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InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled “Global Alternative Proteins Market by (product (Pea Protein, Soy Protein, Cultured Meat, Mycoprotein, Insect Protein, Whey Protein, Alternative Dairy and Others), Application (Foods and Beverage, Animal Feed, Nutrition and Health Supplements and Others (Pharmaceuticals, etc)) – Market Outlook and Industry Analysis 2030”
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In developed economies, consumer awareness of and interest in alternative proteins is growing. For years, meat was the primary source of protein in developed markets, and in recent years, there has been an increased need for traditional protein in developing markets. However, changing consumer behaviour and interest in alternative protein sources—driven in part by health and environmental concerns and concerns about animal welfare—have paved the way for the alternative protein market to grow.
Market Dynamics:
Numerous newcomers to the alternative-protein space are already introducing new technologies and ingredients, while others attempt to establish a foothold in the market. Several factors contributed to the increased consumer interest in alternative protein, including increased concern about health and the development and widespread commercialization of plant-based protein foods.
Alternative proteins are intended to compete in taste and price with conventional meat, seafood, eggs, and dairy. Alternative meats, specifically plant-based and cultivated meats, offer a once-in-a-generation opportunity for widespread consumption shifts. Globally, the shift away from meat toward plant-based foods and the adoption of alternative meats has accelerated. The rising number of health-conscious customers, the growing trend toward veganism, and the increasing number of venture investments in alternative protein companies are all expected to provide growth opportunities for the market. The COVID-19 outbreak increased the alternative protein industry significantly. COVID-19 pandemic resulted in an increase in the use of alternative proteins due to the coronavirus’s disruption of the global food supply chain. Spreading Covid-19, it contributes to global cooperation on climate change by accelerating the transition to plant-based and alternative protein foods.
North America is projected to gain significant market Share for Alternative Proteins during the forecast period. The United States currently consumes more meat per capita than any other country on Earth. The high meat consumption in the American diet contributes to greenhouse gas (GHG) emissions, health problems, animal suffering, local pollution, and inhumane working conditions. However, over the last decade, the United States has seen a boom in the alternative meat industry, with products cultivated by companies such as Beyond Meat and Impossible Foods, Mosa Meat, Memphis Meats, Blue Nalu, and Eat Just.
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The following key companies are engaged in the Alternative Proteins market:
AlgaeCan Biotech Ltd., Algatechologies Ltd., Archer Daniels Midland Company, Armstrong Cricket Farm Georgia, Aspire Food Group, AXIOM Foods Inc., BENEO GmbH, BlueBioTech Int. GmbH, Burcon NutraScience Corporation, Cargill Incorporated, Cellana Inc., Cellular Revolution, Clear, Meat, CHS Inc., Coalo Vally Farms, Corbion NV, DIC Corporation, E.I. Dupont de Nemours and Company, E.I.D. – Parry, Enterra Feed Corporation, EntoCube, Entofood, Sdn Bhd., Entomo Farms, EnviroFlight LCC., Farbest Brands, Glanbia Plc, Global Bugs, Asia Co. Ltd., Ingredion Inc, Aleph Farms Ltd. , Finless Foods Inc. , Avant Meats, Company Limited , Balletic Foods, BlueNalu, Inc., Beyond Meat, Impossible Food Inc., Maple Leaf Foods, The Vegetarian Butcher, MycoTechnology Inc., Now foods, Parabel Inc., Plantible Foods Inc., Pond Technologies Inc., Proti-Farm Holding NV, Protix, Rocky Mountain Micro Ranch, Roquette Frères Le Romain, Sotexpro, Sun Chlorella Corporation, Taiwan Chlorella Manufacturing Company, Tate & Lyle Plc, Tianjin Norland Biotech Co. Ltd, Tiny Farms, Ynsect, Novel Farms, Inc., Fork & Goode, New Age Meats, ORF Genetics, Lab Farm Foods, Mosa Meat, Memphis Meats, Peace of Meat, Wild Earth, Turtle Tree Labs, Integriculture Inc, Shiok Meats Pte. Ltd., Supermeat , Just, Inc., Gardein Protein International (Pinnacle Foods), Morningstar Farms, Quorn Foods, Amy’s Kitchen, Tofurky, Gold&Green Foods Ltd., Sunfed, VBites Foods Limited, Biotech Foods SL, Future Meat Technologies Ltd., Appleton Meats, Higher Steaks, The Better Meat Co., Biofood Systems LTD., Lightlife Foods, Field Roast, Naturli´ Foods A/S, Schouten, Sweet Earth Foods and Impossible Foods among others.
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