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Market Overview:
- Market Size and Growth: The global alternative protein market was valued at approximately USD 15.29 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2030, reaching an estimated USD 26.52 billion by 2030.
- Plant-Based Protein Segment: Specifically, the plant-based protein market is estimated at USD 14.3 billion in 2024 and is expected to grow at a CAGR of 7.5%, reaching USD 20.5 billion by 2029.
Regional Analysis:
- North America: This region holds a significant share of the market, with the U.S. leading due to a growing consumer preference for plant-based diets and increased investment in alternative protein startups.
- Europe: Europe is witnessing steady growth, particularly in countries like Germany, the UK, and France, driven by rising health consciousness and environmental concerns among consumers.
- Asia-Pacific: The Asia-Pacific region is expected to register the fastest growth, with countries such as China and Japan experiencing increased demand for alternative proteins due to urbanization and changing dietary preferences.
- Middle East & Africa: This region is projected to grow at a CAGR of 8.2% from 2024 to 2030, driven by a shift towards health and wellness, increased protein intake, and rising disposable incomes.
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Scope of the Report:
This report provides a comprehensive analysis of the plant-based and alternative proteins market, including:
- Market Segmentation: Analysis by source (e.g., soy, pea, wheat), application (e.g., food and beverages, animal feed), and form (e.g., isolates, concentrates).
- Trends and Drivers: Examination of factors such as technological advancements, consumer preferences, and regulatory developments influencing market growth.
- Competitive Landscape: Profiles of key industry players, their market strategies, and recent developments.
- Challenges and Opportunities: Identification of potential obstacles and emerging opportunities within the market.
- Forecasts: Market projections up to 2030, providing insights into future growth potential across various segments and regions.
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