Protein Alternatives Market by Source (Insect Protein, Plant Protein [Pea Protein, Dry Protein, Wheat Protein, and Others], Algal Protein, and Mycoprotein), Application (Personal Care & Cosmetics, Food & Beverage [Beverages, Bakery, Plant-based Dairy Products, Confectionery, Others], Pet Food, Dietary Supplements, and Animal Feed), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa)–Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028
The protein alternatives market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, increasing overall efficiency & productivity for enterprises, increasing intolerance towards animal protein.
From a variety of meat substitutes, algae, and re-engineered plant-based legumes the alternative proteins are obtained. Plant-based meat, lab-grown meat, and single-cell proteins are obtained from algae, yeast, and edible insects.
The Covid-19 pandemic affected the protein alternatives market. Lockdown across the globe, reduction in demand of the protein, supply chain disorders, and decreasing supply of materials required to make proteins, forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Changing customer preference towards vegan protein is projected to boost the market.
- Increasing usages of protein alternatives in confectionery is the major factor fueling the market.
- Lack of awareness about the protein alternatives is projected to restrict the market expansion during the forecast period.
- High price of the products is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in protein alternatives market is projected to offer lucrative opportunities for the market players
Scope of the Report
The report on the protein alternatives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Protein Alternatives Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018-2019 |
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Forecast Period |
2021-2028 |
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Segmentation |
Source (Insect Protein, Plant Protein [Pea Protein, Dry Protein, Wheat Protein, and Others], Algal Protein, and Mycoprotein), Application (Personal Care & Cosmetics, Food & Beverage [Beverages, Bakery, Plant-based Dairy Products, Confectionery, Others], Pet Food, Dietary Supplements, and Animal Feed) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players covered in the Report |
Royal Avebe UA; Corbion NV; Ingredion Inc.; Cargill, Inc.; DuPont de Nemours Inc.; The Archer Daniels Midland Company; Glanbia PLC; and Kerry Inc. |
Market Segment Insights
The plant protein segment accounts for key share of the market
On the basis of sources, the protein alternatives market is fragmented into insect protein, plant protein, algal protein, and mycoprotein. The plant protein segment is sub-segmented into pea protein, dry protein, wheat protein, and others. The plant protein segment accounts for a key share of the market. Growth of the market is attributed to incorporation of plant protein in processed food and increasing research & development activities in protein alternatives. However, the algal protein segment is anticipated to expand at a rapid pace during the forecast period due to increasing per capita income, rising awareness among consumers, and increasing plant-based diets.
The food & beverages segment is anticipated to hold significant market share
Based on applications, the market is divided into personal care & cosmetics, food & beverage, pet food, dietary supplements, and animal feed. The food & beverages segment is sub-segmented into beverages, bakery, plant-based dairy products, confectionery, others. The food & beverages segment accounts for a significant share of the market. Growth of the market is attributed to strict environmental regulations, rapidly growing population, and rapid innovations in protein alternatives. The personal care & cosmetics segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising investment by private sectors, increasing penetration of vegan protein products in retail market, and rising number of small & medium industry.
North America is estimated to hold major market share
On the basis of region, the protein alternatives market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to factors such as presence of major market players and rapid economic growth in region. The market of North America is estimated to hold major market share due to rapidly growing number of working people, strict environmental regulations, increasing adoption of soy protein from end-user industry, and rapid industrialization.
Segments
Segments Covered in the ReportThe protein alternatives market has been segmented on the basis of
Sources
- Insect Protein
- Plant Protein
- Pea Protein
- Dry Protein
- Wheat Protein
- Others
- Algal Protein
- Mycoprotein
- Personal Care & Cosmetics
- Food & Beverage
- Beverages
- Bakery
- Plant-based Dairy Products
- Confectionery
- Others
- Pet Food
- Dietary Supplements
- Animal Feed
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Royal Avebe UA
- Corbion NV
- Ingredion Inc.
- Cargill, Inc.
- DuPont de Nemours Inc.
- The Archer Daniels Midland Company
- Glanbia PLC
- Kerry Inc.
Competitive Landscape
Key players competing in the protein alternatives market include Royal Avebe UA; Corbion NV; Ingredion Inc.; Cargill, Inc.; DuPont de Nemours Inc.; The Archer Daniels Midland Company; Glanbia PLC; and Kerry Inc.
