Protein Alternatives Market By Segments, Key Leaders, Industry Demand And Forecast 2031

Global 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.

Due to the rise in demand for edible insects, the cigarette protein alternative industry is anticipated to experience significant expansion. The market for protein alternatives is expanding as a result of rise in income levels and urbanization increase in awareness among consumers regarding the harmful health effects of meat & meat products. Furthermore, the growth of the protein alternatives market is greatly influenced by the growth in R&D in food technology and the regular launch of the new product.

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Protein alternative product demand is projected to be fueled by an increase in the consumption of clean proteins as well as by growth in consumer awareness and adoption of proteins from sustainably derived sources. Consumer awareness of the value of clean protein in a daily diet for sustaining energy and managing weight is expected to have a beneficial effect on the protein alternatives market growth.

The protein alternatives have several health advantages, including improving the nutritional makeup of the body and boosting the immune system, which is projected to foster the growth of the market for protein replacements in food applications and promote protein alternatives market demand. The protein alternatives market analysis shows high growth potential in Asia-Pacific and LAMEA, owing to rise in consumer disposable income. Moreover, compared to protein from animal sources, protein alternatives are high in critical elements and fiber and low in fat and calories. Thus, rise in health consciousness and awareness of protein-rich diets are the factors projected to fuel the demand for protein alternatives for culinary applications throughout Asia-Pacific in the future. Moreover, the market participants are expected to introduce cutting-edge protein alternatives market trends in Asia-Pacific, which offers prospective protein alternatives market opportunities.

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In 2021, North America accounted for 41.5% share in the global protein alternatives market and is expected to maintain its dominance 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.

The major players analyzed for the global Protein alternatives industry are Armstrong Cricket Farm Georgia, Aspire Food Group, Axiom Foods Inc, Burcon NutraScience Corporation, Enterra Feed Corporation, Entomo Farms, Glanbia PLC, Now Foods, Pond Technologies Holdings Inc, Protix B.V, Archer Daniels Midland Company. Bluebiotech International GmbH, Calysta, Inc., Cargill, Incorporated, Cellena Inc., JR Unique Foods Ltd., Kerry Group Plc, Plantible Foods, Inc., Roquette Frères, String Bio, MycoTechnology, Inc, Farbest Brands.

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