Alternative Protein Market worth $10.36 billion by 2030, growing at a CAGR of 7.92% - Exclusive Report by 360iResearch

The "Alternative Protein Market by Source (Insect Protein, Microbial Protein, Plant Protein), Application (Animal Feed, Food, Nutraceuticals) - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Alternative Protein Market to grow from USD 6.07 billion in 2023 to USD 10.36 billion by 2030, at a CAGR of 7.92%.

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Alternative proteins are food sources used as substitutes for conventional animal protein. These include plant-based proteins, cultured meat, also known as lab-grown or cell-based meat, edible insects, and microbial proteins such as algae and fungi. Alternative protein products have been developed to duplicate traditional animal-based products' texture, taste, and nutritional profile. Changing consumer attitudes and preferences toward meat-free diets creates demand for alternative proteins. In addition, growing health consciousness among consumers worldwide is another critical factor driving the alternative protein market. Many individuals are reducing their intake of animal proteins due to concerns over cholesterol, saturated fats, and the risk of diseases linked to red and processed meats. However, the high cost associated with the alternative protein is a significant challenge the manufacturers face. Companies are constantly focusing on R&D activities to introduce novel and cost-effective alternative proteins for consumers. Moreover, advancements in food technology have been instrumental in the development and popularity of alternative proteins. Techniques such as precision fermentation and cellular agriculture are revolutionizing the field, making it possible to produce proteins that closely mimic animal meat's taste, texture, and nutritional profile.

The Americas, especially the United States and Canada, are significant markets for alternative proteins, characterized by high consumer awareness, willingness to adopt new food innovations, and substantial investment flows. The United States presents a considerable market for alternative protein with a robust startup ecosystem, heavy investment in plant- and cell-based technologies, and a wide range of products available to consumers. On the other hand, Canada's alternative protein market is growing, driven by health and environmental consciousness among consumers, and supported by government funding for research in sustainable food technologies. The EMEA region exhibits diverse consumer behaviors and market maturity levels regarding alternative proteins, with the European Union (EU) witnessing major regulations and product offerings. EU consumers are highly aware of the environmental and health implications of their dietary choices, driving demand for plant-based and lab-grown meat. Recent investments have focused on improving product quality and expanding the range of alternatives available. Moreover, the Asia Pacific region represents a burgeoning and highly dynamic market for alternative meat products, propelled by a growing demographic of environmentally conscious consumers, rising concerns about animal welfare, and increasing awareness of the health benefits associated with plant-based diets. This market has witnessed substantial investment and innovation, expanding the variety and availability of alternative meat products.

Market Segmentation & Coverage:

This research report categorizes the Alternative Protein Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Source, market is studied across Insect Protein, Microbial Protein, and Plant Protein. The Microbial Protein is further studied across Algae, Bacteria, Fungi, and Yeast. The Plant Protein is further studied across Duckweed Protein, Fermented Soy Protein, Soy Protein Concentrates, and Soy Protein Isolates. The Plant Protein is projected to witness significant market share during forecast period.

Based on Application, market is studied across Animal Feed, Food, Nutraceuticals, and Personal Care & Cosmetics. The Animal Feed is further studied across Cattle, Poultry, and Swine. The Food is further studied across Bakery, Beverages, Cereals & Snacks, Dairy Alternatives, and Meat Analogs. The Food is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.09% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Alternative Protein Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Alternative Protein Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Alternative Protein Market, highlighting leading vendors and their innovative profiles. These include Archer-Daniels-Midland Company, Avant Meats, Axiom Foods, Inc., Beneo GmbH, Cargill, Incorporated, Cellana, Inc., Corbion NV, Cyanotech Corporation, DIC Corporation, E.I.D.-Parry (India) Limited, Far East Bio-Tec Co., Ltd., Farbest-Tallman Foods Corporation, Glanbia PLC, Global Bugs Asia Co., Ltd., Growthwell Foods, Impossible Foods Inc., Ingredion Incorporated, International Flavors & Fragrances, Inc., JR Unique Foods Ltd., Kerry Group PLC, Lesaffre, Lightlife Foods, MycoTechnology, Inc., Next Gen Foods Pte. Ltd., NOW Health Group, Inc., Plantible Foods, Inc., Pond Technologies Holdings Inc., Protix B.V., Roquette Frères S.A., Shiok Meats, String Bio, Tate & Lyle PLC, Tianjin Norland Biotech Co., Ltd., TurtleTree Labs Pte. Ltd., and Unibio A/S.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Alternative Protein Market, by Source
7. Alternative Protein Market, by Application
8. Americas Alternative Protein Market
9. Asia-Pacific Alternative Protein Market
10. Europe, Middle East & Africa Alternative Protein Market
11. Competitive Landscape
12. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Alternative Protein Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Alternative Protein Market?
3. What is the competitive strategic window for opportunities in the Alternative Protein Market?
4. What are the technology trends and regulatory frameworks in the Alternative Protein Market?
5. What is the market share of the leading vendors in the Alternative Protein Market?
6. What modes and strategic moves are considered suitable for entering the Alternative Protein Market?

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