Alternative Protein Market to be Worth $40.7 Billion by 2030

 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.

Request Sample PDF @ https://www.meticulousresearch.com/request-sample-report/cp_id=4985?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=07-12-2023

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?

 

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=4985?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=07-12-2023

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

Plant Based Protein: Best Protein Sources for Vegans and Vegetarians

 

According to a new market research report titled “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”, published by Meticulous Research®, the plant-based protein market is expected to grow at a CAGR of 9.7% from 2021 to 2028 to reach $23.4 billion by 2028.

Consumer interest in boosting protein intake increases with more attention paid to the specific types of protein consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and food service operators intensifies, fueling the global plant-based protein market's growth. 

The overall plant-based protein market study is segmented based on type, crop type, source process, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=28-11-2023

Key findings in the plant-based protein market study

Based on type, the plant-based protein market is segmented into soy protein, wheat protein, pea protein, canola protein, potato protein, rice protein, corn protein, and other plant-based proteins. In 2021, the soy protein segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to higher consumer acceptance level, presence of many manufactures and their high scale of production, low cost than other types of plant proteins, easy availability of raw materials, and a large number of applications in various industries. However, the pea protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on crop type, the plant-based protein market is segmented into genetically and non-genetically modified organism crops. The genetically modified organism crops segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The leading position of this segment is mainly attributed to the common use of GMO crops, such as soybean and corn, for plant-based protein production due to their huge productivity and cost-effectiveness. However, non-genetically modified organism crops are expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the recent trend of preference for food products with non-GMO labels, rising demand for eco-friendly, natural, and organic food products, and stringent regulations for GM crops in Europe and Asia-Pacific.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=28-11-2023

Based on source process, the plant-based protein market is segmented into organic and conventional plant-based protein ingredients. In 2021, the conventional plant-based protein ingredients segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to the high availability of crops grown through the traditional harvesting method (with the use of chemical fertilizers), easy accessibility to cost-effective conventional plant-based protein ingredients, their longer shelf life, and availability of substantial crop varieties. However, the organic plant-based protein ingredients segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for preservative and additive-free products.

Based on form, the plant-based protein market is segmented into solid and liquid. The solid segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to the growing demand for power plant-based protein coupled with their rising preference considering ease of handling and transport, comparatively lower costs, low chance of formulation mistakes, and their capacity to maintain ingredient stability.

Quick Buy – Plant-based Protein Market Research Report: https://www.meticulousresearch.com/Checkout/94982561?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=28-11-2023

Based on application, the plant-based protein market is segmented into food and beverages, animal feed, nutrition & health supplements, pharmaceuticals, and others. In 2021, the food and beverages segment is estimated to account for the largest share of the overall plant-based protein market. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplement segment is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to changing lifestyles, growing health & wellness trends, and the increasing prevalence of diseases.

Geographically, North America is projected to account for the largest share of the global plant-based protein market in 2021. North America’s prominent position in the plant-based protein market is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.) among others.

TOP 10 COMPANIES IN PLANT BASED PROTEIN MARKET https://meticulousblog.org/top-10-companies-in-plant-based-protein-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=28-11-2023

Plant Based Protein Market Worth $23.4 Billion By 2028

 

According to a new market research report titled “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”, published by Meticulous Research®, the plant-based protein market is expected to grow at a CAGR of 9.7% from 2021 to 2028 to reach $23.4 billion by 2028.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=17-08-2023

Consumer interest in boosting protein intake increases with more attention paid to the specific types of protein consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and food service operators intensifies, fueling the global plant-based protein market's growth. 

The overall plant-based protein market study is segmented based on type, crop type, source process, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Increasing demand for plant-based food during the COVID-19 pandemic to drive market growth.

