DUBLIN, May 16, 2022–(BUSINESS WIRE)–ResearchAndMarkets.com adds “Alternative Protein Market by Type, Application – Global Forecast to 2029” report .
The global alternative protein market is expected to reach USD 36.61 billion by 2029, growing at a CAGR of 12.4% during the forecast period from 2022 to 2029.
The drivers of this market are the growing population and awareness of the benefits of alternative proteins, the increasing number of venture capital investments in alternative protein companies, the high nutritional value of edible insects, and the environmental sustainability benefits offered by alternative proteins.
Additionally, the growing shift towards vegan diets presents significant growth opportunities for alternative protein manufacturers. However, the high cost of alternative proteins and strong preference for animal-based products largely hinder the growth of this market.
On the basis of type, the alternative protein market is segmented into vegetable protein, insect protein, and microbial protein. It is estimated that the plant protein segment will account for the largest share of the alternative protein market by 2022. The majority of the share of this segment is mainly attributed to growing demand from food and beverage manufacturers, rising number of vegetarians, increasing number of plant-based product launches, and high presence of plant-based protein manufacturers.
However, the insect protein segment is expected to grow at the highest CAGR during 2022-2029. The high growth rate of this segment is driven by growing demand for environmentally friendly protein-rich foods and increasing investments in edible insect farming.
On the basis of application, the alternative protein market is segmented into plant protein based applications, insect protein based applications, and microbial protein based applications. Plant-based protein applications are estimated to account for the largest share of the alternative protein market by 2022.
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A large portion of this segment is attributed to growing vegetarian and vegan populations, growing consumer demand for clean label products, and increasing number of investments and expansions by plant-based product manufacturers.
It is estimated that North America will account for the largest share of the alternative protein market by 2022. However, Asia Pacific is expected to register the highest CAGR during the forecast period.
The high growth of the Asia Pacific market is attributed to the rising awareness of the importance of protein-rich diets, increasing technological advancements in the food and beverage industry, rapid economic growth, and wide availability of raw materials.
Key questions answered in the report
Which are the high growth segments in terms of type, application and country?
What is the historical market for global alternative protein?
What are the market forecasts and estimates for 2022-2029?
What are the key drivers, constraints, challenges, trends and opportunities in the global Alternative Protein Market?
Who are the key players in each country and how much market share do they hold?
What is the competitive landscape like?
What are the latest developments in the global alternative protein market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends and which are the high growth countries?
Who are the local emerging players in the global alternative protein market and how do they compete with other players?
Key topics covered:
1.2. Market Ecosystem
1.4. Key stakeholders
2. Research methodology
2.2. Data collection and validation
2.3. Market Assessment
2.4. Research hypothesis
2.5. Limitations of the study
3. Executive Summary
3.2. Segmentation Analysis
3.2.1.Alternative Protein Market, By Type
18.104.22.168.Plant Protein, by Type
22.214.171.124.Insect Protein, by Type
126.96.36.199.Microproteins, by Type
3.2.2. Alternative Protein Market, Analysis by Application
188.8.131.52.Plant Protein Market, By Application
184.108.40.206.Insect Protein Market, By Application
220.127.116.11.Microbial Protein Market, By Application
3.2.3.Alternative Protein Market, Regional Analysis
3.2.4.Competitive Landscape and Market Competitors
4. Market Insights
4.2.1.Growing population and awareness of the benefits of alternative proteins
4.2.2. Growing venture capital investment in alternative protein companies
4.2.3.High nutritional value of edible insects
4.2.4. Environmental sustainability of alternative protein production and consumption
4.3.1.High cost of alternative protein
4.3.2. Preference for animal products
4.4.1.Growing preference for a vegan diet
4.5. Investment/financing options
4.6. Pricing Analysis
4.6.2. Vegetable protein
4.6.3. Insect proteins
18.104.22.168.black soldier flying
4.7. Value chain analysis
5. Analysis of the Impact of COVID-19 on the Alternative Protein Market
6. Global Alternative Protein Market, by Type
6.2. Vegetable protein
6.2.1. Soy protein
6.2.2. Wheat protein
6.2.3. Pea protein
6.2.4. Rapeseed Protein
6.2.8.Other plant proteins
6.3. Insect proteins
6.3.2. Black Soldiers Fly
6.3.3. Other insect proteins
6.4.1. Algal proteins
6.4.3. Bacterial proteins
6.4.4. Yeast protein
7. Global Alternative Protein Market, By Application
7.2. Plant-based applications
7.2.1. Food and Beverages
22.214.171.124.Meat, Poultry and Seafood
126.96.36.199.Cereals and Snacks
7.2.2. Animal feed
7.2.3. Nutrition and health products
7.3. Applications based on insect proteins
7.3.1. Processing whole insects
7.3.2. Animal Feed and Pet Food
7.3.3. Processing insect meal
7.3.4. Insect protein bars and shakes
7.3.5.Insect bakery products and treats
7.3.7. Insect drink
7.4. Microprotein-based applications
7.4.1.Food & Beverage
7.4.2. Animal feed
8. Alternative Protein Market by Geography
8.2. North America
8.3.3. United Kingdom
8.3.6. Rest of Europe (RoE)
8.4. Asia Pacific
8.4.5. Rest of Asia Pacific (RoAPAC)
8.6. Middle East and Africa
9. Competitive Landscape
9.2. Key Growth Strategies
9.3. Competitive benchmarks
10. Company Profile
Archer Daniels Midland Company (USA)
Cargill Corporation (USA)
Roquette Freres (France)
Ingredion Corporation (USA)
Kerry Group (Ireland)
International Flavors and Fragrances (IFF) (USA)
NOW Foods (US)
Taylor’s Company (UK)
Axiom Foods Inc. (US)
Burcon NutraScience (Canada)
Beneo GmbH (part of Sudzucker AG) (Germany)
Glanbia Company (Ireland)
Farbest-Tallman Foods (USA)
CHS Inc. (USA)
Ynsect (SAS) (France)
Enterra Feed Company (Canada)
Protix BV (Netherlands)
Insect Farm (Canada)
Global Bugs Asia Co. Ltd. (Thailand)
Aspire Food Group (US)
EnviroFlight LLC (USA)
Haocheng Mealworm Co., Ltd. (China)
JR Unique Foods Ltd. (Thailand)
Armstrong Cricket Ground, Georgia (USA)
Rocky Mountain Micro Ranch (USA)
Cricket Labs Ltd (UK)
DIC Corporation (Japan)
Cellena Inc. (USA)
Taiwan Chlorella Manufacturing Company (Taiwan)
Cyanotech Corporation (USA)
Bluebiotech International GmbH (Germany)
Pond Technologies Holdings Inc. (Canada)
EID-Parry (India) Limited (India)
Tianjin Norland Biotechnology Co., Ltd. (China)
MycoTechnology Inc. (US)
Corbion NV (Netherlands)
Sun Chlorella Corporation (Japan)
Plant Foods Corporation (US)
Parabel Nutritional Inc. (USA)
Far East Biotechnology Co., Ltd. (Taiwan)
Far East Microalgae Industry
Co., Ltd. (Taiwan)
Roquette Klotze GmbH & Co. Kg (Germany)
Yaeyama Food Products Co., Ltd. (Japan)
Unibio Group (Denmark)
String Creatures (India)
Calysta Inc. (US)
Angel Yeast Co., Ltd. (China)
For more information on this report, please visit https://www.researchandmarkets.com/r/q4tg7j
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