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Global Alternative Protein Market Size study, by Product (Plant Protein, Microbe-based Protein, Insect Protein), by Application (Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others) and Regional Forecasts 2022-2032

May 2024 | 200 pages | ID: G943EFAD3894EN
Bizwit Research & Consulting LLP

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Global Alternative Protein Market is valued at approximately USD 15.29 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2024-2032. Alternative proteins refer to protein sources that are not derived from traditional animal agriculture. These include plant-based proteins such as cereals, rice, oats, legumes, roots, and wheat, as well as insect proteins such as coleoptera, lepidoptera, hymnoptera, orthoptera, hemiptera, diptera, or microbial proteins (such as those derived from bacteria, algae, fungi, or yeast). Alternative proteins are gaining popularity as people become more conscious of the environmental consequences of animal agriculture. Animal agriculture contributes to greenhouse gas emissions, deforestation, and water pollution. Alternative proteins offer a solution to mitigate these impacts. The increasing popularity of plant-based options in food and beverages highlights a trend towards plant-focused diets, bolstered by creative new products that are expanding the market. Consumer preferences have shifted towards plant-based and alternative protein sources, driven by considerations like health, environmental consciousness, animal welfare, and a preference for sustainable food choices. Consequently, there has been a rise in demand for alternative protein products. The rise in advancements in food technology is a key trend for the Global Alternative Protein Market during the estimated period of 2024-2032. Food scientists are constantly developing new and innovative ways to produce alternative proteins. These advancements are making alternative proteins more appealing to consumers by improving their taste, texture, and nutritional profile.

In addition, consumers are increasingly concerned about their health. They are seeking protein sources that offer health benefits such as lower cholesterol, reduced saturated fats, and higher fiber content, which are often found in plant-based proteins. The Alternative Protein Market caters to a wide range of dietary preferences and restrictions, including vegetarian, vegan, flexitarian, and allergen-free diets, allowing companies to tap into a larger consumer base. Also, the increasing venture investments in alternative protein companies, growing awareness regarding the nutritional content of edible insects, and the increasing environmental advantages of alternative proteins are propelling the growth of the Global Alternative Protein Market. Furthermore, ongoing research and development initiatives for innovative products, coupled with a growing vegan preference, present significant opportunities for the alternative protein market to expand over the forecast period. However, challenges such as the higher cost of alternative proteins and the allergies associated with different alternative proteins such as plant-based and insect-based are expected to hinder the growth of the market between 2022 and 2032.

The key regions considered for the global Alternative Protein Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market. Increased consumer awareness regarding environmental sustainability and animal welfare has driven a shift towards plant-based and alternative protein sources. This shift is exemplified by the growing popularity of plant-based meat products, such as Beyond Meat and Impossible Foods, reflecting consumers' readiness to adopt alternative protein options for ethical and environmental reasons. The rising demand for protein-rich foods, influenced by health and wellness trends, along with the increasing adoption of flexitarian, vegetarian, and vegan diets, has created a significant market opportunity for alternative protein products. Companies such as Oatly and Califia Farms, offering oat milk and almond milk respectively, showcase how non-animal-based proteins meet the needs of consumers embracing plant-based dietary choices. Moreover, market players are actively taking strategic initiatives, which is bolstering the market growth across the region. For instance, in December 2022, Bunge unveiled plans for a USD 550 million investment in the construction of a fully integrated facility for Soy Protein Concentrate (SPC) and Textured Soy Protein Concentrate (TSPC). This facility is strategically located adjacent to and seamlessly integrated with Bunge's soybean processing plant in Indiana, U.S. Construction is slated to begin in the first quarter of 2023, targeting a commissioning date around mid-2025. This venture is expected to generate around 70 full-time job opportunities and aims to process an additional 4.5 million bushels of soybeans. The primary objective behind this initiative is to meet the escalating demand for essential ingredients in plant-based foods, processed meat, pet food, and feed products. Furthermore, the market in Asia Pacific is expected to develop at the fastest rate over the forecast period.

