Alternative Protein Market Overview:
Alternative proteins are also known as meat substitutes. These are designed and manufactured to be used in place of meat products. These are critical when considering the global ecosystem. These reduce the environmental burden by reducing the use of land and feed, as well as encouraging the use of less water. The majority of agricultural land is used to grow feed for livestock; the alternative protein market alleviates this stress on the global agricultural market.
The factors driving the alternative protein market’s expansion are discussed, along with the market’s various segments. Data has been provided by market participants, geographic areas, and particular requirements. This market-ready study proposal includes a thorough rundown of all noteworthy recent developments across all market segments. To present key data analysis, presentations, infographics, and statistics are used. The report discusses the drivers, restraints, opportunities, and challenges facing the alternative protein market. The report offers advice on how to evaluate the factors driving market growth and decide how to employ them as a tool. The report also assists in addressing problems with the state of the market for alternative proteins.
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Alternative Protein Market Dynamics:
A significant factor driving the alternative protein market is rising capital investments in businesses producing plant-based proteins. One Indian business, Proeon, raised US$ 2.4 million in seed money to help the plant-based protein sector. The global market is anticipated to be driven during the forecast period by investments in businesses that produce meat alternatives (2022-2029). The global market is also driven by vegetarianism and veganism. Many consumers have adopted these lifestyles as a result of the increase in obesity and health problems like cardiovascular disease. This trend is anticipated to fuel market growth over the course of the forecast period.
A significant market restraint is consumers’ reluctance to switch from traditional meat to alternatives. The United States and the European Union are two of the biggest meat consumers in the world. The most widely used diet components in these nations are pork, beef, and other meats. It will be challenging to convince these customers to switch to protein substitutes. During the anticipated period, this trend is anticipated to restrain market expansion generally.
Alternative Protein Market Segment:
In 2021, the food and beverage segment will dominate the global alternative protein market by application. This segment is also expected to grow at the fastest CAGR of 5.6% during the forecast period. This can be attributed to the fact that various food alternatives, such as paneer, are rapidly replacing traditional protein sources.
The global market for alternative protein as a dietary supplement is expected to grow significantly. This is related to the demand for protein supplements in the healthcare industry. Doctors are likely to recommend dietary protein supplements to patients suffering from protein-deficient diseases such as Kwashiorkor and Cachexia. These factors are expected to have an impact on the global alternative protein market during the forecast period.
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Alternative Protein Market Key players:
- 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
- Sun Chlorella Corporation
Regional Analysis:
The industry was largely dominated by Europe, followed by North America and the Asia-Pacific region. In the coming years, industry expansion is anticipated to be positively impacted by Germany, France, and Eastern European nations. The market for food emulsifiers is expanding in this region as a result of rising processed food consumption and increased innovation in important end user industries like convenience foods and bakery & confectionary.
Research methodology:
- Top-down and bottom-up methods are used to estimate and validate the size of the worldwide Alternative Protein market. Participants diligently adhere to the many classification requirements set forth by the firm to compile a comprehensive list of notable and active players. The businesses that are most relevant to the market under consideration are chosen after a thorough validation procedure.
- Preference lists are arranged using commercial databases like Factiva, Bloomberg, and others in accordance with the revenue generated in the most recent quarter.
- In addition, the questionnaire was created expressly to meet all requirements for appointment-only primary data collection based on the key target categories. This facilitates our ability to gather data on a variety of topics, including player earnings, operating costs, profit margins, and the expansion of various commodities and services. The World Bank, associations, business websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases, and other sources are used to verify about 70-80% of the data before usage.
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