The Alternative Protein Market size was valued at USD 19.11 billion in 2022 and is expected to reach at USD 62.65 billion by 2030, and grow at a CAGR of 16% over the forecast period of 2023-2030.
The rise in demand for alternative Proteins is the driving factor for the alternative Protein market. There are many other factors which contribute to the rise in demand for the alternative market the major ones include the interest of the investors in this market as the demand and the consumption of alternative Protein market is increasing. The nutrients present in alternative Protein and the health benefits which comes after the consumption of alternative Protein is the driving factor of the alternative Protein market. As the adaptation of the veganism trend is going all around the globe the demand for alternative Protein is very high. Alternative Protein is also considered as the substitute for plant-based Protein. The meat-based Protein may have an adverse effect due to the unhygienic and side effects of consuming meat-based Protein; alternative Protein is mainly considered clean Protein. The rise of cardiovascular diseases due to the increase in cholesterol levels and obesity issues is also the driving factor for alternative Protein as the demand increases, People are getting aware due to the results of alternative Protein.
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Covid 19 had a good impact on the alternative market due to the rise in demand. The major reason behind the growth was the rise in awareness of the zoonotic viral disease, according to the experts the consumption of alternative Protein leads to helping reduce the symptoms which gave alternative Protein a boom. The rise in the awareness of the alternative Protein and the micronutrient antioxidants present in the alternative Protein was the driving factor for the alternative Protein market during the covid 19. During covid, 19 consumption of healthy food was the priority and the improvement of the immune system because of which alternative Protein demand increased, meat-based Protein was not an option for vegetarians so alternative Protein was considered a better option.
Drivers
Rise in awareness about alternative Protein all around the globe.
Rise in the consumption of alternative Proteins because of the micronutrients and antioxidants present in them.
Restrain
The rules and the regulations from the government and also the problems of indigestion after the consumption of alternative Protein.
Opportunities
Increase in technological advancement in the ogranic food and beverage sector.
The acceptance and ongoing veganism trend all around the globe.
Challenges
The other available option like plant-based protein.
The perception of people regarding the benefits associated with meat-based Protein.
Stringent regulatory compliances.
The supply chain problems due to the global route’s disruptions are the major concern for the alternative Protein market. The restrictions which were imposed by the governments regarding the exports and imports caused a negative impact on the alternative Protein market which also led to the problem of price fluctuation for basic commodities and resources, whereas an increase in prices of transportation also had a direct impact on the alternative Protein market.
According to the experts during the recession alternative Protein is said to work as an alternative option for meat-based Protein because of the price difference between the alternative Protein and meat-based Protein. The buying pattern among the consumers will lead to a positive effect on the alternative Protein market. The mild recession won’t have a great impact on the buying decisions of consumers as experts say the importance of consuming Protein-based foods is increasing day by day.
By Source
Plant Protein
Algae Protein
By Application
Food and beverages
Dietary replacers
Animal feed
By Distribution channel
Chemist
Supermarkets
Online store
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North America is said to have the highest share of the alternative Protein market compared to the other regions due to the increase in the awareness of the health benefits of the consumption of alternative Protein, also the increase in the ongoing trend of veganism in the developed cities of North America.
APAC is also considered to be a growing region due to the adaption of alternative Protein and the rise in awareness of the benefits of consuming Protein-based Protein the technological advancement in the food and beverage industry is the major driving factor for alternative-based Protein.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Farbest brands, Mycotechnology, Kerry group plc, String Bio, Calysta inc, Cargill incorporated, Archer Daniels midland company, Glanbia Plc, Axiom foods, Armstrong cricket farm georgia, beneo GmbH, Roquette ferres, now foods, tate and lyle, Angel yeast co.
