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.
Vancouver, BC -- (SBWIRE) -- 01/19/2021 -- Alternative Proteins Market
Alternative proteins are referred to as plant-based or some other alternatives for animal proteins. Recent popularization of the 'vegan' diet is a major factor boosting the market demand due to the discarding of the animal proteins. Moreover, developments of technologies have helped extract better plant proteins as a substitute for animal protein, like meat and dairy products. The global alternative proteins market is projected to reach a value of USD 3.89 Billion by 2027 from USD 2.20 Billion in 2019, at a CAGR of 7.4% through the forecast period, according to a recent report published by Emergen Research.
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Top Key participants 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.
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.
Market Drivers
Growing concerns regarding animal welfare have popularized the vegan diet, to stop using animal products and consume alternative foods. The alternative proteins market is expected to witness high growth during the forecast period due to the growing interest of the people for healthy foods and animal welfare. The growing disposable income of the people is the main reason for the growth of the demand for premium food products, thus boosting the alternative proteins market.
Source Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Plant Protein
Mycoprotein
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
The North American region is expected to dominate the global market during the forecast period, owing to the growing concerns of the people regarding food products, increasing vegan population, and growing animal welfare concerns. The Asia Pacific region is expected to see substantial growth during the forecast period due to the high demand in the regional market and growing disposable income of consumers in the region.
Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Molecular Diagnostics Point of Care Market Segmentation & Impact Analysis
4.1. Molecular Diagnostics Point of Care Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Evolving consumer and market trends
4.2.2.2. Preferences being shifted to plant protein
4.2.3. Market restraints analysis
4.2.3.1. Economical viability on a large scale
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Alternative Proteins Market By Source Type Insights & Trends, Revenue (USD Million)
5.1. Source Type Dynamics & Market Share, 2019 & 2027
5.1.1. Plant Protein
5.1.2. Mycoprotein
5.1.3. Algal Protein
5.1.4. Insect Protein
Chapter 6. Alternative Proteins Market By Application Type Insights & Trends, Revenue (USD Million)
6.1. Application Type Dynamics & Market Share, 2019 & 2027
6.1.1. Food and Beverage
6.1.2. Dietary Supplements
6.1.3. Animal Feed and Pet Food
6.1.4. Personal Care and Cosmetics
To Be Continued…!
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