Tofu & tofu ingredients segment accounted for the largest share of the meat
substitutes market, by application, in 2017.
On the basis of type, the tofu & tofu ingredients segment accounted for the largest
share of the meat substitutes market in 2017, followed by textured vegetable protein
segment. Meat substitutes such as tempeh and tofu are rich in proteins and minerals,
since they are derived from soy; moreover, they have become a popular meat
alternative among vegetarians and vegan consumers for their health benefits.
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Frozen meat substitutes accounted for the largest market share in 2017.
On the basis of category, frozen meat substitute products accounted for the largest
market share in 2017. The rise in demand for convenience foods, as a result of growing
income levels of consumers, is one of the major factors driving the market for frozen
meat substitutes.