Global Alternative Proteins Market - 2023-2030

Global Alternative Proteins Market - 2023-2030

Market Overview
The global alternative proteins market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 15.6% during the forecast period (2023-2030).

Alternative proteins are a type of protein derived from plants. These proteins are commonly found in vegetarian and vegan diets. Plant-based, insect-based and lab-grown meat proteins are the most common types. They mimic animal agriculture products and provide consumers with a texture, taste and appearance comparable to animal-based meat products but with a lesser environmental effect.

Alternative proteins supply a significant amount of protein using far fewer natural resources than the two popular protein sources, fish and beef. Food technology innovation is accelerating, resulting in new protein manufacturing opportunities that have the potential to threaten the incumbent business. Alternative proteins have superior nutritional characteristics than meat and have the potential to reduce reliance on finite natural resources while also decreasing emissions.

Market Dynamics
Increasing inclination toward organic proteins
Alternative proteins, which include plant-based foods, are used to attract only vegetarians and vegans. With the technological advancements in the sector, the market has emerged with tasty options for everyone, even for meat-eaters, which opens up a massive market for investment. Consumers concerned about modern meat-producing processes and the trend of eating healthier are already asking for alternative proteins.

The growing demand for organic meat alternatives has provided opportunities for various leading companies in the market to launch new products. For instance, In 2020, Kerry expanded its plant protein ingredient line. Organic, vegan and allergen-free products are available for various food and beverage applications, including infant nutrition, senior protein beverages and vegan needs.

Plant sources such as pea, rice and sunflower combinations are used in the products. For the ProDiem and Hypro lines, 13 new plant protein components have been developed.

Allergies linked to alternative proteins
Despite the potential benefits, the market growth of alternative proteins has been hampered by concerns about allergies. An allergen linked to alternative proteins is wheat. Wheat is a common ingredient in seitan, a popular meat substitute among vegans and vegetarians. However, consuming seitan can result in adverse reactions for individuals with wheat allergies or celiac disease. It has limited the appeal of seitan-based products to a small niche of consumers.

In addition to soy and wheat, alternative proteins may contain other allergens, such as nuts, seeds and legumes, which can also be a concern for individuals with allergies.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here)
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Segment Analysis
The global alternative proteins market is segmented based on type, source, form, application and region.

Growing consumers’ preferences and demands alongside major leaps forward in food technologies
Food and beverage application in the alternative proteins market is expected to hold a significant share. Alternative protein, such as plant-based meat substitutes or edible insects, provides a substantial amount of protein but requires fewer natural inputs (e.g., water) to produce compared to the most common and conventional protein sources (i.e., meat and fish). They are also called ‘novel food proteins and are composed of different sequences of amino acids responsible for building lean body tissues and human health.

The food industry is on the brink of a decade of profound change. The unparalleled growth in plant, micro-organism and animal-cell-based alternatives can drive this change as consumer tastes evolve, meat intake is reduced or cut altogether and demand for alternative food types rises.

The F&B industry is majorly driving due to the growing consumers’ preferences and demands alongside major leaps forward in food technologies like alternative proteins, aquaculture and vertical farming. These trends are reshaping food systems, driving innovation to solve global food security and creating more sustainable products and facilities.

Moreover, many companies are planning for expansion in the protein alternatives business. For instance, in April 2020, Starbucks announced the rollout of plant-based food & beverage menu across China by launching products from Oatly, Beyond Meat and Omnipork.

Geographical Analysis
North America’s rising pet food business and greater consumer awareness of pet health
The rise of the pet food business and greater consumer awareness of pet health drive the market for alternative proteins in North America. Major corporations are investing in the launch of new products for both domestic and international markets.

Protein consumption is a function of market maturity in North America. Compared to the global average, U.S. consumes nearly twice as much beef protein as the rest of the world. As a result, traditional protein consumption in U.S. is projected to remain strong, including both conventional and alternative protein products.

In addition, there was a boom in newly released vegan, dairy-free and ethical products (meaning producers do not contribute to animal cruelty). With the addition of new products, the landscape gets more competitive as new trends emerge.

While the environmental and food security aspects are appealing, public acceptability depends on equity. Alternative proteins must have the same taste and texture as the conventional proteins they are replacing and cost the same or less.

As per Blue Horizon Corporation, by 2035, higher carbon costs and support for farmers shifting from animal agriculture to alternative protein sources could increase consumption by 22%. By 2025, North America would have reached ""peak meat,"" and animal protein consumption in those markets would begin to drop.

Competitive Landscape
The major global players in the market include Koninklijke DSM N.V, Kerry Group, DuPont, Cargill, Incorporated, Ÿnsect, Ingredion Incorporated, Emsland Group, Cosucra Group and Batory Foods Chapul.
Why Purchase the Report?
• To visualize the global alternative proteins market segmentation based on type, source, form, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of alternative proteins market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global alternative proteins market report would provide approximately 69 tables, 69 figures and 203 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies