Protein Alternatives Market - Global Forecast To 2029
| 出版年月 | 2024年7月 |
| ページ数 | 380 |
| 図表数 | 488 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,950 |
| 種別 | 英文調査報告書 |
Report Overview
The global market for protein alternatives is estimated to be valued at USD 15.7 billion in 2024 and is projected to reach USD 25.2 billion by 2029, at a CAGR of 9.9% during the forecast period.
代替タンパク質の世界市場は、2024 年に 157 億米ドルと推定され、予測期間中の CAGR 9.9% で、2029 年までに 252 億米ドルに達すると予測されています。
The increasing demand for protein alternatives is driven by several key factors, particularly the growing consumer preference for natural and clean-label ingredients in food and beverages. As health becomes a top priority, there is a rising desire for products perceived as natural and nutritious. Protein alternatives derived from plants like soy, peas, and lentils fit perfectly with this trend. These plant-based proteins not only serve as natural additives but also offer functional benefits, making them appealing for use in a wide variety of food and beverage products.
Additionally, there is a heightened awareness and adoption of plant-based diets, emphasizing the importance of protein-rich plant sources. Plant-based protein diets are known for their numerous health benefits, including better weight management, improved digestive health, and a reduced risk of chronic diseases such as heart disease and diabetes. Plant-based proteins from legumes, nuts, and seeds meet these dietary needs while offering sustainable and ethical alternatives to animal-based proteins, further driving their popularity in the market.
In May 2023, ADM (US) and Air Protein Inc (US) entered into a Strategic Development Agreement (SDA) to collaborate on developing new protein sources for nutrition. Air Protein specializes in producing protein from the air without the need for traditional agriculture, reducing supply chain risks. This partnership leverages ADM’s expertise in nutrition, formulation, and research with Air Protein’s innovative landless agriculture platform to scale up cost-effective protein ingredients for meat substitutes. The agreement includes plans to build and operate the world’s first commercial-scale Air Protein plant. ADM’s investment in Air Protein and other partners has advanced the development of Air Protein’s technology, including its Bay Area Air Farm. This agreement highlights the companies’ commitment to sustainable food systems and meeting the protein demand of a growing global population.
“The conventional segment is projected to dominate the market in the nature segment during the forecast period.”
The market for protein alternatives is witnessing substantial growth as more consumers transition from animal-based proteins to plant-based options. This trend has significantly increased the demand for alternative protein products. Conventional crops, due to the use of fertilizers, pesticides, and synthetic chemicals in their cultivation, generally exhibit higher protein levels compared to organic crops. Thus, conventional plant-based proteins are well-positioned to meet this rising demand.
Health concerns and allergies associated with soy and wheat have led manufacturers to innovate. In January 2022, NuCicer, a US-based company, introduced a line of chickpea protein products as a more sustainable and cost-effective alternative. This high-protein, gluten-free products are intended to serve as viable substitutes for traditional protein sources such as soy, wheat, and peas. As demand for alternative proteins grows, companies are increasingly investing in research and development to broaden their product portfolios and address consumer preferences. In addition to chickpeas, other novel sources like hemp, algae, and quinoa are gaining popularity for their nutritional and sustainable qualities.
Technological advancements in food production are enhancing the taste, texture, and functionality of alternative protein products, further driving consumer acceptance and market expansion. With continuous innovation and growth in the protein alternatives sector, the future promises significant opportunities for both consumers and manufacturers.
“The dry sub-segment in the form of the segment is estimated to grow at a significant CAGR during the forecast period.”
The dry form of protein alternatives is experiencing substantial growth, marked by a significant compound annual growth rate (CAGR) during the forecasted period. This surge is driven by increasing consumer demand for sustainable and plant-based protein sources, coupled with advancements in food technology that enhance the taste, texture, and nutritional profile of these products. The versatility and convenience of dry protein alternatives, such as powders and flakes, make them ideal for incorporation into a wide range of food products, including snacks, baked goods, and meal replacements. Additionally, the growing awareness of health and wellness trends, alongside environmental concerns associated with traditional animal-based proteins, further propels the market. As a result, manufacturers are increasingly investing in research and development to innovate and expand their product offerings, thereby fueling the continued growth and adoption of dry protein alternatives globally.
“Europe has consistently held a substantial market share within the protein alternatives sector during the period studied.”
The European region is at the forefront of the booming protein alternatives market, showcasing impressive growth and shifting consumer preferences. As health consciousness, environmental sustainability, and ethical considerations gain traction, European consumers are increasingly opting for plant-based protein alternatives over traditional animal-derived sources. This dietary shift is driven by growing awareness of the health benefits of plant-based diets, such as reduced risk of chronic diseases and improved environmental sustainability. Consequently, the protein alternatives market in Europe has experienced significant expansion, with a wide array of innovative products emerging to meet diverse consumer needs and preferences.
Additionally, the rising trend of adopting plant-based proteins extends to animal feed. With increasing concerns about the environmental impact and ethical implications of livestock farming, there is a growing demand for sustainable alternatives in animal agriculture. Plant protein-based animal feed presents a viable solution, offering a nutritious and eco-friendly substitute for conventional animal-derived feed ingredients. This trend is further supported by regulatory initiatives aimed at promoting sustainable agriculture and minimizing the ecological footprint of livestock production. As a result, the European market for plant-based animal feed is witnessing steady growth, creating lucrative opportunities for stakeholders across the agricultural value chain.
In January 2024, Roquette Frères (France) expanded its NUTRALYS plant protein portfolio by introducing four new pea protein ingredients, including isolates, hydrolysates, and textured variants. These multifunctional pea proteins are designed to address formulation challenges in plant-based foods and high-protein nutritional products, paving the way for innovation in applications such as nutritional bars, protein drinks, and plant-based meat and dairy alternatives. This innovation is set to drive further growth and diversification in the protein alternatives market, enabling the development of more varied and appealing plant-based options for consumers.
The break-up of the profile of primary participants in the protein alternatives market:
• By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
• By Designation: CXO’s – 20%, Managers – 50%, Executives- 30%
• By Region: North America – 25%, Europe – 20%, Asia Pacific – 30%, South America – 15% and Rest of the World –10%
Prominent companies ADM (US), Cargill (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Roquette Frères (France), Wilmar International Ltd. (Singapore), Glanbia plc (Ireland), Kerry Group PLC (Ireland), DSM (Netherlands), AGT Food and Ingredients (Canada), Burcon (Canada), InnovaFeed (France), Emsland Group (Germany), Global Bugs (Thailand), Ynsect (France), Tate & Lyle (UK).
Other players include BENEO GmbH (Germany), SOTEXPRO (France), Shandong Jianyuan group (China), AMCO Proteins (US), Emsland Group (Germany), COSUCRA (Belgium), Australian Plant Proteins Pty Ltd (Australia), PURIS (US), Mycorena (Sweden), CEAMSA (Spain), nextProtein (France), Hexafly (Ireland).
Research Coverage:
This research report categorizes the protein alternatives market by Source (plant protein, microbial protein, insect protein), by Form (dry, liquid), by Nature (conventional, organic), by application (food & beverages, animal feed, pet food) and by region (North America, Europe, Asia Pacific, South America, RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the protein alternatives market. A detailed analysis of the key industry players has been done to provide insights into their business overview, services, key strategies, contracts, partnerships, and agreements. New service launches, mergers and acquisitions, and recent developments associated with the protein alternatives market. Competitive analysis of upcoming startups in the protein alternatives market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall protein alternatives market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing interest in health-centric food and beverages), restraints (Possibilities of nutritional & vitamin deficiencies among vegans), opportunities (Effective marketing strategies and correct positioning of plant-based proteins), and challenges (Concerns regarding taste and texture of plant-based protein) influencing the growth of the plant-based protein market.
• New product launch/Innovation: Detailed insights on research & development activities and new product launches in the protein alternatives market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the protein alternatives market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the protein alternatives market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like ADM (US), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Roquette Frères (France) and others in the protein alternatives market strategies.
