Global Alternative Protein Market to reach USD 35.76 Bn at a CAGR of 9.84 percent by 2030- Says Maximize Market Research
Maximize Market Research, a leading Healthcare business consultancy and research firm has published a report on the “Alternative Protein Market ”. The total market opportunity for Alternative Protein Market was USD 18.54 Bn in 2023 and is expected to grow at a CAGR of 9.84 percent through the forecast period, reaching USD 35.76 Bn by 2030. As per the report, the global Alternative Protein Market is expected to be dominated by the North American and Asia Pacific regions to grow at a significant growth rate through the forecast period.
Global Alternative Protein Market Report Scope and Research Methodology
Market Size in 2023: USD 18.54 Billion
Market Size in 2030: USD 35.76 Billion
CAGR: 9.84 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 215
No. of Tables: 138
No. of Charts and Figures: 190
Segment Covered: By Source, Form, and Application
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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Global Alternative Protein Market Scope and Research Methodology
Alternative Protein Market is the product being offered for sale. By carefully analyzing the competitive environment and market structure, market analysis is a bottom-up technique used to determine the size and growth of an industry. Notable findings encompass elements that drive regional and global market growth, roadblocks to more expansion, and opportunities presented by technical innovations. Regional studies are conducted to get insight on market leaders, penetration, and demographic influences on the industry. A deeper comprehension of the market may prove advantageous for manufacturers, target audiences, and the development of tailored advertising campaigns, contingent on the segmentation of products and age groups. A competitive matrix has been created in order to evaluate the competitiveness in the Alternative Protein Market, which is made up of both long-standing businesses and more recent arrivals. The report includes an analysis of each company’s financial situation, recent alterations, technological breakthroughs, mergers, partnerships, collaborations, and marketing tactics.
Alternative Protein Market Overview
Alternative proteins, derived from insects, plants, and microbes, are increasingly being used to replace conventional animal-based proteins. These non-meat proteins are used in dairy-free foods and meat-free diets, such as meat analogs and animal feed products. Consumers are increasingly interested in health, ethical considerations, and minimal protein calories for daily health. The rise in clean protein consumption and awareness of sustainably sourced proteins is expected to fuel product demand. Clean protein offers health benefits like increased body nutritional constitution and strengthened immune system, which could boost the global market for food applications, promoting market growth.
Alternative Protein Market Dynamics
The growing awareness of the health benefits of plant-based diets presents a significant opportunity for alternative proteins to be positioned as a vital part of a nutritious lifestyle. As people seek alternatives to traditional meat products, there is a vast market for innovative plant-based protein offerings that cater to diverse taste preferences. Plant proteins also have a reduced environmental impact compared to animal-based alternatives, making them a strategic choice for environmentally conscious consumers. Collaborative efforts within the industry to enhance sustainable practices are reach a broader customer base. Investment in research and development are lead to plant-based alternatives mimicking traditional meat taste and texture, offering novel flavor profiles.
Alternative Protein Market Regional Insights
In 2023, the North American region dominated the global alternative protein market, with over 50% of the market being dominated by the United States. Soy protein gained popularity in this region because of veganism. The European region is expected to contribute to the growth of the insect protein market and pea protein segment, with EU countries like France being major producers. The pea protein segment is expected to dominate in 2030.
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Alternative Protein Market Segmentation
by Source
- Plant Protein
- Mycoprotein
- Algal Protein
- Insect Protein
Based on Source, The alternative proteins market is categorized into plant and insect proteins. Plant-based proteins are the most common, with soy being the most popular source. Although soy-based meat and dairy products are becoming more common, it is still used for animal feed. Other alternative protein sources include wheat, peas, chickpeas, rice, legumes, and nuts. DataM Intelligence’s report reveals that the plant protein segment dominates the global alternative protein market because of increasing demand from food and beverage manufacturers, availability of raw materials, and lower costs. Insect proteins are also growing in popularity as a nutritious, environmentally friendly, and sustainable source for human food and animal feed. They are expected to grow at the highest CAGR in the upcoming years.
by Form
- Dry Form
- Wet Form
by Application
- Food
- Beverage
- Dietary Supplement
- Feed Industry
Alternative Protein Market Key Competitors include:
North America
- Beyond Meat
- Impossible Foods
- Aspire Food Group
- MycoTechnology Inc.
- Maple Leaf Foods
- Eat Just
- Conagra Brands
- Wicked Kitchen
- UPSIDE Foods
- Plantible
- Livekindly
- Fazenda Futuro
Europe
- Sunfed
- Tomorrow Foods
- Planteneers
- THIS
- Sgaia’s Vegan Meats
APAC
- Ento (Food Products)
- Monde Nissin
- Morinaga Nutritional Foods
- Vitasoy International Holdings
- Hakubaku Co., Ltd.
- Shandi
- Life Health Foods
- inc
MEA
- Aleph Farms
- Yofix
South America
- Superbom
- Naturattiva
Key questions answered in the Alternative Protein Market are:
- What is the current growth rate of the Alternative Protein Market ?
- Who are the key players in the Alternative Protein Market ?
- What are the growth prospects in developing countries for the Alternative Protein Market ?
- Which segment is expected to witness the fastest growth and why in the Alternative Protein Market ?
- What are the factors affecting growth in the Alternative Protein Market ?
- Who held the largest market share in the Alternative Protein Market ?
- What are the opportunities for the Alternative Protein Market ?
- What are the strategies used by competitors in the Alternative Protein Market ?
- What are Global Alternative Protein Market Devices?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segments | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Source, Form, Application, and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
Starch Derivatives Market–The market size is expected to reach USD 103.57 Bn by 2030 at a CAGR of 5.5 percent during the forecast period. the versatility and cost-effectiveness of starch derivatives compared to synthetic alternatives further bolster market growth.
Citrus Fiber Market–The market size is expected to reach USD 72.6 Bn by 2030 at a CAGR of 5.9 percent during the forecast period. Citrus fiber consists of insoluble or soluble fibrous ingredients of citrus fruits such as orange, lemon, and limes. Citrus fiber is used in several applications in various industries. In food products, citrus pulp fiber is used as an ingredient to improve water retention properties.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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