Global Alternative Protein Market Analysis Report 2023-2030: Food Tech Innovations Drive Advancements, Edible Insects Gaining Popularity and Acceptance

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Jan 17, 2024, 19:15 ET

DUBLIN, Jan. 17, 2024 /PRNewswire/ -- The "Alternative Protein Market by Type, Application, and Geography - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

Global alternative proteins market is projected to reach $40.7 billion by 2030, at a CAGR of 13.0% during the forecast period 2023-2030

The growth of this market is driven by rapid urbanization and growing consumer aspirations, increasing venture investments in the alternative proteins industry, innovations in food technologies, the high nutritional value of edible insects, and the environmental sustainability of alternative protein production and consumption.

However, the higher costs of alternative proteins compared to conventional proteins and consumers' high preference for animal-based products restrain the growth of this market. Furthermore, consumers' increasing inclination toward plant-based foods is expected to generate growth opportunities for the players operating in the alternative proteins market.

Asia-Pacific is slated to register the highest CAGR during the forecast period, mainly due to the increasing awareness regarding the importance of protein-rich diets, the increasing technological advancements in the food & beverages industry, the fast-growing economy, and the wide availability of raw materials.

In 2023, the plant proteins segment is expected to account for the largest share of the alternative proteins market.

The large share of this market is mainly attributed to the growing demand from food & beverage manufacturers, the huge availability of raw materials for processing, and lower cost than other alternative proteins. However, the insect proteins segment is expected to grow at the highest CAGR during the forecast period of 2023-2030. The high growth rate of this segment is mainly driven by the growing demand for environmentally friendly protein-rich food and the rising investments in edible insect farming.

In 2023, the plant protein-based applications segment is expected to account for the largest share of the alternative proteins market.

The large share of this segment is attributed to the growing vegetarian and vegan population, consumers' rising demand for clean-label products, and the increasing investments and expansions by plant-based product manufacturers. However, the insect protein-based applications segment is expected to record the highest CAGR during the forecast period.

In 2023, the food & beverage segment is expected to account for the largest share of the global insect proteins market.

The large share of this segment is driven by the growing food shortage worldwide, the increasing consumption of processed whole insects as food, and the rising demand for high-quality alternative protein and amino acid sources among end users.

Key Questions Answered in the Report:

What is the current revenue generated by alternative proteins globally?
At what rate is the global alternative proteins demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the global alternative proteins market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of type and applications are expected to create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global alternative proteins market?
Who are the major players in the global alternative proteins market? What are their specific product offerings in this market?
What are the recent strategic developments in the global alternative proteins market? What are the impacts of these strategic developments on the market?

Factors Affecting Market Growth

Rapid Urbanization and Growing Consumer Aspirations Driving the Demand for Alternative Proteins
Increasing Venture Investments Boosting the Production of Alternative Proteins
Innovations In Food Technologies Supporting the Growth of the Alternative Proteins Market
High Nutritional Value Driving the Consumption of Edible Insects
Increasing Focus On Environmental Sustainability Driving the Production and Consumption of Alternative Proteins
High Costs Impacting the Adoption of Alternative Proteins
Consumer Preference for Animal-Based Products Hampering Market Growth
Consumers' Increasing Inclination Toward Plant-Based Diets Positively Influencing the Demand for Alternative Proteins

Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

Archer-Daniels-Midland Company (U.S.)
Cargill Incorporated (U.S.)
Roquette Freres (France)
Ingredion Incorporated (U.S.)
Kerry Group plc (Ireland)
International Flavors & Fragrances Inc. (IFF) (U.S.)
Now Health Group Inc. (U.S.)
Tate & Lyle Plc (U.K.)
Axiom Foods Inc. (U.S.)
Burcon NutraScience Corporation (Canada)
BENEO GmbH (A Part of Sudzucker AG) (Germany)
Glanbia Plc (Ireland)
Sotexpro (France)
Farbest-Tallman Foods Corporation (U.S.)
CHS Inc. (U.S.)
Ynsect (SAS) (France)
Enterra Feed Corporation (Canada)
Protix B.V. (Netherlands)
Entomo Farms (Canada)
Global Bugs Asia Co. Ltd. (Thailand)
Aspire Food Group (U.S.)
EnviroFlight LLC (U.S.)
Haocheng Mealworm Inc. (China)
JR Unique Foods Ltd. (Thailand)
Armstrong Cricket Farm Georgia (U.S.)
Rocky Mountain Micro Ranch (U.S.)
Cricket Lab Limited (U.K.)
DIC Corporation (Japan)
Cellena Inc. (U.S.)
Taiwan Chlorella Manufacturing Company (Taiwan)
Cyanotech Corporation (U.S.)
Bluebiotech International GmbH (Germany)
Pond Technologies Holdings Inc. (Canada)
E.I.D.-Parry (India) Limited (India)
Tianjin Norland Biotech Co. Ltd. (China)
MycoTechnology Inc. (U.S.)
Enough. (U.K.)
Corbion NV (Netherlands)
Sun Chlorella Corporation (Japan)
Plantible Foods Inc. (U.S.)
Parabel Nutritional Inc. (U.S.)
Far East Bio-Tec Co. Ltd. (Taiwan)
Far East Microalgae Industries
Co. Ltd. (Taiwan)
Roquette Klotze Gmbh & Co. Kg (Germany)
Yaeyama Shokusan Co. Ltd. (Japan)
Unibio Group (Denmark)
String Bio (India)
Calysta Inc. (U.S.)
Angel Yeast Co. Ltd (China)
Lesaffre (France)

Scope of the Report:

Alternative Proteins Market Assessment - by Type

Plant Proteins
Soy Proteins
Soy Protein Concentrate
Soy Protein Isolate
Textured Soy Protein
Other Soy Proteins
Wheat Proteins
Vital Wheat Gluten
Wheat Protein Isolate
Hydrolyzed Wheat Protein
Textured Wheat Protein
Pea Proteins
Pea Protein Isolate
Pea Protein Concentrate
Textured Pea Protein
Pea Protein Hydrolysate
Pea Flour
Other Pea Proteins
Canola Proteins
Canola Protein Isolate
Canola Protein Concentrate
Other Canola Proteins
Potato Proteins
Potato Protein Concentrate
Potato Protein Isolate
Rice Proteins
Rice Protein Isolate
Rice Protein Concentrate
Rice Protein Hydrolysate
Corn Proteins
Corn Protein Isolate
Corn Protein Concentrate
Corn Protein Hydrolysate
Other Plant Proteins
Insect Proteins
Crickets
Black Soldier Fly
Other Insect Proteins
Microbial Proteins
Algae Proteins
Fungal Proteins
Mycoprotein
Mushroom Protein
Yeast Protein
Bacterial Proteins

Alternative Proteins Market Assessment - by Application

Plant Protein-based Applications
Foods & Beverage
Meat, Poultry, and Seafood
Bakery
Meat Analogs
Dairy Alternatives
Cereals & Snacks
Beverages
Other Food & Beverage Applications
Animal Feed
Nutrition & Health Supplements
Pharmaceuticals
Other Plant Protein-based Applications
Insect Protein-based Applications
Food & Beverage
Processed Whole Insects
Processed Insect Powder
Insect Protein Bars & Shakes
Insect Baked Products & Snacks
Insect Confectioneries
Insect Beverages
Other Food & Beverage Applications
Feed
Animal Feed
Aquaculture Feed
Pet Food
Microbial Protein-based Applications
Nutraceuticals
Food & Beverage
Animal Feed
Cosmetics
Other Microbial Protein-based Applications

Alternative Proteins Market Assessment - by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Ecuador
Rest of Latin America
Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/y4m4xv

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