Alternative Protein Market - Global Industry Analysis

Global Alternative Protein Market: Overview

Alternative proteins are basically derived from insects, plants, and algae. These proteins need natural inputs required to make common protein sources like meat and fish. It also contains a substantial amount of protein. Protein helps in building lean body tissue and aid in producing digestive enzymes.

Report Scope:

Global Alternative Protein Market: Growth Factors

The growing incidents of intolerance against animal protein are massively shifting the preference of meat consuming people towards meat alternative vegan proteins; thereby, it is likely to positively impact the growth of the global alternative protein market over the forecasted period. Furthermore, the surge in the number of health-conscious people all around the globe, along with the growing adoption of a healthy lifestyle, is likely to accentuate the demand for alternative proteins globally. The growing incidences of lifestyle-associated diseases are compelling people to adopt healthy food options. In addition, a large chunk of the population is facing lactose intolerance issues and thereby shifting towards plant-based food and beverage diet. There is a high demand for functional food products like functional beverages, cereals & snacks, dairy alternatives, bakery products, and others. However, all these factors are likely to significantly accentuate the growth of the global alternative protein market over the forecasted period. The surge in the environmental concerns due to the big climate change and other environmental issues like carbon emission and global warming have significantly impacted the minds of people. Therefore, many consumers are taking green initiatives to switch to sustainable food options. However, such an initiative has resulted in extensive demand for plant-based food products globally. Also, meat protein offers essential amino acids, but several issues are associated with them, like high cholesterol and other health issues, which in turn will lead to associated lifestyle disorders. Also, such awareness among people is making them instantly switch to vegan proteins. Alternative proteins are rich in essential nutrients & fiber and low in fat & calories as compared to animal sources. Manufacturers are experimenting different combinations and ingredients to bring distinct protein products in the market. However, the growing competition is significantly setting high standards in the global marketplace. All these aforementioned factors are likely to significantly bolster the growth of the global alternative protein market over the forecast period.

Global Alternative Protein Market: Segmentation

The global alternative protein market can be segmented into application, source, and region.

By application, the market can be segmented into beverages, cereals, snacks, bakery, meat analogues, and others. The meat analogue segment accounts for the largest share in the global alternative protein market due to the high risk associated with animal-borne diseases and the high prevalence of health disorders. There has been a significant spike in demand for meat analogue in recent years due to an increase in demand from large scale food joints and the foodservice sector for alternative proteins. However, the growing interest of people in animal welfare is also accelerating the demand for meat analogues globally. Also, due to the high prevalence of cancer, diabetes, and others, people are lowering the consumption of animal protein products and boosting the adoption of healthy alternatives like meat analogues.

By source, the market can be segmented into microbial-based, insect-based, and plant-based sources. The microbial-based segment can further be bifurcated into algae, yeast, bacteria and others. The plant-based source segment holds the largest share in the global alternative protein market due to the surging awareness about consequences of unhealthy eating habits.

Global Alternative Protein Market: Regional analysis

Asia Pacific accounts for the largest share in the global alternative protein market due to the growing demand for a plant-based protein-rich diet in the region. However, the fast proliferating food and beverage sector in the region, along with the growing disposable income of people is highly equipping people to take the hand on healthy fortified protein products, which in turn will significantly accelerate the demand for alternative protein in the region. Also, the fast-paced and hectic work culture in the region is responsible for several lifestyles-associated diseases, and therefore people are becoming highly conscious regarding adopting a healthy diet. As a result, there are higher sales of human nutrition supplements, including alternative proteins, in the region.

North America is likely to achieve a significant growth rate over the forecast period due to the growing number of fitness enthusiast people in the region. However, the presence of key players in the region is also likely to be a crucial factor accelerating the growth of the regional market over the forecast period.

Global Alternative Protein Market: Competitive Players

Some of the significant players in the global alternative protein market are Roquette Freres, Protix, MGP Ingredients Inc, Kerry, Ingredion, Glanbia plc, Entocycle, DuPont, Corbion Biotech, Inc., and ADM.

Global Alternative Protein Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.