Global Alternative Proteins Market Forecast 2020-2025

Posted by Bharat Book on January 5th, 2021

Executive Summary

Global Alternative Proteins Market valued at USD 14.95 billion in the year 2019 has been backed by rising number of buyers demanding plant-based meat product either for clinical reasons or for practicing healthy lifestyle. Also, the manufacturers making continuous efforts in research and development for healthy products which are in turn accelerating demand for Alternative Proteins such as Soy Protein, Pea Protein, whey protein and insect proteins across the regions. Further, people allergic to dairy products are enhancing the demand for dairy alternatives which in turn expected to facilitate the Alternative Proteins market. Furthermore, alternative protein products can overcome the negative environmental impact faced by industrial meat processing industry associated with red meat creation. The red meat is the major contributor of greenhouse gas emissions and therefore, rising environmental awareness is also accelerating the demand for plant-based protein products.

Also, rising obesity rates across the globe, coupled with consumer interest in healthier food alternatives, are also expected to drive the demand for meatless proteins during the forecast period of 2020-2025. During the beginning of the coronavirus pandemic, the meat business was hammered by warnings of meat deficiencies because of temporarily shuttered plants and growing number of sick workers. Conventional meat distribution channels were overturned as the contagion is supposed to be an animal-borne disease. Such conditions possibly opened doors for plant-based organizations. The market leaders such as Beyond Meat Inc., Impossible Foods Inc., and Tofurky Co. are increasing the level of production amid pandemic and also offering discounts on their plant-based meat products to enhance consumer base, expanding stores, and completing partnership with the stakeholders.