Table of Contents
1 INTRODUCTION 50
1.1 STUDY OBJECTIVES 50
1.2 MARKET DEFINITION 50
1.3 STUDY SCOPE 51
1.3.1 MARKET SEGMENTATION 51
1.3.2 INCLUSIONS AND EXCLUSIONS 52
1.3.3 REGIONS COVERED 53
1.3.4 YEARS CONSIDERED 54
1.4 CURRENCY CONSIDERED 54
TABLE 1 USD EXCHANGE RATES, 2020–2023 55
1.5 UNITS CONSIDERED 55
1.6 STAKEHOLDERS 56
1.6.1 RECESSION IMPACT ANALYSIS 56
2 RESEARCH METHODOLOGY 57
2.1 RESEARCH DATA 57
FIGURE 1 PROTEIN ALTERNATIVES MARKET: RESEARCH DESIGN 57
2.1.1 SECONDARY DATA 58
2.1.1.1 Key data from secondary sources 58
2.1.2 PRIMARY DATA 58
2.1.2.1 Key data from primary sources 59
2.1.2.2 Breakdown of primary profiles 60
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION 60
2.1.2.3 Key insights 61
FIGURE 3 INSIGHTS FROM KEY INDUSTRY EXPERTS 61
2.2 MARKET SIZE ESTIMATION 61
2.2.1 TOP-DOWN APPROACH 62
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 62
2.2.2 SUPPLY-SIDE ANALYSIS 62
FIGURE 5 MARKET SIZE CALCULATION: SUPPLY SIDE 63
2.2.3 BOTTOM-UP APPROACH (DEMAND SIDE) 63
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 64
2.3 DATA TRIANGULATION 65
FIGURE 7 DATA TRIANGULATION 65
2.4 RESEARCH ASSUMPTIONS 66
2.5 LIMITATIONS AND RISK ASSESSMENT 66
2.6 RECESSION IMPACT ANALYSIS 67
2.6.1 MACROECONOMIC INDICATORS OF RECESSION 68
FIGURE 8 MACROECONOMIC INDICATORS OF RECESSION 68
FIGURE 9 GLOBAL INFLATION RATE, 2011–2022 68
FIGURE 10 GLOBAL GDP, 2011–2022 (USD TRILLION) 69
FIGURE 11 RECESSION INDICATORS AND THEIR IMPACT ON PROTEIN ALTERNATIVES MARKET 70
FIGURE 12 GLOBAL PROTEIN ALTERNATIVES MARKET: EARLIER FORECAST VS. RECESSION FORECAST 71
3 EXECUTIVE SUMMARY 72
TABLE 2 PROTEIN ALTERNATIVES: MARKET SHARE SNAPSHOT, 2024 VS. 2029 (USD MILLION) 73
FIGURE 13 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION) 73
FIGURE 14 PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION) 74
FIGURE 15 PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024 VS. 2029 (USD MILLION) 74
FIGURE 16 PROTEIN ALTERNATIVES MARKET, BY FORM, 2024 VS. 2029 75
FIGURE 17 PROTEIN ALTERNATIVES MARKET SHARE AND GROWTH RATE, BY REGION 75
4 PREMIUM INSIGHTS 77
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PROTEIN ALTERNATIVES MARKET 77
FIGURE 18 NEW PRODUCT DEVELOPMENTS AND FACILITY EXPANSION TO DRIVE PROTEIN ALTERNATIVES MARKET 77
4.2 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY APPLICATION AND COUNTRY 78
FIGURE 19 CHINA AND FOOD & BEVERAGES SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARES IN 2024 78
4.3 PROTEIN ALTERNATIVES MARKET, BY SOURCE 78
FIGURE 20 PLANT PROTEIN SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 78
4.4 PROTEIN ALTERNATIVES MARKET, BY FORM 79
FIGURE 21 DRY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 79
4.5 PROTEIN ALTERNATIVES MARKET, BY NATURE 79
FIGURE 22 CONVENTIONAL SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 79
4.6 PROTEIN ALTERNATIVES MARKET, BY APPLICATION 80
FIGURE 23 FOOD & BEVERAGES SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 80
4.7 PROTEIN ALTERNATIVES MARKET, BY APPLICATION AND REGION 80
FIGURE 24 FOOD & BEVERAGES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 80
4.8 PROTEIN ALTERNATIVES MARKET: REGIONAL SNAPSHOT 81
FIGURE 25 US TO DOMINATE PROTEIN ALTERNATIVES MARKET IN 2024 81
5 MARKET OVERVIEW 82
5.1 INTRODUCTION 82
5.2 MACROECONOMIC INDICATORS 83
5.2.1 GLOBAL PRODUCTION OF PEA CROPS AND GREEN PEAS AND BOOST IN INNOVATION 83
FIGURE 26 GLOBAL PRODUCTION OF CHICKPEAS AND GREEN PEAS, 2018–2022 (MILLION TONNES) 83
FIGURE 27 GLOBAL PEA PRODUCTION, BY COUNTRY, 2021 (MILLION TONNES) 84
5.2.2 INCREASE IN SOYBEAN PRODUCTION 84
FIGURE 28 SOYBEAN PRODUCTION, BY KEY COUNTRY, 2018–2023 (MILLION TONNES) 85
5.2.3 CONSUMER SHIFT TOWARD PROTEIN ALTERNATIVES 85
5.2.4 INCREASING COLLABORATIONS & INVESTMENTS IN R&D BETWEEN MARKET LEADERS AND STARTUPS 85
TABLE 3 LIST OF INVESTMENTS IN INSECT PROTEIN MARKET, 2019–2023 (USD MILLION) 86
5.3 MARKET DYNAMICS 86
FIGURE 29 PROTEIN ALTERNATIVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 87
5.3.1 DRIVERS 87
5.3.1.1 Increase in interest in health-centric food and beverages 87
5.3.1.2 Growth in consumer preferences toward veganism 88
5.3.1.3 Rise in cases of lactose intolerance 88
TABLE 4 PERCENTAGE OF LACTOSE-INTOLERANT PEOPLE, BY ETHNICITY 89
5.3.1.4 Increased preference for meat alternatives 89
5.3.1.5 Rise in lactose intolerance to boost use of wheat protein as dairy alternative 89
FIGURE 30 ESTIMATED PREVALENCE OF LACTOSE MALABSORPTION, BY COUNTRY, 2022 90
5.3.2 RESTRAINTS 91
5.3.2.1 Allergies associated with plant-based protein sources 91
5.3.2.2 Nutritional and vitamin deficiencies among vegans 91
5.3.2.3 Consumers’ unacceptance of insect-based proteins 92
5.3.3 OPPORTUNITIES 92
5.3.3.1 Focus on aquatic plants as new and emerging sources of protein 92
5.3.3.2 Effective marketing strategies and correct positioning of plant-based proteins 93
5.3.3.3 Lifestyle changes 93
5.3.3.4 Opportunities for food equipment manufacturers in insect rearing 94
5.3.4 CHALLENGES 94
5.3.4.1 Concerns over quality of food and beverages due to adulteration of GM ingredients 94
5.3.4.2 Economic constraints 95
5.3.4.3 Concerns related to taste and texture offered by plant-based protein 95
6 INDUSTRY TRENDS 96
6.1 INTRODUCTION 96
6.2 SUPPLY CHAIN ANALYSIS 96
FIGURE 31 PROTEIN ALTERNATIVES MARKET: SUPPLY CHAIN ANALYSIS 96
6.3 VALUE CHAIN ANALYSIS 97
FIGURE 32 PROTEIN ALTERNATIVES MARKET: VALUE CHAIN ANALYSIS 97
6.3.1 RESEARCH & PRODUCT DEVELOPMENT 98
6.3.2 RAW MATERIAL SOURCING 98
6.3.3 PRODUCTION & PROCESSING 98
6.3.4 DISTRIBUTION 98
6.3.5 MARKETING & SALES 99
6.3.6 END USERS 99
6.4 TRADE ANALYSIS 99
6.4.1 IMPORT SCENARIO OF SOYBEANS 99
FIGURE 33 IMPORT OF SOYBEANS, BY KEY COUNTRY, 2019–2023 (USD) 100
TABLE 5 IMPORT SCENARIO FOR HS CODE: 1201, BY COUNTRY, 2019–2023 (USD) 100
6.4.2 EXPORT SCENARIO OF SOYBEANS 100
FIGURE 34 EXPORT OF SOYBEANS, BY KEY COUNTRY, 2019–2023 (USD) 101
TABLE 6 EXPORT SCENARIO FOR HS CODE: 1201, BY COUNTRY, 2019–2023 (USD) 101
6.4.3 IMPORT SCENARIO OF PEAS 101
FIGURE 35 IMPORT OF PEAS, BY KEY COUNTRY, 2019–2023 (USD) 102
TABLE 7 IMPORT SCENARIO FOR HS CODE: 071310, BY COUNTRY, 2019–2023 (USD) 102
6.4.4 EXPORT SCENARIO OF PEAS, BY KEY COUNTRY 102
FIGURE 36 EXPORT OF PEAS, BY KEY COUNTRY, 2019–2023 (USD) 103
TABLE 8 EXPORT SCENARIO FOR HS CODE: 071310, BY COUNTRY, 2019–2023 (USD) 103
6.4.5 IMPORT SCENARIO OF WHEAT & MESLIN 103
FIGURE 37 IMPORT OF WHEAT & MESLIN, BY KEY COUNTRY, 2019–2023 (USD) 104
TABLE 9 IMPORT SCENARIO FOR HS CODE: 1001, BY COUNTRY, 2019–2023 (USD) 104
6.4.6 EXPORT SCENARIO OF WHEAT & MESLIN 104
FIGURE 38 EXPORT OF WHEAT & MESLIN, BY KEY COUNTRY, 2019–2023 (USD) 105
TABLE 10 EXPORT SCENARIO FOR HS CODE: 1001, BY COUNTRY, 2019–2023 (USD) 105
6.4.7 IMPORT SCENARIO OF RICE 105
FIGURE 39 IMPORT OF RICE, BY KEY COUNTRY, 2019–2023 (USD) 106
TABLE 11 IMPORT SCENARIO FOR HS CODE: 1006, BY COUNTRY, 2019–2023 (USD) 106
