Alternative Protein Market Analysis by Trends Size, Share, Future Plans and Forecast 2029

Posted June 12, 2023 by shambhavimmr

Alternative Protein Market size was valued at US$ 15.37 Billion in 2021 and the total Alternative Protein revenue is expected to grow at 9.84% through 2021 to 2029, reaching nearly US$ 32.58 Billion.
Market Overview

Maximize Market research, a leading Global Alternative Protein Market research firm, which delivers data and analysis at the global, regional and country levels has published an Alternative Protein market report. The domain expert has analysed the Alternative Protein at a regional and global level.

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Market Scope

Competitive analysis of the Alternative Protein market which gives insides to new players about sharks present in the market with their financial health, revenue, technological advancements, mergers and acquisitions, recent developments, marketing tactics, alliances, and joint ventures.

The Alternative Protein market report consists of microanalysis with accurate illustrations, graphs and simple-to-grasp language which helps users to understand the key points and overall aspects of the industry, this report is carved using history, consumer habits, & market volatility.

The Alternative Protein market report consists of the analysis of restraints, opportunities, challenges, and risks with the help of SWOT analysis and Porter's Five Forces analysis, which are standard & prominent full-proof methods to provide analysis of the market.

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According to sources, the vegetable protein segment is dominating the global market in 2021. This segment is expected to grow at the highest CAGR of 6.7% during the forecast period (2022-2029). Plant-based proteins are further broken down into wheat-, soy-, pea- and oat-based proteins. Pea protein is used in a variety of egg and meat based products. The main factor behind the growth of the pea processing sector is low processing costs. Additionally, according to the CDC (Centers for Disease Control and Prevention), most illnesses are caused by a non-vegetarian diet. This is expected to drive the growth of this segment during the same forecast period.

The Myprotein division was valued at $550 million in 2021. Mycoprotein products mimic the taste and texture of real meat better than other alternatives such as tempeh or seitan. These are plant-based ingredients that are rich in vitamins and proteins. These factors are expected to contribute to the growth of this segment during the same forecast period.

Insect proteins are derived from mealworms, crickets, grasshoppers and ants. These insects are part of traditional protein intake in many South Asian countries. They are used due to their high conversion efficiency. This factor is expected to drive the growth of this segment during the forecast period. By application, the food and beverage segment dominated the global alternative protein market in 2021. This segment is also projected to grow at a maximum CAGR of 5.6% during the above forecast period. This is because various alternative foods like paneer are rapidly replacing traditional protein sources.

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Key Players

• Corbion Biotech Inc.
• Agriprotein Holdings Ltd
• Algatechologies Ltd.
• BurconNutraScience Corporation
• Aspire Food Group
• EntofoodSdn Bhd
• MycoTechnology Inc.
• Tianjin Norland Biotech Co., Ltd
• Enterra Feed Corporation
• Glanbia Plc.
• Microalgaetech International SdnBhd
• Ingredion Incorporated
• Sun Chlorella Corporation
• Parabel, Inc.
• Plantible Foods, Inc.
• Now foods

Regional Analysis

The report assists in planning and implementing new strategies which are suitable and appropriately applicable according to specific countries and regions in the market.

The detailed regional analysis provided in the report aids stakeholders, new entrants, investors, entrepreneurs, researchers, market followers and players in an easy illustration of various elements of the market, presenting a future outlook with expected risks and trends in the Market.

A competitive regional analysis of the Alternative Protein market was conducted listing competitors in the market along with new entrants. A comprehensive analysis is effective to gain a comprehensive understanding of the market structure and growth strategies of various players.

Key Questions answered in the Alternative Protein Market Report are:

What is Alternative Protein Market?
What is the forecast period of the Alternative Protein Market?
What is the competitive scenario of the Alternative Protein market?
Which region held the largest market share in the Alternative Protein Market?
What are the opportunities for the Alternative Protein Market?
What factors are affecting the Alternative Protein market growth?
Who are the key players of the Alternative Protein market?
Which company held the largest share in the Alternative Protein market?
What will be the CAGR of the Alternative Protein market during the forecast period?
What key trends are likely to emerge in the Alternative Protein market in the coming years?
Key offerings:

Market Share, Size, and Forecast by Revenue|2022-2029
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation: A detailed analysis by Alternative Protein Market
Landscape- Leading key players and other prominent key players.
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Categories Business , Consumer , Services
Tags alternative protein market share , alternative protein market analysis
Last Updated June 12, 2023