Alternative-Protein Market to Reach at Least $3.89 Billion by 2027 | Corbion NV, Glanbia PLC, Ingredion Incorporated, Cargill Incorporated, etc
The growth of the market is attributed to the growing research and development, new product launches, venture investments, and consumer inclination towards a vegan diet.
The global Alternative Proteins Market is projected to reach USD 3.89 billion by 2027, according to a recent report by Emergen Research. Over the years, there has been a growing change in diets and lifestyles that have occurred with increasing industrialization, economic development, millennials, and globalization. This is often expected to possess a substantial impact on the nutrition, health and awareness status of the worldwide population, particularly in developing countries, which has actually led to the emergence and growth of this market.
Alternative Proteins Market Size – USD 2.20 Billion in 2019, Alternative Proteins Market Growth – CAGR of 7.4%, Alternative Proteins Industry Trends – Changing consumer dynamics towards food consumption.
The primary goal of the choice proteins is to reduce the climatic impact on the environment thanks to producing traditional livestock proteins, thereby offering other ways to feed the growing population. Hence, alternative protein products that are made up of known ingredients, like algae and plant proteins are quickly and simply approved for safety by the FDA; whereas, products that involve heavy processing or a scientific approach got to follow the lengthy approval process in some regions.
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Top competitors of the Alternative Proteins Market profiled in the report include:
Kerry Inc., DuPont de Nemours Inc., Corbion NV, Glanbia PLC, Tate & Lyle PLC, The Archer Daniels Midland Company, Ingredion Incorporated, Cargill Incorporated among others.
According to our analysts, between the span of 2019 and 2025, most of the demand for alternative proteins is predicted to be driven by urbanization with new consumer aspiration including growing population, innovation in food technology, growing venture investments in alternative protein companies, and high nutritional value of edible insects. Beyond the associated health benefits, consumers across the world believe that plant-based proteins improve their overall health and helps with weight management. Thus, as consumer interest is growing in health, sustainability, and ethics; plant protein intake is on the increase in many regions, particularly promising is that the marketplace for meat and dairy alternatives.
According to Emergen Research, in 2019, the plant-based protein segment accounted for the most important share of the worldwide alternative protein market. This segment holds around 45.1% share of the market valuation and is predicted to grow at a CAGR of seven .8% throughout the forecasted period.
Some Key Highlights from the Report
- The market trends are in increasing interest, research, and capitalization around using new or non-traditional animals for protein for human consumption. as an example , through a completely unique process referred to as cellular agriculture, animal protein found in milk, meat, and eggs are often manufactured in laboratory settings through cell cultures.
- To satisfy the food demand of the growing population, current food production must be almost doubled in size, which needs to seek out environment-friendly and sustainable food production methods and sources of high nutrition. As per our analysis, meat production is probably going to be unsustainable by 2050, at current and projected rates of consumption, thanks to high resource intensity and destructive cost. This opens a superb opportunity for edible insects that have the potential to satisfy the food need with high nutrition and environmental sustainability.
- Among the plant-based protein space, pea and soy are the simplest known and most generally used protein ingredients from plant protein. The soy ingredient industry has seen dramatic improvements in both process and application technologies within the recent decade.
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The North American region is predicted to dominate the worldwide alternative proteins market within the next five years, due to the rising concern over animal products and protein, increasing vegan population, and increased investment in protein alternative products. The presence of an outsized number of key players with the strong capability of R&D and technology also complements the choice protein market during this region.
For the purpose of this report, Emergen Research has segmented into the global Alternative Proteins Market on the basis of source, application and region:
Source Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Plant Protein
- Algal Protein
- Insect Protein
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Food and Beverages
- Dietary Supplements
- Animal Feed and Pet Food
- Personal Care and Cosmetics
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
Key points covered in the report:
- A detailed outlook of the market with essential data beneficial for business
- Market segmentation based on product types, applications, and end-users. For further understanding, the key segments are further divided into sub-segments
- Growth factors, driving and restraining factors, product trends, and technological advancements are extensively discussed
- Latest product developments, incorporation of new techniques and profiles of major competitors
- An 8-year forecast estimation detailing the growth and expansion scope of the Alternative Proteins market
- In-depth analysis of the historical years (2017-2018) and forecast period (2020-2027)
- Market dynamics with information of players, challenges, restraints, threats, and opportunities
- SWOT analysis and Porter’s Five Forces analysis of the top vendors
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