Global Alternative Proteins Market - 2022-2029

Global Alternative Proteins Market - 2022-2029

Market Overview

The global cellulose ethers market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).

Alternative proteins are a type of protein derived from plants. The respective proteins are commonly mainly employed in vegetarian and vegan diets. Plant-based, insect-based and lab-grown meat proteins are the most common types. They mimic animal agriculture products and provide consumers with a texture, taste and appearance comparable to animal-based meat products but with a lesser environmental effect.

Market Dynamics

Increasing intolerance towards animal protein and increasing consumer interest in non-meat-based protein options globally is a major market driver for the global alternate protein market. However, allergies linked to alternative proteins could be a major market restraint.

Increasing incidences of intolerance towards animal protein and increasing consumer interest in non-meat-based protein options globally

As the number of vegans grows, so does the number of manufacturers in the sector, creating growth prospects for the market throughout the projection period. Since environmentally friendly eating habits have taken center stage, the alternative protein market has significantly increased. Concerns about human safety, climate change and animal abuse have played a role in the industry's expansion. Consumer preferences are shifting as people become more aware of meat-sourcing procedures, animal-borne diseases and their environmental impact. As a result, more people are avoiding meat intake.

In the foreseeable term, the increased need for protein-rich foods and lower meat consumption in economically developed countries would create profitable chances for the alternative market to flourish. The growing number of non-meat eaters has increased the ratio of vegans in both emerging and developed countries, generating a great demand for alternative protein. Consumers globally are beginning to emphasize sustainable and healthy foods and the plant-based and cultured meat businesses have seen extraordinary growth in recent years.

Allergies linked to alternative proteins

Up to 10% of the world's population suffers from food allergies. More than 26 million persons in U.S. have food allergies and another 24 million believe they have food allergies because of symptoms from other illnesses. As a result, views regarding these allergens impact the purchasing decisions of some 50 million adults in U.S. and hundreds of millions globally.

Food allergies aren't usually the driving force behind the purchase of meat substitutes, but a growing number of businesses are incorporating allergy-friendly ingredients to appeal to a customer base that includes allergic people and families and institutions that must be allergen-aware

COVID-19 Impact Analysis

Plant-based food startups garnered investment from venture capital firms and huge established meat supply companies before the COVID-19 pandemic. As a result of the proliferation of plant-based protein startups, investments in alternative protein manufacturing companies have increased in recent years. The pandemic of COVID-19 has raised awareness of the connection between food, health, food security and sustainability, resulting in a rise in demand for plant-based goods. In recent years, the global spread of coronavirus has had a favorable impact on the alternative protein market. Following the epidemic, some plant-based meat producers announced fresh investments. Impossible Foods, for example, raised US$ 500 million to research novel plant-based meat alternatives for lamb, goat and fish.

It resulted in a 500% increase in sales for meat replacement brands. Because macronutrients, micronutrients and antioxidants are abundant in a protein-based diet, it can reduce the virus's impact on at-risk people. As a result, as the world grapples with the ongoing epidemic, alternative protein production businesses have seen a surge in sales, influencing consumer demand for plant-based snacks, dairy alternatives and supplements to embrace a safer and healthier lifestyle.

Due to the pandemic, some best practice models for the alternative protein business that were previously overly restrictive during the outbreak have been temporarily relaxed. Certain governments have stated that some of the competition law restrictions for alternative proteins, namely for plant-based protein products and insect protein, have been relaxed.

The global alternative proteins market is developing due to rising venture capital investments supporting plant-based product firms' expansion and top meat producers' increased attention to building a portfolio of investments in the insect, plant and lab-grown meat protein space. For example, MycoTechnology (US) raised US$ 120.69 in the Series D round until June 2020. The change to sustainable proteins will be critical in addressing major climate dangers while meeting the need for healthful food in a world with limited resources.

Segment Analysis

The global cellulose ethers market is classified based on type, source, form, application and region.

Shifting consumer preferences toward a more nutritional diet focusing on a more sustainable lifestyle and less reliance on animal proteins allow plant protein to dominate the market

Plant-based proteins are the most well-established and are derived from protein-rich seeds through wet or dry fractionation. The most popular types of plant proteins for consumers are soy, pea and several niche types, such as chickpea, rapeseed and lupin.

