CHICAGO, July 1, 2024
/PRNewswire/ -- The protein alternatives market is
estimated at USD 15.7 billion in 2024
and is projected to reach USD 25.2
billion by 2029, at a CAGR of 9.9% from 2024 to 2029
according to a new report by MarketsandMarkets™. The
alternative proteins market has witnessed remarkable growth in
recent years, driven by a confluence of factors including rising
consumer health consciousness, environmental concerns, and ethical
considerations regarding animal welfare. These proteins, derived
from plant-based sources, insects, and algae present sustainable
and efficient options compared to traditional animal-based
proteins. The market expansion is bolstered by significant
advancements in food technology, enabling the production of
alternative proteins that closely mimic the taste, texture, and
nutritional profile of conventional meat, thus broadening their
appeal to a wider consumer base.
Demand for alternative proteins is particularly robust in the
food sector, where consumers are increasingly seeking healthier and
more sustainable food options. This shift is reflected in the
growing popularity of plant-based meat products, dairy
alternatives, and protein-rich snacks. In the feed sector,
alternative proteins such as insect-based meals and algae are
gaining traction as sustainable feed options for livestock and
aquaculture, addressing the challenges of feed security and
reducing the environmental footprint of animal farming. The
market's dynamic growth trajectory is supported by substantial
investments from major food corporations and startups alike,
highlighting the potential of alternative proteins to transform the
future of food and feed industries.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=233726079
Browse in-depth TOC on "Protein Alternatives Market"
70 – Tables
70 – Figures
300
– Pages
The dry sub-category is projected to hold the leading
position within the form sector of the protein alternatives
market.
In the rapidly growing market of protein alternatives, the dry
form segment has emerged as a frontrunner, captivating consumers
and industry players alike with its versatility and convenience.
Dry forms of protein alternatives, such as powders and dehydrated
products derived from plants like soy, peas, or even fungi like
mycoprotein, offer numerous advantages. They are easy to store,
have a longer shelf life, and can be easily incorporated into a
variety of food products, ranging from beverages to baked goods.
This adaptability has fueled their popularity among
health-conscious consumers seeking plant-based options that align
with their dietary preferences without compromising on taste or
nutrition.
Moreover, the dry form segment's prominence in the protein
alternatives market is underscored by its appeal to manufacturers
and retailers. By offering products in dry form, companies can
reduce transportation costs and optimize storage space, making
distribution more efficient. Additionally, these forms often
require less processing and preservation compared to their fresh or
frozen counterparts, aligning with sustainability goals and
reducing environmental impact. As consumer demand for protein
alternatives continues to surge, the dry form segment is poised to
expand further, driving innovation and setting new standards in the
protein alternatives industry.
Plant protein is estimated to be the fastest source segment
in the protein alternatives market during the forecasted period
2024-2029.
Plant protein has rapidly emerged as the frontrunner in the
protein alternatives market, prized for its speed of adoption and
nutritional benefits. With consumers increasingly focused on
health, sustainability, and ethical considerations, plant-based
proteins offer a compelling solution. Unlike traditional
animal-derived proteins, which often come with environmental
concerns and ethical debates, plant proteins are generally more
sustainable to produce and consume.
One of the key reasons for the swift ascent of plant protein in
the market is its versatility. Manufacturers can extract protein
from a wide array of plant sources such as peas, soybeans, hemp,
and even algae, offering a diverse range of products that cater to
different dietary preferences and needs. This diversity fuels
innovation, leading to products that not only match but sometimes
surpass their animal-based counterparts in taste, texture, and
nutritional profile.
Furthermore, plant protein's rapid digestion and absorption rate
make it highly appealing to athletes and health-conscious
individuals seeking efficient protein sources for muscle recovery
and overall wellness. As research continues to highlight the health
benefits of plant-based diets, including reduced risks of chronic
diseases, the popularity of plant protein is expected to continue
its meteoric rise in the protein alternatives market.
Request Sample
Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=233726079
The North American region is projected to dominate the
protein alternatives market.
North America stands as the
dominant region in the protein alternatives market, owing to its
robust infrastructure, technological advancements, and growing
consumer demand for sustainable food sources. This leadership is
underscored by strategic developments such as in January 2022 ADM's (US) collaboration with Innova
Feed (France), aimed at supplying
insect protein for ADM's pet food division while leveraging waste
heat and water resources effectively. This partnership not only
enhances ADM's product offerings but also reinforces sustainability
initiatives in the pet food industry. Similarly, In May 2021, Cargill's (US) strategic partnership
with InnovaFeed (France) focuses
on supplying insect feed for aquaculture and integrating insect oil
into pig feed, addressing the increasing need for innovative
protein sources in animal nutrition. These collaborations highlight
North America's pivotal role in
advancing protein alternatives through strategic alliances that
promote sustainability and technological innovation in the food and
feed sectors.
Key Market Players in this include Tate & Lyle PLC
(London), Kerry Group PLC
(Ireland), DSM Firmenich
(Switzerland, ADM
(US), Cargill Incorporated (US), International Flavors &
Fragrances Inc. (US), Ingredion (US), Roquette Frères (France), Wilmar International Ltd.
(Singapore), Glanbia plc
(Ireland), AGT Food and
Ingredients (Canada), Tate &
Lyle (UK), PURIS (US), Ynsect (France), Global bugs (Thailand), and Innovafeed (France).
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=233726079
Browse Adjacent Reports @ Food and Beverage Market Research
Reports & Consulting
Related Reports:
Pea Protein Market by Type (Isolates, Concentrates and
Textured), Application (Food, Beverages), Form (Dry, Wet), Source
(Chickpeas, Yellow Split Peas, Lentils), Processing Method (Dry,
Wet) and Region - Global Forecast to 2029
Protein Ingredients Market Size, Share, Growth Analysis,
Industry Trends Report by Source (Animal, Plant, Insect, and
Microbial), Form (Dry and Liquid), Application (Food &
Beverages, Feed, Cosmetics & Personal Care Products, and
Pharmaceuticals), and Region - Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or
follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight:
https://www.marketsandmarkets.com/ResearchInsight/alternative-protein-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source:
https://www.marketsandmarkets.com/PressReleases/alternative-protein.asp
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/protein-alternatives-market-worth-25-2-billion-by-2029--exclusive-report-by-marketsandmarkets-302186658.html
SOURCE MarketsandMarkets