Alternative Protein Market

Plant-based sources segment is expected to hold the largest market share during the forecast period

The plant-based source segment of the Alternative Protein market is projected to acquire the largest market share during the forecast period. The increasing prevalence of lifestyle and chronic disorders owing to unhealthy diets has led to shift the consumers towards plant-based or vegan food diets in order to maintain a healthy lifestyle and thus boosting the demand for plant-based Alternative Protein during the forecast period. The intolerance of animal protein and the rising prevalence of lactose intolerance have generated an increase in the number of vegan populations which is expected to rise the demand for plant-based Alternative Protein products in the years to come.

The meat analog segment is expected to grow at the highest CAGR during the forecast period

The meat-analog application sector of the Alternative Protein market is projected to grow at the highest CAGR during the forecast period. The factors such as growth in the risk of animal-borne diseases related to meat products and the increasing concerns of health disorders owing to high consumption of meat and meat products have shifted the heath-conscious consumers towards meat analog and thus driving the demand for Alternative Protein in the years to come. Moreover, the demand for meat-analog has increased from the last few years owing to the rising demand from large-scale food joints, and the foodservice sector which is driving the demand for the meat analog sector in the Alternative Protein market during the forecast period.

North America is estimated to hold the largest share of the Alternative Protein market

The valuable position of North America in the Alternative Protein market is mainly attributed to the animal feed industry and deep-rooted food which is increasing the demand for Alternative Protein in the North American region. The rising concerns over animal products and protein, growth in the preference for meat alternatives, and increasing vegan population are also the prime factors boosting the growth in the Alternative Protein market during the forecast period. The increasing investments in protein alternative products, technological advancement in the food industry, and growth in the demand for healthy and nutritional products are expected to drive the demand for Alternative Protein in different regions in the upcoming years.