Alternative Protein Market Growth, Trends, and Forecast by 2031

MARKET OVERVIEW

Alternative Protein is basically referred to the proteins that are derived from algae, plant, and insects. They provide a substantial amount of protein as well as requires fewer natural inputs which is required to produce the common sources of protein such as fish and meat. Protein is mostly responsible for building lean body tissue and providing the elements needed for digestive enzymes.

MARKET SCOPE

The "Global Alternative Protein Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the alternative protein market with detailed market segmentation by source, application, and geography. The report provides key statistics on the market status of the leading alternative protein market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on source, the global alternative protein market is segmented into plant, microbial and insects.
  
•   Based on application, the market is bifurcated into food and beverages, animal feed, nutraceuticals, and others.
  

MARKET DYNAMICS

Drivers

•   The sift in the consumer preference towards veganism as well as healthy lifestyle will lead to an increase demand for plant-based protein and will drive the growth of alternative protein market.
  
•   The increasing incidence of intolerance faced by the animals has also led to an increase demand for alternative protein across the world.
  

Restraints

•   The lack of consumer awareness cross the world will hamper the alternative protein market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The alternative protein market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the alternative protein market in these regions.

IMPACT OF COVID-19 ON ALTERNATIVE PROTEIN MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries such as the food and beverages industry in various countries due to lockdowns, travel bans, and business shutdowns. The demand for alternative protein market has had a positive impact from the pandemic. The consumers are shifting from animal-based protein to plant-based protein which will drive the growth of alternative protein market. As the consumers are focusing on healthy lifestyle due to COVID, the demand for alternative protein product will rise due to the health benefits provided by the products. In Spain, consumers are increasingly adopting plant-based protein which is going to have a positive impact on alternative protein market.

MARKET PLAYERS

The report covers key developments in the alternative protein market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from alternative protein market are anticipated to lucrative growth opportunities in the future with the rising demand for alternative protein in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the alternative protein market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ADM
  
•   Corbion Biotech, Inc.
  
•   DuPont
  
•   Entocycle
  
•   Glanbia plc
  
•   Ingredion
  
•   Kerry
  
•   MGP Ingredients Inc
  
•   Protix
  
•   Roquette Freres
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Alternative Protein Report Scope