The ‘Global Alternative Proteins Market Size, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global alternative proteins market, assessing based on its segments like source, ingredient, end use, distribution channel, and major regions.
Alternative Proteins Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): 14.82 MMT
• Forecast CAGR (2023-2028): 13.4%
• Forecast Market Size (2028): 31.52 MMT
The global market for alternative proteins is expected to benefit from the rising number of venture investments in alternative protein companies. The global alternative proteins market is projected to expand as a result of the growing food sector. This is due to the quick advancements in alternative protein types brought about by the food industry, which are further anticipated to improve the nutritious value and the skyrocketing demand for protein.
Alternative proteins have lower environmental impacts and ethical concerns as well as lower carbon emissions, than those produced by intensive animal farming. These are some of the benefits propelling the market expansion throughout the projection period. Significant market opportunities for the expansion of the alternative proteins market are provided by the accelerating research and development of novel products and the rising inclination toward veganism.
Alternative Proteins Industry Definition and Major Segments
Alternative proteins refer to plant-based and other proteins that are not derived from animal sources. Algae, genetically modified plant-based legumes, and a range of animal alternatives are all examples of alternative proteins. It includes foods manufactured from fungi (like mushrooms), plants (including grains, legumes, and nuts), algae, meat that has been cultured (or grown in a lab), insects, and other organisms.
On the basis of source, the market is segmented into:
• Plant Based
• Cellular Agriculture
Based on the ingredient, the market is bifurcated into:
• Bulk Ingredients
• Speciality Ingredients
On the basis of end use, the market is categorised into:
• Food and Beverages
• Animal Feed
Based on the distribution channel, the market is bifurcated into:
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
Alternative Proteins Market Trends
Geographically, in North America consumers’ concerns about the ingredients used in food products are boosting the alternative proteins market in the region. Meanwhile, the Asia Pacific region is anticipated to fuel market growth for alternative proteins due to the extensive agricultural industry in the region.
Additionally, it is simpler to source proteins from organic food ingredients in the Asia Pacific. The expansion of research and development efforts as well as the increase in start-up businesses developing various types of alternative proteins are anticipated to support the expansion of the regional market.
Due to rising demand from food and beverage makers and an increasing vegan population, the market share for the plant-based segment in the alternative proteins market is expected to increase significantly.
In the upcoming years, the market for alternative proteins is anticipated to grow due to the rising number of plant-based product releases and the substantial presence of plant protein producers. It is also anticipated that rising consumer knowledge of the negative health impacts of meat and animal products, along with rising trend of veganism in many places, will have an impact on the market development for alternative proteins.
Key Market Players
The major players in the Global Alternative Proteins Market are :
- E.I. Dupont De Nemours and Company
- Greenleaf Foods SPC
- Glanbia Plc
- Archer Daniels Midland Company
- Darling Ingredients
- Cargill Incorporated
- Kerry Group
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of the major market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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