According to the recent research report titled ‘Global Alternative Food Market - Analysis By Type (Alternative Meat, Alternative Dairy Products), Usability, End User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)’ available with MarketStudyReport, global alternative food market accounted for USD 10.7 billion in 2021 and is predicted to record healthy growth rate through the forecast duration.

The growing vegan population, the increasing prevalence of investments in alternative protein products, and technological developments in the food are primarily contributing towards global alternative food market growth.

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The concept of a healthy lifestyle supported by the incorporation of plant-based alternatives has been embraced by consumers who are becoming more open to the idea of plant-based products. The other factors assisting in the market expansion are growing preference towards healthy and nutritional products and widespread adoption of protein food products using sustainable methods due to rising ecological issues and ethical aspects associated with animal protein.

This research report provides detailed information on the major market dynamics, expansion drivers, development opportunities, and restraints that may influence the overall industry landscape during the study duration. The market segments are thoroughly examined, including types, by usability, end-user reach, and regional analysis.

Global alternative food marketplace, by type, is split into alternate dairy products and alternate meat types. The alternate meat segment captured large market size in 2021 and is predicted to witness healthy CAGR through the forecast duration owing to increased health concerns and shifting consumer psychology from animal-based foods.

Moreover, the alternate dairy products segment is predicted to acquire a market share of 34% by the end of 2027 due to an increase in the number of people facing allergies because of dairy.

In terms of usability, the market is bifurcated into finished products and raw materials. By end-user reach, this marketplace is divided into households and HoReCa segments.

The regional landscape of global alternative food market space spans Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to witness a considerable growth rate during the forecast duration owing to the increasing prevalence of investments in alternative protein products, and technological developments in the food industry.

The competitive landscape of global alternative food industry vertical includes companies such as Axiom Foods Inc., String Bio Pvt. Ltd., Omnifoods, ZhenMeat, Cargill Inc., Novameat, Impossible Foods Inc., Kellogg's Company, Nestlé S.A, and Beyond Meat Inc.