Global Protein Alternatives Market Overview
Globally, consumer interest in non-meat-based protein alternatives is growing. In countries with economic wealth, there is rising consumer awareness regarding protein options. In developed markets, meat has been the foremost source of protein for years, and there has been an improved appetite for traditional protein in emerging markets in the past few years. Nevertheless, changing consumer behaviour and interest in alternative-protein sources, owing to health and environmental concerns as well as animal welfare has created a way for growth in the alternative-proteins market. The global protein alternatives market accounted for US$ 11.5 billion in 2019 and is estimated to be US$ 25.1 billion by 2029 and is anticipated to register a CAGR of 8.2%.
Impact of COVID-19 on the market
The demand for nutraceuticals & functional foods is projected to register an upward growth due to the consumers opting for immunity boosting supplements during the COVID-19 crisis. Moreover, a decline in the consumption of poultry, seafood, and meat products around the world is projected to surge the demand for plant and animal-based protein supplements in the coming years. This report will quantify the impact of this pandemic on the protein alternatives market.
Global Protein Alternatives Market Dynamics
Swelling demand for vegan-protein
The protein alternatives market is witnessing a shift in consumer demand from animal protein to plant protein. This inclination toward a plant-based diet is related to several factors, such as health awareness, ethical or religious views, sustainability issues, and environmental and animal rights. As per the data published by the United States Center for Disease Control and Prevention, 12.2 million people are suffering from a food allergy, of which two-thirds is related with egg allergy. Likewise, as per the reference list of allergen data collection, the allergen from chicken meat ranges from 0.5-5% in Southern Europe. Consumers across the globe are favouring toward plant-based protein diets. About 17% of Australians and 33% of Canadians about have turned into flexitarians.
Increasing venture investments in alternative protein companies
Prominent companies across the globe are evading against or preparing for the decline of demand for animal products by investing in other companies that are working in alternative protein space. Increasing venture capital investments, which are boosting the growth of plant-based product companies and growing focus of foremost meat producers to build up a portfolio of investments in plant, insect, and lab-grown meat protein space fuels the growth of the global alternative protein market.
Global Protein Alternatives Market Segmentation
The global protein alternatives market is segmented based on the source, application, and region.
On the basis of the source, the global protein alternatives market is segmented into plant protein (soy protein, wheat protein, pea protein, and other plant proteins), mycoprotein, algal protein, and insect protein. Based on the application, the target market is classified into food and beverage, dietary supplements, animal feed & pet food, and personal care & cosmetics.
In the region, the global protein alternatives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region is projected to lead the global alternative proteins market over the forecast period due to growing concern over animal products and protein, growing vegan population, and improved investment in protein alternative products. Availability of a large number of key players with the strong capability of technology and R&D also supplements the alternative protein market in this region. Nevertheless, the Asia-Pacific alternative protein market is expanding and developing at a substantial pace. This region is representing signs of strong growth among other regional markets in the upcoming years. China is projected to lead the Asia-Pacific market over the forecast period, mostly due to increasing food demand, growing government investment in the food R&D sector, a collaboration between international and domestic food companies, presence of a large number of players, and adoption of emerging technologies for product innovation.
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Attribute |
Details |
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The base year for estimation |
2020 |
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Forecast period |
2020 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
By Source - Plant Protein (Soy Protein, Wheat Protein, Pea Protein, and Other Plant Proteins), Mycoprotein, Algal protein, and Insect Protein By Application – Food and Beverage, Dietary Supplements, Animal Feed & Pet Food, and Personal Care & Cosmetics |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2029. For the purpose of this study, has segmented the global protein alternatives market report based on source, application, and region.
Global Protein Alternatives Market, By Source:
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Other Plant Proteins
- Mycoprotein
- Algal protein
- Insect Protein
Global Protein Alternatives Market, By Application:
- Food and Beverage
- Dietary Supplements
- Animal Feed & Pet Food
- Personal Care & Cosmetics
Global Protein Alternatives Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Protein Alternatives Market Key Players
The key players operating in the global protein alternatives market include The Archer Daniels Midland Company, Cargill Incorporated, Glanbia PLC, Ingredion Incorporated, DuPont de Nemours Inc., Corbion NV, Kerry Inc., and Proti-Farm Holding NV, Entomo Farms, and Royal Avebe UA. Various strategies such as new product launches, acquisitions, and joint ventures are adopted by the companies to enter the protein alternatives market. For instance, in April 2019, Nestle introduced plant-based burger in the Europe under the Garden Gourmet brand and in the U.S. under the Sweet Earth brand.
Global Protein Alternatives Market Key Issues Addressed
Key Issues Addressed
Global Protein Alternatives Market Company Profile
- The Archer Daniels Midland Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Cargill Incorporated
- Glanbia PLC
- Ingredion Incorporated
- DuPont de Nemours Inc.
- Corbion NV
- Kerry Inc.
- Proti-Farm Holding NV
- Entomo Farms
- Royal Avebe UA
“*” marked represents similar segmentation in other categories in the respective section
Global Protein Alternatives Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Protein Alternatives Strategies
- Key Questions this Study will Answer
- Market Snippet, By Source
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Protein Alternatives Market, By Source, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Plant Protein
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Soy Protein
- Wheat Protein
- Pea Protein
- Other Plant Proteins
- Mycoprotein
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Algal protein
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Insect Protein
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Protein Alternatives Market, By Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Food and Beverage
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Dietary Supplements
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Animal Feed & Pet Food
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Personal Care & Cosmetics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Protein Alternatives Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Source, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- The Archer Daniels Midland Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Cargill Incorporated
- Glanbia PLC
- Ingredion Incorporated
- DuPont de Nemours Inc.
- Corbion NV
- Kerry Inc.
- Proti-Farm Holding NV
- Entomo Farms
- Royal Avebe UA
- The Archer Daniels Midland Company
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Protein Alternatives Market is segmented into Source, Application, and Region
Various factors, including the growing demand for plant-based and alternative protein sources, health and environmental concerns, changing consumer preferences, and innovations in protein alternative products, are driving the growth of the Protein Alternatives Market.
The Protein Alternatives Market faces challenges such as taste and texture issues in some alternative protein products, limited awareness among consumers, competition from traditional protein sources, and regulatory complexities, which act as restraints on its global expansion.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is estimated to witness a significantly high revenue share over the forecast period.
The key players operating in the target market include Cargill Incorporated, Glanbia PLC, Ingredion Incorporated, DuPont de Nemours Inc., Corbion NV, Kerry Inc., Proti-Farm Holding NV, Entomo Farms, Royal Avebe UA, and The Archer Daniels Midland Company.