Meticulous Research®—a leading global market research company, published a research report titled, ‘Alternative Protein Market by Type (Plant protein [Soy, Wheat, Pea, Canola, Rice, Potato], Insect protein [Crickets, BSF], Microbial protein [Algae, Fungal]), Application (Food & Beverage, Animal Feed, Nutraceuticals), and Geography - Global Forecast to 2030’
According to this latest publication from
Meticulous Research®, the alternative protein market is projected to
reach $40.7 billion by 2030, at a CAGR of 13% from 2023–2030. The growth of the
alternative protein market is mainly driven by rapid urbanization and growing
consumer aspirations, increasing venture investments in the alternative protein
industry, innovations in food technologies, the high nutritional value of
edible insects, and the environmental sustainability of alternative protein
production and consumption. However, the higher costs of alternative protein
compared to conventional protein and consumers’ high preference for
animal-based products restrain the growth of this market. Furthermore,
consumers’ increasing inclination toward plant-based foods is expected to
generate growth opportunities for the players operating in the alternative
protein market.
Key Players
The key players operating in the global
alternative protein market are Archer-Daniels-Midland Company (U.S.), Cargill,
Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.),
Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF)
(U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods
Inc. (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of
Südzucker AG) (Germany), Glanbia Plc (Ireland), Sotexpro (France), Farbest-Tallman
Foods Corporation (U.S.), CHS Inc. (U.S.), Ÿnsect (SAS) (France), Enterra Feed
Corporation (Canada), Protix B.V. (Netherlands), Entomo Farms (Canada), Global
Bugs Asia Co., Ltd. (Thailand), Aspire Food Group (U.S.), EnviroFlight, LLC
(U.S.), Haocheng Mealworm Inc. (China), JR Unique Foods Ltd. (Thailand),
Armstrong Cricket Farm Georgia (U.S.), Rocky Mountain Micro Ranch (U.S.),
Cricket Lab Limited (U.K.), DIC Corporation (Japan), Cellena Inc. (U.S.),
Taiwan Chlorella Manufacturing Company (Taiwan), Cyanotech Corporation (U.S.),
Bluebiotech International GmbH (Germany), Pond Technologies Holdings Inc.
(Canada), E.I.D.-Parry (India) Limited (India), Tianjin Norland Biotech Co.,
Ltd. (China), MycoTechnology Inc. (U.S.), Enough. (U.K.), Corbion NV
(Netherlands), Sun Chlorella Corporation (Japan), Plantible Foods, Inc. (U.S.),
Parabel Nutritional, Inc. (U.S.), Far East Bio-Tec Co., Ltd. (Taiwan), Far East
Microalgae Industries, Co. Ltd. (Taiwan), Roquette Klötze Gmbh & Co. Kg
(Germany), Yaeyama Shokusan Co., Ltd. (Japan), Unibio Group (Denmark), String
Bio (India), Calysta, Inc. (U.S.), Angel Yeast Co., Ltd (China), and Lesaffre
(France).
TOP 10 COMPANIES IN ALTERNATIVE
PROTEIN MARKET https://meticulousblog.org/top-10-companies-in-alternative-protein-market/?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=07-12-2023
The alternative protein market study presents
historical market data in terms of value & volume (2021 and 2022),
estimated current data (2023), and forecasts for 2030. This market is segmented
by type, application, and geography.
Based on type, the alternative protein market
is segmented into plant protein, insect protein, and microbial protein. In
2023, the plant protein segment is expected to account for the largest share of
the alternative protein market. However, the insect protein segment is expected
to grow at the highest CAGR during the forecast period of 2023–2030. The high
growth rate of this segment is mainly driven by the growing demand for
environmentally friendly protein-rich food and the rising investments in edible
insect farming.
Based on application, the plant protein market is
segmented into food & beverage, animal feed, nutrition & health
supplements, pharmaceuticals, and other plant protein-based applications. In
2023, the food & beverage segment is expected to account for the largest
share of the global plant protein market. The large market share of this
segment is mainly attributed to increasing consumer preference for plant-based
foods and ingredients, the growing awareness and demand for protein-rich food
products, the versatile functionality and compatibility of plant-based protein
with vegetarian and vegan lifestyles, and the rise of clean-label trends.
However, the nutrition & health supplements segment is expected to record a
CAGR during the forecast period. The growth of this segment is mainly
attributed to changing lifestyles, growing health & wellness trends, and
the increasing prevalence of diseases.
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Based on region, the alternative protein market
is segmented into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa. In 2023, North America is expected to account for the
largest share of the global alternative protein market. The prominent position
of North America in the alternative protein market is attributed to the
increasing focus on producing protein using sustainable methods due to the
rising environmental concerns and ethical aspects associated with animal
protein, the increasing vegan population, the rising number of investments in
alternative protein products, the increasing demand for healthy &
nutritional products, and technological advancements in the food industry.
Key Questions Answered in the
Report:
· What is the current revenue
generated by alternative protein globally?
· At what rate is the global
alternative protein demand projected to grow for the next 5–7 years?
· What are the historical market
sizes and growth rates of the global alternative protein market?
· What are the major factors
impacting the growth of this market at the regional and country levels? What
are the major opportunities for existing players and new entrants in the
market?
· Which segments in terms of type
and application are expected to create major traction for the manufacturers in
this market?
· What are the key geographical
trends in this market? Which regions/countries are expected to offer
significant growth opportunities for the manufacturers operating in the global
alternative protein market?
· Who are the major players in the
global alternative protein market? What are their specific product offerings in
this market?
· What are the recent strategic
developments in the global alternative protein market? What are the impacts of
these strategic developments on the market?
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Related Report:
Ø Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea
Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source
Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional
Supplements) - Global Forecast to 2028 >> https://www.meticulousresearch.com/product/plant-based-protein-market-5031/?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=07-12-2023
Plant-based Milk Market by Type (Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk), Formulation (Unflavored, Flavored), Distribution Channel (B2B, B2C [Modern Groceries, Convenience Store, Specialty Store, Online Retail]) - Global Forecast to 2030 >> https://www.meticulousresearch.com/product/plant-based-milk-market-5304?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=07-12-2023
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