Executive Summary The Global Alternative Food Market was valued at USD 10.7 billion in the year 2021 with North America leading the regional market share. The increasing focus on producing protein using sustainable methods due to rising environmental concerns and ethical aspects associated with animal protein, the increasing vegan population, the rising number of investments in alternative protein products, the increasing demand for healthy and nutritional products, and technological advancements in the food industry are all contributing to North America’s prominent position in the alternative food market.
Based on the type segment, the Alternate Meat segment captured the major share in the global market in 2021. The market for alternate meat has been fuelled by increased health concerns and shifting consumer perceptions. Consumers who are increasingly open to the idea of plant-based products have embraced the idea of a healthy lifestyle supported by the integration of plant-based alternatives.
The North American region is estimated to have the maximum share in the global Alternative Food market followed by Europe. However, the new emerging markets in the APAC region will witness the fastest growth rate in the forthcoming years.
Moreover, the alternate dairy products segment is expected to acquire a market share of around 34% in the year 2027. In both the mature and emerging markets, dairy replacements have proven to be extremely popular. This is due to an increase in the number of persons who are allergic to dairy.
Scope of the Report ? The report presents the analysis of the Alternative Food market for the historical period of 2017-2021 and the forecast period of 2022-2027.
? The report analyses the Alternative Food Market by Value (USD Million).
? The report analyses the Alternative Food Market by Type (Alternate Meat, Alternate Dairy Products).
? The report analyses the Alternative Food Market by Usability (Raw Material, Finished Product).
? The report analyses the Alternative Food Market by End User (Horeca, Households).
? The Global Alternative Food Market has been analysed by countries (United States, Canada, United Kingdom, Italy, France, Germany, China, Japan, India, Australia, Brazil).
? The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Location and Product.
? Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
? The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include GBeyond Meat, Kellogg’s, Nestle, Impossible Foods, Novameat, Cargill, Zhenmeat, Omnifoods, String Bio, Axiom Foods.
Key Target Audience
? Alternative Food Industry Vendors
? Alternative Meat Producers
? Consulting and Advisory Firms
? Government and Policy Makers
? Regulatory Authorities
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