Major market player included in this report are:
Cargill Inc.
Lightlife Foods, Inc.
Impossible Foods Inc.
International Flavors & Fragrances, Inc.
Ingredion Inc.
Kerry Group Plc
Glanbia plc
Bunge Limited
Axiom Foods Inc.
Tate & Lyle PLC

The detailed segments and sub-segment of the market are explained below:

By Product
Plant Protein
Microbe-based Protein
Insect Protein

By Application
Food & Beverages
Infant Formulations
Clinical Nutrition
Animal Feed
Others

?
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.


CHAPTER 1. GLOBAL ALTERNATIVE PROTEIN MARKET DEFINITION AND RESEARCH ASSUMPTIONS

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
  1.3.1. Inclusion & Exclusion
  1.3.2. Limitations
  1.3.3. Supply Side Analysis
    1.3.3.1. Availability
    1.3.3.2. Infrastructure
    1.3.3.3. Regulatory Environment
    1.3.3.4. Market Competition
    1.3.3.5. Economic Viability (Consumer’s Perspective)
  1.3.4. Demand Side Analysis
    1.3.4.1. Regulatory frameworks
    1.3.4.2. Technological Advancements
    1.3.4.3. Environmental Considerations
    1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Global Alternative Protein Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
  2.3.1. By Product
  2.3.2. By Application
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion

CHAPTER 3. GLOBAL ALTERNATIVE PROTEIN MARKET DYNAMICS

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

CHAPTER 4. GLOBAL ALTERNATIVE PROTEIN MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL ALTERNATIVE PROTEIN MARKET SIZE & FORECASTS BY PRODUCT 2022-2032

5.1. Plant Protein
5.2. Microbe-based Protein
5.3. Insect Protein

CHAPTER 6. GLOBAL ALTERNATIVE PROTEIN MARKET SIZE & FORECASTS BY APPLICATION 2022-2032

6.1. Food & Beverages
6.2. Infant Formulations
6.3. Clinical Nutrition
6.4. Animal Feed
6.5. Others

CHAPTER 7. GLOBAL ALTERNATIVE PROTEIN MARKET SIZE & FORECASTS BY REGION 2022-2032

7.1. North America Alternative Protein Market
  7.1.1. U.S. Alternative Protein Market
    7.1.1.1. Product breakdown size & forecasts, 2022-2032
    7.1.1.2. Application breakdown size & forecasts, 2022-2032
  7.1.2. Canada Alternative Protein Market
7.2. Europe Alternative Protein Market
  7.2.1. U.K. Alternative Protein Market
  7.2.2. Germany Alternative Protein Market
  7.2.3. France Alternative Protein Market
  7.2.4. Spain Alternative Protein Market
  7.2.5. Italy Alternative Protein Market
  7.2.6. Rest of Europe Alternative Protein Market
7.3. Asia-Pacific Alternative Protein Market
  7.3.1. China Alternative Protein Market
  7.3.2. India Alternative Protein Market
  7.3.3. Japan Alternative Protein Market
  7.3.4. Australia Alternative Protein Market
  7.3.5. South Korea Alternative Protein Market
  7.3.6. Rest of Asia Pacific Alternative Protein Market
7.4. Latin America Alternative Protein Market
  7.4.1. Brazil Alternative Protein Market
  7.4.2. Mexico Alternative Protein Market
  7.4.3. Rest of Latin America Alternative Protein Market
7.5. Middle East & Africa Alternative Protein Market
  7.5.1. Saudi Arabia Alternative Protein Market
  7.5.2. South Africa Alternative Protein Market
  7.5.3. Rest of Middle East & Africa Alternative Protein Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Cargill Inc.
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Market Strategies
  8.3.2. Lightlife Foods, Inc.
  8.3.3. Impossible Foods Inc.
  8.3.4. International Flavors & Fragrances, Inc.
  8.3.5. Ingredion Inc.
  8.3.6. Kerry Group Plc
  8.3.7. Glanbia plc
  8.3.8. Bunge Limited
  8.3.9. Axiom Foods Inc.
  8.3.10. Tate & Lyle PLC