6.4.8 EXPORT SCENARIO OF RICE 106
FIGURE 40 EXPORT OF RICE, BY KEY COUNTRY, 2019–2023 107
TABLE 12 EXPORT SCENARIO FOR HS CODE: 1006, BY COUNTRY, 2019–2023 (USD) 107
6.4.9 IMPORT SCENARIO OF OATS 107
FIGURE 41 IMPORT OF OATS, BY KEY COUNTRY, 2019–2023 108
TABLE 13 IMPORT SCENARIO FOR HS CODE: 1004, BY COUNTRY, 2019–2023 (USD) 108
6.4.10 EXPORT SCENARIO OF OATS 108
FIGURE 42 EXPORT OF OATS, BY KEY COUNTRY, 2019–2023 (USD) 109
TABLE 14 EXPORT SCENARIO FOR HS CODE: 1004, BY COUNTRY, 2019–2023 (USD) 109
6.4.11 IMPORT SCENARIO OF MUSHROOMS 110
FIGURE 43 IMPORT OF MUSHROOMS, BY KEY COUNTRY, 2019–2023 (USD) 110
TABLE 15 IMPORT SCENARIO FOR HS CODE: 2003, BY COUNTRY, 2019–2023 (USD) 110
6.4.12 EXPORT SCENARIO OF MUSHROOMS 111
FIGURE 44 EXPORT OF MUSHROOMS, BY KEY COUNTRY, 2019–2023 (USD) 111
TABLE 16 EXPORT SCENARIO FOR HS CODE: 2003, BY COUNTRY, 2019–2023 (USD) 111
6.5 TECHNOLOGY ANALYSIS 112
6.5.1 KEY TECHNOLOGIES 112
6.5.1.1 Extrusion 112
6.5.1.2 Use of membrane technology to produce differentiated wheat proteins 112
6.5.2 COMPLEMENTARY TECHNOLOGIES 112
6.5.2.1 High-pressure Processing (HPP) 112
6.5.2.2 U-Loop 112
6.5.3 ADJACENT TECHNOLOGIES 113
6.5.3.1 Wet processing method for producing dairy alternative milk 113
6.6 PRICING ANALYSIS 113
6.6.1 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY SOURCE 113
FIGURE 45 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOURCE, 2023 (USD/KG) 114
TABLE 17 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOURCE, 2023 (USD/KG) 114
6.6.2 AVERAGE SELLING PRICE TREND, BY REGION 114
FIGURE 46 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/KG) 115
TABLE 18 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/KG) 115
6.6.3 AVERAGE SELLING PRICE TREND, BY SOURCE 115
FIGURE 47 AVERAGE SELLING PRICE TREND, BY SOURCE, 2020–2023 (USD/KG) 116
TABLE 19 AVERAGE SELLING PRICE TREND, BY SOURCE, 2020–2023 (USD/KG) 116
6.7 ECOSYSTEM 116
6.7.1 DEMAND SIDE 116
6.7.2 SUPPLY SIDE 117
FIGURE 48 KEY PLAYERS IN PROTEIN ALTERNATIVES MARKET 117
TABLE 20 PROTEIN ALTERNATIVES MARKET: ECOSYSTEM 118
6.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 119
FIGURE 49 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 119
6.9 PATENT ANALYSIS 120
TABLE 21 LIST OF MAJOR PATENTS PERTAINING TO MARKET, 2014–2024 120
FIGURE 50 NUMBER OF PATENTS GRANTED FOR PROTEIN ALTERNATIVES, 2014–2024 123
FIGURE 51 REGIONAL ANALYSIS OF PATENTS GRANTED FOR PROTEIN ALTERNATIVES 124
6.10 KEY CONFERENCES & EVENTS 124
TABLE 22 PROTEIN ALTERNATIVES MARKET: LIST OF KEY CONFERENCES & EVENTS, 2024–2025 124
6.11 TARIFF AND REGULATORY LANDSCAPE 125
6.11.1 TARIFF DATA FOR SOY 125
TABLE 23 TARIFF FOR HS CODE: 120190 125
6.11.2 TARIFF DATA FOR PEAS 125
TABLE 24 TARIFF FOR HS CODE: 071310 125
6.11.3 REGULATORY BODIES, AGENCIES, AND OTHER ORGANIZATIONS 125
TABLE 25 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 125
TABLE 26 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 126
TABLE 27 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 126
TABLE 28 SOUTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 126
TABLE 29 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 127
6.11.4 REGULATORY FRAMEWORK 127
6.11.4.1 North America 127
6.11.4.1.1 US 127
6.11.4.2 Feed Application 129
6.11.4.3 Food Application 129
6.11.4.3.1 Canada 129
6.11.4.4 Europe 129
6.11.4.5 Asia Pacific 133
6.12 PORTER’S FIVE FORCES ANALYSIS 134
TABLE 30 PORTER’S FIVE FORCES ANALYSIS 134
FIGURE 52 PORTER’S FIVE FORCES ANALYSIS 135
6.12.1 THREAT OF NEW ENTRANTS 135
6.12.2 THREAT OF SUBSTITUTES 135
6.12.3 BARGAINING POWER OF SUPPLIERS 136
6.12.4 BARGAINING POWER OF BUYERS 136
6.12.5 INTENSITY OF COMPETITIVE RIVALRY 136
6.13 KEY STAKEHOLDERS & BUYING CRITERIA 136
6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 137
FIGURE 53 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES 137
TABLE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES 137
6.13.2 BUYING CRITERIA 138
TABLE 32 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS 138
FIGURE 54 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS 138
6.14 CASE STUDY ANALYSIS 139
6.14.1 BLUE DIAMOND GROWERS PARTNERED WITH GROUP LALA TO ESTABLISH NETWORK IN MEXICO 139
6.14.2 KERRY GROUP PLC REVOLUTIONIZED PLANT-BASED PRODUCTS IN ASIA PACIFIC MARKET 139
6.14.3 ADM OFFERED NEW PLANT-BASED PROTEINS TO MEET GROWING CONSUMER DEMAND 140
6.14.4 GLANBIA LAUNCHED ITS GRAIN PORTFOLIO TO ADDRESS CONSUMERS’ RISING HEALTH CONCERNS 140
6.14.5 MGP INGREDIENTS USED WHEAT PROTEIN ISOLATE TO IMPROVE DOUGH STRENGTH AND FREEZER STABILITY 140
TABLE 33 IMPROVED DOUGH POROSITY AND EXTENSIBILITY FOR LONGER PERIOD 140
6.15 INVESTMENT AND FUNDING SCENARIO 141
FIGURE 55 GLOBAL ALTERNATIVE PROTEIN INVESTMENT TREND, 2018–2022 141
7 PROTEIN ALTERNATIVES MARKET, BY SOURCE 142
7.1 INTRODUCTION 143
FIGURE 56 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION) 143
TABLE 34 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 143
TABLE 35 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 144
TABLE 36 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 144
TABLE 37 PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 144
7.2 PLANT PROTEIN 144
7.2.1 DIVERSE ARRAY OF PLANT PROTEIN SOURCES WITH SUBSTANTIAL INCREASE IN NEWER SOURCES 144
TABLE 38 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 145
TABLE 39 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 145
TABLE 40 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 146
TABLE 41 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 146
TABLE 42 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (KT) 146
TABLE 43 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (KT) 147
TABLE 44 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 147
TABLE 45 PLANT-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 147
7.2.2 SOY 147
TABLE 46 SOY-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 148
TABLE 47 SOY-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 148
TABLE 48 SOY-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 149
TABLE 49 SOY-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 149
7.2.3 WHEAT 149
TABLE 50 WHEAT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 150
TABLE 51 WHEAT-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 150
TABLE 52 WHEAT-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 150
TABLE 53 WHEAT-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 151
7.2.4 PEAS 151
TABLE 54 PEA-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 151
TABLE 55 PEA-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 152
TABLE 56 PEA-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 152
TABLE 57 PEA-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 152
7.2.5 CANOLA, RICE, OATS, AND POTATOES 152
TABLE 58 CANOLA-, RICE-, OAT-, AND POTATO-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 153
TABLE 59 CANOLA-, RICE-, OAT-, AND POTATO-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 153
