Alternative Protein Market Growth Analysis With investment opportunities

The Business Research Company’s Alternative Protein Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The alternative protein market, encompassing protein sources beyond traditional animal agriculture like beef and poultry, is experiencing rapid expansion, driven by various factors including environmental sustainability, health consciousness, and shifting consumer preferences.

Rising Demand for Plant-Based Proteins Drives Market Growth
The increasing consumer preference for plant-based proteins is a primary driver propelling the growth of the alternative protein market. Plant-based proteins offer sustainable and ethical advantages over animal-based proteins, such as lower environmental impact and alignment with vegetarian, vegan, and plant-based diets. According to the Good Food Institute, global retail sales of plant-based meat and seafood reached $6.1 billion in 2022, marking an 8% revenue increase and a 5% weight increase from the previous year. Similarly, sales of plant-based milk, cheese, and yogurt collectively surged to $21.6 billion globally, showcasing a 7% rise. These figures underscore a significant shift towards plant-based dietary choices worldwide.

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Major Players and Market Trends
Key players in the alternative protein market such as Cargill Incorporated, Archer-Daniels-Midland Company, and Kerry Group plc are actively developing new products to gain competitive advantage. Innovations like plant-based meat products are designed to mimic the taste, texture, and nutritional profile of traditional animal meat, leveraging ingredients like pea protein and natural additives. For instance, Final Foods Inc., launched a versatile line of plant-based meats in early 2023, targeting gourmet chefs and the food service sector with options suitable for various culinary techniques.

Trends Shaping the Market
In the forecast period, the alternative protein market is anticipated to witness diversification in protein sources, mainstream adoption in foodservice sectors, premiumization through innovative products, global expansion efforts, and enhanced nutritional profiles. These trends reflect the evolving consumer preferences towards sustainable and healthier dietary options.

Market Segments
• By Source: Plant-Based, Insect-Based, Microbial-Based, Other Sources
• By Form: Dry, Liquid
• By Application: Food And Beverage, Cattle, Aquaculture, Animal Feed, Pet Food, Equine, Other Applications
•
Geographical Insights: Asia-Pacific Leading Growth
North America dominated the alternative protein market in 2023, while Asia-Pacific is poised to be the fastest-growing region in the coming years. Regional dynamics, market trends, and growth opportunities are extensively covered in the comprehensive market report.

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Alternative Protein Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Alternative Protein Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on alternative protein market size, alternative protein market drivers and trends, alternative protein market major players, competitors' revenues, market positioning, and market growth across geographies. The alternative protein market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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