Report Attributes | Details |
Market Size in 2022 | US$ 19.11 Bn |
Market Size by 2030 | US$ 62.65 Bn |
CAGR | CAGR of 16% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2019-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By source (Plant Protein, Algae Protein, Insect Protein) • By Application (Food and beverages, Dietary replacers, Animal feed) • By Distribution Channel (Chemist, Supermarkets, Online store) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Farbest brands, Mycotechnology, Kerry group plc, String Bio, Calysta inc, Cargill incorporated, Archer Daniels midland company, Glanbia Plc, Axiom foods, Armstrong cricket farm georgia, beneo GmbH, Roquette ferres, now foods, tate and lyle, Angel yeast co. |
Key Drivers | • Rise in awareness about alternative Protein all around the globe. • Rise in the consumption of alternative Proteins because of the micronutrients and antioxidants present in them. |
Market Opportunities | • Increase in technological advancement in the food and beverage sector. • The acceptance and ongoing veganism trend all around the globe. |
The base value for this market is USD 19.11 billion in 2022.
The rules and the regulations from the government and also the problems of indigestion after the consumption of alternative Protein.
North America will dominate this market followed by APAC also showing good growth for the alternative Protein market.
The buying pattern among the consumers will lead to a positive effect on the alternative Protein market as consumers will look for the less expensive available options.
Increase in technological advancement in the food and beverage sector. The acceptance and ongoing veganism trend all around the globe.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Alternative Protein Market Segmentation, by Source
8.1 Plant Protein
8.2 Algae Protein
8.3 Insect Protein
9. Alternative Protein Market Segmentation, by Application
9.1 Food and beverages
9.2 Dietary replacers
9.3 Animal feed
10 Alternative Protein Market Segmentation, by Distribution Channel
10.1 Chemist
10.2 Supermarkets
10.3 Online store
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.1.1 USA Alternative Protein Market by Source
11.2.1.2 USA Alternative Protein Market by Application
11.2.1.3 USA Alternative Protein Market by Distribution Channel
11.2.2 Canada
11.2.2.1 Canada Alternative Protein Market by Source
11.2.2.2 Canada Alternative Protein Market by Application
11.2.2.3 Canada Alternative Protein Market by Distribution Channel
11.2.3 Mexico
11.2.3.1 Mexico Alternative Protein Market by Source
11.2.3.2 Mexico Alternative Protein Market by Application
11.2.3.3 Mexico Alternative Protein Market by Distribution Channel
11.3 Europe
11.3.1 Germany
11.3.1.1 Germany Alternative Protein Market by Source
11.3.1.2 Germany Alternative Protein Market by Application
11.3.1.2 Germany Alternative Protein Market by Distribution Channel
11.3.2 UK
11.3.2.1 UK Alternative Protein Market by Source
11.3.2.2 UK Alternative Protein Market by Application
11.3.2.3 UK Alternative Protein Market by Distribution Channel
11.3.3 France
11.3.3.1 France Alternative Protein Market by Source
11.3.3.2 France Alternative Protein Market by Application
11.3.3.3 France Alternative Protein Market by Distribution Channel
11.3.4 Italy
11.3.4.1 Italy Alternative Protein Market by Source
11.3.4.2 Italy Alternative Protein Market by Application
11.3.4.3 Italy Alternative Protein Market by Distribution Channel
11.3.5 Spain
11.3.5.1 Spain Alternative Protein Market by Source
11.3.5.2 Spain Alternative Protein Market by Application
11.3.5.3 Spain Alternative Protein Market by Distribution Channel
11.3.6 The Netherlands
11.3.6.1 Netherlands Alternative Protein Market by Source
11.3.6.2 Netherlands Alternative Protein Market by Application
11.3.6.3 Netherlands Alternative Protein Market by Distribution Channel
11.3.7 Rest of Europe
11.3.7.1 Rest of Europe Alternative Protein Market by Source
11.3.7.2 Rest of Europe Alternative Protein Market by Application
11.3.7.3 Rest of Europe Alternative Protein Market by Distribution Channel
11.4 Asia-Pacific
11.4.1 Japan
