Home > Pressrelease > Global Alternative Protein Market size worth over USD 193.75 Billion by 2028

Global Alternative Protein Market size worth over USD 193.75 Billion by 2028

  • Published Date: July 18, 2022

According to a new research report by Global Market Insights Inc., Alternative Protein Market size is set to surpass USD 193.75 billion by the end of 2028.

Plant based proteins are environment friendly, more nutritious, healthy, and easy to digest. Plant based protein includes soy protein concentrates, duckweed protein, soy protein isolates, fermented soy protein, and others. Insect protein can be used as a part of daily food intake as insects are the major source of essential fats, vitamins, minerals such as iron and calcium. Insect-based proteins are obtained from edible insects which are safe for protein production.

Locusts, meal worms, black soldier fly and crickets are mostly used insects for protein production. Microbial proteins provide a feasible and healthy alternative to long-established animal and plant-based proteins. Microbial protein is fabricated from microbial cell culture, such as algae, yeast, and bacteria. It is alternative inception of high?quality protein that can substitute animal protein, such as fishmeal in aquaculture feed, livestock feed, and nutrition.

Rapid movement toward sustainability along with a focus on animal welfare is driving the demand for plant-based protein

Global plant-based alternative protein market is likely to surpass USD 139.15 billion in 2028. The increasing consumer inclination toward plant-based diets owing to an array of nutritional benefits is expected to augment the demand for plant-based proteins for a variety of food applications. High-protein sources from plants include lentils, tempeh, nuts, seeds, and quinoa, offering a range of amino acids which are used in a variety of food products.

The plant-based proteins offer a variety of health benefits including weight loss, providing healthy muscles and tissues owing to which they are widely used in food products. Increasing consumer preference toward vegan and vegetarian diets should increase the demand for plant-based protein food products. Also, consumers with flexitarian diets promote the consumption of plant-based proteins due to their high fiber, essential nutrients, and benefits of low fat & calories, which is expected to positively impact the demand for plant-based proteins.

Increasing use of plant-based proteins in meat-free balls, burgers, and sausages along with product use in food & beverages, such as smoothies, puddings, and baked goods with a variety of added flavors, is likely to proliferate the alternative protein demand. Increasing consumer shift toward vegan diets, sustainable sources, and high nutritional diets are a few factors that are expected to create ample opportunities for alternative protein market growth.

Browse key industry insights spread across 540 pages with 704 market data tables and 57 figures & charts from the report, “Alternative Protein Market Size By Source (Plant-Based {Soy Protein Isolates, Soy Protein Concentrates, Fermented Soy Protein, Duckweed Protein}, Insect-Based, Microbial-Based {Bacteria, Yeast, Algae, Fungi}), By Application (Food {Meat Analogs, Bakery, Dairy Alternatives, Cereals & Snacks, Beverages} By Animal Feed (Poultry [Broiler, Layer, Turkey], Swine [Starter, Grower, Sow], Cattle [Dairy, Calf], Aquaculture [Salmon, Trout’s, Shrimps, Carp], Pet Food, Equine), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028in detail along with the table of contents:

Poultry livestock require protein for growth and development which is driving the alternative protein demand for poultry feed application

Poultry animal feed application exceeded USD 1.70 billion in 2021 and is expected to witness growth with a CAGR of over 8%. Protein is required to improve their immune systems and build tissues therefore protein diet is essential for poultry livestock. Alternative proteins offer all essential proteins and other nutritional value, which is required for poultry growth.

The health benefits of the plant-based and insect-based proteins to poultry accelerate the demand for alternative proteins in the poultry segment. Growing consumption of meat & meat products due to rise in protein intake is expected to boost alternative protein market growth. Positive outlook toward the meat processing industry due to consumer demand for processed meat products has fueled the demand for alternative proteins in poultry feed to give them adequate nutrient and protein.

Increasing livestock production along with growing awareness about plant-based meat should drive market growth in Asia Pacific

Asia Pacific alternative protein market is anticipated to cross USD 96.95 billion by end of 2028.Increasing consumer interest in alternative proteins due to product innovations in the food industry is expected to boost business growth in the Asia Pacific region. The Asian population is becoming more familiar with vegan and flexitarian diets; therefore, the lifestyles and consumption trends are changing in these countries.

The rapid shift towards sustainable consumption along with the inclination toward healthy protein sources is likely to fuel market growth. Young generations are more environment-conscious and are focusing on healthier food options. Asia Pacific alternative protein market is likely to show significant growth in the coming timeframe owing to high resource availability, inexpensive labor, and ambient environmental conditions for exponential growth rate in animal feed industry.

Authors: Kunal Ahuja, Sarita Bayas