The global alternative proteins market size is expected to reach USD 1,48,868 Million in 2030 and register a revenue CAGR of 15.7%, according to the latest report by Reports and Data. Market revenue growth is primarily driven by factors such as increasing investments in the alternative protein sector, advancements in food technology, and growing preference for vegan diets. Governments are focusing on studies and regulations of plant- and cell-based diets while simultaneously considering ‘meat taxes’ and other limitations on conventional protein production, prompted by concerns about food security, sustainability, and fight against antibiotic resistance.
For instance, in Germany, the value-added tax (VAT) on traditional meat was increased by 12% in 2019 and additional revenue would be used to enhance animal welfare. In addition, scientifically valid regulatory approval procedure in Singapore is generally viewed as a leading signal for more extensive approvals by other nations. This breakthrough could have a significant impact on APAC nations as well as other nations that are actively developing cultured product regulation frameworks. While, cultivated proteins have the potential to significantly disrupt the conventional protein market, especially as production costs fall.
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Some Key Highlights from the Report:
- Based on source type, the microbial protein segment is expected to account for lucrative growth over the forecast period. This is due to expansion of the dietary supplements market, expanding popularity of products derived from cryptococcus aureus and other types of yeast proteins, and rising number of goods containing yeast as an ingredient. Utilizing microbial protein has the advantage of giving customers access to a wider variety of protein sources, which have 40%–60% protein range (dry matter). Microalgae and mycoprotein (i.e., derived from mushrooms) are the most popular sources that can be employed in the food industry. In addition, use of yeast proteins is becoming more popular as a result of increased health benefits, greater emphasis on muscle building, and increasing number of consumers to stay fit and healthy. Moreover, majority of manufacturing businesses are creating goods with a yeast base, for example, primary-cultured saccharomyces cerevisiae, are used to make AnPro yeast protein, which is produced by Angel Yeast Co., Ltd., includes over 70% of high-quality protein. AnPro's PDCAAS (Protein Digestibility Corrected Amino Acids Score) and EAAI (Essential Amino Acid Index) values are on pace with those of Whey Protein Concentrate (WPC) and higher than those of Soy Protein Isolate (SPI), demonstrating its superior quality and great digestion.
- Based on application, the personal care and cosmetics segment is expected to account for lucrative growth during the forecast period. Biocosmetics are topical skin, hair, face, and dental care products that are manufactured from completely natural substances sourced from plants, animals, microorganisms, enzymes, insects, and organic crops. These products are devoid of pesticides and chemical fertilizers. Alternative proteins are gaining popularity for usage in biocosmetics because they can be applied to cosmetics and personal care products. In addition, majority of current skin-care cosmetic formulas contain hazardous, non-biodegradable chemicals derived from petroleum or mineral oils. Many major cosmetic companies have switched their focus from fossil-based components to bio-based ingredients to build a circular economy, satisfy consumer demand for green cosmetics, and address environmental concerns. As a result of their fair treatment of nature, sustainable, natural, and greener cosmetics, already command a sizable segment, thus contributing for expansion of the personal care and cosmetic segment.
- The North America market is expected to account for largest revenue share throughout the forecast period. Major factors responsible for substantial increase in market growth include increase in food producers and a quick development in the food processing industry.
- Some major companies profiled in the market report are Cargill Incorporated, Archer-Daniels Midland Company, Yaeyama Shokusan Co., Ltd., Far East Microalgae Industries Co., Ltd., Dupont De Nemours, Inc., Roquette Frères, and Enterra Corporation, among others.
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Source Type Outlook (Revenue, USD Million, 2019 - 2030)
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Canola Protein
- Potato Protein
- Others
- Insect Protein
- Crickets
- Black Soldier Fly
- Microbial Protein
- Algae Protein
- Fungal Protein
- Mycoprotein
- Mushrooms Protein
- Bacterial Protein
- Yeast Protein
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Food and Beverage
- Meat, Poultry, and Seafood
- Bakery
- Meat Analogs
- Dairy Alternatives
- Others
- Dietary Supplements
- Animal Feed and Pet Food
- Personal Care and Cosmetics
- Pharmaceuticals
Form Outlook (Revenue, USD Million, 2019 - 2030)
- Dry Form
- Wet Form
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Regional Outlook
For comprehensive understanding of market dynamics, the global Alternative Proteins Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Alternative Proteins Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Alternative Proteins Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Alternative Proteins Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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