COVID-19 provided a substantial increase in sales of plant-based products, which proved beneficial for all stakeholders in the plant-based proteins market. Few to be listed are:

• As of May 2020, Green Monday’s (China) online sales have doubled, citing the impact of the coronavirus.  Among the most popular purchases was a pork substitute called Omnipork.
• In April 2020, JUST, a U.S.-based company that makes egg products from mung beans, announced that its sales on Chinese e-commerce platforms JD.com and Tmall of JUST Egg had surged 30% since the outbreak.
• As of May 2020, U.S.-based California Farms grocery sales increased by 50% compared to 2019. An upsurge in sales was mainly attributed to increased oat milk sales and nutritional plant-based butter.
• In April 2020, in the U.S., retail sales of fresh plant-based meats grew 279.8%. Also, oat milk sales grew 476.7% in the week ending March 2020, while dairy milk sales grew 32.4%. Additionally, according to IRI data, retail sales of meat grew 77% in the week of March 2020.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=17-08-2023

Key findings in the plant-based protein market study

Based on type, the plant-based protein market is segmented into soy protein, wheat protein, pea protein, canola protein, potato protein, rice protein, corn protein, and other plant-based proteins. In 2021, the soy protein segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to higher consumer acceptance level, presence of a large number of manufactures and their high scale of production, low cost than other types of plant proteins, easy availability of raw materials, and a large number of applications in various industries. However, the pea protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on crop type, the plant-based protein market is segmented into genetically and non-genetically modified organism crops. The genetically modified organism crops segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The leading position of this segment is mainly attributed to the common use of GMO crops, such as soybean and corn, for plant-based protein production due to their huge productivity and cost-effectiveness. However, non-genetically modified organism crops are expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the recent trend of preference for food products with non-GMO labels, rising demand for eco-friendly, natural, and organic food products, and stringent regulations for GM crops in Europe and Asia-Pacific.

Based on source process, the plant-based protein market is segmented into organic and conventional plant-based protein ingredients. In 2021, the conventional plant-based protein ingredients segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to the high availability of crops grown through the traditional harvesting method (with the use of chemical fertilizers), easy accessibility to cost-effective conventional plant-based protein ingredients, their longer shelf life, and availability of substantial crop varieties. However, the organic plant-based protein ingredients segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for preservative and additive-free products.

Based on form, the plant-based protein market is segmented into solid and liquid. The solid segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to the growing demand for power plant-based protein coupled with their rising preference considering ease of handling and transport, comparatively lower costs, low chance of formulation mistakes, and their capacity to maintain ingredient stability.

Quick Buy – Plant-based Protein Market Research Report: https://www.meticulousresearch.com/Checkout/94982561?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=17-08-2023

Based on application, the plant-based protein market is segmented into food and beverages, animal feed, nutrition & health supplements, pharmaceuticals, and others. In 2021, the food and beverages segment is estimated to account for the largest share of the overall plant-based protein market. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplement segment is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to changing lifestyles, growing health & wellness trends, and the increasing prevalence of diseases.

Geographically, North America is projected to account for the largest share of the global plant-based protein market in 2021. North America’s prominent position in the plant-based protein market is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.) among others.

TOP 10 COMPANIES IN PLANT BASED PROTEIN MARKET

Scope of the report

Plant-based Protein Market, by Type                            

• Soy Protein
• Soy Protein Concentrates
• Soy Protein Isolates
• Textured Soy Protein
• Soy Flour, Grits, and Chunks
• Wheat Protein
• Vital Wheat Gluten
• Wheat Protein Isolates
• Hydrolysed Wheat Protein
• Textured Wheat Protein
• Pea Protein
• Pea Protein Isolate
• Pea Protein Concentrate
• Others
• Canola Protein
• Potato Protein
• Rice Protein
• Corn Protein
• Others

Plant-based Protein Market, by Crop Type                   

• Genetically Modified Organism Crops
• Non- genetically Modified Organism Crops

Plant-based Protein Market, by Source Process                         

• Conventional Plant-Based Protein Ingredients
• Organic Plant-Based Protein Ingredients

Plant-based Protein Market, by Form

• Solid (Dry)
• Liquid

 

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-based-protein-market-5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=17-08-2023

 

Plant-based Protein Market, by Application

• Food and Beverages
• Meat, Poultry, & Seafood
• Bakery
• Meat Analogue
• Dairy & Dairy Alternatives
• Cereals & Snacks
• Beverages
• Others
• Animal Feed
• Nutrition & Health Supplements
• Pharmaceuticals
• Others

Plant-based Protein Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific (RoAPAC)
• Rest of World
• Latin America
• Middle East and Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5031?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=17-08-2023