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 Forecast period from 2022 to 2028.
Alternative Protein Market
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 an 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).
There is huge awareness about benefits derived due to the intake of alternative proteins among the 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 toward alternative protein consumption due to health concerns & environmental issues has prompted huge demand for alternative proteins. Reportedly, sales of plant-based food – the highest source of alternative protein- rose to nearly 18% in 2018 and will continue to surge even in near future. Apparently, the escalating interest of consumers in non-meat protein-based food products and the rise in the use of alternative protein as an ingredient in the diet of consumers will drive alternative protein market growth.
Growing customer interest in good health and ethical considerations such as animal welfare has created a huge demand for alternative proteins, thereby driving market trends. Direct intake of vegetable proteins in the diet has been increasing in recent years due to diseases occurring in animals. Apart from this, the shortage of animal protein, fluctuations in the purchasing capacity of individuals, and ethical concerns have compelled consumers to opt for a plant-based diet. This has resulted into huge demand for alternative proteins. With the large-scale surge in legume consumption & intake of oilseed proteins in the routine diet of individuals owing to high-protein contents of the 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 analogs. Nonetheless, these texturized vegetable proteins are cost-effective, functional, and rich sources of proteins. All these aforementioned factors will steer growth in size of the alternative protein market.
|Historic Years||2018 - 2022|
|Forecast Years||2023 - 2030|
|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 2023 to 2030|
|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.|
Asia Pacific Alternative Protein Market To Witness Significant Growth Over 2022-2028
Expansion of the alternative protein market in the Asia Pacific zone over the assessment period is subject to a massive intake of a plant-based diet in Asian countries such as India and Japan. The rise in preference for a healthy diet rich in proteins has driven demand for a plant-based diet in the 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 the Asia Pacific zone.
Key players influencing the growth of the alternative protein market and profiled in the study are Kerry Group plc, Corbion Biotech, Inc., Roquette Freres, Ingredion Incorporated, Protix, Motorcycle, MGP Ingredients, Inc., Glanbia plc, DuPont, and ADM Company.
The global Alternative Protein Market is segmented as follows:
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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