Alternative Proteins Market By Product Type (Soy Protein, Pea, Rice, Canola, Third Generation Protein), By Application (Weight Management, Sports Nutrition, Positive Nutrition, Health Nutrition) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

The global alternative protein market was valued at USD 7.75 billion in 2016. The alternative protein market is mainly driven by increasing health consciousness, a shift in consumer preference towards natural plant proteins, and increasing demand from general middle-class consumers. The alternative protein market has been segmented on the basis of product type, application, and region.

Soy protein accounted for approximately 80% of the global market's revenue share in 2016 and is expected to maintain its dominance throughout the forecast period of 2017 to 2025. However, pea protein is anticipated to be the fastest-growing segment, with a CAGR of around 8.4% during the forecast period of 2017 to 2025.

In terms of application, sports nutrition accounted for the largest share in terms of value. It is also projected to grow at the fastest CAGR of 7.7% during the forecast period of 2017 to 2025. Increased usage of alternative proteins, especially in ready-to-drink beverages and post-workout drinks, is expected to drive segment growth over the forecast period.

In 2016, the alternative protein market by region was dominated by North America, which accounted for more than 35% of the market share. Europe and Asia-Pacific followed North America. The U.S. is the largest national market for alternative proteins. Increasing demand for healthy drinks, meal replacement beverages, and high-protein products among consumers in the U.S. is driving the demand for alternative proteins. China will see the fastest growth during the forecast period, with a CAGR of 9.1% between 2017 and 2025. Factors such as increasing consumption and the growth of the food industry will support the growth of the market for alternative proteins.

Major players operating in the market are Archer Daniels Midland, Cargill Incorporated, CHS Inc., E. I. du Pont de Nemours and Company, Kerry Group, Nisshin Oillio Group, Ltd., Roquette Frères, Ruchi Soya Industries, among others.

The report titled "Global Alternative Proteins Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global Alternative Proteins market along with the market size and estimates for the duration of 2017–2025. The said research study covers an in-depth analysis of multiple market segments based on resin type, type, end-use industry, and a cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

The report also includes profiles of the leading alternative protein manufacturers, as well as their product portfolios and key developments, to assist strategic decision-makers.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the alternative protein industry
• Market drivers, market impediments, and their impact on market growth
• in-depth competitive environment analysis
• Trailing 2-year market size data (2015–2016)
• SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global alternative protein market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

For the purpose of this study, the global alternative protein market by product type is categorized into:

• Soy Protein
• Pea
• Rice
• Canola
• Third-generation protein
• Others

Soy protein is estimated to account for approximately 80% of the alternative protein market in 2016 and is expected to maintain its dominance during the forecasted period. Manufacturers are focusing on offering new and innovative alternatives that are sourced from plants, hence fueling demand for alternative proteins such as soy and pea. Changes in consumption patterns and lifestyles, coupled with increasing demand for high-nutrition foods, are expected to drive the global market for alternative proteins.

Alternative proteins have been classified into three main categories: first-generation, second-generation, and third-generation. First-generation alternative proteins include soy, which has the largest market. Second-generation alternative proteins include peas, rice, canola, etc., which account for approximately 10% of the total alternative protein market. Third-generation alternative proteins include algae and insect proteins and will also see growth because of their lower land use requirements, greenhouse gas emission potential, and high protein digestibility.

For the purpose of this study, the global alternative protein market by application is categorized into:

• Weight Management
• Sports Nutrition
• Positive Nutrition
• Healthy Nutrition
• Others

Alternative proteins find application in weight management products, sports nutrition, positive nutrition, healthy nutrition, and others (including baby food and meal replacement drinks). Alternative proteins offer various benefits, such as an increase in strength, enhanced performance, assistance in weight control, and help in maintaining a healthy lifestyle.

Proteins are considered one of the major food constituents and are preferred by fitness enthusiasts and gym users. In 2016, on the basis of application, the alternative protein market was dominated by the sports nutrition segment. This segment is projected to witness a growth of over 7.6% between 2017 and 2025. Increased usage of alternative proteins, especially in ready-to-drink beverages and post-workout drinks, is expected to drive segment growth over the forecast period. Healthy nutrition is the second-largest segment in the alternative protein application market. Due to the increasing number of people focusing on their diets, coupled with the consumer shift towards a healthy lifestyle, it is expected to support the growth of the healthy nutrition segment during the forecasted period.

On the basis of geography, the global alternative protein market is segmented into the following regions and countries:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Australia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• rest of Latin America

Middle East and Africa

• Saudi Arabia
• Africa
• Rest of the Middle East and Africa

The global alternative protein market has been segmented geography-wise, and a detailed analysis of every country has been conducted in this section. These regions include North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

The global market for alternative proteins is dominated by the North American region in terms of value, which accounts for approximately 33% of the global alternative protein market, followed by Europe and Asia Pacific. Increasing demand for healthy drinks, meal replacement beverages, and high-protein products among consumers in the U.S. is driving demand for alternative proteins. Asia Pacific is projected to grow at the fastest CAGR of 8.2% at the regional level during the forecasted period. The growing consumer preference for second and third-generation proteins, combined with a growing food industry, is expected to drive Asia-Pacific market growth. China is the fastest-growing country in the alternative protein market and is expected to witness a growth of more than 9% between 2017 and 2025. The high consumption of algae and insect-based products in China is driving demand for alternative proteins in this country.

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