Consumer preferences are shifting toward a more nutritional diet focusing on a more sustainable lifestyle and less reliance on animal proteins, shown by changing consumer preferences. Consumers are shifting from traditional animal-based products to organic and plant-based food products as an optimum dietary solution, according to a significant percentage of the millennial population in Western countries

In recent years, the adoption of plant-based food & beverages among consumers has been higher due to the broader scope of product availability, improved product developments and innovation into plant-based proteins and a broader scope of available alternatives and substitutes. The number of consumers becoming flexitarians or vegan offers manufacturers opportunities to introduce and innovate more in the plant protein segment. For instance, Google Adwords data shows a massive increase in the number of searches for vegan-related searches in 2020, up 47% year-on-year. Google search data analyzed for the top 15 most popular countries for veganism showed that the number increased from 13,278,000 in January 2017 to 25,583,000 in January 2020

Geographical Analysis

The protein-rich diet awareness, increasing health consciousness and growing technological advancements in the food & beverages industry boost the demand and sales of alternative proteins in the Asia-Pacific

The Asia-Pacific countries are anticipated to witness the fastest growth over the forecast period because of protein-rich diet awareness, increasing health consciousness and growing technological advancements in the food & beverages industry. The African swine fever, which wiped out millions of pigs and created a shortage of meat protein in Asia in 2018, has exposed the vulnerability of the food system in the region responsible for the highest meat consumption in the world.

Countries with limited local agriculture, such as Hong Kong or Singapore, which currently imports 90 percent of its food, have been especially vulnerable to the supply chain disruptions caused by the COVID-19 pandemic. Alternative proteins derived from plants, insects, fungi or cell cultures could offer a more reliable and sustainable protein source than conventional animal-based products.

Hong Kong is undoubtedly a strong contender for the title of Asia’s center for alternative protein, especially with organizations headquartered there, such as Green Monday. In addition to the Green Common stores, the social venture produces plant-based meat and seafood substitutes OmniFoods and runs educational campaigns on sustainable diets via the Green Monday Foundation.

As alternative protein startups prepare for launch, more collaboration between the government and private sectors can help defray these infrastructure and R&D costs. For instance, corporates with labs and trained personnel may be able to support continued innovation and investment through partnerships with startups, crucially diversifying funding sources to prevent momentum from collapsing in the later stages.

Competitive Landscape

The global cellulose ethers market is huge and is becoming increasingly competitive due to the presence of major players such as Koninklijke DSM N.V., Cargill, Inc, Kerry Group, DuPont de Nemours, Inc, Wilmar International Limited, Agriprotein Holdings Ltd, Ingredion Incorporated, Emsland Group, Ynsect and Cosucra Group. The market is highly fragmented, with several big and small players who employ market tactics such as mergers, acquisitions, product launches, contributions and collaborations to gain a competitive advantage and recognition.

Koninklijke DSM N.V.

Overview: Koninklijke DSM N.V. is a Dutch-based conglomerate operating in health, nutrition and materials. The company has been a renowned supplier of ingredients for various industries, including food, animal feed, pharmaceutical, cosmetics and personal care. With a global operating network and wide product portfolio, the company has evolved as the market leader in the human and animal nutrition ingredients market

The company operates its key business activities under two segments – materials and nutrition. The food & beverage segment produces and sells alternative protein products.

Product Portfolio
• CanolaPRO plant protein: CanolaPRO is a plant-based protein source derived from the canola (or rapeseed) plant that improves vegan and vegetarian products. It is non-GMO, gluten-free and dairy-free and is produced using a unique, solvent-free extraction process to preserve the protein's nutritional and functional benefits.

Key Development
• On July 15, 2020, Koninklijke DSM N.V. and Avril completed their joint venture to develop plant-based proteins. Avril and Koninklijke DSM N.V. finalized their partnership and will begin construction on a manufacturing facility in Dieppe, France, one year after their collaboration. The collaboration of Koninklijke DSM N.V. will enable the production of the company’s product CanolaPRO an alternative plant-based protein.

Why Purchase the Report?
• To visualize the global cellulose ethers market segmentation based on type, source, form application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global cellulose ethers market by analyzing trends and co-development.
• Excel data sheet with numerous cellulose ethers market-level data points with four segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players

The global cellulose ethers market report would provide approximately 69 tables, 70 figures and almost 297 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies