London, Feb. 03, 2020 (GLOBE NEWSWIRE) — Globally, increasing demand for animal protein is driving the livestock production, which leads to key issues such as increased greenhouse gas emissions and increased pressure on land and water usage. This has opened a great opportunity for alternative proteins, such as plant-based protein, edible insects, cultured meats, algal protein, and microbial protein, which have the capability to satisfy food need with the high nutrition and environmental sustainability. Since 4-5 years, there has been a growing consumer and investor interest in the alternative protein, which have a great potential to play a vital role in reducing the impact on the current food and agriculture ecosystem.
According to a new market research report “Alternative Protein Market by Stage/Type (Insect, Algae, Duckweed, Lab Meat, Pea, Rice, Potato, Corn, Soy, Wheat, Corn, Mycoprotein, Mushrooms), Application, and Geography – Global Forecast to 2025”, published by Meticulous Research®, the global alternative protein market, in terms of value, is expected to grow at a CAGR of 9.5% from 2019 to reach $17.9 billion by 2025; while in terms of volume, the market is expected to grow at a CAGR of 5.2% from 2019 to reach 9,787.4 KMT by 2025. The high growth of the global alternative protein market is mainly attributed to growing urbanization with new consumer aspiration, rising venture investments in alternative protein companies, innovation in food technology, high nutritional value of edible insects, and environmental sustainability with production and consumption of alternative protein. Moreover, growing research & development and emerging economies provides significant growth opportunities for the various stakeholders in this market. However, high cost of alternative protein and significant preference for animal-based products are expected to hamper the growth of this market to some extent.
The factors such as desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins in alternative protein space. Based on type, soy protein segment commanded the largest share of the overall plant-based protein market in 2019. The large share of soy protein is mainly attributed to higher consumer acceptance level, presence of large number of manufacturers and their high scale of production, low cost than other types of plant proteins, increased demand for plant-based products, easy availability of raw materials, and large number of applications in various industries.
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Based on application, plant-based protein products commanded the largest share of the overall alternative protein market in 2019. The large share of this segment is mainly attributed to the high consumer demand for sustainable products, growing knowledge about the health benefits of plant protein, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trend. However, the edible insect-based products are expected to witness a significant growth, owing to high nutritional value of insects, increasing demand for novel food products, growing familiarity with insects-as-food, growing acceptance of insects and insect-based food among people, and environmental sustainability with production and consumption of edible insects.
Geographically, North America commanded the largest share of the overall alternative protein market in 2019, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to the well-established food and feed industry, rising concerns over animal products and protein, increasing vegan population, growing preference to meat alternatives, and technological advancement in food industry. However, Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period, mainly due to increasing protein rich diet awareness, increasing health consciousness, growing technological advancements in food & beverages industry, growing economy, and increasing raw material availability. Also, factors such as rising adoption of emerging technologies for product innovation, collaboration between international and domestic food companies, and presence of large number of players supports the growth of Asia Pacific market.
Some of the key players operating in the global alternative protein market are AgriProtein (South Africa), Ynsect (France), Enterra Feed Corporation (Canada), Protix (The Netherlands), Proti-Farm Holding NV (The Netherlands), Entomo Farms (Canada), Global Bugs Asia Co., Ltd. (Thailand), Aspire Food Group (U.S.), Tiny Farms (U.S.), EntoCube (Finland), EnviroFlight, LCC. (U.S.), Entofood Sdn Bhd. (Malaysia), Coalo Vally Farms (U.S.), Armstrong Cricket Farm Georgia (U.S.), Rocky Mountain Micro Ranch (U.S.), DIC Corporation (Japan), Cellana Inc. (U.S.), Taiwan Chlorella Manufacturing Company (China), Microalgaetech International Sdn Bhd (Malaysia), BlueBioTech Int. GmbH (Germany), Algatechologies Ltd. (Israel), Pond Technologies Inc. (Canada), E.I.D. – Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd (China), AlgaeCan Biotech Ltd. (Canada), Corbion NV (The Netherlands), Sun Chlorella Corporation (Japan), Parabel, Inc. (U.S.), Plantible Foods, Inc. (U.S.), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Inc (U.S.), Kerry Group (Ireland), E.I. Dupont de Nemours and Company (U.S.), Now foods (U.S.), Tate & Lyle Plc (U.K.), AXIOM Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glanbia Plc (Ireland), Sotexpro (France), Farbest Brands (U.S.), and CHS Inc. (U.S.), Just, Inc. (U.S.), Mosa Meat (The Netherlands), Memphis Meats (U.S.), and MycoTechnology Inc. (U.S.) among others.
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Scope of the Report:
Alternative Protein Market by Stage/Type
- Emerging Alternative Protein
- Lab Meat
- Adolescent Alternative Protein
- Matured Alternative Protein
Alternative Protein Market by Application
- Plant Protein Market, by Application
- Food and Beverages
- Meat, Poultry, and Seafood
- Meat Analogue
- Dairy and Dairy Alternatives
- Cereals and Snacks
- Animal Feed
- Nutrition and Health Supplement
- Food and Beverages
- Insect Protein Market, By Application
- Value Added Whole Insects
- Animal and Pet Feed Products
- Value Added Insect Powder
- Insect Protein Bars and Protein Shakes
- Insect Baked Products and Snacks
- Insect Confectionaries
- Insect Beverages
- Aquatic Plant Protein Market, by Application
- Food and Feed
- Microbial Protein Market, By Application
- Dairy Alternatives
- Fermented Products
- Cultured Meat Market, by Application
- Hot Dogs
Alternative Protein Market by Geography
- North America
- The Netherland
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC (RoAPAC)
- Rest of World
- Latin America
- Rest of Latin America (RoLATAM)
- Middle East and Africa
- Latin America
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