MARKET REPORT 84 FEED & ADDITIVE MAGAZINE December 2023 with animal proteins, growing vegan population, increasing number of investments in alternative protein products, growing demand for healthy and nutritious products, and increasing focus on protein production through sustainable methods thanks to technological advances in the food industry. However, the dense livestock population and high meat consumption, as well as the development of the pet food sector, also mediate the growing demand for alternative protein for feed in the region. Nonetheless, the Asia-Pacific alternative protein market is expected to register the highest CAGR during the forecast period 2023-2030. The growth of this regional market is mainly attributed to the growing awareness regarding the importance of protein-rich diets, increasing technological advancements in the food & beverage industry, rapidly growing economy, and ample availability of raw materials. In addition to this, increasing efforts of private companies towards boosting alternative protein innovation is also expected to drive the market growth in the region. Europe is another major regional force in the alternative protein market. For similar reasons as in North America, the demand for alternative protein options from both the food and feed sectors continues to grow rapidly here. Yet, stringent legislation in the region is considered to be an important factor causing the market to grow at a slower rate. References: 1. F&A Alternatif Proteins Edition, March 2023 Issue – October 2023 Issue, https://www.feedandadditive.com/ fa-alternative-proteins-edition/ 2. Good Food Institute Europe, https://gfieurope.org/ industry/ 3. Research Nester, Alternative Protein Market Size, Growth Analysis 2023-2035, March 2023, https://www. researchnester.com/reports/alternative-protein-market/4748 4. Meticulous Market Research Pvt. Ltd., Alternative Protein Market - Global Forecast to 2030, November 2023, https://www.meticulousresearch.com/ product/alternative-protein-market-4985 5. Research and Markets, Alternative Protein Market by Type, Application, and Geography - Global Forecast to 2030, November 2023, https://www.researchandmarkets.com/report/alternative-protein 6. DataM Intelligence, Alternative Proteins Market Size, Share, Industry, Forecast and Outlook (20232030), October 2023, https://www.datamintelligence. com/research-report/alternative-proteins-market 7. InsightAce Analytic Pvt. Ltd., Alternative Proteins Market Share, Size, Growth and Forecast to 2031, https://www.insightaceanalytic.com/report/global-alternative-proteins-market/10851
RkJQdWJsaXNoZXIy MTUxNjkxNQ==