11.4.1.1 Japan Alternative Protein Market by Source
11.4.1.2 Japan Alternative Protein Market by Application
11.4.1.3 Japan Alternative Protein Market by Distribution Channel
11.4.2 South Korea
11.4.2.1 South Korea Alternative Protein Market by Source
11.4.2.2 South Korea Alternative Protein Market by Application
11.4.2.3 South Korea Alternative Protein Market by Distribution Channel
11.4.3 China
11.4.3.1 China Alternative Protein Market by Source
11.4.3.2 China Alternative Protein Market by Application
11.4.3.3 China Alternative Protein Market by Distribution Channel
11.4.4 India
11.4.4.1 India Alternative Protein Market by Source
11.4.4.2 India Alternative Protein Market by Application
11.5.4.3 India Alternative Protein Market by Distribution Channel
11.4.5 Australia
11.4.5.1 Australia Alternative Protein Market by Source
11.4.5.2 Australia Alternative Protein Market by Application
11.4.5.3 Australia Alternative Protein Market by Distribution Channel
11.4.6 Rest of Asia-Pacific
11.4.6.1 APAC Alternative Protein Market by Source
11.4.6.2 APAC Alternative Protein Market by Application
11.4.6.3 APAC Alternative Protein Market by Distribution Channel
11.5 The Middle East & Africa
11.5.1 Israel
11.5.1.1 Israel Alternative Protein Market by Source
11.5.1.2 Israel Alternative Protein Market by Application
11.5.1.3 Israel Alternative Protein Market by Distribution Channel
11.5.2 UAE
11.5.2.1 UAE Alternative Protein Market by Source
11.5.2.2 UAE Alternative Protein Market by Application
11.5.2.3 UAE Alternative Protein Market by Distribution Channel
11.5.3 South Africa
11.5.3.1 South Africa Alternative Protein Market by Source
11.5.3.2 South Africa Alternative Protein Market by Application
11.5.3.3 South Africa Alternative Protein Market by Distribution Channel
11.5.4 Rest of Middle East & Africa
11.5.4.1 Rest of Middle East & Asia Alternative Protein Market by Source
11.5.4.2 Rest of Middle East & Asia Alternative Protein Market by Application
11.5.4.3 Rest of Middle East & Asia Alternative Protein Market by Distribution Channel
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Brazil Alternative Protein Market by Source
11.6.1.2 Brazil Africa Alternative Protein Market by Application
11.6.1.3 Brazil Alternative Protein Market by Distribution Channel
11.6.2 Argentina
11.6.2.1 Argentina Alternative Protein Market by Source
11.6.2.2 Argentina Alternative Protein Market by Application
11.6.2.3 Argentina Alternative Protein Market by Distribution Channel
11.6.3 Rest of Latin America
11.6.3.1 Rest of Latin America Alternative Protein Market by Source
11.6.3.2 Rest of Latin America Alternative Protein Market by Application
11.6.3.3 Rest of Latin America Alternative Protein Market by Distribution Channel
12 Company Profile
12.1 Farbest brands
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Mycotechnology
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Kerry group plc
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 String Bio
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5Calysta inc,
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Cargill incorporated,
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Archer Daniels midland company,
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Glanbia Plc,
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9Axiom foods
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Armstrong cricket farm Georgia
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 beneo GmbH, Roquette ferres
12.11.1 Market Overview
12.11.2 Financials
12.11.3 Product/Services/Offerings
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 Now foods
12.12.1 Market Overview
12.12.2 Financials
12.12.3 Product/Services/Offerings
12.12.4 SWOT Analysis
12.12.5 The SNS View
12.13 tate and lyle,
12.13.1 Market Overview
12.13.2 Financials
12.13.3 Product/Services/Offerings
12.13.4 SWOT Analysis
12.13.5 The SNS View
12.14 Angel yeast co
12.14.1 Market Overview
12.14.2 Financials
12.14.3 Product/Services/Offerings
12.14.4 SWOT Analysis
12.14.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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