According to a research report published by Azoth Analytics in July 2020, the Global Alternative Proteins Market was valued at USD 14952.58 Million in the year 2019. The growth in the market for Alternative Proteins is chiefly accredited to the rising number of buyers demanding plant-based meat products either for clinical reasons or for a healthy lifestyle. Also, the manufacturers making continuous efforts in research and development for healthy products which are accelerating demand for Alternative Proteins such as Soy Protein, Pea Protein, whey protein, and insect proteins across the regions over the forecasted period.
The global Alternative Proteins market will be majorly propelled by the rising number of flexitarians across the regions. Additionally, 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. The growth of the market is supported by the Coronavirus pandemic in 2020 as the disease is supposed to be an animal-borne disease due to which people started preferring plant-based products all over the world. Also, market leaders are increasing the level of production amid pandemics and also offering discounts on their plant-based meat products to enhance consumer base which is supporting the market growth.
Among the regions, North America is followed by Europe and Asia Pacific. Asia Pacific region is the most attractive region for the growth of the Alternative Proteins market owing to rise in the veggie lovers and the rising trend of vegetarianism among the masses. Also, change in lifestyle, rising awareness about protein-rich health supplements, growing acceptance of plant products due to their advantages associated with health, and the existence of global leaders in the region are expected to pull the market growth.
The Azoth Analytics research report titled “Global Alternative Proteins Market - Analysis By Product, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)” has analyzed and segmented the Alternative Proteins Market by Value (USD million). The report has further analyzed the Alternative Proteins Market By Product (Soy Protein, Insect Protein, Pea Protein, Alternative Dairy, Whey Protein, Cultured Meat, and Others). By Application (Nutrition and Health Supplements, Food & Beverages, Animal Feed, Others). The Global Alternative Proteins Market has been analyzed By Region (North America, Europe, and the Asia Pacific) and By Country (US, Canada, France, UK, Belgium, Germany, China, India, South Korea, and Japan) for the historical period of 2015-2019 and the forecast period of 2020-2025.
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