TABLE 60 CANOLA-, RICE-, OAT-, AND POTATO-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 154
TABLE 61 CANOLA-, RICE-, OAT-, AND POTATO-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 154
7.2.6 BEANS & SEEDS 154
TABLE 62 BEAN- & SEED-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 155
TABLE 63 BEAN- & SEED-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 155
TABLE 64 BEAN- & SEED-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 155
TABLE 65 BEAN- & SEED-BASED PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 156
7.2.7 OTHER PLANT PROTEINS 156
TABLE 66 OTHER PLANT PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 156
TABLE 67 OTHER PLANT PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 157
TABLE 68 OTHER PLANT PROTEIN ALTERNATIVES MARKET, BY TYPE, 2020–2023 (USD MILLION) 157
TABLE 69 OTHER PLANT PROTEIN ALTERNATIVES MARKET, BY TYPE, 2024–2029 (USD MILLION) 157
7.3 INSECT PROTEIN 157
7.3.1 RISE IN AWARENESS OF PROTEIN CONTENT IN EDIBLE INSECTS HAMPERED BY INFRASTRUCTURAL CONSTRAINTS 157
TABLE 70 INSECT PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 158
TABLE 71 INSECT PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 158
TABLE 72 INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 158
TABLE 73 INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 159
TABLE 74 INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (KT) 159
TABLE 75 INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (KT) 159
7.3.2 CRICKETS 160
TABLE 76 CRICKET-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 160
TABLE 77 CRICKET-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 160
7.3.3 MEALWORMS 161
TABLE 78 MEALWORM-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 161
TABLE 79 MEALWORM-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 161
7.3.4 LOCUSTS 162
TABLE 80 LOCUST-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 162
TABLE 81 LOCUST-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 163
7.3.5 OTHER INSECT PROTEINS 163
TABLE 82 OTHER INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 164
TABLE 83 OTHER INSECT PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 164
7.4 MICROBIAL PROTEIN 164
7.4.1 GROWTH IN ACCEPTANCE OF MICROBIAL PROTEIN IN AQUACULTURE AS FISHMEAL REPLACEMENT 164
TABLE 84 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 165
TABLE 85 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 165
TABLE 86 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 165
TABLE 87 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 166
TABLE 88 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (KT) 166
TABLE 89 MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (KT) 166
7.4.2 ALGAE 167
TABLE 90 ALGAE-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 167
TABLE 91 ALGAE-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 167
7.4.3 FUNGI 168
TABLE 92 FUNGI-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 168
TABLE 93 FUNGI-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 168
7.4.4 BACTERIA 169
TABLE 94 BACTERIA-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 169
TABLE 95 BACTERIA-BASED PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 169
7.4.5 OTHER MICROBIAL PROTEINS 170
TABLE 96 OTHER MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 170
TABLE 97 OTHER MICROBIAL PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 170
8 PROTEIN ALTERNATIVES MARKET, BY NATURE 171
8.1 INTRODUCTION 172
FIGURE 57 PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024 VS. 2029 (USD MILLION) 172
TABLE 98 PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 172
TABLE 99 PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 173
8.2 CONVENTIONAL 173
8.2.1 GROWTH IN UTILIZATION OF PLANT-BASED FOOD PRODUCTS IN FOOD AND FEED INDUSTRIES 173
TABLE 100 CONVENTIONAL PLANT-BASED PROTEIN MARKET, BY REGION, 2020–2023 (USD MILLION) 173
TABLE 101 CONVENTIONAL PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 174
8.3 ORGANIC 174
8.3.1 GROWTH OF ORGANIC PLANT-BASED PROTEIN PRODUCTS TO BE FUELED BY RISING DEMAND FOR CLEAN-LABEL INGREDIENTS 174
TABLE 102 ORGANIC PLANT-BASED PROTEIN MARKET, BY REGION, 2020–2023 (USD MILLION) 175
TABLE 103 ORGANIC PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 175
9 PROTEIN ALTERNATIVES MARKET, BY FORM 176
9.1 INTRODUCTION 177
FIGURE 58 PROTEIN ALTERNATIVES MARKET, BY FORM, 2024 VS. 2029 (USD MILLION) 177
TABLE 104 PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 177
TABLE 105 PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 178
9.2 DRY 178
9.2.1 GREATER VERSATILITY TO INCREASE APPLICATION OF DRY PROTEIN IN PLANT-BASED FOOD & BEVERAGE INDUSTRY 178
TABLE 106 DRY PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 179
TABLE 107 DRY PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 179
9.3 LIQUID 179
9.3.1 HIGHER PROTEIN ENRICHMENT REQUIREMENTS IN LIQUID NUTRITIONAL SUPPLEMENTS 179
TABLE 108 LIQUID PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 180
TABLE 109 LIQUID PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 180
10 PROTEIN ALTERNATIVES MARKET, BY APPLICATION 181
10.1 INTRODUCTION 182
FIGURE 59 PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION) 182
TABLE 110 PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 183
TABLE 111 PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 183
10.2 FOOD & BEVERAGES 183
10.2.1 RISE IN CONSUMPTION OF PLANT-BASED MEAT AND DAIRY ALTERNATIVES 183
TABLE 112 PROTEIN ALTERNATIVES MARKET IN FOOD & BEVERAGES, BY REGION, 2020–2023 (USD MILLION) 184
TABLE 113 PROTEIN ALTERNATIVES MARKET IN FOOD & BEVERAGES, BY REGION, 2024–2029 (USD MILLION) 185
TABLE 114 PROTEIN ALTERNATIVES MARKET IN FOOD & BEVERAGES, BY SUBTYPE, 2020–2023 (USD MILLION) 185
TABLE 115 PROTEIN ALTERNATIVES MARKET IN FOOD & BEVERAGES, BY SUBTYPE, 2024–2029 (USD MILLION) 185
10.2.2 MEAT ALTERNATIVES 186
TABLE 116 PROTEIN ALTERNATIVES MARKET IN MEAT ALTERNATIVES, BY REGION, 2020–2023 (USD MILLION) 186
TABLE 117 PROTEIN ALTERNATIVES MARKET IN MEAT ALTERNATIVES, BY REGION, 2024–2029 (USD MILLION) 187
10.2.2.1 Meatballs & nuggets 187
10.2.2.2 Sausages 188
10.2.2.3 Burgers 188
10.2.2.4 Other Meat Alternatives 188
FIGURE 60 PROTEIN ALTERNATIVES MARKET SHARE IN MEAT ALTERNATIVES, BY SUBAPPLICATION, 2023 188
10.2.3 DAIRY ALTERNATIVES 189
TABLE 118 PROTEIN ALTERNATIVES MARKET IN DAIRY ALTERNATIVES, BY REGION, 2020–2023 (USD MILLION) 189
TABLE 119 PROTEIN ALTERNATIVES MARKET IN DAIRY ALTERNATIVES, BY REGION, 2024–2029 (USD MILLION) 189
10.2.3.1 Milk Substitute 190
FIGURE 61 PLANT-BASED MILK SALES GROWTH, 2016–2022 (USD MILLION) 190
10.2.3.2 Cheese Alternatives 190
10.2.3.3 Yogurt Substitutes 191
10.2.3.4 Ice-cream Substitutes 191
FIGURE 62 PROTEIN ALTERNATIVES MARKET SHARE IN DAIRY ALTERNATIVES, BY SUBAPPLICATION, 2023 191
10.2.4 PROTEIN SUPPLEMENTS 192
