Global Alternative Protein Market by Type (Plant Based and Insect Based), by Application (Weight Management, Sports Management, Health Nutrition and Positive Nutrition) – Opportunity and Forecast to 2027
Alternative proteins are extracted from various sources which include agriculture crops like pea or canola, rapeseed, aquatic biomass like duck-weed, algae, and insects or by biotechnology. Soy protein is the most leading form of alternative proteins that is consumed worldwide. Such proteins need less natural inputs to produce and accountable for making lean body tissue stronger.
According to Food and Agriculture Organisation, demand for meat products is expected to rise by around 58 per cent between 1995 and 2020 globally and there will be rise in consumption of meat from around 233 million in 2000 to around 300 million by 2020. Also, the demand for poultry meat is expected to rise by up to approximately 85%, pig meat by 45% and beef by 80% by 2020 worldwide. Hence the need for alternative options for protein will also increase with the rising demand and consumption in the market.
According to World Health Organisation, obesity increased tripled since 1975. In 2016, approximately 1.9 billion adults, 18 years and older were overweight. Out of which, around 650 million were suffering from obesity. It is recognised that meat protein is the major reason for the increasing obesity problems hence the demand is shifting towards the plant-based protein or alternative protein options.
Increased demands for plant-based protein and growing global population are the major factors that are driving the growth of the market. In addition, changing socio- economic demographics which include growing disposable incomes, rapid urbanisation and rising geriatric populations are the leading factors that will support the market growth. In addition, rising awareness owing to change in consumption pattern of protein is another significant factor propelling the market growth.
However, companies are struggling to make clear communication and marketing tools to encourage consumption and to enhance sales of these protein products. Many companies have positioned such products in the dairy/meat lanes to widen their visual appeal. There are some companies which are showing these products in separate identifiable locations to help specific consumers who follow vegetarian or vegan diets. These consumer purchasing trends are difficult to monitor and crucial to divide the consumer in sub-category according to their purchasing habits. Such types of consumption pattern may create the difficulty to assess the unmet demands of the consumers for food-industry and further may hamper the growth of the market. In addition, there are risen health concerns due to over-consumption of protein and over consumption of processed meats owing to lack of awareness of consumption of protein may impede the market growth. On the other hand, growing middle class and rising number of millennial are providing the opportunity for the market expansion.Regional Analysis
Geographically, the market can be segmented into North America, Europe, Asia- Pacific and LAMEA. Asia-pacific is expected to be fastest growing market attributed to the factors including the rising population, increasing consumption, the rising demand from middle class consumers and rapid development of food infrastructure. North America market is expected to be driven by factors such as meal replacement beverages, rising health awareness associated with intake of protein products. As consumer’s consumption pattern is shifting towards protein alternatives therefore there are some producers who developed plant-based meat. For instance, world’s leading protein brand Tyson Foods developed plant-based meat protein which has 5% of the share in global alternative protein market.
Nestle a world leading company in food industry has adopted a unique approach to alternative plant-based proteins. The company is delivering unique value chain focusing on protein innovation and doing research and development since last few decades. Last year, Nestle acquired Sweet Earth, a plant-based foods manufacturer company to expand its product portfolio and strategic partnership.Key Players
- 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
- Tyson Foods and Nestle
- Weight Management
- Sports Management
- Positive Nutrition
- Health Nutrition
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA