Alternative Proteins Market Outlook:
Alternative proteins are the protein source that is obtained from a plant source. These proteins are associated with meat-free and dairy-free diets. The proteins are generally classified into plant-based, insect-based and lab-grown meat. They are the products that replicate animal agriculture products and offer consumers products that save similar texture, taste and look to animal-based meat products but with lower sustainability impact.
The global alternative proteins market size is projected to show significant growth by reaching up to USD billion by 2027, growing at a CAGR of 12% during the forecast period (2022-2029).
The global alternative protein market is majorly driven by increasing intolerance towards animal protein and increasing consumer interest in non-meat-based protein options worldwide. Continuous developmental innovation in food technology has refined alternative proteins, thus aspiring consumers to shift their belief to alternative proteins.
The global outbreak of coronavirus has shown a positive impact on the alternative proteins market in recent times. The growing rumours about the transmission of viruses with meat have severely impacted many meat production companies’ global businesses. Raising awareness among consumers towards adopting plant-based food products has accelerated alternative proteins in recent times.
Asia-Pacific region dominated the global market of alternative proteins in recent times. Among all regions, Asia-Pacific is proliferating, mainly due to rising knowledge of protein-rich diets, increasing health awareness, increasing technological developments in the food & beverage industry, coupled with cheap raw material factors that drive the region’s alternative protein market.
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- Plant Protein
- Insect Protein
- Algal Protein
- Cultured Meat
- Food & Beverages
- Animal Feed & Pet Food
- Personal Care and Cosmetics
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Some of the Major Players Covered in the global Market:
Some of the key players contributing to the market’s growth include Cargill, Inc, Kerry Group, DuPont de Nemours, Inc, Wilmar International Limited, Agriprotein Holdings Ltd, Ingredion Incorporated, DSM, Emsland Group, Cosucra Group, Batory Foods and among others.
Meat Alternatives Market is segmented By Type (Tofu, Tempeh, Textured Vegetable Protein, Others), By Source (Soy, Wheat, Mycoprotein, Others), By Sales Channel (Super Markets, Convenience Stores, Online Sales Channels, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Plant Proteins Market is segmented By Type (Protein Concentrate, Protein Isolate, Textured Protein), By Source (Pea Protein, Soy Protein, Wheat Protein, Other vegetable Protein), By Application (Animal Feed, Food Ingredients (Bakery and confectionery, Beverages, Energy and sports drink, Meat Analogues, Ready to eat), Pharmaceuticals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
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The Full Report has the below insights
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