Alternative Protein Market | $126.84 Mn by 2028 | Growth Forecast at 16.90% CAGR During 2022 to 2028 COVID19 Impact and Global Analysis by Vantage Market Research

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WASHINGTON, March 16, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Alternative Protein Market Size, Share & Trends Analysis Report by Source (Plant-based, Insect-based, Microbial-based), by Application (Meat analogs, Dairy alternatives, Cereals & snacks, Beverages), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Alternative Protein Market is expected to grow from USD 49.70 Million in 2021 to USD 126.84 Million by 2028 at a CAGR of 16.90% during the forecast period.

Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Alternative Protein market is predicted to grow at a CAGR of roughly 16.90% during the forecast period.
  • The Alternative Protein market was estimated to be worth roughly USD 49.70 Million in 2021 and is expected to reach USD 126.84 Million by 2028; based on primary research.
  • On the basis of region, North America is projected to dominate the worldwide Alternative Protein market.

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The increasing health consciousness among people globally associated with increasing adoption of healthy and active lifestyle owing to increasing risk of lifestyle diseases is increasing the demand for healthy food options and substantially increasing the growth of the Alternative Protein Market industry for various food applications during the forecast period. Moreover, growth in population with increasing adoption of plant-based food and beverages among health-conscious consumers provides a huge demand for the growth of the Alternative Protein Market in the upcoming years. Growth in the demand for functional food products, like dairy, bakery alternatives, functional beverages, and cereals & snacks will further drive the demand for Alternative Protein Market as they are frequently used in manufacturing functional food products in order to enhance the protein content n food. Furthermore, the increasing urbanization, growth in venture investments in Alternative Protein Market companies, innovations in food technology, and environmental sustainability with consumption and production of Alternative Protein Market are the major factors driving the growth of the Alternative Protein Market in the years to come. The increasing affection of consumers towards the vegan diet and new product launches are the other major factors boosting the growth of Alternative Protein Market in the upcoming years.

List of Prominent Players in the Alternative Protein Market

  • Archer Daniels Midland Company (U.S.)
  • Cargill, Incorporated (U.S.)
  • Roquette Freres (France)
  • Ingredion Incorporated (U.S.)
  • Kerry Group (Ireland)
  • E.I. Dupont De Nemours and Company (U.S.)
  • Now Foods (U.S.)
  • Tate & Lyle Plc (U.K.)
  • Axiom Foods Inc. (U.S.)
  • Burcon Nutra Science Corporation (Canada)
  • Beneo GmbH (Germany)
  • Glanbia Plc (Ireland)
  • Sotexpro (France)
  • CHS Inc (U.S.)
  • Agri Protein (South Africa)
  • Ynsect (France)
  • Enterra Feed Corporation (Canada)

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Market Dynamics:

Drivers:

The rising demand for healthy products with high protein content and innovations in food technology are major factors driving the growth of the Alternative Protein Market during the forecast period. Growing urbanization with new consumer desires, and high nutritional value of edible insects, and growing venture investments in Alternative Protein Market companies are boosting the growth of the Alternative Protein Market in the upcoming years. Rising adoption of edible insects in food applications in order to support the insect-based protein market growth which is expected to drive Alternative Protein Market growth during the forecast period.

Challenges:

Allergies associated with different Alternative Protein Markets such as insect and plant-based protein are the major challenge for the growth of the Alternative Protein Market during the forecast period. Edible insects contain lack of regulatory clarity in the applications of the food industry restricting insect-based protein growth. Moreover, on the other hand, the high cost of Alternative Protein Markets and significant performance for animal-based products hinder the Alternative Protein Market growth to some extent during the forecast period.

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Regional Trends:

The North American region holds the largest share of the Alternative Protein Market in 2021. The United States dominates the North America Alternative Protein Market in 2021, owing to the strong dominance of animal protein among the United States population. Moreover, plant protein such as lentils, beans, soy, has been gaining more traction among other proteins from the past few years. This is due to an increase in customer demand awareness about the health benefits and high sensitivity of vegan protein-based products in the retail market is driving the growth of Alternative Protein Markets in North America during the forecast period. Along with the existing business opportunities in the Alternative Protein Market, many companies are strategically planning business expansion plans, particularly in the plant protein sector.

Recent Developments

In 2021, ADM announced that it has reached an agreement to own Soja protein, which is a leading European non-GMO soy ingredients provider and will provide Alternative Protein Market products on a large scale.

Browse market data Tables and Figures spread through 130 Pages and in-depth TOC on "Alternative Protein Market Size, Share & Trends Analysis Report by Source (Plant-based, Insect-based, Microbial-based), by Application (Meat analogs, Dairy alternatives, Cereals & snacks, Beverages), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/alternative-protein-market-market-858838

The report on the Alternative Protein Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Alternative Protein Market?
  • How will the Alternative Protein Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Alternative Protein Market?   
  • What is the Alternative Protein market drivers and restrictions?
  • What will be the CAGR and size of the Alternative Protein Market throughout the forecast period?       

This market titled “Alternative Protein Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size in 2021USD 49.70 Million
Projected Market Size in 2028USD 126.84 Million
CAGR Growth RateCAGR of 16.90% From 2022 – 2028
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered• Source

   • Plant-based

   • Insect-based

   • Microbial-based

• Application

   • Meat analogs

   • Dairy alternatives

   • Cereals & snacks

   • Beverages

   • Others
Region & Counties Covered• North America

   • U.S.

   • Canada

   • Mexico

• Europe

   • U.K

   • France

   • Germany

   • Italy

   • Spain

   • Rest Of Europe

• Asia Pacific

   • China

   • Japan

   • India

   • South Korea

   • South East Asia

   • Rest Of Asia Pacific

• Latin America

   • Brazil

   • Argentina

   • Rest Of Latin America

• Middle East & Africa

   • GCC Countries

   • South Africa

   • Rest Of Middle East & Africa
Companies Covered • Archer Daniels Midland Company (U.S.)

• Cargill, Incorporated (U.S.)

• Roquette Freres (France)

• Ingredion Incorporated (U.S.)

• Kerry Group (Ireland)

• E.I. Dupont De Nemours and Company (U.S.)

• Now Foods (U.S.)

• Tate & Lyle Plc (U.K.)

• Axiom Foods Inc. (U.S.)

• Burcon NutraScience Corporation (Canada)

• Beneo GmbH (Germany)

• Glanbia Plc (Ireland)

• Sotexpro (France)

• CHS Inc (U.S.)

• AgriProtein (South Africa)

• Ynsect (France)

• and Enterra Feed Corporation (Canada)
Report CoverageMarket growth drivers, restraints, opportunities,
Porter’s five forces analysis, PEST analysis,
value chain analysis, regulatory landscape,
technology landscape, patent analysis,
market attractiveness analysis by segments
and North America, company market share analysis,
and COVID-19 impact analysis

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