TABLE 120 PROTEIN ALTERNATIVES MARKET IN PROTEIN SUPPLEMENTS, BY REGION, 2020–2023 (USD MILLION) 192
TABLE 121 PROTEIN ALTERNATIVES MARKET IN PROTEIN SUPPLEMENTS, BY REGION, 2024–2029 (USD MILLION) 192
10.2.4.1 Bars 192
10.2.4.2 Powders 193
10.2.4.3 Protein Shakes 193
10.2.4.4 Other Protein Supplements 193
FIGURE 63 PROTEIN ALTERNATIVES MARKET SHARE IN PROTEIN SUPPLEMENTS, BY SUBAPPLICATION, 2023 193
10.2.5 FUNCTIONAL FOOD 194
TABLE 122 PROTEIN ALTERNATIVES MARKET IN FUNCTIONAL FOOD, BY REGION, 2020–2023 (USD MILLION) 194
TABLE 123 PROTEIN ALTERNATIVES MARKET IN FUNCTIONAL FOOD, BY REGION, 2024–2029 (USD MILLION) 194
10.2.5.1 Fortified Cereals 195
10.2.5.2 RTD Beverages 195
10.2.5.3 Other Functional Food 195
FIGURE 64 PROTEIN ALTERNATIVES MARKET IN FUNCTIONAL FOOD, BY SUBAPPLICATION, 2023 195
10.2.6 CONVENIENCE FOOD 196
TABLE 124 PROTEIN ALTERNATIVES MARKET IN CONVENIENCE FOOD, BY REGION, 2020–2023 (USD MILLION) 196
TABLE 125 PROTEIN ALTERNATIVES MARKET IN CONVENIENCE FOOD, BY REGION, 2024–2029 (USD MILLION) 196
10.2.6.1 Baked Goods 197
10.2.6.2 Snacks 197
10.2.6.3 Sauces, Gravies, and Soups 197
10.2.6.4 Spreads 197
10.2.6.5 Other Convenience Foods 198
FIGURE 65 PROTEIN ALTERNATIVES MARKET IN CONVENIENCE FOOD, BY SUBAPPLICATION, 2023 198
10.3 ANIMAL FEED 198
10.3.1 GROWING DEMAND FOR CLEAN-LABEL AND SUSTAINABLE FEED PRODUCTS 198
TABLE 126 PROTEIN ALTERNATIVES MARKET IN ANIMAL FEED, BY REGION, 2020–2023 (USD MILLION) 199
TABLE 127 PROTEIN ALTERNATIVES MARKET IN ANIMAL FEED, BY REGION, 2024–2029 (USD MILLION) 199
TABLE 128 PROTEIN ALTERNATIVES MARKET IN ANIMAL FEED, BY SUBTYPE, 2020–2023 (USD MILLION) 199
TABLE 129 PROTEIN ALTERNATIVES MARKET IN ANIMAL FEED, BY SUBTYPE, 2024–2029 (USD MILLION) 200
10.3.2 POULTRY 200
TABLE 130 PROTEIN ALTERNATIVES MARKET IN POULTRY FEED, BY REGION, 2020–2023 (USD MILLION) 201
TABLE 131 PROTEIN ALTERNATIVES MARKET IN POULTRY FEED, BY REGION, 2024–2029 (USD MILLION) 201
10.3.3 SWINE 201
TABLE 132 PROTEIN ALTERNATIVES MARKET IN SWINE FEED, BY REGION, 2020–2023 (USD MILLION) 202
TABLE 133 PROTEIN ALTERNATIVES MARKET IN SWINE FEED, BY REGION, 2024–2029 (USD MILLION) 202
10.3.4 RUMINANTS 202
TABLE 134 PROTEIN ALTERNATIVES MARKET IN RUMINANT FEED, BY REGION, 2020–2023 (USD MILLION) 203
TABLE 135 PROTEIN ALTERNATIVES MARKET IN RUMINANT FEED, BY REGION, 2024–2029 (USD MILLION) 203
10.3.5 AQUACULTURE 203
TABLE 136 PROTEIN ALTERNATIVES MARKET IN AQUAFEED, BY REGION, 2020–2023 (USD MILLION) 204
TABLE 137 PROTEIN ALTERNATIVES MARKET IN AQUAFEED, BY REGION, 2024–2029 (USD MILLION) 204
10.4 PET FOOD 205
10.4.1 VARIETY OF ALTERNATIVE PROTEINS AVAILABLE ALLOWS FOR DIVERSIFICATION AND INNOVATION IN PET FOOD PRODUCTS 205
TABLE 138 PROTEIN ALTERNATIVES MARKET IN PET FOOD, BY REGION, 2020–2023 (USD MILLION) 205
TABLE 139 PROTEIN ALTERNATIVES MARKET IN PET FOOD, BY REGION, 2024–2029 (USD MILLION) 205
TABLE 140 PROTEIN ALTERNATIVES MARKET IN PET FOOD, BY SUBTYPE, 2020–2023 (USD MILLION) 206
TABLE 141 PROTEIN ALTERNATIVES MARKET IN PET FOOD, BY SUBTYPE, 2024–2029 (USD MILLION) 206
10.4.2 CAT FOOD 206
TABLE 142 PROTEIN ALTERNATIVES MARKET IN CAT FOOD, BY REGION, 2020–2023 (USD MILLION) 206
TABLE 143 PROTEIN ALTERNATIVES MARKET IN CAT FOOD, BY REGION, 2024–2029 (USD MILLION) 207
10.4.3 DOG FOOD 207
TABLE 144 PROTEIN ALTERNATIVES MARKET IN DOG FOOD, BY REGION, 2020–2023 (USD MILLION) 207
TABLE 145 PROTEIN ALTERNATIVES MARKET IN DOG FOOD, BY REGION, 2024–2029 (USD MILLION) 208
10.4.4 OTHER PET FOOD 208
TABLE 146 PROTEIN ALTERNATIVES MARKET IN OTHER PET FOOD, BY REGION, 2020–2023 (USD MILLION) 208
TABLE 147 PROTEIN ALTERNATIVES MARKET IN OTHER PET FOOD, BY REGION, 2024–2029 (USD MILLION) 209
11 PROTEIN ALTERNATIVES MARKET, BY PRODUCTION PROCESS 210
11.1 INTRODUCTION 210
11.2 PLANT PROTEIN PRODUCTION PROCESS 210
11.2.1 EXTRUSION 210
11.2.1.1 Protein extraction 210
11.2.1.2 Protein purification 210
11.2.1.3 Heat treatment 210
11.2.1.4 Starch/fiber processing 211
11.2.1.5 Whey treatment system 211
11.3 INSECT PROTEIN PRODUCTION PROCESS 211
11.3.1 ULTRASONIC EXTRACTION 211
11.3.1.1 Preparation of Insect Larvae 211
11.3.1.2 Larval Disruption 211
11.3.1.3 Defatting 211
11.3.1.4 Ultrasonication 211
11.3.1.5 Centrifugation or Filtration 212
11.3.1.6 Protein Analysis and Storage 212
11.4 MICROBIAL PROTEIN PRODUCTION PROCESS 212
11.4.1 ULTRASOUND-ASSISTED EXTRACTION (UAE) 212
12 PROTEIN ALTERNATIVES MARKET, BY REGION 213
12.1 INTRODUCTION 214
FIGURE 66 THAILAND TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD 215
TABLE 148 PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 215
TABLE 149 PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 216
TABLE 150 PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (KT) 216
TABLE 151 PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (KT) 216
12.2 NORTH AMERICA 217
FIGURE 67 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET SNAPSHOT 218
12.2.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS 218
FIGURE 68 NORTH AMERICA: INFLATION RATES, BY COUNTRY, 2017–2022 219
FIGURE 69 NORTH AMERICA: RECESSION IMPACT ANALYSIS 220
TABLE 152 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 220
TABLE 153 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 221
TABLE 154 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 221
TABLE 155 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 221
TABLE 156 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 221
TABLE 157 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 222
TABLE 158 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 222
TABLE 159 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 222
TABLE 160 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 223
TABLE 161 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 223
TABLE 162 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 223
TABLE 163 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 224
TABLE 164 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 224
TABLE 165 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 224
TABLE 166 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 224
TABLE 167 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 225
TABLE 168 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 225
TABLE 169 NORTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 225
12.2.2 US 225
12.2.2.1 Rise in awareness regarding environmental and personal health benefits to drive preference for plant and insect protein 225
TABLE 170 US: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 226
TABLE 171 US: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 227
12.2.3 CANADA 227
12.2.3.1 Rise in investments by prominent players to drive production 227
TABLE 172 CANADA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 228
TABLE 173 CANADA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 228
12.2.4 MEXICO 228
12.2.4.1 Evolving consumer preferences and increasing demand for nutritious pet foods 228
