North America Alternative Proteins Market, By Category (Organic and Inorganic), Product Type (Plant Protein, Insect Protein, Mycoprotein, Cultured Meat and Others), Form (Dry and Liquid), Application (Food and Beverages, Animal Feed, Pharmaceuticals, Personal Care & Cosmetics and Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2027
Market Analysis and Insights: North America Alternative Proteins Market
The alternative proteins market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.6% in the forecast period of 2020 to 2027 and is expected to reach USD 13,548,302.43 thousand by 2027. The health benefits associated with the consumption of alternative proteins are high and thus they are attracting many health conscious consumers towards alternative proteins and boosting the growth of the alternative proteins market.
The rising demand for alternative proteins in wide industrial applications is accelerating the use of alternative proteins products which drives the alternative proteins market growth. Allergies associated with alternative proteins are acting as a restrain for the alternative proteins market in the above mentioned period.
The environmental effects of traditional meat production are dangerous and the alternative proteins production does not emit greenhouse gases and thus they do not cause any harm to the environment and hence it is an opportunity for alternative protein producers in the alternative proteins market in future. There are several risks associated with the consumption of insect protein which can act as a challenge for the alternative proteins market.
This alternative proteins market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the alternative proteins market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Alternative Proteins Market Scope and Market Size
The alternative proteins market is segmented into four notable segments which are based on category, product type, form and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of category, the alternative proteins market is segmented into organic and inorganic. In 2020, inorganic segment has the largest market share owing to the factors such as the huge portion of farming is in the inorganic cultivation and hence the inorganic products are more as compared to the organic products.
- On the basis of product type, the alternative proteins market is segmented into plant protein, insect protein, mycoprotein, cultured meat and others. In 2020, plant protein segment is dominating in the alternative proteins market as plant protein is manufactured by fruits, soy-based ingredients and nuts which are used to provide texture and flavor to meat or other food ingredients in various dishes.
- On the basis of form, the alternative proteins market is segmented into dry and liquid. In 2020, dry segment is dominating in the alternative proteins market owing to factor that it is easy for the transportation and storage.
- On the basis of application, the alternative proteins market is segmented into food and beverages, animal feed, pharmaceuticals, personal care & cosmetics and others. In 2020, food & beverages segment is dominating in the alternative proteins market due to increasing use of plant-based proteins as meat substitutes.
North America Alternative Proteins Market Country Level Analysis
North America alternative proteins market is analysed and market size information is provided by country, category, product type, form and application as referenced above.
The countries covered in the North America alternative proteins market are the U.S., Canada and Mexico.
The U.S. is expected to grow with the most promising growth rate in the North America alternative proteins market in the forecast period of 2020 to 2027 as the major industrialists are focusing to develop food and beverages products consisting alternative proteins which consumes wide range of kernels and processed form of alternative proteins for confectioneries, bakery and flavoured drinks in the food service sector.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Alternative Proteins
Alternative proteins market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in alternative proteins and changes in regulatory scenarios with their support for the alternative proteins market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Alternative Proteins Market Share Analysis
Alternative proteins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America alternative proteins market.
The major players covered in the North America alternative proteins market report are AgriProtein, Enterra Feed Corporation, Cargill, Incorporated, Axiom Foods, Inc, BENEO, NOW Foods, Roquette Frères, Farbest Brands, Parabel, ADM, DuPont, CHS Inc., Ingredion Incorporated, Kerry Group plc, EntomoFarms and Glanbia plc among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of alternative proteins market.
For instance,
- In August 2019, DuPont Nutrition & Biosciences (DuPont) received the Food Ingredients Innovation Award in the category of the “Most Innovative Ingredient of the Year” and attained the second place. This award is for the Danisco VEGE Cultures line. The product line was launched in February in South America and this has supported the fermented plant-based beverages and foods production. This award created a brand value of company in the plant-based alternatives market.
- In March 2016, Cargill, Incorporated has acquired the FPL Food, LLC. The company acquired the ground beef processing plant of FPL Food, LLC in Columbia. The acquisition has enhanced the ability of Cargill, Incorporated to serve foodservice and Eastern retail customers. This has helped the company to expand its protein business and it has ensured to better serve foodservice and retail customers where the demand for ground beef is high.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for alternative proteins through expanded range of size.
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