Global North America and Europe Alternative Protein Market Reach at Least USD 160.3 Billion By 2028: Zion Market Research
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- Zion Market Research study, Alternative Protein industry accrued revenue worth nearly US$ 53.1 billion in 2021 and is anticipated to gain returns about US$ 160.3 billion by 2028. Additionally, Alternative Protein market is prognosis to record CAGR of almost 17.6% in 2022-2028.
Read Market Research Report "Alternative Protein Market- By Application (Beverages, Cereals, Snacks, Meat Analogues, And Bakery Items) And By Source (Microbial-Based, Insect-Based, And Plant-Based): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028."
Growth of alternative protein market over forecast timespan can be ascribed to a prominent increase in health-conscious customers across globe. In addition to this, massive acceptance of healthy lifestyles due to surge in lifestyle related ailments will prop up scope of growth of alternative protein business. Apparently, inflation in populace having lactose intolerance and rise in intake of plant-based diet will proliferate size of growth of alternative protein industry in years to come. Escalating popularity of functional foods including bakery items, cereals & snacks, dairy items, and functional drinks will open new horizons of expansion for alternative protein industry space in forthcoming years. Need for sustainable food alternatives will boost industry trends.
Meat Analogues To Lead Application Segment Over 2022-2028:
Segmental expansion over forecast timespan can be credited to surge in demand for meat analogues due to its high alternative protein content. Rise in animal welfare trends witnessed across globe will further contribute towards growth of segment in coming years. Rise in occurrence of diabetes and cancer as well as other health problems has resulted in reduction in animal product consumption and rise in meat analogues intake, thereby driving segment surge.
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Plant-Based Source Segment To Make Notable Contributions towards Market Size By 2028
Progression of segment in upcoming years can be credited to rise in awareness about consuming unhealthy & non-nutritive diet as well as benefits derived through protein-rich diet. Rise in vegan population across globe preferring plant-based diet will enhance demand for plant-based alternative protein leading to segmental surge. Rise in lactose intolerance as well as intolerance for animal protein & food will boost segmental growth trends. Massive necessity of healthy & suitable and disciplined lifestyle among individuals will prop up popularity & penetration of plant-based foods across globe.
North American Market To Register Substantial Growth Over 2022-2028
Expansion of alternative protein market in North America in forecasting years is due to rise in vegan and vegetarian population in countries such as the U.S. Additionally, rise in health consciousness among the population of Canada and the U.S. will drive regional market trends. In addition to this, presence of giant players in the sub-continent will create new growth avenues for alternative protein market in North America over upcoming years.
Report Scope:
Report Attribute |
Details |
Market size value in 2021 |
USD 53.1 Billion |
Revenue forecast in 2028 |
USD 160.3 Billion |
Growth Rate |
CAGR of almost 17.6% 2022-2028 |
Base Year |
2020 |
Historic Years |
2016 - 2021 |
Forecast Years |
2022 - 2028 |
Segments Covered |
By Product Type, By Application, and By End Use |
Forecast Units |
Value (USD Billion), and Volume (Units) |
Quantitative Units |
Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered |
Kerry Group plc, Corbion Biotech, Inc., Roquette Freres, Ingredion Incorporated, Protix, Entocycle, MGP Ingredients, Inc., Glanbia plc, DuPont, and ADM Company. |
Report Coverage |
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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The global Alternative Protein Market is segmented as follows:
Alternative Protein Market By Application Outlook (2022-2028)
- Beverages
- Bakery Items
- Cereals
- Snacks
- Meat Analogues
Alternative Protein Market By Source Outlook (2022-2028)
- Microbial-Based
- Insect-Based
- Plant-Based
Alternative Protein Market By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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List of Key Players of Legal Marijuana Market:
- Kerry Group plc
- Corbion Biotech Inc.
- Roquette Freres
- Ingredion Incorporated
- Protix
- Entocycle
- MGP Ingredients Inc.
- Glanbia plc
- DuPont
- ADM Company.
Press Release for Alternative Protein Market: https://www.zionmarketresearch.com/news/alternative-protein-market
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