The protein alternatives market is expanding as health awareness rises, with North America leading. COVID-19 shifted focus to online sales and innovation.
Covid-19 Scenario Analysis
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increasing concern of people toward a healthy lifestyle is boosting the growth of protein alternatives market. The increasing awareness about the vegan products is shifting the preference of people from animal protein to plant-based protein. The plant-based proteins are a healthy option for protein and provide similar benefits as the animal protein. Hence, they are widely used in the food & beverages industry. Along with this, increasing awareness about animal nutrition and rising number of pet grooming services have enabled the usage in animal feed. Alternative proteins like soy and pea protein are widely used in meat-free burgers and sausages. Also, plant-based proteins meet the standards of various food authorities. They have less chance of food-borne bacteria.
Also, increase in the number of e-commerce websites and the expansion of distribution channels has helped in creating transparency about the product.
New Product Launches to Flourish the Market
Key market players are introducing new products in the product line of alternative proteins so that the consumers get easily accustomed to. They are focusing on consumer satisfaction and brand loyalty and using this as a viable methodology to extend their global footprint. They are expanding their business through mergers & acquisitions, collaborations, and joint ventures. The investments in innovation & technology, continuous research & development, and product standardization are creating ample opportunities for the protein alternatives market.
Regional Outlook
North America has the highest share in the protein alternatives market, and is expected to increase during the forecast period, due to increasing demand for plant-based proteins and protein-rich diet.
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The article discusses the growth and adaptation of the protein alternatives market post-COVID-19.
COVID-19 halted production but increased online sales and strategic planning by companies.
Health awareness, vegan product popularity, and new product launches drive growth.
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<p><strong>Protein Alternatives Market Outlook – 2028</strong></p>
<p>Protein alternatives are the substitutes for animal-based protein. Based on the source, the protein alternatives market is broadly classified into plant protein, mycoprotein, algal protein, and insect protein. The increasing awareness about the consumption of health benefits offered by vegan food is stimulating the demand of protein alternatives. One can expect that the protein alternatives market will grow at a substantial rate during the forecast period.</p>
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