Protein Alternatives Market size was valued at $16.6 billion in 2021, and is projected to reach $73.9 billion by 2031, growing at a CAGR of 16.2%
Protein Alternatives Market size was valued at $16.6 billion in 2021, and is projected to reach $73.9 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.
The analysis offers a detailed understanding of the market penetration of various Alternative Protein kinds, uses, and sales channels with associated future possibilities, supported by current industry specialists. Additionally, customisation options include the market share of Alternative Proteins according to important criteria like manufacturing processes/technology and raw materials. This gives the client the ability to choose the category with the greatest development potential based on those growth rates and the accompanying drivers and limitations.
The study's statistics on the alternative protein market include its present size, its share of the market, and its compound annual growth rates (CAGR) by segments and sub-segments at the international, regional, and national levels. The most lucrative Alternative Protein market goods, the preeminent end users, and the shifting Alternative Protein Market distribution channels are all identified in the report.
Animal-based protein replacements are alternatives to protein. Meat and other animal products have long been replaced by protein-rich vegetables like soybeans, peas, and almonds. The phrase "protein alternative" can also refer to more recent innovations that mimic conventional animal-based foods including eggs, dairy, and other types of meat. Consumers and investors are both paying more attention to protein alternatives, which include cultured meats manufactured from animal cells in culture to plant-based eggs. If alternative proteins were utilised in place of currently produced animal products, animal exploitation and the environmental effects of food production would be decreased.
The expansion of the protein alternatives market is anticipated to be driven by an increase in the consumption of clean proteins, as well as by rising consumer awareness and uptake of proteins derived from sustainably sourced sources. It is anticipated that consumer awareness of the need of clean protein in daily meals for sustaining energy and controlling weight will positively impact the market for protein substitutes. The protein substitute provides a number of health benefits, such as bettering nutritional composition and enhancing the body's immune system, which ought to increase the market for protein substitutes in food applications and advance the protein alternatives industry.
Global Protein Alternatives Market: Major Players
The Archer Daniels Midland Company
Ingredion Incorporated
Cargill Incorporated
Kerry Inc.
DuPont de Nemours Inc.
Corbion NV
Glanbia PLC
Royal Avebe UA
Global Protein Alternatives Market: By Types
Plant Protein
Mycoprotein
Algal protein
Insect Protein
Global Protein Alternatives Market: By Applications
Food and Beverage
Dietary Supplements
Animal Feed and Pet Food
Personal Care and Cosmetics
Global Protein Alternatives Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Protein Alternatives market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Research Methodology
The study was conducted using an objective combination of primary and secondary information including inputs and validations from real-time industry experts.
In-house experts utilizing sophisticated methods including data triangulation, will connect the dots and establish a clear picture of the current Alternative Protein market conditions, market size, and market shares.
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An in-depth product and revenue analysis are performed on top Alternative Protein industry players along with their business and geography segmentation.
The proprietary process culls out necessary data from internal databases developed over 15 years and updated accessing 10,000+ sources on daily basis including Alternative Protein Industry associations, organizations, publications, trade, and other statistical sources.
Receive primary inputs from subject matter experts working across the Alternative Protein value chain in various designations. We often use paid databases for any additional data requirements or validations.
We study the value chain, parent and ancillary markets, technology trends, recent developments, and influencing factors to identify demand drivers/variables in the short, medium, and long term.
Various statistical models including correlation analysis are performed with careful analyst intervention to include seasonal and other variables to analyze different scenarios of the future Alternative Protein market in different countries.
Alternative Protein Market Drivers:
Some companies invest in various companies that create options to hedge or consolidate against a declining demand for animal products.
The growing trend among millennials to adopt flexible and meat-free diets represents a change in shopping patterns that may be significant compared to previous generations.
Companies all along the food value chain are already pursuing those prospects, from manufacturers to retailers.
Market participants have received money or investments from high-profile individuals, financial investors, and groups in recent years.
Plant-based products are an ethical and sustainable alternative to animal-derived products as the well-established meat, and dairy industries continue to face criticism from civil society groups and new food initiative players.
Key Benefits for Stakeholders:
The market research is offered along with information related to key drivers, restraints, and opportunities.
The report includes the analysis of the regional as well as global protein alternatives market trends, key players, market segments, application areas, and market growth strategies.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the protein alternatives market segmentation assists to determine the prevailing market opportunities.
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the protein alternatives market analysis from 2023 to 2032 to identify the prevailing protein alternatives market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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