- The growth of the market is attributed to new product launches, rise in research and development activities, venture investments, and increasing consumer inclination towards a vegan diet.
- 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 of food consumption
VANCOUVER, BC, Sept. 22, 2020 /PRNewswire/ -- 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.
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.
According to our analysts, between the span of 2019 and 2025, the demand for alternative proteins is predicted to be mainly driven by urbanization with new consumer aspiration, including a 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 help 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.
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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 7.8% through the forecast period.
Key Highlights From The Report
- To satisfy the food demand of the growing population, the current food production must be almost doubled, which needs to be done through the use of 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.
- The market trends include the 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, an animal protein found in milk, meat, and eggs are often manufactured in laboratory settings through cell cultures.
- DuPont Nutrition & Health, which is a Dow DuPont Specialty Products Division business, in March 2019 added six plant protein nuggets to its Supro and Trupro product range. The new ingredients contain more protein or less sodium than previous offerings, and that they are available a variety of formats and textures for usage in nutrition bars, snacks, and cereals, which are particularly consistent with the corporate.
- 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, as well as the surging 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.
- Key participants include Kerry Inc., DuPont de Nemours Inc., Corbion NV, Glanbia PLC, Tate & Lyle PLC, The Archer Daniels Midland Company, Ingredion Incorporated, and Cargill Incorporated, among others.
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For the purpose of this report, Emergen Research has segmented 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 Beverage
- Dietary Supplements
- Animal Feed and Pet Food
- Personal Care and Cosmetics
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
5. Rest of Europe
- Asia Pacific
3. South Korea
4. Rest of APAC
- Latin America
2. Rest of LATAM
- Middle East & Africa
1. Saudi Arabia
3. Rest of MEA
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