Alternative Protein Growth rate, Opportunity, Industry Analysis to 2028

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Alternative Protein Market Size to Cross USD
193.75 Bn by 2032
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Overview of Alternative Protein Market

• The alternative protein market is set to witness
  substantial growth by 2028 as a result of growing
  health consciousness among consumers. In
  addition, increasing demand for vegan products,
  along with soaring preference for healthy food
  supplements across the globe, is likely to
  further stimulate market growth over the forecast
  period.
• During the COVID-19 pandemic, mounting need to
  fortify their immune systems against the
  infection improved consumer interest in protein
  supplements. Moreover, prevalent diet trends like
  veganism, coupled with rising disposable income,
  propelled product uptake, thereby boosting
  industry expansion.
• The alternative protein market have been focusing
  on product development, and strategic
  collaborations to maintain a strong position in
  the sector, which has been favorable for business
  outlook. For instance, in June 2023, Archer
  Daniels Midland Company, a food processing
  expert, partnered with pharmaceutical behemoth
  Bayer in India to implement its sustainable crop
  protection model for soybean farmers.

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• The alternative protein market has been
  bifurcated in terms of application, source, and
  region. In the source frame of reference, the
  alternative protein industry has been split into
  insect-based, microbial-based, and plant-based.
• The plant-based source segment has been further
  classified into duckweed protein, soy protein
  isolates, fermented soy protein, soy protein
  concentrates, and others. The soy protein
  isolates segment is expected to grow at a CAGR
  surpassing 17.5 while the fermented soy protein
  segment is poised to progress at around 16.5
  CAGR through the review timeline.
• The duckweed protein source segment is
  anticipated to exhibit substantial growth at more
  than 22.5 CAGR by 2028. Meanwhile, the
  alternative protein market share from the others
  plant-based source segment, which includes pea,
  beans, and lentils, is slated to proliferate at a
  CAGR of over 18 through the assessment period.

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• The microbial-based segment has been further
  segmented into fungi, bacteria, algae, yeast, and
  others. The yeast-sourced and fungi-sourced
  segments are speculated to expand at above 20.5
  CAGR over the forecast timespan. Additionally,
  the algae segment is inclined to record robust
  expansion at a CAGR exceeding 21.5 through the
  study timeline.
• The dairy alternatives segment and the beverages
  segment are slated to expand at a CAGR of more
  than 19 over the forecast period. Furthermore,
  the others food segment, which consists of keto
  foods and burgers, is contemplated to grow at a
  CAGR of above 19.5 through the review time
  period.
• Notable participants in the Alternative Protein
  market include Hamlet Protein, Archer Daniel
  Midland Company, Puris, Axiom Foods, Darling
  Ingredients, Innovafeed, Lallemand Inc, AB Mauri,
  Soja Protein, Ingredion, Cargill Incorporation,
  Royal DSM NV, AMCO Proteins, Ynsect, Angel Yeast,
  and Calysta Inc. 

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