Alternative Food Market Future Revenues to Take Flight as Market Size Continues to Expand | Novameat, Cargill, Zhenmeat, Omnifoods, String Bio, Axiom Foods

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.

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Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War. The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations' armed forces. Due to Russia's invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.

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:

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The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include GBeyond Meat, Kelloggs, Nestle, Impossible Foods, Novameat, Cargill, Zhenmeat, Omnifoods, String Bio, Axiom Foods

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 Porters Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Location and Product.

Key Target Audience
Alternative Food Industry Vendors
Alternative Meat Producers
Consulting and Advisory Firms
Government and Policy Makers
Regulatory Authorities

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This release was published on openPR.