The global alternative proteins market was valued at USD 7.75 billion in 2016. Alternative proteins market is mainly driven by the increasing health consciousness, shift in consumer preference towards natural plant proteins and increasing demand from general middle class consumers. The alternative proteins market has been segmented on the basis of product type, application, and region.

In terms of product type, soy protein accounted for approximately 80% revenue share in year 2016 of the global market and is projected to maintain its dominance throughout the forecast period 2017 to 2025. However, pea protein is anticipated to be the fastest growing segment with CAGR of around 8.4% during the forecast period 2017 to 2025.

In terms of application, sports nutrition accounted for the largest share in terms of value. It is also projected to grow at a fastest CAGR of 7.7% during the forecast period of 2017 to 2025. Increased usage of alternative proteins, especially in ready to drink beverages, and post workout drinks is expected to drive segment growth over the forecast period.

In 2016, the alternative proteins market by region was dominated by the North America accounting more than 35% of the market share. North America was followed by the Europe and Asia-Pacific. The U.S. is the largest national market for alternative proteins. Increasing demand for healthy drinks, meal replacement beverages and high protein products among consumers in the U.S. is driving the demand for alternative proteins. China will see the fastest growth during the forecast period, at a CAGR of 9.1% between 2017 and 2025. Factors such as increasing consumption and growth of food industry will support the growth of alternative proteins market.

Major players operating in the market are Archer Daniels Midland, Cargill Incorporated, CHS Inc., E. I. du Pont de Nemours and Company, Kerry Group, Nisshin Oillio Group, Ltd., Roquette Frères, Ruchi Soya Industries among others.

The report titled “Global Alternative Proteins Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025” offers strategic insights into the global Alternative Proteins market along with the market size and estimates for the duration 2017 to 2025. The said research study covers in-depth analysis of multiple market segments based on resin type, type, end-use industry and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help the strategic decision makers, the report also includes profiles of the leading alternative proteins manufacturers, along with their, product portfolio and key developments. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the alternative proteins industry
• Market drivers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2015 – 2016)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global alternative proteins market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.

Soy protein is estimated to account for approximately 80% of the alternative proteins market in 2016, and is expected to maintain its dominance during the forecasted period. Manufacturers are focusing on offering new and innovative alternatives that are sourced from plants, hence fueling demand for alternative proteins such as soy and pea. Change in the consumption pattern and lifestyle coupled with increasing demand of high nutrition food is expected to drive the alternative protein market, globally.

Alternative proteins have been classified into three main categories: first generation, second generation and third generation. First generation alternative protein includes soy, which has the largest market. Second generation alternative protein includes peas, rice, canola etc., which accounts for approximately 10% of the total alternative proteins market. Third generation alternative proteins includes algae and insect protein and will also see growth for its lower land use requirements, greenhouse gas emission potential and high protein digestibility.

Alternative proteins find its application in weight management products, sports nutrition, positive nutrition, healthy nutrition and others (includes baby food and meal replacement drinks). Alternative proteins offer various benefits such as increase in strength, enhanced performance and assistance in weight control and help in maintaining a healthy life style. Proteins are considered as one of the major food constituents and are preferred by fitness enthusiast and gym users. In 2016, on the basis of application, the alternative proteins market was dominated by sports nutrition segment. This segment is projected to witness growth of over 7.6% between 2017 and 2025. Increased usage of alternative proteins, especially in ready to drink beverages, and post workout drinks is expected to drive segment growth over the forecast period. Healthy nutrition is the second largest segment in alternative protein application market. Due to increasing number of people focusing on their diets coupled with consumer shift towards healthy lifestyle is expected to support the growth of healthy nutrition segment during the forecasted period.

The global alternative proteins market has been segmented geography-wise, wherein a detailed analysis of every country has been conducted in this section. These regions include North America, Asia Pacific, Europe, Latin America and the Middle East & Africa.

The global market for alternative proteins is dominated by North America region in terms of value, accounted for approximately 33% of global alternative protein market, followed by Europe and Asia Pacific. Increasing demand for healthy drinks, meal replacement beverages and high protein products among consumers in the U.S. is driving demand for alternative proteins. Asia Pacific is projected to grow at the fastest CAGR of 8.2% at regional level during the forecasted period. Increasing preference of consumers for second and third generation protein coupled with growing food industry is expected to boost the growth of Asia Pacific market. China is the fastest growing country in alternative protein market and is expected to witness the growth of more than 9% between 2017 and 2025. High consumption of algae and insect based products in China is driving demand for alternative proteins in this country.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Alternative Proteins market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Alternative Proteins market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Alternative Proteins market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Alternative Proteins market?
• Which is the largest regional market for Alternative Proteins market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Alternative Proteins market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Alternative Proteins market worldwide?