Rising per capita income of consumers and increasing demand for vegan and plant-based products are some key factors driving market revenue growth
VANCOUVER, BC, CANADA, April 6, 2022 /EINPresswire.com/ — The global Alternative Proteins Market is projected to reach USD 37.64 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.
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Top competitors of the Alternative Proteins Market profiled in the report 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.
According to our analysts, between the span of 2019 and 2025, most of the demand for alternative proteins is predicted to be driven by urbanization with new consumer aspiration including 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 helps 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.
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 seven .8% throughout the forecasted period.
Some Key Highlights from the Report
The market trends are in 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, animal protein found in milk, meat, and eggs are often manufactured in laboratory settings through cell cultures.
To satisfy the food demand of the growing population, current food production must be almost doubled in size, which needs to seek out 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 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, and increased 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.
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Furthermore, the report divides the Alternative Proteins Market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Source Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Food and Beverages
Animal Feed and Pet Food
Personal Care and Cosmetics
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According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Overview of the Alternative Proteins Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Alternative Proteins industryy
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a ‘Circular Economy,’ fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.