Some of these players are using several market strategies such as product launches, capacity expansion, merger, acquisitions, collaborations, and partnerships to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Protein Alternatives Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Protein Alternatives Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Protein Alternatives Market - Supply Chain
4.5. Global Protein Alternatives Market Forecast
4.5.1. Protein Alternatives Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Protein Alternatives Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Protein Alternatives Market Absolute $ Opportunity
5. Global Protein Alternatives Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Protein Alternatives Market Size and Volume Forecast by Applications
5.3.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Protein Alternatives Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Protein Alternatives Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Protein Alternatives Demand Share Forecast, 2019-2026
7. North America Protein Alternatives Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Protein Alternatives Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Protein Alternatives Market Size and Volume Forecast by Applications
7.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Protein Alternatives Demand Share Forecast, 2019-2026
8. Latin America Protein Alternatives Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Protein Alternatives Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Protein Alternatives Market Size and Volume Forecast by Applications
8.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Protein Alternatives Demand Share Forecast, 2019-2026
9. Europe Protein Alternatives Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Protein Alternatives Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Protein Alternatives Market Size and Volume Forecast by Applications
9.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Protein Alternatives Demand Share Forecast, 2019-2026
10. Asia Pacific Protein Alternatives Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Protein Alternatives Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Protein Alternatives Market Size and Volume Forecast by Applications
10.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Protein Alternatives Demand Share Forecast, 2019-2026
11. Middle East & Africa Protein Alternatives Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Protein Alternatives Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Protein Alternatives Market Size and Volume Forecast by Applications
11.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Protein Alternatives Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Protein Alternatives Market: Market Share Analysis
12.2. Protein Alternatives Distributors and Customers
12.3. Protein Alternatives Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Royal Avebe UA Corbion NV Ingredion Inc. Cargill, Inc. DuPont de Nemours Inc. The Archer Daniels Midland Company
2. Assumptions and Acronyms Used
3. Research Methodology
4. Protein Alternatives Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Protein Alternatives Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Protein Alternatives Market - Supply Chain
4.5. Global Protein Alternatives Market Forecast
4.5.1. Protein Alternatives Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Protein Alternatives Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Protein Alternatives Market Absolute $ Opportunity
5. Global Protein Alternatives Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Protein Alternatives Market Size and Volume Forecast by Applications
5.3.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Protein Alternatives Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Protein Alternatives Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Protein Alternatives Demand Share Forecast, 2019-2026
7. North America Protein Alternatives Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Protein Alternatives Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Protein Alternatives Market Size and Volume Forecast by Applications
7.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Protein Alternatives Demand Share Forecast, 2019-2026
8. Latin America Protein Alternatives Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Protein Alternatives Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Protein Alternatives Market Size and Volume Forecast by Applications
8.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Protein Alternatives Demand Share Forecast, 2019-2026
9. Europe Protein Alternatives Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Protein Alternatives Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Protein Alternatives Market Size and Volume Forecast by Applications
9.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Protein Alternatives Demand Share Forecast, 2019-2026
10. Asia Pacific Protein Alternatives Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Protein Alternatives Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Protein Alternatives Market Size and Volume Forecast by Applications
10.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Protein Alternatives Demand Share Forecast, 2019-2026
11. Middle East & Africa Protein Alternatives Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Protein Alternatives Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Protein Alternatives Market Size and Volume Forecast by Applications
11.4.1. Personal Care & Cosmetics Food & Beverage Pet Food Dietary Supplements Animal Feed
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Protein Alternatives Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Protein Alternatives Market: Market Share Analysis
12.2. Protein Alternatives Distributors and Customers
12.3. Protein Alternatives Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Royal Avebe UA Corbion NV Ingredion Inc. Cargill, Inc. DuPont de Nemours Inc. The Archer Daniels Midland Company
Segments Covered in the Report
The protein alternatives market has been segmented on the basis of
Sources
The protein alternatives market has been segmented on the basis of
Sources
- Insect Protein
- Plant Protein
- Pea Protein
- Dry Protein
- Wheat Protein
- Others
- Algal Protein
- Mycoprotein
- Personal Care & Cosmetics
- Food & Beverage
- Beverages
- Bakery
- Plant-based Dairy Products
- Confectionery
- Others
- Pet Food
- Dietary Supplements
- Animal Feed
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Royal Avebe UA
- Corbion NV
- Ingredion Inc.
- Cargill, Inc.
- DuPont de Nemours Inc.
- The Archer Daniels Midland Company
- Glanbia PLC
- Kerry Inc.
Key players competing in the protein alternatives market include Royal Avebe UA; Corbion NV; Ingredion Inc.; Cargill, Inc.; DuPont de Nemours Inc.; The Archer Daniels Midland Company; Glanbia PLC; and Kerry Inc.
Some of these players are using several market strategies such as product launches, capacity expansion, merger, acquisitions, collaborations, and partnerships to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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