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The “Protein Alternatives – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Protein Alternatives Market to Reach $4.4 Billion by 2026
The global market for Protein Alternatives estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 8% over the analysis period.
The Protein Alternatives market in the U.S. is estimated at US$1.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$322.5 Million by the year 2026 trailing a CAGR of 9.5% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.
Alternative protein or alternative meat is anticipated to be increasingly integrated into the global protein supply industry going forward as people realize the risks associated with consuming animal protein.
Already, products with alternative proteins, for example Beyond Meat and Impossible Burger, have been attracting consumers in a big way, in the recent years. Consumers wary about animal suffering and with an intention to reduce personal environmental footprint started consuming such products and with increasing demand, many more manufacturers emerged offering similar products.
Beyond Meat burger makes use of 99% less water and 93% less land and generates 90% less emissions when compared a regular beef burger, as per its life-cycle assessment, reasons enough for making the product popular among consumers intending to `save the earth`. Furthermore, it is a known fact that plant-based foods lower chronic diseases and mortality rates.
This had also created interest in such alt-meat based products among consumers. Even though currently alt-meat products are more expensive compared to options…
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