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Alternative Protein Market Size
- Report ID: GMI5289
- Published Date: Jul 2022
- Report Format: PDF
Alternative Protein Market Size
Alternative Protein Market size exceeded USD 60.45 billion in 2021 and is estimated to grow at over 18.5% CAGR between 2022 and 2028 owing to the increasing concern towards pet health, feed manufactures are coming up with the feed products with high nutritional value.
Alternative proteins are non-meat proteins that are obtained from various sources such as plants, fungi, and insects. Proteins sourced from insects, plants, and microbials are widely used to replace conventional animal-based proteins. Alternative proteins are used in dairy-free and meat-free diets such as meat analogs and various animal feed products. Consumer interest in health, ethical considerations, and minimal intake of protein calories are a few factors which is expected to boost the demand for alternative proteins.
Consumers are becoming aware of the importance of clean protein in their daily diet for energy and weight management which is anticipated to positively impact the alternative protein market growth. Surge in clean protein consumption along with increased awareness and adoption of sustainably sourced proteins by consumers is likely to fuel product demand. The alternative protein provides several health benefits such as increasing the nutritional constitution of the body and strengthening the immune system which should proliferate alternative protein market for food application which should favour market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Alternative Protein Market Size in 2021: | 60.45 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 18.5% |
| 2028 Value Projection: | 193.75 Billion (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 540 |
| Tables, Charts & Figures: | 761 |
| Segments covered: | Source, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Alternative protein plays a vital role in livestock sector as it is used in feed of various animals such as poultry, swine, cattle, aquaculture, pet food, and equine. Alternative protein is a key source for animal feed application owing to high composition of amino acids and vitamins of plant-based proteins. There is a higher need for alternative protein sources for animal feed applications due to greater emphasis on lowering the overall cost of feed which is expected to drive the alternative protein market share.
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Alternative Protein Market Scope