TABLE 174 MEXICO: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 229
TABLE 175 MEXICO: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 229
12.3 EUROPE 229
12.3.1 EUROPE: RECESSION IMPACT ANALYSIS 230
FIGURE 70 EUROPE: INFLATION RATES, BY COUNTRY, 2017–2022 231
FIGURE 71 EUROPE: RECESSION IMPACT ANALYSIS 232
TABLE 176 EUROPE: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 232
TABLE 177 EUROPE: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 232
TABLE 178 EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 233
TABLE 179 EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 233
TABLE 180 EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 233
TABLE 181 EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 233
TABLE 182 EUROPE: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 234
TABLE 183 EUROPE: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 234
TABLE 184 EUROPE: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 234
TABLE 185 EUROPE: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 235
TABLE 186 EUROPE: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 235
TABLE 187 EUROPE: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 235
TABLE 188 EUROPE: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 236
TABLE 189 EUROPE: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 236
TABLE 190 EUROPE: PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 236
TABLE 191 EUROPE: PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 236
TABLE 192 EUROPE: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 237
TABLE 193 EUROPE: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 237
12.3.2 GERMANY 237
12.3.2.1 Greater dependence on plant-based foods and high adoption rate of flexitarian diets 237
TABLE 194 GERMANY: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 238
TABLE 195 GERMANY: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 238
12.3.3 UK 238
12.3.3.1 Increase in vegan population in UK 238
TABLE 196 UK: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 239
TABLE 197 UK: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 239
12.3.4 ITALY 239
12.3.4.1 Rapidly changing consumer preferences from conventional to plant-based protein 239
TABLE 198 ITALY: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 240
TABLE 199 ITALY: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 240
12.3.5 NETHERLANDS 240
12.3.5.1 Increase in popularity of plant-based foods due to their health and environmental benefits 240
TABLE 200 NETHERLANDS: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 241
TABLE 201 NETHERLANDS: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 241
12.3.6 FRANCE 241
12.3.6.1 Government support to develop domestic plant protein production and reduce imports 241
TABLE 202 FRANCE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 242
TABLE 203 FRANCE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 242
12.3.7 REST OF EUROPE 242
TABLE 204 REST OF EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 243
TABLE 205 REST OF EUROPE: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 243
12.4 ASIA PACIFIC 243
FIGURE 72 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET SNAPSHOT 244
12.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 244
FIGURE 73 ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2017–2022 245
FIGURE 74 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 246
TABLE 206 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 246
TABLE 207 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 247
TABLE 208 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 247
TABLE 209 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 247
TABLE 210 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 248
TABLE 211 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 248
TABLE 212 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 248
TABLE 213 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 249
TABLE 214 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 249
TABLE 215 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 249
TABLE 216 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 250
TABLE 217 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 250
TABLE 218 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 250
TABLE 219 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 251
TABLE 220 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 251
TABLE 221 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 251
TABLE 222 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 251
TABLE 223 ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 252
12.4.2 CHINA 252
12.4.2.1 Demand for products with health benefits to drive market growth 252
TABLE 224 CHINA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 253
TABLE 225 CHINA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 253
12.4.3 JAPAN 253
12.4.3.1 Government support and presence of active players to drive market 253
TABLE 226 JAPAN: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 254
TABLE 227 JAPAN: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 254
12.4.4 INDIA 254
12.4.4.1 Evolving dietary preferences and rise in incidence of coronary heart diseases to drive demand for plant-based protein 254
TABLE 228 INDIA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 255
TABLE 229 INDIA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 255
12.4.5 AUSTRALIA & NEW ZEALAND 255
12.4.5.1 Investments from key players and rising vegan population to drive growth 255
TABLE 230 AUSTRALIA & NEW ZEALAND: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 256
TABLE 231 AUSTRALIA & NEW ZEALAND: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 256
12.4.6 MALAYSIA 257
12.4.6.1 Rise in export opportunities for insect protein 257
TABLE 232 MALAYSIA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 257
TABLE 233 MALAYSIA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 258
12.4.7 THAILAND 258
12.4.7.1 Rise in awareness regarding environmental impact of meat industry 258
TABLE 234 THAILAND: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 258
TABLE 235 THAILAND: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 259
12.4.8 REST OF ASIA PACIFIC 259
TABLE 236 REST OF ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 259
TABLE 237 REST OF ASIA PACIFIC: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 259
12.5 SOUTH AMERICA 260
12.5.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 260
FIGURE 75 SOUTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2017–2022 261
FIGURE 76 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 261
TABLE 238 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 261
TABLE 239 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 262
TABLE 240 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 262
