Protein is an essential Macro nutrient and is made up of building blocks known as amino acids. According to FAO, an adult requires 0.75 g per kg per day as safe level intake of protein. The protein deficiency and malnutrition has caused many diseases around the globe. Alternate protein or Novel protein alternative is usually the meat and dairy substitutes, which are processed by the various food and healthcare industries and used widely in the market. This source of protein has created a potential market for the vegan and health conscious consumers. The processed non-animal substitutes include tofu/soya bean, Wheat gluten, Mycoproteins, cultured meat, insects, and Alga spirulina. This alternative product has been able to show reduction in stress over the environmental sources and greenhouse gas emissions. Innovations in the food processing industry paves way for improved and better alternative consumable products than other natural products such as meat, egg, fish, and others. Asia-Pacific is growing at the fastest rate in terms of alternate protein market.

COVID-19 Scenario Analysis:
Lockdown Scenerio
The lockdown scenario due to COVID-19 has affected every segment of the industry. It has brought many companies to a standstill in terms of production, exports, imports, procurement of raw material and revenue generation. The post-COVID-19 scenario is expected to be in favor of the alternate protein market due to increase in the consumer’s purchasing intention and awareness about the alternate options.

Production Hampered
Lockdown has reduced the production and labor shortage in the industries across the globe. The procurement of raw material especially through exports has been impacted on a larger scale.

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Impaired Supply Chain
The COVID-19 situation has led to shutdown of many retail stores, conventional stores, and supermarkets but the e-commerce is distributing channel that is experiencing during the pandemic.

Regulatory Hurdles
The trade restrictions have caused restrictions on export and import from various countries that serve as the raw material source.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
A new generation of products has influenced the consumer buying behavior. The alternate protein products have proven to be sustainable products. Increase in awareness and health consciousness, ease of digestion, allergy concerns, sustainability, vegan protein, high protein quality, high disposable income, urbanization, and customer curiosity drive the growth of the global alternate protein market. These key drivers have shifted the consumer purchasing habit from animal protein to alternative sources of protein. However, varying raw material prices, expensive production techniques and the varying taste of the product hinder the market growth. Contrarily, overcoming the taste gap between the plant-based alternative and animal-based product is a challenge as well as opportunity for this market. The investments in new technology, launches of new and advanced products, requirement for controlling standards in food safety management, trend of taste enhancing ingredients, legislation, litigation, and regulation present new pathways in the industry.

Key Segments Covered:

Type

Protein Isolates
Protein Concentrates
Hydrolyzed

Application

Animal Feed
Bakery &Confectionary
Supplements
Protein Powders
Beverages
Protein Bars
Others

Raw Material

Plants
Algae
Insects
Peas
Cultured Meat
Fermented Products
Whey
Others

Companies Covered: Beyond Meat, R&S Blumos, Cargill Incorporated, Protix, Kerry Group, AgriProtein, Entomo Farms, Archer Daniels Midland Company, Ingredion Incorporated, Glanbia plc, Roquette Freres, Ynsect, Enterra Feed Corporation, Alga technologies Ltd., BlueBio Tech Int., Now Foods, Myco Technology Inc., Solar Foods, Nestle, Burcon Nutra Science and Merit Functional Foods

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Key Benefits of the Report:

This study presents the analytical depiction of the global alternate protein industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global alternate protein market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global alternate protein market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global alternate protein market analysis based on competitive intensity and how the competition will take shape in the coming years.