Alternative Proteins Market Size Envisaged To Reach USD 22.4 Billion, at 4.3% CAGR by 2034: Prophecy Market Insights

“Alternative Protein Market” from 2024-2034 with covered segments By Source (Plant Protein, Mycoprotein, Algal Protein, and Insect Protein); By Application (Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics) and By Regional Forecast, 2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.

Covina, July 11, 2024 (GLOBE NEWSWIRE) — The study concludes that the global alternative protein market size and share is expected to grow at a CAGR of 4.3% between 2024 and 2034. The market revenue of US$ 15.3 Billion in 2024 is expected to grow up to US$ 22.4 Billion by 2034.

Alternative Proteins Market Size Report Overview

Alternative proteins are plant-based and food technological-reviewed alternatives to animal protein. They include food ranging from algae, insects, and fungi in particular, mushrooms to plants, grains, legumes, and nuts, and even cultured meat which is lab-grown.

Alternative proteins are plant-based and food-technological alternatives to animal protein. They include food products stemming from algae, insects, fungi (such as mushrooms), plants (grains, leguminous, nuts), and even cultured that is, lab-grown meat. Tempeh, tofu, Edamame, lentils, chickpeas, hemp hearts, soya milk, and quinoa are some very good sources of plant-based protein.

A growing number of alternative protein technologies, in particular, plant-, cell-, and fermentation-derived protein technology, show promising solutions for food processing applications. Because they do not require antibiotics to make, these proteins play a crucial role in preserving public health by preventing the spread of bacteria resistant to antibiotics. The alternative protein sources include alternative proteins from non-animal sources—for instance, plants, fungi, algae, insects, or cultured animal cells—then consumed as alternative proteins, replacing conventional animal-based proteins used with meat, milk, and eggs.

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Our Free Sample Report includes:

  • Overview & introduction of market study
  • Revenue and CAGR of the market 
  • Drivers & Restrains factors of the market 
  • Major key players in the market 
  • Regional analysis of the market with a detailed graph
  • Detailed segmentation in tabular form of market 
  • Recent developments/news of the market 
  • Opportunities & Challenges of the Market

Some of the Key Market Players:

  • Cargill
  • ADM
  • Roquette Freres
  • Ingredion Incorporated
  • Kerry Group
  • E.I. Dupont De Nemours and Company
  • Now Foods
  • Tate & Lyle Plc
  • Axiom Foods Inc.
  • Burcon NutraScience Corporation
  • Beneo GmbH
  • Glanbia Plc
  • Sotexpro
  • CHS Inc
  • AgriProtein
  • Ynsect
  • Enterra Feed Corporation
  • DuPont

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Market Dynamics:

Key Drivers:

Looking forward to the advanced phase of development

  • The ultimate research goal is alternative proteins that replicate wildlife protein sources in taste, texture, and smell, thereby increasing chain protein sources from seafood from mushrooms to bars full of proteins containing insects. Alternative proteins have less of an ecological imprint compared to traditional meat, and technological advancement is bound to continue the trend of efficiency and sustainability in production. It will likely become more and more accessible and affordable.

Filling the void with improved nutrition

  • Most of the plant-based substitutes contain many vital vitamins and minerals such as zinc, iron, and vitamin B12. In terms of nutritional balance, plant proteins can indeed provide as much balanced nutrition as animal protein sources. Research is underway to give plant proteins an amino acid profile with the necessary amino acids that are missing in them. Another way to get a better protein source is to blend a variety of plant proteins that have complementary amino acid profiles. Newer protein sources under study include fungi, algae, and insects. Fermentation is one of the processes that help cut down on the loss of nutritional content in shotgunned food processing methods.

Market Trends:

Increase in Product Offerings

  • Consumer demand for vegan and dairy-free has been the driver of the rapid growth seen in the global plant-based, grown meat, and fermentation products market. It is beyond the simple Alternate Meat Products like sausages and burgers, and offers a lot more diversity in Plant-Based Protein Products, such as protein bars and snacks formed with insects, eggs, milk alternatives, and even seafood alternatives, in powder form. There are globally inspired flavors for traditional cuisines and adaptability for vegans, and health-conscious consumers seeking better nutritional profiles, among others, in dietary demands and lifestyles that the industry meets.

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Segmentation:

The Alternative Protein Market is segmented based on Source, Application, and Region.

Source Insights

  • A major protein source comes from plant foods, such as grains, peas, nuts, seeds, seitan, tofu, soy, pulses, split peas, lentils, beans, and chickpeas. Another protein-rich fungus type is mycoprotein, extracted from the fungus Fusarium venenatum; it is an important element in meat substitutes. Algal proteins play an important role in people’s food requirements since they are high-protein-content dietary constituents, 40–60% of dry matter, found in blue-green and green algae.

Application Insights

  • There are much better foods made from other proteins today; we have the meat alternatives to restaurants and plant-, mushroom-, and insect-based foodstuffs on the shelves of grocery shops. This, in addition to sports nutrition, soybeans, and rice protein find application in meat extenders and meat substitutes. Protein powders are dietary supplements used to promote weight loss and muscle tone, enzymes, hormones, development of muscles, and repair of tissues. These protein powders are available in either plant- or dairy-based forms.

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Regional Insights

  • North America: North America is in the lead in the alternative protein market. This could be attributed to increased ethical and environmental concerns about animal proteins, a rise in the vegan population, and investment in alternative proteins.
  • Asia Pacific: Due to high production and consumption in Asia, both the level and quality of animal protein intake have risen. The main animal-derived sources there come from beef, dairy, and eggs. Another major source for the huge vegetarian population of Asia is plant-based foods like tofu, tempeh, soy, and seitan-based “mock meats,” which constitute one of the main six cuisines of the continent.

Browse Detail Report on “Alternative Protein Market, By Source (Plant Protein, Mycoprotein, Algal Protein, and Insect Protein); By Application (Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Trends, Analysis, and Forecast till 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/Global-Alternative-Protein-Market-4787

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