Product Launch (Blog)

Jul, 17 2023

Consider Sustainable Protein Substitutions to Raise the Plate

 

The global alternative proteins market refers to the industry involved in the production, distribution, and consumption of protein sources that are alternatives to traditional animal-based proteins. These alternative protein sources include plant-based proteins, such as soy, pea, and wheat protein, as well as proteins derived from insects, algae, and cultured cells. The market is driven by factors such as increasing consumer demand for sustainable and plant-based food options, health and wellness trends, and environmental concerns related to animal agriculture. The market is expected to witness significant growth as consumers seek innovative and sustainable protein alternatives.

According to Data Bridge Market Research, the Alternative Proteins Market is valued at USD 349.42 million in 2021 and is expected to reach the value of USD 1,068.88 million by 2029, at a CAGR of 15.00% during the forecast period of 2022-2029. 

"Increasing consumer demand for plant-based and alternative protein sources surge market demand"

There is a notable increase in consumer demand for plant-based and alternative protein sources due to various factors. Growing awareness about the environmental impact of animal agriculture, concerns about animal welfare, and a desire for healthier and more sustainable food options have contributed to this trend. Consumers are seeking protein alternatives derived from plants, insects, and other sources that offer nutritional benefits while addressing these ethical and environmental concerns.

What restraints the growth of the alternative proteins market?

"Limited consumer awareness and understanding can impede the market growth”

While there is a growing interest in alternative proteins, many consumers still lack awareness and understanding of their benefits and availability. Education and outreach efforts are crucial to informing consumers about the various types of alternative proteins and their nutritional and environmental advantages. Promoting awareness through marketing campaigns, nutritional education programs, and collaborations with retailers and food service providers can help bridge this knowledge gap and drive consumer acceptance and adoption of alternative proteins.

Segmentation: Global Alternative Proteins Market  

The alternative proteins market is segmented on the basis of category, product type, form, and application.

  • On the basis of category, the alternative proteins market is segmented into organic and inorganic
  • On the basis of product type, the alternative proteins market is segmented into alternative proteins, Insect Protein, mycoprotein, cultured meat and others
  • On the basis of form, the alternative proteins market is segmented into dry and liquid
  • On the basis of application, the alternative proteins market is segmented into food and beverages, animal feed, pharmaceuticals, personal care and cosmetics and others

Regional Insights: North America Dominates the Global Alternative Proteins Market  

North America's dominant position in the alternative proteins market can be attributed to an Due to growing environmental and ethical concerns about animal protein, an increase in the number of investments in alternative protein products, a rise in the demand for wholesome and nutritious goods, and technological developments in the food industry, there is a greater emphasis on producing protein using sustainable methods.

During the forecast period, Asia-Pacific is expected to have the highest CAGR. The importance of diets high in protein has become more widely recognized, technology advancements in the food and beverage sector, a rapidly expanding economy, and a wide variety of raw materials are all contributing factors to the regional market's explosive growth.

To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-alternative-proteins-market

Recent Developments in the Global Alternative Proteins Market  

  • In 2022, Netherlands-based Protix raised €50 million in equity for global expansion.
  • In 2021, Calysta (U.S.) raised $39 million in funding to support the expansion of FeedKind protein production across the globe.
  • In 2020, To finance its growth and expansion, Entomo Farms (Canada) raised Canadian Dollars (C$) 3.7 million ($2.9 million) in a funding round in January 2021 that was co-led by Asian and Canadian investors.
  • In 2020, Investors contributed $120.69 million to a Series D financing round for MycoTechnology (U.S.).
  • In 2020, The $75 million investment will be made by Mitsubishi Corporation, Blue Horizon Ventures, Target Global, ArcTern Ventures, and Rubio Impact Ventures in the Dutch food technology company Mosa Meat.
  • In 2020, An insect protein producer based in Thailand, Cricket Lab, secured $2.1 million in funding.

 The Prominent Key Players Operating in the Global Alternative Proteins Market Include:

  • Glanbia plc. (Ireland)
  • Now Health Group, Inc. (U.S.)
  • Nutiva Inc (U.S.)
  • The Simply Good Food Co (U.S.)
  • Iovate Health Sciences International Inc. (Canada)
  • MusclePharm Corporation (U.S.)
  • Kerry Group Plc (Ireland)
  • CytoSport, Inc. (U.S.)
  • The Nature's Bounty Co. (U.S.)
  • Reliance Vitamin Company, Inc. (U.S.)
  • Herbalife Nutrition, Inc. (U.S.)
  • Danone SA (France)
  • General Nutrition Centers (GNC) Holdings, Inc. (U.S.)
  • Orgain Inc. (U.S.)
  • True Nutrition (U.S.).

Above are the key players covered in the report, to know about more and exhaustive list of global alternative proteins market   companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Alternative Proteins Market  

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.

 


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