VANCOUVER, BC, Sept. 22, 2020
- 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
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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)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
5. Rest of Europe
3. South Korea
4. Rest of APAC
2. Rest of LATAM
1. Saudi Arabia
3. Rest of MEA
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