Protein Alternatives Market Generating Revenue of $73.9 Billion by 2031, At a Booming 16.2% Growth Rate to 2031

Protein Alternatives Market

Due to the rise in demand for edible insects, the cigarette protein alternative industry is anticipated to experience significant expansion.

PORTLAND, OR, US, September 25, 2023/EINPresswire.com/ — Protein Alternatives Market by Source (Plant Protein, Mycoprotein, Algae Protein, Insect Protein), by Application (Food and Beverages, Dietary replacers, Animal Feed, Others), by Distribution Channel (Hypermarket and Supermarket, Chemist or Drugstore, Specialty Store, Online Store): Global Opportunity Analysis and Industry Forecast, 2021-2031

The protein alternatives market size was valued at $16.6 billion in 2021, and is estimated to reach $73.9 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/11337

The rise in the consumption of clean proteins as well as growing awareness of consumers and adoption of proteins from sustainably derived sources drive the growth of the global protein alternatives market. However, stringent regulatory compliances along with the inability to digest protein restrict the market growth. Moreover, growing R&D in food technology and the regular launch of the new product by key players present new opportunities in the coming years.

On the basis of source, the market is divided into plant protein, mycoprotein, algal protein, and insect protein. The plant protein segment accounted for a major share in the protein alternatives market in 2021 and is expected to grow at a significant CAGR during the forecast period. Global demand for plant-based protein is driven by rise in health consciousness and the significance of plant proteins for a stronger immune system. Consumption of plant-based proteins helps improve digestion and metabolism.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/11337

On the basis of distribution channel, the protein alternatives market is segmented into hypermarkets and supermarkets, chemist or drugstore, specialty store, and online store. The hypermarkets and supermarkets protein alternatives segment accounted for a major share of the market in 2021 and is expected to grow at a significant CAGR during the forecast period. This is attributed to the fact that the hypermarkets and supermarkets usually span over a large area and display a wide range of brands in one particular store. In addition, they are especially located near dietary supplements areas for convenience and easy accessibility.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on application, the food & beverage segment held the highest market share in 2021, accounting for nearly three-fifths of the global protein alternatives market, and is estimated to maintain its leadership status throughout the forecast period. Protein alternatives products, such as insect, plant-based and others, are widely consumed in the food & beverages industry. The large share of this segment is mainly attributed to increase in consumer preference for plant-based food and ingredients, surge in awareness and demand for protein-rich food products, versatile functionality and compatibility of plant-based protein with vegetarian and vegan lifestyles, and surge in adoption of clean-label trends. However, the others segment is projected to manifest the highest CAGR of 18.4% from 2022 to 2031.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Armstrong Cricket Georgia,
Aspire Food Group,
Axiom Foods Inc,
Burcon Nutrascience Corporation,
Entomo Farms,
Glanbia PLC,
Protix B.V,
Archer Daniels Midland Company,
Bluebiotech International GmbH,
Calysta, Inc.,
Cargill,
Incorporated,
Cellena Inc.,
JR Unique Foods Ltd.,
Plantible Foods, Inc.,
Roquette Freres,
String Bio,
Enterra Corporation,
Kerry Group Plc,
MycoTechnology, Inc,
Farbest Brands

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global protein alternatives market, and is likely to dominate the market during the forecast period. Consumers in North America are worried about the additives used in food. In addition, the increased consumer focus on preventive healthcare and the rise in demand for nutrient-dense components propel the sales of alternative protein, particularly in the U.S. and Canada. However, the Asia-Pacific region is expected to witness the fastest CAGR of 16.7% from 2022 to 2031.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/11337

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the protein alternatives market analysis from 2021 to 2031 to identify the prevailing protein alternatives market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the protein alternatives market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Fish Protein Market – https://www.alliedmarketresearch.com/fish-protein-market

Egg Protein Market – https://www.alliedmarketresearch.com/egg-protein-market-A06008

Energy Supplement market – https://www.alliedmarketresearch.com/energy-supplement-market-A16879

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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