TABLE 241 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 262
TABLE 242 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 262
TABLE 243 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 263
TABLE 244 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 263
TABLE 245 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 263
TABLE 246 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 264
TABLE 247 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 264
TABLE 248 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 264
TABLE 249 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 265
TABLE 250 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 265
TABLE 251 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 265
TABLE 252 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 265
TABLE 253 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 266
TABLE 254 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 266
TABLE 255 SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 266
12.5.2 BRAZIL 266
12.5.2.1 High processing and export capabilities coupled with increased adoption of plant-based foods 266
TABLE 256 BRAZIL: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 267
TABLE 257 BRAZIL: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 267
12.5.3 ARGENTINA 268
12.5.3.1 Environmental, nutritional, and animal welfare concerns among youth to drive demand for plant-based protein 268
TABLE 258 ARGENTINA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 268
TABLE 259 ARGENTINA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 268
12.5.4 REST OF SOUTH AMERICA 269
TABLE 260 REST OF SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 269
TABLE 261 REST OF SOUTH AMERICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 269
12.6 REST OF THE WORLD (ROW) 270
12.6.1 ROW: RECESSION IMPACT ANALYSIS 270
FIGURE 77 ROW: INFLATION RATES, BY KEY COUNTRY, 2017–2022 271
FIGURE 78 ROW: RECESSION IMPACT ANALYSIS, 2022 271
TABLE 262 ROW: PROTEIN ALTERNATIVES MARKET, BY REGION, 2020–2023 (USD MILLION) 271
TABLE 263 ROW: PROTEIN ALTERNATIVES MARKET, BY REGION, 2024–2029 (USD MILLION) 272
TABLE 264 ROW: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 272
TABLE 265 ROW: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 272
TABLE 266 ROW: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (KT) 272
TABLE 267 ROW: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (KT) 273
TABLE 268 ROW: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 273
TABLE 269 ROW: PROTEIN ALTERNATIVES MARKET FOR PLANT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 273
TABLE 270 ROW: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 274
TABLE 271 ROW: PROTEIN ALTERNATIVES MARKET FOR INSECT PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 274
TABLE 272 ROW: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2020–2023 (USD MILLION) 274
TABLE 273 ROW: PROTEIN ALTERNATIVES MARKET FOR MICROBIAL PROTEIN, BY TYPE, 2024–2029 (USD MILLION) 275
TABLE 274 ROW: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 275
TABLE 275 ROW: PROTEIN ALTERNATIVES MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 275
TABLE 276 ROW: PROTEIN ALTERNATIVES MARKET, BY FORM, 2020–2023 (USD MILLION) 275
TABLE 277 ROW: PROTEIN ALTERNATIVES MARKET, BY FORM, 2024–2029 (USD MILLION) 276
TABLE 278 ROW: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2020–2023 (USD MILLION) 276
TABLE 279 ROW: PROTEIN ALTERNATIVES MARKET, BY NATURE, 2024–2029 (USD MILLION) 276
12.6.2 AFRICA 276
12.6.2.1 Favorable processing conditions coupled with rising consumer awareness about health issues 276
TABLE 280 AFRICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 277
TABLE 281 AFRICA: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 277
12.6.3 MIDDLE EAST 278
12.6.3.1 Demand for plant-based convenience foods to drive growth of protein alternative industry 278
TABLE 282 MIDDLE EAST: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2020–2023 (USD MILLION) 278
TABLE 283 MIDDLE EAST: PROTEIN ALTERNATIVES MARKET, BY SOURCE, 2024–2029 (USD MILLION) 278
13 COMPETITIVE LANDSCAPE 279
13.1 OVERVIEW 279
13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 279
TABLE 284 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PROTEIN ALTERNATIVE PLAYERS 280
13.3 REVENUE ANALYSIS 283
FIGURE 79 REVENUE ANALYSIS FOR KEY COMPANIES IN LAST FIVE YEARS, 2019–2023 (USD BILLION) 283
13.4 MARKET SHARE ANALYSIS 284
FIGURE 80 SHARE OF LEADING COMPANIES IN PROTEIN ALTERNATIVES MARKET, 2023 284
13.4.1 MARKET RANKING ANALYSIS 285
FIGURE 81 RANKING OF TOP FIVE PLAYERS IN PROTEIN ALTERNATIVES MARKET 285
TABLE 285 PROTEIN ALTERNATIVES MARKET: DEGREE OF COMPETITION, 2023 285
13.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 286
13.5.1 STARS 287
13.5.2 EMERGING LEADERS 287
13.5.3 PERVASIVE PLAYERS 287
13.5.4 PARTICIPANTS 287
FIGURE 82 PROTEIN ALTERNATIVES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 288
13.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 289
13.5.5.1 Company footprint 289
FIGURE 83 COMPANY FOOTPRINT 289
13.5.5.2 Regional footprint 290
TABLE 286 REGIONAL FOOTPRINT 290
13.5.5.3 Source footprint 291
TABLE 287 SOURCE FOOTPRINT 291
13.5.5.4 Application footprint 292
TABLE 288 APPLICATION FOOTPRINT 292
13.5.5.5 Form footprint 293
TABLE 289 FORM FOOTPRINT 293
13.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 293
13.6.1 PROGRESSIVE COMPANIES 293
13.6.2 RESPONSIVE COMPANIES 294
13.6.3 DYNAMIC COMPANIES 294
13.6.4 STARTING BLOCKS 294
FIGURE 84 PROTEIN ALTERNATIVES MARKET: COMPANY EVALUATION MATRIX (OTHER PLAYERS), 2023 295
13.6.5 COMPETITIVE BENCHMARKING, START-UPS/SMES, 2023 296
13.6.5.1 Detailed list of key start-ups/SMEs 296
TABLE 290 PROTEIN ALTERNATIVES MARKET: DETAILED LIST OF KEY START-UPS/SMES 296
13.6.5.2 Competitive benchmarking of start-ups/SMEs 297
TABLE 291 PROTEIN ALTERNATIVES MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES 297
13.7 COMPANY VALUATION AND FINANCIAL METRICS 298
FIGURE 85 COMPANY VALUATION FOR NINE MAJOR PLAYERS IN PROTEIN ALTERNATIVES MARKET, 2023 (USD BILLION) 298
FIGURE 86 EV/EBITDA OF MAJOR PLAYERS, 2023 299
13.8 BRAND/PRODUCT COMPARISON 299
FIGURE 87 PROTEIN ALTERNATIVES MARKET: BRAND/PRODUCT COMPARISON 299
13.9 COMPETITIVE SCENARIO AND TRENDS 300
13.9.1 PRODUCT LAUNCHES 300
TABLE 292 PROTEIN ALTERNATIVES MARKET: PRODUCT LAUNCHES, JANUARY 2020–FEBRUARY 2024 300
13.9.2 DEALS 301
TABLE 293 PROTEIN ALTERNATIVES MARKET: DEALS, JANUARY 2020–FEBRUARY 2024 301
13.9.3 EXPANSIONS 304
TABLE 294 PROTEIN ALTERNATIVES MARKET: EXPANSIONS, JANUARY 2020–JUNE 2022 304
14 COMPANY PROFILES 306
14.1 KEY PLAYERS 306
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1.1 CARGILL, INCORPORATED 306
TABLE 295 CARGILL, INCORPORATED: BUSINESS OVERVIEW 306
FIGURE 88 CARGILL, INCORPORATED: COMPANY SNAPSHOT 307
TABLE 296 CARGILL, INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 307
