Allied Market Research published a report, titled, “Protein Alternatives Market by Source (Plant Protein, Mycoprotein, Algae Protein, Insect Protein), by Application (Food and Beverages, Dietary replacers, Animal Feed, Others), by Distribution Channel (Hypermarket and Supermarket, Chemist or Drugstore, Specialty Store, Online Store): Global Opportunity Analysis and Industry Forecast, 2021- 2031″. According to the report, the global protein alternatives industry generated $16.6 billion in 2021, and is anticipated to generate $73.9 billion by 2031, witnessing a CAGR of 16.2% from 2022 to 2031.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗧𝗵𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙 𝗢𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.alliedmarketresearch.com/request-sample/11337
Prime determinants of growth
The rise in the consumption of clean proteins as well as growing awareness of consumers and adoption of proteins from sustainably derived sources drive the growth of the global protein alternatives market. However, stringent regulatory compliances along with the inability to digest protein restrict the market growth. Moreover, growing R&D in food technology and the regular launch of the new product by key players present new opportunities in the coming years.
𝗧𝗼𝗽 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲𝗱:
The major players analyzed for the global Protein alternatives industry are Armstrong Cricket Farm Georgia, Aspire Food Group, Axiom Foods Inc, Burcon NutraScience Corporation, Enterra Feed Corporation, Entomo Farms, Glanbia PLC, Now Foods, Pond Technologies Holdings Inc, Protix B.V, Archer Daniels Midland Company. Bluebiotech International GmbH, Calysta, Inc., Cargill, Incorporated, Cellena Inc., JR Unique Foods Ltd., Kerry Group Plc, Plantible Foods, Inc., Roquette Frères, String Bio, MycoTechnology, Inc, Farbest Brands.
𝗕𝘂𝘆 𝗡𝗼𝘄 & 𝗚𝗲𝘁 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 : https://www.alliedmarketresearch.com/checkout-final/ff06c7bcf76ef1e17ad9792f96e7b81d
𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:
In 2021, North America accounted for 41.5% share in the global protein alternatives market and is expected to maintain its dominance during the forecast period. Consumers in North America are worried about the additives used in food. In addition, the increased consumer focus on preventive healthcare and the rise in demand for nutrient-dense components propel the sales of alternative protein, particularly in the U.S. and Canada.
𝗞𝗘𝗬 𝗙𝗜𝗡𝗗𝗜𝗡𝗚𝗦 𝗢𝗙 𝗧𝗛𝗘 𝗦𝗧𝗨𝗗𝗬
- On the basis of source, the plant protein segment was the highest revenue contributor to the market with $13862.3 million in 2021, and is estimated to reach $60171 million by 2031, with a CAGR of 15.9%.
- On the basis of application, the food & beverage segment was the highest revenue contributor to the market, with $9577.7 million in 2021, and is estimated to reach $40695.1 million by 2031, with a CAGR of 15.6%.
- On the basis of distribution channel, the Hypermarket and Supermarket Protein alternatives segment was the highest revenue contributor to the market, with $9587.2 million in 2021, and is estimated to reach $38254.1 million by 2031, with a CAGR of 14.9%.
- On the basis of region, North America was the highest revenue contributor, accounting for $5663.5 million in 2021, and is estimated to reach $24451.4 million by 2031, with a CAGR of 15.8%.
𝗚𝗲𝘁 𝗬𝗼𝘂𝗿 𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱: https://www.alliedmarketresearch.com/request-for-customization/11337
On the basis of distribution channel, the protein alternatives market is segmented into hypermarkets and supermarkets, chemist or drugstore, specialty store, and online store. The hypermarkets and supermarkets protein alternatives segment accounted for a major share of the market in 2021 and is expected to grow at a significant CAGR during the forecast period. This is attributed to the fact that the hypermarkets and supermarkets usually span over a large area and display a wide range of brands in one particular store. In addition, they are especially located near dietary supplements areas for convenience and easy accessibility.
𝗖𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝗺𝗼𝗿𝗲 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝘀𝘁𝘂𝗱𝗶𝗲𝘀 𝗽𝘂𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗯𝘆 𝗔𝗠𝗥 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵:
Hydrolyzed Collagen Market – https://www.alliedmarketresearch.com/hydrolyzed-collagen-market
Polyphenol Market – https://www.alliedmarketresearch.com/polyphenol-market
Textured Soy Protein Market – https://www.alliedmarketresearch.com/textured-soy-protein-market
Food Starch Market – https://www.alliedmarketresearch.com/food-starch-market-A06030
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com