Global Alternative Protein Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7.50 % during a forecast period.
The alternative proteins are plant-based or food-technology alternatives of animal protein. It has a similar look, texture and taste to animal-based meat products, with a lower sustainability impact. The alternative proteins have the potential to transform the intensive livestock industry. Consumer demand is driving exponential growth in the alternative protein market, thanks to significant innovations in food products.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
An increase in reach of social media, presence of information on food provenance, and concerns across the transparency in the food industry related to the health, sustainability, traceability and animal welfare are some of the factors, which are expected to impact on consumer purchasing decisions. Globally, the interest of consumer in non-meat-based protein options is growing. They are increasingly reducing meat intake to enhance their health, which is largely driven by a rise in awareness of a causal link between high meat consumption and some non-communicable diseases.
On the other hand, the high cost of alternative protein and preference for animal-based products are expected to limit the growth of alternative protein market.
Plant protein is trending for a variety of reasons in the market. An introduction of the some of the innovative products in plant-based and alternative protein products are capturing a great deal of interest from consumers. Plant protein products are replicate animal proteins in texture, flavour and aroma through the usage of plant sources, which have mimic the structure of animal proteins on a molecular level. Plant proteins are big business and a fast-growing category in the market. Growth in the population, supply concerns, and the environmental impacts of livestock production are expected to increase the alternative protein demand and also provide opportunities for several alternative protein sources in the agricultural and food markets.
Global Alternative Protein Market, Regional Analysis:
Region-wise, North America region held the dominant position in the market and is projected to continue its dominant position during the forecast period. An increase in demand for plant-based protein alternatives, awareness about the benefits of protein-rich diet and plant-based alternatives and consumer interest in foods, which helps to promote health and well-being are driving the growth in the alternative protein market. In Canada, more than 40% of the population is aggressively trying to incorporate more plant-based foods into their diets. Currently, the compatibility with vegetarian, vegan and flexitarian lifestyles is putting the spotlight on plant-based protein sources. R&D investments, reliable production of high-quality protein like big data technologies, robotics and blockchain technology for more secure and immediate transactions in the supply chain are expected to boost the market growth in the market.
Global Alternative Protein Market, Competitive Landscape:
Some of the new entrants in the alternative-protein food industry are focusing on the innovative technologies and ingredients, and some key players are attempting to set their robust presence in the market. Many food innovators are introducing new formulations to impact the existing protein supply chain. An introduction of the variety of innovative products in the food industry is driving growth in the market. The prominent key players are starting to experiment with ingredients like barley, flax, hemp and pea milk, which are offering health benefits such as high omega-3 and protein content.
The objective of the report is to present a comprehensive analysis of Global Alternative Protein Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Alternative Protein Market dynamics, structure by analysing the market segments and project the Global Alternative Protein Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Alternative Protein Market make the report investor’s guide.
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Global Alternative Protein Market, By Source
• Plant Protein
• Algal Protein
• Insect Protein
Global Alternative Protein Market, By Application
• Dietary Supplement
• Feed Industry
Global Alternative Protein Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Alternative Protein Market
• MGP Ingredients Inc.
• The Archer Daniels Midland Company
• Kerry Group
• 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 International SdnBhd
• Ingredion Incorporated
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