Alternative Protein Market for Food Application Size By Source (Plant-based, Insect-based, Microbial-based {Bacteria, Yeast, Algae}), By Application (Meat Analogs, Bakery, Dairy Alternatives, Cereals & Snacks, Beverages) Industry Analysis Report, Regional Outlook, Growth Potential, Application Potential, Price Trend, Competitive Market 2021- 2027

Published Date: Sep 2021  |  Report ID: GMI5125  |  Authors: Kunal Ahuja, Sarita Bayas

Report Format: PDF   |   Pages: 295   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Alternative Protein Market for Food Application size exceeded USD 50 billion in 2020 and is estimated to grow at over 17.5% CAGR between 2021 and 2027. The rise in the number of health-conscious customers across the globe coupled with increasing adoption of healthy and active lifestyle owing to increasing risks of lifestyle diseases is driving the demand for healthier food options, thereby accelerating the growth of the alternative protein industry for food application.
 

Global Alternative Protein Market for Food Application

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Moreover, rise in population with lactose intolerance and the growing adoption of plant-based food & beverages among the health-conscious consumers will provide a huge market opportunity for alternative protein manufacturers operating globally. Also, the growing demand for functional food products, such as bakery, dairy alternatives, cereals & snacks, and functional beverages, will further drive the demand for alternative protein as they are extensively used in functional food products to enhance the protein content.
 

Increasing concerns about the environment, recent climatic changes, and other environment issues, such as global warming and carbon emission, have led consumers to shift to sustainable food options. These factors have resulted in high demand for plant-based food products as an alternative to animal-based food products. This trend is likely to support the growth of alternative protein market for food application over the projected timeframe.
 

Growing vegan population is projected to accelerate the demand for plant-based alternative protein

Plant-based Alternative Protein Market for Food Application

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The plant-based source segment of the alternative protein market for food application surpassed USD 35 billion in 2020 and is projected to grow at 17.5% CAGR from 2021 to 2027. The growing prevalence of lifestyle and chronic disorders due to unhealthy eating habits has led to a shift of consumers to plant-based or vegan food diets to maintain a healthy lifestyle, accelerating the demand for alternatives over the projected period. Other factors, such as increasing incidences of intolerance for animal protein and rising prevalence of lactose intolerance, have led to a rising number of vegan populations, surging demand for plant-based alternative protein products. 
 

Rising awareness toward environmental sustainability and animal welfare will drive the demand for alternative protein from meat analogs application

Alternative Protein Market for Food Application Size, For Meat Analogs Application

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The meat analogs application segment of the alternative protein market for food application should surpass USD 40 billion by 2027. Factors, such as growing risks of animal-borne diseases associated with meat products and growing prevalence of health disorders owing to high consumption of meat and meat products, have shifted health-conscious consumers toward meat analogs, thereby driving the demand for alternative protein. Moreover, the meat analog demand has increased over the past few years owing to the surging demand from the foodservice sector and large-scale food joints, thereby driving the demand for alternative protein.
 

Growing consumers focus on personal health, increasing awareness about the impact of commercial meat production on environment, and growing concerns toward animal welfare should accelerate the demand for meat analogs, thus driving the demand for alternative protein. The adoption of vegetarian diet is increasing across the world due to the rising incidences of cancer, diabetes, and other health disorders, reducing the demand and consumption of animal protein products and increasing the demand for substitute products such as meat analogs. This, in turn, will increase the need for alternative protein products.
 

Rising consumer awareness about the health benefits offered by alternative protein will support Asia Pacific alternative protein market for food application

Asia Pacific Alternative Protein Market for Food Application

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The Asia Pacific alternative protein market surpassed USD 24.5 billion in 2020 and is projected to grow at over 18.5% CAGR from 2021 to 2027. Alternative proteins are low in fat & calories and rich in essential nutrients & fiber as compared to protein derived from animal sources Thus, increasing protein-rich diet awareness along with growing health consciousness are anticipated to drive the demand for alternative protein for food application across Asia Pacific in the future.
 

The alternative protein industry for food application in the Asia Pacific region is growing at a faster pace owing to increasing spending of consumers on healthy and protein-fortified products, which, in turn, is likely to boost the demand for alternative protein. Increasing focus on active & healthy lifestyles and exercise is becoming a major part of consumers’ lives in the Asia Pacific region. This has further boosted the sale of human nutrition supplement, in turn, propelling the demand for alternative protein for food application in the region.
 

Strategic mergers & acquisitions, collaborations, and partnerships among industry participants to accelerate alternative protein market growth

The global alternative protein market for food application is highly fragmented with the presence of numerous multinational corporations and regional players. Some of the key players include Archer Daniels Midland Company, Cargill Ingredion, Kerry Group, DSM NV, and Scoular Company. Industry players are implementing various strategies including mergers & acquisitions, new product launches, partnerships, investments in research & development, and collaborations to increase market share and to tap the growth opportunities in the market.
 

For instance, in April 2021, Archer Daniels Midland announced the opening of a new and innovation research lab in Singapore that will be completely dedicated to research on plant-based protein. The new lab will help the company to increase the commercial manufacturing of alternative protein and meet the growing demand from the food & beverage sector in the Asia Pacific region.
 

Likewise, in April 2021, Cargill invested in a start-up, Bflike created by BOX NV, which is a new technology leader in the rapidly evolving fish and meat alternatives categories. The partnership agreement combines Bflike’s technology and recipes with Cargill’s food ingredient solutions to provide retailers and food manufacturers the opportunity to bring tasty and affordable plant-based products to the market.
 

Global alternative protein market for food application research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons, and revenue in USD Million from 2016 to 2027 for the following segments:

By Source

  • Plant-based
  • Insect-based
  • Microbial-based
    • Bacteria
    • Yeast
    • Algae
    • Others

By Application

  • Meat analogs
  • Bakery
  • Dairy alternatives
  • Cereals & snacks
  • Beverages
  • Others

By Region

  • North America 
    • U.S
    • Canada
    • Mexico 
  • Europe 
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific 
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Thailand
  • Latin America 
    • Brazil
  • Middle East and Africa 
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

The alternative protein market for food application share surpassed USD 50 billion in 2020 and will expand at a CAGR of 17.5% through 2027 with rising adoption of healthy and active lifestyle.
Alternative proteins are significant in functional food products such as cereals & snacks, bakery, functional beverages, and dairy alternatives for enhancing their protein content.
The market revenue from plant-based source will escalate at a CAGR of 17.5% up to 2027 driven by unhealthy eating habits and the increasing prevalence of lifestyle and chronic disorders.
The Asia Pacific alternative protein industry for food application will rise at a CAGR of 18.5% through 2027 owing to the low fat and calorie content of alternative proteins and rising health consciousness in the region.

Premium Report Details

  • Published Date: Sep 2021
  • Pages: 295
  • Tables: 232
  • Charts / Figures: 39
  • Companies covered: 19
  • Countries covered: 5

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