries, such as USA and Europe, are expected to contribute heavily to the growth of the blended meat industry due to rising incomes and healthy eating trends.
Blended meat products in the packaged format are considered hygienic and of high quality, as they are marketed by well-established companies such as Tyson Foods, Inc., and Smithfield Foods, Inc. Such manufacturers have gradually shifted their emphasis from shelf-stable blended meat to frozen blended meat, in response to rising customer demand for more fresh and balanced blended meat products.
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Global Blended Meat: Market Segmentation
On the basis of Product Type, global blended meat can be segmented as:-
- Poultry Meat
- Beef
- Sheep Meat
- Pork
On the basis of Form, global blended meat can be segmented as:-
- Shelf Stable
- Frozen
On the basis of Applications, global blended meat can be segmented as:-
- Food Processor & Manufacturers
- Fast Food Restaurant Chains
- Household & Residential Buyers
Global Blended Meat Market: Key Players
Some of the key players operating their business in the global blended meat market are Tyson Foods, Inc., Smithfield Foods, Inc., Perdue Farms, Hormel Foods Corporation., Sweet Earth, Inc., Pure Farmland., Beyond Meat., and other.
Manufacturers to Face Steady Increase in Demand for Blended Meat Products
Due to the shift in consumer demand towards healthy food products, there has been continuous innovation in biotechnology and nanotechnology-related food technologies that enhance the food products quality. These technologies are being adopted by manufacturers which further simplifies the process needed for the production of blended meat. Supermarkets, fast-food chains, and small retailers have started to sell items made from organic food because of the growing demand for organic foods.
Swift advances in freezing technologies to prolong the longevity of meat products without compromising on quality are driving the sales of frozen meat in the blended meat market. Such evolving consumer trends are likely to influence manufacturers in the blended meat industry to come up with topical developments in terms of texture, taste, packaging, and flavours, to spur meat products to be adopted.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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