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Protein Alternatives Market Size, Share & Growth Report 2031
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Protein Alternatives Market Size, Share & Growth Report 2031

Segments - 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 2023–2031

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-2130 | 4.5 Rating | 60 Reviews | 150 Pages | Format : PDF Excel PPT

Report Description


Protein Alternatives Market Outlook 2031

The global protein alternatives market size was valued at USD 19.29 Billion in 2022 and is anticipated to reach USD 74.51 Billion by 2031, expanding at a significant CAGR of 16.2% during forecast period, 2023–2031. 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.

Protein Alternatives Market Outlook

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.

  • 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 Protein Alternatives Market 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.

Attributes

Details

Report Title

Protein Alternatives Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023-2031

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)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

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.

Protein Alternatives Market Segment Insights

Source Segment Analysis

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.

Protein Alternatives Market Source

Application Segment Analysis

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.

Regional Outlook

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.

Protein Alternatives Market Region

Segments

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

Applications

  • Personal Care & Cosmetics
  • Food & Beverage
    • Beverages
    • Bakery
    • Plant-based Dairy Products
    • Confectionery
    • Others
  • Pet Food
  • Dietary Supplements
  • Animal Feed

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • 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.

Protein Alternatives Market Key Players

Table Of Content

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  

Methodology

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