Alternative Protein Market Trends

Growth Drivers

• Growing Prevalence of Veganism - Alternative proteins, such as microbial and plant-based proteins are the best options for vegan people to manage their protein intake. As of September 2021, there were nearly 79 million people who have adopted veganism, which makes up for around 1 percent of the total world’s population.
• Rise in the Number of Cattle - Soya is the primary ingredient for animal feed. The growing population of livestock is expected to boost the demand for alternative protein in animal feed. In 2021, there were around 996 million cattle in the world, which further increased to nearly 1 billion in the year 2022.
• Growing Demand for Food - To suffice the food demand of the growing population of the world, other than animal protein, alternative protein is likely to play a vital role and is expected to drive market growth as well. According to the Food and Agriculture Organization, by 2050, the demand for cereals is expected to increase from its current level of close to 2.1 billion tons to around 3 billion tons for both food and animal feed.
• Rising Innovation in Alternative Protein - For instance, Vertis Textured Pea Canola Protein, a first-of-its-kind plant protein, is introduced by Royal DSM. It is a textured vegetable protein with precise amounts of each of the nine essential amino acids required to constitute a complete protein.
• Rising Demand for Protein Supplements - Dietary supplements have become the prime ingredient in the diets of muscle-builders and gym freaks. Every 2 in five Americans often eat protein beverages and smoothies which account for 46% of the population. Moreover, most Americans consume twice as much protein as they need.

Challenges

• Insect-based proteins do not have standard regulations for their use in the food industry
• Stringent regulations for animal feed
• Allergic reactions associated with alternative protein- Silkworm, mealworm, locust, grasshopper, cicada, bee, clanis bilineata, and the food additive carmine have all been linked to food allergies to insects. Tropomyosin and arginine kinase, two pan-allergens recognized for their cross-reactivity with homologous proteins in crustaceans and house dust mites, have both been discovered as allergens from insects. Therefore, the rising risk of allergy to both humans and animals is expected to hamper the market growth.