GlobalAlternative Protein Market was valued US$ XX Bn in 2019 and isexpected to reach US$ XX Bn by 2027, at a CAGR of 7.50 % during a forecastperiod.
Global Alternative Protein Market
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The alternative proteins areplant-based or food-technology alternatives of animal protein. It has a similarlook, texture and taste to animal-based meat products, with a lowersustainability impact. The alternative proteins have the potential to transformthe intensive livestock industry. Consumer demand is driving exponential growthin the alternative protein market, thanks to significant innovations in foodproducts.The report study has analyzed revenue impact of COVID -19 pandemic onthe sales revenue of market leaders, market followers and market disrupters inthe report and same is reflected in our analysis.
An increase in reach of socialmedia, presence of information on food provenance, and concerns across thetransparency in the food industry related to the health, sustainability,traceability and animal welfare are some of the factors, which are expected toimpact on consumer purchasing decisions. Globally, the interest of consumer innon-meat-based protein options is growing. They are increasingly reducing meatintake to enhance their health, which is largely driven by a rise in awarenessof a causal link between high meat consumption and some non-communicablediseases.
On the other hand, the high costof alternative protein and preference for animal-based products are expected tolimit the growth of alternative protein market.
Plant protein is trending for avariety of reasons in the market. An introduction of the some of the innovativeproducts in plant-based and alternative protein products are capturing a greatdeal of interest from consumers. Plant protein products are replicate animalproteins in texture, flavour and aroma through the usage of plant sources,which have mimic the structure of animal proteins on a molecular level. Plantproteins are big business and a fast-growing category in the market. Growth inthe population, supply concerns, and the environmental impacts of livestockproduction are expected to increase the alternative protein demand and alsoprovide opportunities for several alternative protein sources in theagricultural and food markets.
Global Alternative Protein Market,Regional Analysis:
Region-wise, North America regionheld the dominant position in the market and is projected to continue itsdominant position during the forecast period. An increase in demand forplant-based protein alternatives, awareness about the benefits of protein-richdiet and plant-based alternatives and consumer interest in foods, which helpsto promote health and well-being are driving the growth in the alternativeprotein market. In Canada, more than 40% of the population is aggressivelytrying to incorporate more plant-based foods into their diets. Currently, thecompatibility with vegetarian, vegan and flexitarian lifestyles is putting thespotlight on plant-based protein sources. R&D investments, reliableproduction of high-quality protein like big data technologies, robotics andblockchain technology for more secure and immediate transactions in the supplychain are expected to boost the market growth in the market.
Global Alternative Protein Market,Competitive Landscape:
Some of the new entrants in thealternative-protein food industry are focusing on the innovative technologiesand ingredients, and some key players are attempting to set their robustpresence in the market. Many food innovators are introducing new formulationsto impact the existing protein supply chain. An introduction of the variety ofinnovative products in the food industry is driving growth in the market. Theprominent key players are starting to experiment with ingredients like barley,flax, hemp and pea milk, which are offering health benefits such as highomega-3 and protein content.
The objective of the report is topresent a comprehensive analysis of Global Alternative Protein Market includingall the stakeholders of the industry. The past and current status of theindustry with forecasted market size and trends are presented in the reportwith the analysis of complicated data in simple language. The report covers allaspects of the industry with a dedicated study of key players that includesmarket leaders, followers and new entrants by region. PORTER, SVOR, PESTELanalysis with the potential impact of micro-economic factors by region on themarket are presented in the report. External as well as internal factors thatare supposed to affect the business positively or negatively have beenanalysed, which will give a clear futuristic view of the industry to thedecision-makers. The report also helps in understanding Global AlternativeProtein Market dynamics, structure by analysing the market segments and projectthe Global Alternative Protein Market size. Clear representation of competitiveanalysis of key players by Type, price, financial position, product portfolio,growth strategies, and regional presence in the Global Alternative ProteinMarket make the report investor’s guide.
The Scope of the Report for GlobalAlternative Protein Market: Inquire before buying
Global Alternative Protein Market,By Source
• Plant Protein
• Mycoprotein
• Algal Protein
• Insect Protein
Global Alternative Protein Market,By Application
• Food
• Beverage
• Dietary Supplement
• Feed Industry
Global Alternative Protein Market,By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in GlobalAlternative Protein Market
• MGP Ingredients Inc.
• The Archer Daniels MidlandCompany
• Kerry Group
• DuPont
• Cargill Incorporated
• Roquette Foods
• Proti-Farm Holding NV
• Glanbia PLC
• Corbion Biotech Inc.
• Agriprotein Holdings Ltd
• Algatechologies Ltd.
• BurconNutraScience Corporation
• Aspire Food Group
• EntofoodSdn Bhd
• MycoTechnology Inc.
• Tianjin Norland Biotech Co., Ltd
• Enterra Feed Corporation
• Glanbia Plc.
• Microalgaetech InternationalSdnBhd
• Ingredion Incorporated
• Sun Chlorella Corporation
• Parabel, Inc.
• Plantible Foods, Inc.
• Now foods
• Tate & Lyle Plc
• AXIOM Foods Inc.
• BENEO GmbH
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