Global Alternative Proteins Market valued at USD 14.95 billion in the year 2019 has been backed by rising number of buyers demanding plant-based meat product either for clinical reasons or for practicing healthy lifestyle. Also, the manufacturers making continuous efforts in research and development for healthy products which are in turn accelerating demand for Alternative Proteins such as Soy Protein, Pea Protein, whey protein and insect proteins across the regions. Further, people allergic to dairy products are enhancing the demand for dairy alternatives which in turn expected to facilitate the Alternative Proteins market. Furthermore, alternative protein products can overcome the negative environmental impact faced by industrial meat processing industry associated with red meat creation. The red meat is the major contributor of greenhouse gas emissions and therefore, rising environmental awareness is also accelerating the demand for plant-based protein products.
Also, rising obesity rates across the globe, coupled with consumer interest in healthier food alternatives, are also expected to drive the demand for meatless proteins during the forecast period of 2020-2025. During the beginning of the coronavirus pandemic, the meat business was hammered by warnings of meat deficiencies because of temporarily shuttered plants and growing number of sick workers. Conventional meat distribution channels were overturned as the contagion is supposed to be an animal-borne disease. Such conditions possibly opened doors for plant-based organizations. The market leaders such as Beyond Meat Inc., Impossible Foods Inc., and Tofurky Co. are increasing the level of production amid pandemic and also offering discounts on their plant-based meat products to enhance consumer base, expanding stores, and completing partnership with the stakeholders.
Under the Product Segment, Soy dominates the overall Alternative Proteins market and increasing demand owing to developing consumer consciousness of soy’s various medical advantages and rising usage in wafers, snacks, cookies and other food items. Over the forecasted period, the Pea Segment is also going to increase as it is a high-quality and protein-rich option for veggie lovers, vegans, lactose-bigoted buyers, and people searching for nutrient rich protein substitutes. Also, insect protein market is expected to grow with the highest CAGR owing to its protein rich nourishment and sustainability.
On the basis of Application, the Food and Beverages segment is expected to grow with highest level of CAGR because of ever increasing demand for plant-based proteins for every age group and high use of pea protein and enhanced use of insects in animal feed.
Asia Pacific region is the most attractive region for the growth of Alternative Proteins market owing to rise in the veggie lovers and rising trend of vegetarianism among masses. Also, change in lifestyle, rising awareness about the protein rich health supplements, growing acceptance of plant products due to its advantages associated with health and existence of global leaders in the region expected to pull the market growth.
Scope of the Report
- The report analyses Alternative Proteins Market.
- The report analyses Alternative Proteins Market By Product (Soy Protein, Insect Protein, Pea Protein, Alternative Dairy, Whey Protein, Cultured Meat, Others)
- The report assesses the Alternative Proteins Market By Product (Nutrition and Health Supplements, Food & Beverages, Animal Feed, Others).
- The Global Alternative Proteins Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (US, Canada, France, UK, Belgium, Germany, China, India, South Korea, Japan).
- The key insights of the report have been presented through the attractiveness of the market has been presented By Product, By Application and By Region. Additionally, the major opportunities, trends, drivers, challenges of the industry has been analysed in the report.
- The companies analysed in the report include Beyond Meat Inc., Tate & Lyle Plc, Archer-daniels-midland Company, Ingredion Incorporated, Cargill, DuPont de Nemours, Inc., Glanbia plc, AgriProtein, Enterra Corporation and Protix
- The report presents the analysis of Alternative Proteins market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- Plant based Food and Beverage Manufacturer
- Alternative Protein Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Investment Banks and Equity Firms
- Regulatory Authorities