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. Moreover, alternative proteins are offering food and agricultural systems new methods to address social and environmental needs. A switch to alternative proteins aids in reducing agriculture's environmental impact especially that of Greenhouse Gases (GHGs). Total annual emissions from livestock are projected to be 7.1 gigatonnes of CO2-equivalent, or 14.5% of all anthropogenic GHG emissions, with beef cattle accounting for 65% of these emissions. Furthermore, crop patterns change and since plant-based and cultured proteins have greater conversion ratios than conventional proteins, there is a decrease in environmental effect of traditional protein production.
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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.
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.
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For this study, Reports and Data has segmented the global alternative proteins market based on source type, application, form, and region:
Source Type Outlook (Revenue, USD Million, 2019 - 2030)
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Canola Protein
- Potato Protein
- Insect Protein
- Black Soldier Fly
- Microbial Protein
- Algae Protein
- Fungal Protein
- Mushrooms Protein
- Bacterial Protein
- Yeast Protein
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Food and Beverage
- Meat, Poultry, and Seafood
- Meat Analogs
- Dairy Alternatives
- Dietary Supplements
- Animal Feed and Pet Food
- Personal Care and Cosmetics
Form Outlook (Revenue, USD Million, 2019 - 2030)
- Dry Form
- Wet Form
Regional Outlook (Revenue, USD Million, 2019 - 2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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