TABLE 297 CARGILL, INCORPORATED: DEALS 308
TABLE 298 CARGILL, INCORPORATED: EXPANSIONS 309
TABLE 299 CARGILL, INCORPORATED: OTHER DEVELOPMENTS 309
14.1.2 ADM 311
TABLE 300 ADM: BUSINESS OVERVIEW 311
FIGURE 89 ADM: COMPANY SNAPSHOT 312
TABLE 301 ADM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 312
TABLE 302 ADM: PRODUCT LAUNCHES 314
TABLE 303 ADM: DEALS 314
TABLE 304 ADM: OTHER DEVELOPMENTS 315
14.1.3 KERRY GROUP PLC 317
TABLE 305 KERRY GROUP PLC: BUSINESS OVERVIEW 317
FIGURE 90 KERRY GROUP PLC: COMPANY SNAPSHOT 318
TABLE 306 KERRY GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 319
TABLE 307 KERRY GROUP PLC: DEALS 319
TABLE 308 KERRY GROUP PLC: OTHER DEVELOPMENTS 320
14.1.4 INTERNATIONAL FLAVORS & FRAGRANCES INC. 321
TABLE 309 INTERNATIONAL FLAVORS & FRAGRANCES INC.: BUSINESS OVERVIEW 321
FIGURE 91 INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT 322
TABLE 310 INTERNATIONAL FLAVORS & FRAGRANCES INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 323
14.1.5 INGREDION 325
TABLE 311 INGREDION: BUSINESS OVERVIEW 325
FIGURE 92 INGREDION: COMPANY SNAPSHOT 326
TABLE 312 INGREDION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 326
TABLE 313 INGREDION: PRODUCT LAUNCHES 327
TABLE 314 INGREDION: DEALS 328
TABLE 315 INGREDION: EXPANSIONS 328
14.1.6 WILMAR INTERNATIONAL LTD. 330
TABLE 316 WILMAR INTERNATIONAL LTD.: BUSINESS OVERVIEW 330
FIGURE 93 WILMAR INTERNATIONAL LTD.: COMPANY SNAPSHOT 331
TABLE 317 WILMAR INTERNATIONAL LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 331
14.1.7 ROQUETTE FRÈRES 333
TABLE 318 ROQUETTE FRÈRES: BUSINESS OVERVIEW 333
TABLE 319 ROQUETTE FRÈRES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 333
TABLE 320 ROQUETTE FRÈRES: PRODUCT LAUNCHES 334
TABLE 321 ROQUETTE FRÈRES: DEALS 334
TABLE 322 ROQUETTE FRÈRES: EXPANSIONS 335
14.1.8 GLANBIA PLC 336
TABLE 323 GLANBIA PLC: BUSINESS OVERVIEW 336
FIGURE 94 GLANBIA PLC: COMPANY SNAPSHOT 337
TABLE 324 GLANBIA PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 337
TABLE 325 GLANBIA PLC: PRODUCT LAUNCHES 338
TABLE 326 GLANBIA PLC: DEALS 338
14.1.9 DSM-FIRMENICH 339
TABLE 327 DSM-FIRMENICH: BUSINESS OVERVIEW 339
FIGURE 95 DSM-FIRMENICH: COMPANY SNAPSHOT 340
TABLE 328 DSM-FIRMENICH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 340
TABLE 329 DSM-FIRMENICH: DEALS 341
14.1.10 AGT FOOD AND INGREDIENTS 342
TABLE 330 AGT FOOD AND INGREDIENTS: BUSINESS OVERVIEW 342
TABLE 331 AGT FOOD AND INGREDIENTS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 342
TABLE 332 AGT FOOD AND INGREDIENTS: DEALS 343
14.1.11 TATE & LYLE 344
TABLE 333 TATE & LYLE: BUSINESS OVERVIEW 344
FIGURE 96 TATE & LYLE: COMPANY SNAPSHOT 345
TABLE 334 TATE & LYLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 345
TABLE 335 TATE & LYLE: DEALS 346
14.1.12 BURCON 347
TABLE 336 BURCON: BUSINESS OVERVIEW 347
FIGURE 97 BURCON: COMPANY SNAPSHOT 347
TABLE 337 BURCON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 348
TABLE 338 BURCON: DEALS 348
TABLE 339 BURCON: EXPANSIONS 349
14.1.13 EMSLAND GROUP 350
TABLE 340 EMSLAND GROUP: BUSINESS OVERVIEW 350
TABLE 341 EMSLAND GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 350
TABLE 342 EMSLAND GROUP: DEALS 351
14.1.14 GLOBAL BUGS 352
TABLE 343 GLOBAL BUGS: BUSINESS OVERVIEW 352
TABLE 344 GLOBAL BUGS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 352
TABLE 345 GLOBAL BUGS: DEALS 353
14.1.15 YNSECT 354
TABLE 346 YNSECT: BUSINESS OVERVIEW 354
TABLE 347 YNSECT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 354
TABLE 348 YNSECT: PRODUCT LAUNCHES 355
TABLE 349 YNSECT: DEALS 355
TABLE 350 YNSECT: EXPANSIONS 355
TABLE 351 YNSECT: OTHER DEVELOPMENTS 357
14.2 OTHER PLAYERS 358
14.2.1 PURIS 358
TABLE 352 PURIS: BUSINESS OVERVIEW 358
TABLE 353 PURIS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 358
TABLE 354 PURIS: EXPANSIONS 359
TABLE 355 PURIS: OTHER DEVELOPMENTS 359
14.2.2 COSUCRA 360
TABLE 356 COSUCRA: BUSINESS OVERVIEW 360
TABLE 357 COSUCRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 360
TABLE 358 COSUCRA: PRODUCT LAUNCHES 361
TABLE 359 COSUCRA: DEALS 361
TABLE 360 COSUCRA: EXPANSIONS 361
14.2.3 BENEO GMBH 363
TABLE 361 BENEO GMBH: BUSINESS OVERVIEW 363
TABLE 362 BENEO GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 363
TABLE 363 BENEO GMBH: DEALS 364
TABLE 364 BENEO GMBH: EXPANSIONS 364
TABLE 365 BENEO GMBH: OTHER DEVELOPMENTS 365
14.2.4 SOTEXPRO 366
TABLE 366 SOTEXPRO: BUSINESS OVERVIEW 366
TABLE 367 SOTEXPRO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 366
14.2.5 AMCO PROTEINS 368
TABLE 368 AMCO PROTEINS: BUSINESS OVERVIEW 368
TABLE 369 AMCO PROTEINS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 368
TABLE 370 AMCO PROTEINS: EXPANSIONS 369
14.2.6 HEXAFLY 370
TABLE 371 HEXAFLY: BUSINESS OVERVIEW 370
TABLE 372 HEXAFLY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 370
TABLE 373 HEXAFLY: DEALS 370
14.2.7 CHAPUL, LLC 372
TABLE 374 CHAPUL, LLC: BUSINESS OVERVIEW 372
TABLE 375 CHAPUL, LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 372
TABLE 376 CHAPUL, LLC: OTHER DEVELOPMENTS 373
14.2.8 AUSTRALIAN PLANT PROTEINS PTY LTD. 374
TABLE 377 AUSTRALIAN PLANT PROTEINS PTY LTD.: COMPANY OVERVIEW 374
14.2.9 SHANDONG JIANYUAN GROUP 375
TABLE 378 SHANDONG JIANYUAN GROUP: COMPANY OVERVIEW 375
14.2.10 MYCORENA 375
TABLE 379 MYCORENA: COMPANY OVERVIEW 375
14.2.11 CALYSTA INC. 376
TABLE 380 CALYSTA INC.: COMPANY OVERVIEW 376
14.2.12 NEXTPROTEIN 377
TABLE 381 NEXTPROTEIN: COMPANY OVERVIEW 377
14.2.13 QUORN 378
TABLE 382 QUORN: COMPANY OVERVIEW 378
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
15 ADJACENT & RELATED MARKETS 379
15.1 INTRODUCTION 379
TABLE 383 ADJACENT MARKETS 379
15.2 STUDY LIMITATIONS 379
15.3 PEA PROTEIN MARKET 379
15.3.1 MARKET DEFINITION 379
15.3.2 MARKET OVERVIEW 380
TABLE 384 PEA PROTEIN MARKET, BY FORM, 2020–2023 (USD MILLION) 380
TABLE 385 PEA PROTEIN MARKET, BY FORM, 2024–2029 (USD MILLION) 380
15.4 SOY PROTEIN INGREDIENTS MARKET 381
15.4.1 MARKET DEFINITION 381
15.4.2 MARKET OVERVIEW 381
TABLE 386 SOY PROTEIN INGREDIENTS MARKET, BY NATURE, 2018–2021 (USD MILLION) 382
TABLE 387 SOY PROTEIN INGREDIENTS MARKET, BY NATURE, 2022–2027 (USD MILLION) 382
15.5 PROTEIN INGREDIENTS MARKET 382
15.5.1 MARKET DEFINITION 382
15.5.2 MARKET OVERVIEW 382
TABLE 388 PROTEIN INGREDIENTS MARKET, BY FORM, 2019–2022 (USD MILLION) 383
TABLE 389 PROTEIN INGREDIENTS MARKET, BY FORM, 2023–2028 (USD MILLION) 383
15.6 INSECT PROTEIN MARKET 383
15.6.1 MARKET DEFINITION 383
15.6.2 MARKET OVERVIEW 383
TABLE 390 INSECT PROTEIN MARKET, BY DISTRIBUTION CHANNEL, 2019–2021 (USD MILLION) 384
TABLE 391 INSECT PROTEIN MARKET, BY DISTRIBUTION CHANNEL, 2022–2027 (USD MILLION) 384
16 APPENDIX 385
16.1 DISCUSSION GUIDE 385
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 392
16.3 CUSTOMIZATION OPTIONS 394
16.4 RELATED REPORTS 394
16.5 AUTHOR DETAILS 395
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