Protein Alternatives Market By Source (Plant Protein, Mycoprotein, Algae Protein, Insect Protein), By Application (Food and Beverages, Dietary replacers, Animal Feed, Others), By Distribution Channel (Hypermarket and Supermarket, Chemist or Drugstore, Specialty Store, Online Store): Global Opportunity Analysis and Industry Forecast, 2021-2031
The protein alternatives market size was $16,560 million in 2021, and is expected to reach $73,871.2 million by 2031, registering a CAGR of 16.2% from 2022 to 2031. Proteins derived from plants, insects, and microbes are frequently used in place of traditional animal-based proteins. Alternative proteins are non-meat proteins that can be found in a variety of organisms, including fungus, insects, and plants. Alternative proteins, such as meat analogues and various animal feed products, are used in meat-free diets in addition to dairy-free foods.
The protein alternatives market is expected to witness increased growth owing to surge in demand for animal nutrition.. Protein alternatives are essential to the livestock business since these are fed to a variety of species, including cattle, fish, poultry, swine, pets, and horses. There has been a significant rise in demand for alternative protein sources for animal feed as a result of greater emphasis on lowering the overall cost of feed, which is predicted to drive the alternative protein market share. Alternative protein is a significant source for animal feed applications because of the rich mix of vitamins and amino acids present in plant-based proteins.
The North America protein alternatives market held a major share in 2021, and is projected to grow during the forecast period, owing to rise in vegan population, increase in number of investments in alternative protein products, surge in demand for healthy and nutritional products, and advancements in technology in the food industry, all of which contribute toward the growing emphasis on producing protein using sustainable methods
However, stringent regulatory compliances along with the inability to digest protein hamper the growth of the protein alternatives market. There is a lack of regulatory clarity for applications which involve edible insects in the food industry. In turn, this restricts the production of proteins derived from insects. Allergies to many alternative proteins, such as those made from plants and insects, also hamper the business. In addition, the expansion of the market is being restricted by the tight adherence to feeding regulations of the cattle industry. Although there are different types of alternative proteins available, not all of them are suitable for consumption by humans or the cattle industry. As a result, substantial financial resources are invested in the hunt for protein alternatives for different animal species.
The protein alternatives market is segmented on the basis of source, application, distribution channel, and region. On the basis of source, the market is classified into plant protein, mycoprotein, algal protein, and insect protein. On the basis of application, the market is divided into food & beverage, dietary replacers, animal feed, and others. On the basis of distribution channel, the market is categorized into hypermarkets and supermarkets, chemist or drugstore, specialty store, and online store. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the protein alternatives market industry include Armstrong Cricket Georgia, Aspire Food Group, Axiom Foods Inc, Burcon NutraScience Corporation, Entomo Farms, Glanbia PLC, , Protix B.V, Archer Daniels Midland Company. Bluebiotech International GmbH, Calysta, Inc., Cargill, Incorporated, Cellena Inc., JR Unique Foods Ltd., Kerry Group Plc, Plantible Foods, Inc., Roquette Frères, String Bio, MycoTechnology, Inc, Farbest Brands.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the protein alternatives market analysis from 2021 to 2031 to identify the prevailing protein alternatives market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
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.
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.
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.
Key Market Segments
By Source
Plant Protein
Soy Protein
Wheat Protein
Pea Protein
Others
Mycoprotein
Algae Protein
Insect Protein
By Application
Food and Beverages
Dietary replacers
Animal Feed
Others
By Distribution Channel
Hypermarket and Supermarket
Chemist or Drugstore
Specialty Store
Online Store
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Armstrong Cricket Georgia
Aspire Food Group
Axiom Foods Inc
Burcon Nutrascience Corporation
Entomo Farms
Glanbia PLC
Protix B.V
Archer Daniels Midland Company
Bluebiotech International GmbH
Calysta, Inc.
Cargill, Incorporated
Cellena Inc.
JR Unique Foods Ltd.
Plantible Foods, Inc.
Roquette Freres
String Bio
Enterra Corporation
Kerry Group Plc
MycoTechnology, Inc
Farbest Brands
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