Protein Alternatives Market - Growth, Trends, and Forecast (2020 - 2025)

Global Protein Alternatives Market Segmented by Source as Plant Protein, Mycoprotein, Algal Protein, Insect Protein; by Application as Food, Beverage, Dietary Supplements, Feed Industry; Geography

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7.40 %

Major Players:

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Market Overview

Global protein alternatives market is projected to grow with a CAGR of 7.4% during the forecast period (2019-2024).

  • In 2017, North America was the largest geographical segment of the market studied and accounted for a share of around 35.9% of the market.
  • Consumers in developing regions, like Asia-Pacific and Africa, have started to incorporate more protein in their daily diets. Many companies operating in the market place have started to initiate awareness programs and campaigns, which can be directed to make the consumers understand the benefits of alternative proteins and establish popularity among consumers. Given the opportunities in the protein alternatives market, companies are making strategic moves and efforts. For instance, the Aspire Food Group acquired Exo, who makes protein bars from crickets.

 

Scope of the Report

Global protein alternatives market is segmented by source as plant protein, mycoprotein, algal protein, insect protein. by application the market can be segmented as food, beverage, dietary supplements, feed industry. also, by geography, it is segmented as North America, Europe, Asia-Pacific, South America And Middle East, and Africa.

Source Type
Plant Protein
Mycoprotein
Algal Protein
Insect Protein
Application
Food
Beverage
Dietary Supplement
Feed Industry
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia

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Key Market Trends

Increasing Demand for Vegan-Protein

Due to inreasing incidences of intolerance towards animal protein, most of the meat consumers are inclined toward meat substitutes made of vegan protein, therefore driving the plant protein market. According to the United States Center for Disease Control and Prevention, 12.2 million people are suffering from food allergy, of which two-thirds is associated with egg allergy. Also, according to the reference list of allergen data collection, the allergen from chicken meat ranges from 0.5-5% in Southern Europe. Soy protein, pea protein are tthe most common vegan proteins used as an ingredint in processing foods such as baked foods, beverages and dietary supplements.

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North America to dominate the global market

The United States dominates the North American protein alternatives market by more than 60%. While there is still a strong dominance of animal protein among the US population, plant protein, such as soy, lentils, beans, etc., has been gaining high traction from the past few years. This is due to the high penetration of vegan protein-based products in the retail market and increased consumer awareness on the health benefits associated with it, along with weight management. With the existing business opportunities in the protein alternatives market, many companies are strategical, including business expansion plans, specifically in the plant protein category.

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Competitive Landscape

Cargill, ADM, Kerry Group, and DuPont dominate the market with major strategies, such as acquisitions, expansions, and new product launches. Cargill leads the market among the major players in the protein alternatives market. These companies, in order to retain their position within the market or gain an advantage over its competitors, have set their focus on research and development. Along with mergers and product launches to cater to the growing demand for protein alternative products, companies are also coming up with new and innovative product offerings, to gain higher market shares that can be used in many industrial applications, such as food and beverages, dietary supplement, and animal feed.

 

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Market Opportunities

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Source Type

      1. 5.1.1 Plant Protein

      2. 5.1.2 Mycoprotein

      3. 5.1.3 Algal Protein

      4. 5.1.4 Insect Protein

    2. 5.2 Application

      1. 5.2.1 Food

      2. 5.2.2 Beverage

      3. 5.2.3 Dietary Supplement

      4. 5.2.4 Feed Industry

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Spain

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Mergers and Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 MGP Ingredients Inc.

      2. 6.3.2 Kerry Group

      3. 6.3.3 DuPont

      4. 6.3.4 The Archer Daniels Midland Company

      5. 6.3.5 Cargill Incorporated

      6. 6.3.6 Roquette Foods

      7. 6.3.7 Glanbia PLC

      8. 6.3.8 Corbion Biotech Inc.

      9. 6.3.9 Ingredion Incorporated

      10. 6.3.10 Agriprotein Holdings Ltd

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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