NEWARK, Del, Aug. 05, 2022 (GLOBE NEWSWIRE) -- A recently published study by FMI expects the global alternative protein market to augment at a 21% CAGR from 2022 to 2032. By the end of the forecast period, alternative protein market is expected to garner a market value of US$ 73.44 Billion. Alternative protein is gaining prominence in the livestock industry and food & beverage industry owing to the nutrition it provides, Innovations and launches of different proteins is increasing the sales of alternative proteins.
From 2016 to 2021, the global pet snacks and treats market registered a CAGR of 14% by accumulating a market value of US$ 61 Billion in 2021. The COVID-19 pandemic played a key role in increasing the importance of building immunity. Thus, most people invested in organic and clean protein to stay healthy. In addition, demand for meeting dietary requirements of animals is escalating the demand for alternative proteins.
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North America, Asia Pacific and Europe are the major contributors to the alternative protein market owing to different reasons. Most people suffer from lactose intolerance or food allergies. Thus, consumers are investing in alternative protein. International players and start-ups are launching different protein products to cater to a larger consumer base.
Key Takeaways from the Market Study
- By source, microbial-based protein is expected to possess 40% market share for alternative protein market in the forecast period 2022-2032.
- By application, animal feed is expected to procure 55% market share for alternative proteins
- North America is expected to possess 40% of market share for alternative proteins
- Asia Pacific is expected to procure 18% market share for alternative proteins
- Europe is expected to possess 25% market share for alternative protein market in the assessment period.
“Alternative protein manufacturers are focusing on innovation and sustainability. This has led to production of cleaner and nutritious protein, thus, increasing sales of the same.” states an FMI analyst.
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Market Competition
Key players in the global alternative protein industry are Cargill Incorporation, Royal DSM NV, AMCO Proteins, Puris, Axiom Foods, Darling Ingredients, Innovafeed, Lallemand Inc, Hamlet Protein, Archer Daniel Midland Company, AB Mauri, Soja Protein, Ingredion, Ynsect, Angel Yeast, and Calysta Inc.
- Cargill Incorporation, a key player has introduced pea protein in the Asia market. The pea protein comprises of non-GMO features and has low allergenic. The protein is highly versatile and can be used in different food preparation.
- Royal DSM NV launched CanolaPRO, a plant-based protein source from canola (rapeseed). The protein is gluten-free, non-dairy, Non-GMO and offers a mouthfeel texture.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global alternative protein market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of by Source (Insect-based, Microbial-based, Plant-based, others) by application (Food & beverages, Cattle, Aquaculture, Animal Feed, Pet food, Equine, Others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Alternative Protein Market Industry Survey
Alternative Protein Market by Source:
- Insect-based Alternative Protein
- Microbial-based Alternative Protein
- Bacteria
- Yeast
- Algae
- Fungi
- Others
- Plant-based Alternative Protein
- Soy Protein Isolates
- Soy Protein Concentrates
- Fermented Soy Protein
- Duckweed Protein
- Others
- Other Alternative Protein Sources
Alternative Protein Market by Application:
- Alternative Protein for Food & Beverage
- Alternative Protein for Cattle
- Alternative Protein for Aquaculture
- Alternative Protein for Animal Feed
- Alternative Protein for Pet Food
- Alternative Protein for Equine
- Alternative Protein for Other Applications
Table of Content
1. Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Background and Foundation Data Points
3.1. Need of the Hour for Industries
3.2. Alternative Protein – Strategic Priorities
3.3. Life Cycle Stage
3.4. Importance of Technology
3.5. Use Cases of Alternative Protein
3.6. Forecast Factors: Relevance and Impact
3.7. Investment Feasibility Matrix
3.8. PESTLE Analysis
3.9. Porter’s Five Forces Analysis
3.10. Market Dynamics
3.10.1. Drivers
3.10.2. Restraints
3.10.3. Opportunity Analysis
3.10.4. Trend
4. Global Alternative Protein Market Demand (US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
Have a Look at Food and Beverage Domain Related Research Reports:
Pea Protein Ingredients Market Size : Sales in the pea protein ingredients market are estimated to total US$ 1.25 Bn in 2021. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 2.5 Bn by 2031
Soy Protein Ingredient Market Trends : The soy protein ingredients often serve as an alternative to animal protein in the global market, owing to its organic nature.
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Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on the Plant Based Market that throws light on potential opportunities and investments made in the Global plant based market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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