Alternative Protein Market Forecast and CAGR
According to the latest research by Fact.MR, the Alternative Protein market is set to witness steady growth during the forecast period 2021-2031. The growing world population and mainly the emerging of the new middle-class population in the Asia Pacific, Latin America, and Africa will offer high growth opportunities for the market.
The consumers around the world has shown the readiness towards recklessly growing new food, thus the alternative proteins market also seen the speedy growth in developed regions. The protein alternative market is observing modification in consumer demand of intake from animal protein products consumption to plant proteins. Moreover this trend for plant-based proteins is on the rise due to healthy diet lovers and upswing in the trend of vegetarianism.
The emerging alternative protein market has consequently seen the rapid growth since last few years.
This trend is swiftly spreading across the US, Asia and parts of the European countries, particularly in the young generations which is predominantly facing the shape to the segments of the alternative proteins. The changing lifestyle and rising attentiveness about the protein rich health supplements, has increased growing concerns over acceptance of plant products due to its benefits related with health. Considering the overall trend and growth Asia Pacific region considered to be most attractive market for alternative proteins which expected to pull the market progress.
What is Driving Demand for Alternative Protein?
Nourishment is an essential part of the existence. And with the growing concern over the diet food consumption the demand for healthy food is on the rise including the proteins. Looking at the environmental changes, the consumers around the globe must deal with the challenges occurred by shifting the focus from basic food consumptions to added alternative proteins.
Similarly, the producers of these alternative protein ingredients are making constant efforts in research and development for vigorous products which are rapidly growing up the demand for alternative proteins like pea, insect proteins, soy protein, and whey protein in regions around the globe.
Expanding obesity amount throughout the globe, emerged with consumer interest which improved food alternatives option, a key shift in the universal market's consumer behavior is accumulative concern for the alternative protein sources from plant-based alternatives to the insect’s alternative proteins. The meat proteins provides the essential amino acids required by the body however associated with the high cholesterol level which results in the consumers shift towards the vegan source of proteins. Besides this the inclined demand towards the plant-based diet is seen which is aligned with factors such as health awareness, ethical or religious view, sustainability issues and animal rights.
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Global Alternative Protein Market Outlook
Considering the general market for the alternative proteins North America accounts the prime share of overall alternative proteins market. Regionally large share amount is distinguished to its well established food industry and rising concern over vegan food. United States commands over the alternative proteins market in North America by acquiring major market share. However there is still domination of the animal protein amongst the United States.
Consumers in developing regions like Europe, Africa, and Asia Pacific have in progress to include ingredients to their daily diets which accelerates the sales growth for the alternate proteins in the regions. Many of the ingredients manufacturers have initiated the awareness programs for segments such as soy proteins, pea proteins and other in its certain regions.
Europe Demand Outlook for Alternative Protein
The global market has shown the significant growth for alternative proteins in northern parts of the Europe, which indicates the consumer’s interest is rising towards the plant-based alternative proteins rather consuming the animal based proteins. Which resulted in the surge in demand for the alternative proteins in the region. European market for the alternative proteins witnessing robust demand followed by the North American Market.
The impact of COVID-19 is giving surprising boost to the protein alternative industry, globally. Coronavirus disease severely impacted on people with health circumstances like diabetes, and hypertension around the globe. In this scenario alternative protein-based diet products help the people to minimize the risk of these problems. From the ingredients manufacturer’s perspective the industry has seen unparalleled demand, especially for the plant-based alternative proteins.
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Who are the Key Manufacturers and Suppliers of Alternative Protein?
The overall alternative protein market is fragmented and the companies that lead in the market are
- Cargil Inc.
- Archer Daniel Midland Company.
Other well-known companies in the market are
- Yaeyama Shokusan Co. Ltd.
- Far East Microalgae Industries Co. Ltd
- Haocheng Mealworm Inc.
- DIC Corporation
- Far East Microalgae Industries Co. Ltd
- Axiom Foods
- Burcon Nutra Science
- Entomos Farms
- EI Du Pont Numerous company
- Algatechnologies Ltd.
- Roquette Freres
- Enterra Feed Corporation
In order to maintain their position within the market, the companies are focused towards research and development process. Along with combinations and product launches to provide to the rising demand for proteins alternative products, these companies also works on innovative product assistances to achieve the certain growth and acquire greater market shares that can be applied in applications, dietary supplement and food and beverages.
An Adaptive Approach to Modern-day Research Needs
Alternative Proteins Market Report Highlights:
- Detailed overview of Alternative Proteins Market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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- By Plant- Protein
- Soy protein
- Insect Protein
- Pea Protein
- Wheat Proteins
- By Mycoprotein
- By Algal protein
- By Insect Protein
- Nutritional & Health
- Food & Beverage
- Animal Feed and Pet Food
- Personnel Care and Cosmetics
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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