Alternative Protein Market: size was valued at US$ 16.88 Billion in 2022 and the total Alternative Protein revenue is expected to grow at 9.84% through 2023 to 2029, reaching nearly US$ 32.58 Billion.

Alternative Protein Market Overview: 

Maximize Market Research's new report, Global Alternative Protein Market 2022-2029, is useful for understanding the market's competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The study offers a market overview that describes the value chain's structure, as well as the market's size, applications, and forecast for the years (2021–2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Alternative Protein market.

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Market Scope:

The research provides an analytical view of the business by studying several elements such as worldwide Alternative Protein market growth, consumption volume, market trends, and company pricing structures throughout the projected period. In-depth research is used in the analysis to examine the market's complexity. The research provides an overview of the worldwide Alternative Protein market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. Based on productivity and manufacturing base, this market has been investigated in a number of different ways.

Segmentation: 

by Source
Plant Protein
Mycoprotein
Algal Protein
Insect Protein

According to Source, the plant protein market was the largest in the world in 2022. The highest CAGR of 6.7% is anticipated for this market category during the forecast period (2023-2029). Wheat, soy, pea, and oat-based proteins are subdivided further into plant-based proteins. Different egg- and meat-based products use pea-based proteins. The primary driver of the pea processing segment growth is low processing costs. Additionally, the majority of ailments, according to the CDC (Centre for Prevention of Disease and Control), are brought on by eating non-vegetarian food. This is anticipated to fuel this segment's growth during the same forecast period.
In 2022, the Myprotein segment had a market value of US$550 million. Products made from mycoprotein replicate the flavour and feel of real meat better than other alternatives.

by Form
Dry Form
Wet Form

by Application
Food
Beverage
Dietary Supplement
Feed Industry

In terms of Application, the food and beverage sector will rule the global market for alternative proteins in 2022. During the aforementioned forecast period, this segment is also anticipated to expand at the highest CAGR of 5.6%. This is caused by the fast replacement of conventional protein sources by alternative foods like paneer.
The global market for alternative protein as a dietary supplement is expected to grow significantly. This is related to the demand for protein supplements in the healthcare sector. Doctors are most likely to suggest dietary protein supplements to patients who have disorders like Kwashiorkor and cachexia that are protein-deficient. During the aforementioned forecast period, these factors are anticipated to have an impact on the worldwide alternative protein market.

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Key Players: 

It then discusses the top competitors in the worldwide Alternative Protein market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. The research also evaluates raw material sources, import-export, the value chain, price structure, and the industrial supply chain in addition to capacity utilisation. The following participants are highlighted in this study:

1. Corbion Biotech Inc.
2. Agriprotein Holdings Ltd
3. Algatechologies Ltd.
4. BurconNutraScience Corporation
5. Aspire Food Group
6. EntofoodSdn Bhd
7. MycoTechnology Inc.
8. Tianjin Norland Biotech Co., Ltd
9. Enterra Feed Corporation
10. Glanbia Plc.
11. Microalgaetech International SdnBhd
12. Ingredion Incorporated
13. Sun Chlorella Corporation
14. Parabel, Inc.
15. Plantible Foods, Inc.
16. Now foods

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Regional Analysis:

The report has analyzed the global Alternative Protein market in the following regions:

• North America (Mexico, Canada, and the United States)
  . Germany, France, the United Kingdom, Russia, Italy, and the rest of Europe make up the European Union.
  . Asia-Pacific region (including Australia, China, Japan, Korea, Southeast Asia, and Japan)
  . Latin America (Brazil, Argentina, Colombia, and the remaining countries in South America)
• Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East Africa)

The study offers in-depth perceptions into a wide range of development prospects and obstacles in the aforementioned regions based on various items, applications, end users, and nations, among other factors.  The research also includes key features of the worldwide Alternative Protein market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.

COVID-19 Impact Analysis on Alternative Protein Market:

Practically every industry has been hit by the unprecedented global public health disaster known as COVID-19, and the long-term effects are anticipated to have an impact on industry growth for the duration of the forecast period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The updated research includes new information, analysis, projections, and predictions based on COVID-19's impact on the market.

The Alternative Protein Market Report provides key answers to the following questions:

• Which are the major companies in the Alternative Protein market? 

• Which is the potential market for Alternative Protein in terms of the region?

• Which application area of Alternative Protein is expected to grow at a significant rate in the market in the next 5 years?

• What are the opportunities for new market entrants?

• What will be the Alternative Protein market size by 2027?

• What are the market's chances of growth?

• What is the base year considered in the Alternative Protein market report?

• Which region dominates the Alternative Protein market in terms of market share?

• What factors are anticipated to drive the Alternative Protein market?