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Alternative Protein Market, report scope
TABLE 2. Global Alternative Protein Market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Alternative Protein Market estimates & forecasts by Product 2022-2032 (USD Billion)
TABLE 4. Global Alternative Protein Market estimates & forecasts by Application 2022-2032 (USD Billion)
TABLE 5. Global Alternative Protein Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Global Alternative Protein Market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Global Alternative Protein Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Alternative Protein Market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Alternative Protein Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Alternative Protein Market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Alternative Protein Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Alternative Protein Market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Alternative Protein Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Alternative Protein Market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 21. UK Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 22. UK Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 23. UK Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 24. Germany Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 25. Germany Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 26. Germany Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 27. France Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 28. France Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 29. France Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 30. Italy Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 31. Italy Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 32. Italy Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 33. Spain Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 34. Spain Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 35. Spain Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 36. RoE Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 37. RoE Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 38. RoE Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 39. China Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 40. China Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 41. China Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 42. India Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 43. India Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 44. India Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 45. Japan Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 46. Japan Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 47. Japan Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 48. Australia Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 49. Australia Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 50. Australia Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 51. South Korea Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 52. South Korea Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 53. South Korea Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 54.
TABLE 55. RoAPAC Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 56. RoAPAC Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 57. RoAPAC Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 58. Brazil Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 59. Brazil Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 60. Brazil Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 61. Mexico Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 62. Mexico Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 63. Mexico Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 64. RoLA Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 65. RoLA Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 66. RoLA Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 67. Saudi Arabia Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 68. Saudi Arabia Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 69. Saudi Arabia Alternative Protein Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 70. South Africa Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 71.
TABLE 72. South Africa Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 73. South Africa Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 74. RoMEA Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 75. RoMEA Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 76. RoMEA Alternative Protein Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 77. List of secondary sources, used in the study of Global Alternative Protein Market.
TABLE 78. List of primary sources, used in the study of Global Alternative Protein Market.
TABLE 79. Years considered for the study.
TABLE 80. Exchange rates considered.

LIST OF FIGURES

FIG 1. Global Alternative Protein Market, research methodology
FIG 2. Global Alternative Protein Market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Alternative Protein Market, key trends 2023
FIG 5. Global Alternative Protein Market, growth prospects 2022-2032
FIG 6. Global Alternative Protein Market, porters 5 force model
FIG 7. Global Alternative Protein Market, pestel analysis
FIG 8. Global Alternative Protein Market, value chain analysis
FIG 9. Global Alternative Protein Market by segment, 2022 & 2032 (USD Billion)
FIG 10. Global Alternative Protein Market by segment, 2022 & 2032 (USD Billion)
FIG 11. Global Alternative Protein Market by segment, 2022 & 2032 (USD Billion)
FIG 12. Global Alternative Protein Market by segment, 2022 & 2032 (USD Billion)
FIG 13. Global Alternative Protein Market by segment, 2022 & 2032 (USD Billion)
FIG 14. Global Alternative Protein Market, regional snapshot 2022 & 2032
FIG 15. North America Alternative Protein Market 2022 & 2032 (USD Billion)
FIG 16. Europe Alternative Protein Market 2022 & 2032 (USD Billion)
FIG 17. Asia pacific Alternative Protein Market 2022 & 2032 (USD Billion)
FIG 18. Latin America Alternative Protein Market 2022 & 2032 (USD Billion)
FIG 19. Middle East & Africa Alternative Protein Market 2022 & 2032 (USD Billion)
FIG 20. Global Alternative Protein Market, company market share analysis (2023)


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