Market Trends of Protein Alternatives Industry
This section covers the major market trends shaping the Protein Alternatives Market according to our research experts:
Growing Preference For Plant-Based Protein Products
Consumer interest in boosting protein intake is increasing with more attention being paid to the specific types of protein being consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. The shift in consumer demand from animal protein to plant protein can clearly be witnessed with the rise of the alternative protein market. This gradual inclination toward a plant-based diet is largely associated with different factors, such as sustainability issues, health awareness, ethical or religious views, and environmental and animal rights. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant protein.
North America Holds the Largest Market Share
The United States dominates the North American protein alternatives market by more than 60%. While there is still a strong dominance of animal protein among the United States population, plant protein, such as soy, lentils, beans, among others, has been gaining high traction from the past few years. This is due to the high penetration of vegan protein-based products in the retail market and increased consumer awareness about the health benefits associated with it, along with weight management initiatiives. With the existing business opportunities in the protein alternatives market, many companies are strategical, including business expansion plans, specifically in the plant protein category.
