Meat Substitutes - Brazil

Brazil

Revenue in the Meat Substitutes market amounts to €192.10m in 2024. The market is expected to grow annually by 11.61% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€2,198m in 2024).
In relation to total population figures, per person revenues of €0.88 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 19.36m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 9.2% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.1kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Meat substitutes market in Brazil is witnessing subdued growth due to factors like high cost, limited availability, and lack of consumer awareness. However, increasing health consciousness and demand for plant-based alternatives may drive growth in the future.

Customer preferences: The growing popularity of vegetarian and vegan diets in Brazil has led to a rise in demand for meat substitutes, such as plant-based proteins and faux meats. This trend is driven by a combination of health and environmental concerns, as well as a growing awareness of animal welfare. As a result, the Meat Substitutes Market within The Food market is experiencing significant growth, with consumers seeking out more plant-based options in their diets. Additionally, the rise of flexitarian diets, where individuals primarily follow a vegetarian or vegan diet but occasionally consume meat, has also contributed to the increasing demand for meat substitutes in Brazil.

Trends in the market: In Brazil, the Meat Substitutes Market is experiencing a surge in demand due to the increasing health and environmental concerns surrounding traditional meat consumption. This trend is driven by a growing awareness of the benefits of plant-based diets and the availability of innovative meat alternatives. As a result, major players in the food industry are investing in research and development of new meat substitutes, while retailers are expanding their offerings to cater to the changing consumer preferences. This trajectory is significant as it has the potential to disrupt the traditional meat market and create new opportunities for industry stakeholders. For example, meat producers may need to adapt their business models to incorporate more plant-based options, while food retailers may need to rethink their product assortment. Overall, the growing popularity of meat substitutes in Brazil is likely to shape the future of the Meat Market within The Food market and drive the industry towards a more sustainable and ethical future.

Local special circumstances: In Brazil, the Meat Substitutes Market is experiencing significant growth due to the country's large population of vegetarians and flexitarians. This trend is driven by cultural and religious practices as well as concerns about animal welfare and environmental sustainability. Additionally, the government's push for healthier eating habits and the growing popularity of plant-based diets are also contributing factors. These unique local factors are shaping the market dynamics and driving the demand for alternative protein sources in Brazil's Meat Market within The Food market.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is greatly impacted by macroeconomic factors in Brazil, such as the country's economic growth, consumer purchasing power, and government policies. As Brazil's economy continues to recover from the recent recession, consumers are becoming more health-conscious and seeking alternative protein sources, leading to a growing demand for meat substitutes. The government's focus on sustainable development and reducing carbon emissions is also driving the adoption of plant-based meat substitutes. Furthermore, the increasing global trend towards plant-based diets and the rise in ethical and environmental concerns surrounding meat consumption are contributing to the growth of the Meat Substitutes Market in Brazil.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.