The global Alternative Protein Market accrued earnings worth approximately 53.1 (USD Billion) in 2021 and is predicted to gain revenue of about 160.3 (USD Billion) by 2028, is set to record a CAGR of nearly 17.6% over the period from 2022 to 2028.
The global Alternative Protein Market accrued earnings worth approximately 53.1 (USD Billion) in 2021 and is predicted to gain revenue of about 160.3 (USD Billion) by 2028, is set to record a CAGR of nearly 17.6% over the period from 2022 to 2028. The report offers assessment and analysis of the Alternative Protein Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).
Alternative Protein Market: Outlook
There is huge awareness about benefits derived due to intake of alternative proteins among population of countries possessing huge economic wealth. For the record, meat has been the key source of protein in developed countries for many years. However, rapidly altering consumer behavior and keen inclination towards alternative protein consumption due to health concerns & environmental issues has prompted huge demand for alternative proteins. Reportedly, sales of plant-based food – a highest source of alternative protein- rose to nearly 18% in 2018 and will continue to surge even in near future. Apparently, escalating interest of consumers in non-meat protein-based food products and rise in use of alternative protein as ingredient in diet of consumers will drive alternative protein market growth.
Alternative Protein Market: Growth Drivers
Growing customer interest in good health and ethical considerations such as animal welfare has created huge demand for alternative proteins, thereby driving market trends. Direct intake of vegetable proteins in diet has been increasing in recent years due to diseases occurring in animals. Apart from this, shortage of animal protein, fluctuations in purchasing capacity of individuals, and ethical concerns has compelled consumers to opt for plant-based diet. This has resulted into huge demand for alternative proteins. With large-scale surge in legume consumption & intake of oilseed proteins in routine diet of individuals owing to high-protein contents of former, the market for alternative protein is anticipated to gain traction.
As per NIH researchers, legumes and oilseeds offer balanced amino acids when consumed with cereals. Reportedly, Soybean proteins, cottonseed proteins, wheat gluten, peas, and other plant-based protein foods are utilized for texturization and can be consumed as meat analog. Nonetheless, these texturized vegetable proteins are cost-effective, functional, and rich source of proteins. All these aforementioned factors will steer growth in size of alternative protein market.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Alternative Protein Market: Regional Insights
Asia Pacific Alternative Protein Market To Witness Significant Growth Over 2022-2028
Expansion of alternative protein market in Asia Pacific zone over assessment period is subject to massive intake of plant-based diet in Asian countries such as India and Japan. Rise in preference for healthy diet rich in proteins has driven demand for plant-based diet in region, thereby steering regional market trends. In addition to this, a prominent surge in sale of human nutrition supplements including alternative protein will boost growth of alternative protein industry in Asia Pacific zone.
Alternative Protein Market: Competitive Insights
Key players influencing growth of alternative protein market and profiled in study are Kerry Group plc, Corbion Biotech, Inc., Roquette Freres, Ingredion Incorporated, Protix, Entocycle, MGP Ingredients, Inc., Glanbia plc, DuPont, and ADM Company.
The global Alternative Protein Market is segmented as follows:
By Application
By Source
By Region
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Growing customer interest in good health and ethical considerations such as animal welfare has created huge demand for alternative proteins, thereby driving alternative protein market trends.
According to Zion market research report, The global Alternative Protein Market accrued earnings worth approximately 53.1 (USD Billion) in 2021 and is predicted to gain revenue of about 160.3 (USD Billion) by 2028, is set to record a CAGR of nearly 17.6% over the period from 2022 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to massive intake of plant-based diet in Asian countries such as India and Japan.
The key market participants include Kerry Group plc, Corbion Biotech, Inc., Roquette Freres, Ingredion Incorporated, Protix, Entocycle, MGP Ingredients, Inc., Glanbia plc, DuPont, and ADM Company.
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