Global Alternative Protein Market to Reach USD 142.48 Billion by 2028

Global alternative protein market is valued at USD 50.75 billion in 2021, and it is anticipated to attain a value of USD 142.48 billion by 2028, at a CAGR of 15.89% over the forecast period (2022-2028).

People are becoming more interested in alternative protein options because they believe that they are healthier than the traditional meats and poultry that are available. Alternative proteins include plant-based meats, seafood, eggs, and dairy products. These foods have been shown to have fewer health risks than traditional meats and poultry, compelling alternative protein markets to flourish. They also cost less and require less time to cook. Alternative protein is becoming more popular because they're environmentally friendly as well. Meat production is one of the leading causes of climate change. On the contrary, production of plant-based proteins uses less land, water, and energy than meat production.

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Key Trends in Alternative Protein Market
Alternative protein is becoming more prevalent in the food industry. With a growing interest in sustainable, ethical and healthy eating, this trend is likely to continue. Here are some of the key trends in alternative protein:
1. Increased use of plant-based proteins: This is likely due to concerns about the environmental impact of livestock production, as well as health concerns about meat consumption. Plant-based alternatives are becoming increasingly popular, with companies such as Beyond Meat and Quorn producing products that mimic the taste and texture of meat.

2. Increased focus on sustainability: Many players in the global alternative protein market extract products from plants that have been sustainably sourced. This minimizes the environmental impact of production, while also improving the quality of the product.

3. Increased focus on health benefits: Alternative proteins are often seen as a healthier option than meat products. They contain fewer calories and fat, and some have been shown to have therapeutic benefits for people with certain health conditions.

Food and Beverage Industry is the Largest Consumer in Global Alternative Protein Market
Currently, the food and beverage industry is facing a lot of challenges. One of the most pressing issues is the increasing prevalence of obesity across the globe. It's no secret that food and beverages are major contributors to this problem.

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Because of this, many companies in the alternative protein market are looking for ways to curb their intake of harmful substances and improve the market revenue. One potential solution is to replace traditional ingredients with protein alternatives. Protein alternatives have a number of benefits for the food and beverage industry. For one, they're not as harmful as traditional ingredients. This means that they won't cause weight gain or other health problems. Moreover, they don't contain any additives or preservatives, which makes them affordable and easier to source. In addition, protein alternatives are versatile and can be used in a variety of products. This makes them an ideal choice for foods that need to be high in protein but low in sugar or salt.

North America to Continue Leading Global Alternative Protein Market
North America alternative protein market is expected to grow at a CAGR of 12.4% during the period 2012-2028. The growth is attributed to the increasing prevalence of plant-based diets and rising consumer awareness about the benefits of plant proteins.

Alternative protein is a category of food that includes meat, poultry, fish, eggs, soy and dairy alternatives. Alternative protein is becoming more popular in the US because it is seen as a healthier option for those who are looking to reduce their intake of animal-based products.

One of the main reasons why US consumers are interested in the alternative protein market is because they are concerned about the health impacts of eating meat and poultry. The livestock industries are one of the leading contributors to greenhouse gas emissions, and alternative proteins can help to reduce those emissions. Alternative proteins also provide a number of nutrients that are not typically found in meat or poultry. Some examples of these nutrients include iron, zinc, and omega-3 fatty acids.

The key players in the US alternative protein market are plant-based meat producers such as Beyond Meat, Field Roast, Impossible Foods, and Mercy For Animals, dairy alternatives producers like Ripple Foods, coconut milk producers such as So Delicious Dairy Free, and gluten-free food brands like Gluten Free Zone

Some of the key opportunities for alternative protein market include increasing demand from vegan and vegetarian consumers, growing interest in products that are sustainable and have minimal environmental impact, rising concerns about animal welfare and Factory farming is one of the key challenges for alternative proteins as it is difficult to replicate the manufacturing process used in traditional livestock production

Some of the key benefits of consuming plant-based proteins include lower levels of fat, cholesterol, and saturated fat; lower calorie intake; reduced risk of chronic diseases such as obesity and diabetes; and positive impact on environment.

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Recent Investment in Alternative Protein Market
More than 20 laboratories in Israel are engaged in production and development of alternative protein. In last two years, more than $114 million have invested by 8 Israeli companies to cater the demand for rising Kosher food and innovate and perform technological developments.

Nature's Fynd, one of the emerging players in the US alternative protein market, secured funding of $80 million from Energy Ventures. The company has so far succeeded in raising $500 million. It majorly produces plant-based protein from fungi.

In 2021, Bill Gate invest undisclosed amount in the US based start up called Beyond Meat. The company has secured over $128 million in fundings. It has become highly successful in landing high profile clientele in its kitty namely KFC, Pizza Hut, and McDonald's, among others.

Top Players in Global Alternative Protein Market
Archer Daniels Midland Company (US)
Cargill Inc. (US)
Roquette Frères (France)
Ingredion Incorporated (US)
Kerry Group (Ireland)
International Flavors & Fragrances, Inc. (IFF) (US)
Now Foods (US)
Tate & Lyle Plc (U.K.)
Axiom Foods Inc. (US)
Burcon NutraScience Corporation (Canada)
Beneo GmbH (A Part of Südzucker AG) (Germany)
Glanbia Plc (Ireland)
Sotexpro (France)
Farbest-Tallman Foods Corporation (US)
CHS Inc. (US)
Ÿnsect (SAS) (France)
Enterra Feed Corporation (Canada)
Protix B.V. (Netherlands)
Entomo Farms (Canada)

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This release was published on openPR.