Dublin, April 14, 2022 (GLOBE NEWSWIRE) -- The "Protein Alternatives - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Protein Alternatives Market to Reach $4.4 Billion by 2026
The global market for Protein Alternatives estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 8% over the analysis period.
The Protein Alternatives market in the U.S. is estimated at US$1.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$322.5 Million by the year 2026 trailing a CAGR of 9.5% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.
Alternative protein or alternative meat is anticipated to be increasingly integrated into the global protein supply industry going forward as people realize the risks associated with consuming animal protein.
Already, products with alternative proteins, for example Beyond Meat and Impossible Burger, have been attracting consumers in a big way, in the recent years. Consumers wary about animal suffering and with an intention to reduce personal environmental footprint started consuming such products and with increasing demand, many more manufacturers emerged offering similar products.
Beyond Meat burger makes use of 99% less water and 93% less land and generates 90% less emissions when compared a regular beef burger, as per its life-cycle assessment, reasons enough for making the product popular among consumers intending to `save the earth`. Furthermore, it is a known fact that plant-based foods lower chronic diseases and mortality rates.
This had also created interest in such alt-meat based products among consumers. Even though currently alt-meat products are more expensive compared to options with animal protein, over the coming years, the prices are likely to reduce due to technological advancements in manufacturing methods and identification of low cost plant raw materials.
Plant Protein, one of the segments analyzed in the report, is projected to record a 9.2% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Insect Protein segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
Strong growth is projected for alternative protein products in the coming years driven by rising acceptance of products that include such ingredients, particularly in functional foods and dietary supplements categories. There is a growing awareness with regard to health and wellness among population across the world.
Rise in interest among consumers for protein based diets is encouraging companies, including both animal and plant based protein ingredient companies, to develop advanced technologies for extracting protein alternatives and also seek new and more sustainable protein sources.
The trend towards high nutrition, proteins-rich diets is driven by the growing awareness about health benefits of such foods particularly in muscle building, ensuring satiety and assisting in weight loss. The demand for proteins continues to grow among athletes, teenagers, children and the elderly. Expanding population base and rising income levels are expected to significantly impact the demand for protein alternatives in the coming years.
Increasing incidence of chronic diseases such as CVD, diabetes, various cancers, and osteoporosis, and the urgent need for adequate intake of proteins in combating these diseases represent another important growth driver.
Other factors poised to benefit market prospects in the near term include wide ranging applications of soy proteins owing to their widespread availability and favorable clinical research supporting its health and nutritional advantages; and surging popularity of pea protein alternatives with their health benefits and high nutritional value in terms of high in fiber, starch, vitamins, proteins, and minerals.
Emergence of newer sources of proteins such as insect proteins, chickpeas, cricket proteins, and algae protein, etc. and the myriad health benefits offered by them in terms of maintaining general health and well-being, weight loss and weight management, as well as muscle building and muscle maintenance is also expected to provide additional impetus to market growth.
Key Topics Covered:
MARKET TRENDS & DRIVERS
- Plant Based Proteins Score Over Animal-based Proteins
- Soy Represents an Important Plant-based Protein Alternative
- Types of Soy Protein Ingredients
- Sports Nutritional Products Incorporate More of Plant-based Protein Ingredients
- Low Saturated Fat, Low Cholesterol, and Presence of All Essential Amino Acids Drive Surging Popularity of Plant Proteins
- Sustainability and Other Benefits Drive Greater Adoption of Plant Proteins
- Better Efficiency of Plant Protein Sources Compared to Animal Protein Sources
- Energy Efficiency in Production of Various Protein Sources (in kcal)
- Soy Proteins Dominate Plant Protein Ingredients Market
- Protein Content in Various Plant-Based Food Types
- Pea Protein Gradually Gains Prominence over Soy Protein
- Wheat Proteins: Rising Demand for Nutrition-Rich Products Aids Growth
- Rice Proteins Emerge as Ideal Alternatives to Various Protein Ingredients
- Average Amount of Protein Present in Different Types of Rice
- Algae Proteins: The Next Big Thing in Vegetarian Protein Sources
- Mycoprotein Meat Substitute Market Spurred by Shift in Consumer Behavior & Consumption Patterns
- Exciting Plant-based Protein Alternatives
- Innovative Processing Techniques Drive Market Expansion
- Ingredient Providers Offer Vegan Flavors to Add Authentic Flavors to Meat Substitutes
- Innovations to Set Pace for Alternative Proteins Market
- Start-Ups Set to Deep-Dive into Alternative Proteins Market
- Infant Formula: Protein Ingredients Essential to Improve Nutritional Content
- Soy-based Infant Formula Gains Popularity
- Exotic and Artificially Grown Meats and Proteins to Meet Future Food Demand
- Increasing Global Population Drives the Demand for Protein Alternatives
- Increasing Incidence of Chronic Diseases: An Important Opportunity Indicator
- Obesity Concerns Raise Significance of Protein Ingredient's Satiety Features
- Average Per Capita Annual Health Expenditure (In US$) due to Obesity
- Increasing Affluence of the Ballooning Middle Class Population
- Global Middle Class Spending (in US$ Trillion) by Geographic Region
- Bee Conservation: Towards Eco-friendliness and Sustainability
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Proteins
- Protein Alternatives Benefit from the Focus Shed on Food, Nutrition & Immunity Amid the Pandemic
- Studies Liking Faster COVID-19 Recoveries With Higher Protein Intake Provide Added Boost to Growth
- With COVID-19 Bringing Environment Into Focus, Sustainability of Protein Alternatives Comes Into the Spotlight
- Animal Agriculture, a Big But Lesser Known Problem for the Environment
- COVID-19 Induced Fears of Animal Borne Diseases, Accelerates the Shift to Protein Alternatives
- Pandemic Provides New Opportunity to Protein Alternatives Options
- Meatless Culture Drives the Market for Protein Alternatives
- Disruptions in Traditional Meat Supply Chain Shifts Spotlight to Protein Alternatives
- Consumer Focus on Health Drives Sales of Plant-based Protein Foods
- Food & Beverage Industry Dominates Demand for Protein Alternatives
- Other Protein Alternatives Witness Steady Growth
- Developed Regions Dominate, Developing Countries to Drive Market Growth
- Market Challenges
- Market Outlook
FOCUS ON SELECT PLAYERS(Total 111 Featured)
- Agriprotein Holdings Ltd
- Aspire Food Group
- Avebe
- Cargill Incorporated
- Corbion NV
- DuPont de Nemours Inc
- Enterra Feed Corporation
- EntofoodSdn Bhd
- Proti-Farm Holding NV
- Glanbia PLC
- Ingredion Incorporated
- Kerry Group plc
- Koninklijke DSM N.V
- MGP Ingredients Inc
- MycoTechnology Inc
- Roquette Freres
- Sonic Biochem Extractions Ltd
- The Archer Daniels Midland Company
- Tianjin Norland Biotech Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ryqf3
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