US Alternative Protein Market Size study, by Product (Plant Protein, Microbe-based Protein, Insect Protein), by Application (Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others) Forecasts 2022-2032

US Alternative Protein Market Size study, by Product (Plant Protein, Microbe-based Protein, Insect Protein), by Application (Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others) Forecasts 2022-2032

US Alternative Protein Market is valued at approximately USD XX million in 2023 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2024-2032. Alternative proteins encompass protein sources that diverge from traditional animal agriculture. These encompass plant-based proteins like cereals, rice, oats, legumes, roots, and wheat, alongside insect proteins like coleoptera, lepidoptera, hymnoptera, orthoptera, hemiptera, diptera, and more, as well as microbial proteins derived from bacteria, algae, fungi, or yeast. This shift arises as individuals increasingly recognize the environmental repercussions of animal agriculture, including its contribution to greenhouse gas emissions, deforestation, and water pollution. Alternative proteins emerge as a viable solution to alleviate these impacts. The growing preference for plant-based options within the food and beverage sector underscores a movement toward plant-centric diets, propelled by innovative products that are broadening the market. Consumer tastes are gravitating toward plant-based and alternative protein sources, influenced by factors such as health consciousness, environmental awareness, animal welfare considerations, and a desire for sustainable dietary choices. As a result, there is a surge in demand for alternative protein products. The rise in emphasis on advancing in food technology is a key trend for the US Alternative Protein Market during the estimated period of 2024-2032. Advancements in food technology and innovation have led to the creation of plant-based meat substitutes, cultured meats, and other alternative protein products that closely mimic the taste, texture, and nutritional profile of traditional animal-based proteins.

Also, the rise is attributed to the widespread availability of vegan protein products in retail, and heightened consumer understanding of the health advantages, particularly in terms of weight management initiatives. Thus, this creates lucrative prospects in the protein alternatives sector, numerous companies are strategically expanding their operations, especially within the plant protein segment. For instance, in December 2022, Bunge unveiled plans for a USD 550 million investment in the construction of a fully integrated facility for Soy Protein Concentrate (SPC) and Textured Soy Protein Concentrate (TSPC). This facility is strategically located adjacent to and seamlessly integrated with Bunge's soybean processing plant in Indiana, U.S. Construction is slated to begin in the first quarter of 2023, targeting a commissioning date around mid-2025. This venture is expected to generate around 70 full-time job opportunities and aims to process an additional 4.5 million bushels of soybeans. The primary objective behind this initiative is to meet the escalating demand for essential ingredients in plant-based foods, processed meat, pet food, and feed products. However, high cost of alternative proteins and allergic reactions linked to various alternatives like plant-based and insect-based proteins are anticipated to impede market expansion from 2022 to 2032.


Major market player included in this report are:
Cargill Inc.
Lightlife Foods, Inc.
Impossible Foods Inc.
International Flavors & Fragrances, Inc.
Ingredion Inc.
Company 6
Company 7
Company 8
Company 9
Company 10



The detailed segments and sub-segment of the market are explained below:

By Product
Plant Protein
Microbe-based Protein
Insect Protein

By Application
Food & Beverages
Infant Formulations
Clinical Nutrition
Animal Feed
Others


Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.


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