According to the recent research report titled ‘Global Alternative Proteins Market - Analysis By Product, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global alternative proteins market was valued at USD 14.95 billion in 2019 and is expected to register decent growth during 2020-2025.
 

Growing inclination of customers towards plant-based meat products for medical reasons or to live a healthier lifestyle is primarily fueling global alternative proteins market growth.
 

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Moreover, manufacturers are increasingly investing in research & development for healthy products, which is driving demand for alternative proteins including pea protein, soy protein, whey protein, and insect proteins worldwide.
 

Individuals allergic to dairy products are looking for healthier alternatives, which is projected augment the market growth. Furthermore, alternative protein alternatives are likely to mitigate the negative environmental impact associated with red meat production. Red meat is a major source of greenhouse gas emissions, thus growing environmental consciousness is adding to the popularity of plant-based protein alternatives.
 

Given the temporary shutdown of operations with concerns of meat shortages and growing number of sick workers, the meat industry witnessed a slump in during the COVID-19 pandemic. Since the outbreak is thought to be an animal-borne disease, traditional meat distribution methods were overturned, paving the way for plant-based organizations.
 

Market leaders such as Impossible Foods Inc., Beyond Meat Inc., and Tofurky Co. ramped up production amid the pandemic while simultaneously offering discounts on their plant-based meat products to expand their customer base, open more outlets, and complete their partnerships with stakeholders, further augmenting global alternative proteins industry share.
 

Based on product type, soy segment significantly contributes to the overall market growth at present, due to surging demand due backed by growing consumer awareness of soy's multiple medical benefits and rising use in wafers, snacks, cookies, and other food products.
 

Meanwhile, pea segment is expected to expand throughout the anticipated period, as it is a high-quality and protein-rich option for veggie lovers, lactose-intolerant, and vegan customers, and those looking for nutrient-dense protein substitutes. Insect protein segment is also projected to develop at a robust CAGR through 2025, owing to its high protein content and sustainability.
 

As per application spectrum, food & beverage segment of worldwide alternative proteins marketplace is predicted to grow substantially over 2020-2025, creditable to ever-increasing demand for plant-based proteins for all age groups, along with preference for pea protein, and growing use of insects in animal feed.
 

Geographically, Asia Pacific is the most promising region for market players due to an increase in veggie lovers and growing trend of vegetarianism. Changes in lifestyle, rising cognizance of protein-rich health supplements, growing acceptance of plant-based products due to health benefits, and the presence of global leaders in the region are all projected to drive regional market expansion.
 

Major companies operating in global alternative proteins market sphere are Glanbia plc, DuPont de Nemours Inc., Cargill Inc., Ingredion Incorporated, and Archer-Daniels-Midland Company among others.