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Protein Alternatives Market
The rising emphasis on plant-based proteins among health-conscious consumers has led to increased demand for protein alternatives.
Protein alternatives are being increasingly used in animal feed as they offer an eco-friendly and economical solution to regular animal feed ingredients.” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, October 28, 2024 /EINPresswire / -- Our research report on protein alternatives has been prepared using advanced methodologies and research techniques to help businesses make strategic business decisions.
The latest research study by Polaris Market Research reveals that the market for protein alternatives is on a growth trajectory. The protein alternatives market size, valued at USD 14.95 billion in 2023, is poised to reach USD 29.63 billion by 2032. The market is anticipated to exhibit a CAGR of 7.9% from 2024 to 2032.
Market Introduction:
Protein alternatives are plant-based and food-technology substitutes for animal-based protein. Protein-rich plants such as almonds, peas, and soybeans have been traditionally used as alternatives to meat and other animal products. However, the term“protein alternatives” can also encompass more contemporary developments replicating conventionally animal-based foods such as dairy, eggs, and various meat types. These include Greek yogurt, hemp, mycoprotein, and cultured meat, among others.
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Plant-based protein alternatives are rich in vitamins, minerals, and antioxidants and can reduce the risk of various chronic conditions. Also, they are more efficient and sustainable as compared to conventional protein sources such as fish and meat. Besides, they have the potential to free up land and ocean ecosystems for biodiversity restoration. With more health-conscious consumers opting for plant-based products to keep up with their dietary guidelines, the protein alternatives market demand is anticipated to rise.
Key Report Highlights:
.The protein alternatives market size was valued at USD 14.95 billion in 2023 and is projected to grow to USD 29.63 billion by 2032.
.The expansion of production facilities by key market players facilitates increased production capacity and is driving innovation in protein alternatives.
.The market is primarily segmented based on source, application, and region.
.The key regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Top Market Players:
The market is characterized by intense competition with the presence of several key participants. These players focus on robust R&D capabilities and advanced manufacturing capabilities to improve their product offerings and expand their global reach.
The protein alternatives market key players include:
.ADM
.Bunge
.Cargill, Incorporated
.DSM
.Emsland Group
.Ingredion
.International Flavors & Fragrances Inc.
.Kerry Group plc.
.LightLife Foods Inc.
.Nestlé
.Tate & Lyle
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Market Drivers and Opportunities:
.Innovative Product Launches: Companies are introducing new formulations and advanced technologies to develop a wider variety of protein alternatives that cater to both existing customers and new buyers. The increasing product launches are driving consumer adoption, thereby contributing to the protein alternatives market growth.
.Government Investments: Growing investments by governments worldwide are providing the essential resources and financial support for the development and commercialization of innovative products. Also, these investments boost the availability of protein alternatives and encourage the adoption of sustainable practices in the food sector.
.Expansion of Production Capacity: Several major protein alternative companies are expanding their production plants, resulting in increased production capacity and innovation. This, in turn, is having a favorable impact on the protein alternatives market demand.
Regional Analysis:
North America accounted for the largest revenue share of the market. The robust market growth in the region is primarily fueled by the significant shift towards veganism and plant-based diets. The shift reflects the rising consumer awareness and increased demand for diverse and high-quality protein alternatives in North America.
Asia Pacific is anticipated to exhibit a significant CAGR in the protein alternatives market from 2024 to 2032. The region's growth is fueled by the surge in investment and innovation in the region. Also, technological advancements and strategic investments are projected to drive significant growth in Asia Pacific.
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Market Segmentation:
By Source Outlook:
.Plant Proteins
.Cereals
oWheat
HMEC/HMMA Wheat Protein
Hydrolyzed Wheat Protein
Textured Wheat Protein
Wheat Protein Concentrates
Wheat Protein Isolates
oRice
Hydrolyzed Rice Protein
Rice Protein Concentrates
Rice Protein Isolates
Others
oOats
Hydrolyzed Oat Protein
Oat Protein Concentrates
Oat Protein Isolates
Others
.Legumes
oSoy
HMEC/HMMA Soy Protein
Hydrolyzed Soy Protein
Soy Protein Concentrates
Soy Protein Isolates
Textured Soy Protein
oPea
HMEC/HMMA Pea Protein
Hydrolyzed Pea Protein
Pea Protein Concentrates
Pea Protein Isolates
Textured Pea Protein
oLupine
oChickpea
oOthers
.Roots
oPotato
Potato Protein Concentrate
Potato Protein Isolate
oMaca
oOthers
.Ancient Grains
oAmaranth
oAncient Wheat
oChia
oMillet
oQuinoa
oSorghum
oOthers
.Nuts & Seeds
oCanola
Canola Protein Isolates
Hydrolyzed Canola Protein
Others
oAlmond
oFlaxseeds
oOthers
.Microbe-based Protein
.Algae
.Bacteria
.Fungi
.Yeast
.Insect Protein
.Coleoptera
.Diptera
.Hemiptera
.Hymenoptera
.Lepidoptera
.Orthoptera
.Others
By Application Outlook:
.Food & Beverages
oBakery & Confectionary
oBeverages
oBreakfast Cereals
oDairy Alternatives (cheese, desserts, snacks, others)
oDietary Supplements/Weight Management
oMeat Alternatives & Extenders
oSnacks
oSports Nutrition
oOthers
.Animal Feed
.Clinical Nutrition
.Infant Formulations
.Others
By Regional Outlook:
.North America
oUS
oCanada
.Europe
oGermany
oFrance
oUK
oItaly
oSpain
oNetherlands
oRussia
oRest of Europe
.Asia Pacific
oChina
oJapan
oIndia
oMalaysia
oSouth Korea
oIndonesia
oAustralia
oRest of Asia Pacific
.Middle East & Africa
oSaudi Arabia
oUAE
oIsrael
oSouth Africa
oRest of Middle East & Africa
.Latin America
oMexico
oBrazil
oArgentina
oRest of Latin America
Browse PMR's Protein Alternatives Market Report Coverage from Different Publications:
The global protein alternatives market size is expected to reach USD 29.63 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+ + 1 929-297-9727
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