The global Alfalfa Protein Concentrate market is expected to reach a market valuation of US$ 204 million by 2023, recording a CAGR of 4.7% from 2023 to 2033.
The Medicago sativa plant's Alfalfa aerial section is used to make alfalfa protein concentrate. It is a protein that is a good source of minerals, vitamins, pigments, and amino acids. It is simple to combine with smoothies, vegetable juices, and a variety of other healthy beverages. These days, it is most frequently utilized as a nutritional supplement and in the healthcare industry. Also, it is appropriate for companies that provide nourishing food. Since alfalfa protein concentrate is made from more nutritious and easily digestible plants, it can appeal to consumers who are concerned about their health.
| Attribute | Details |
|---|---|
| Alfalfa Protein Concentrate Market Size (2023E) | US$ 204 million |
| Alfalfa Protein Concentrate Market Projected Size (2033F) | US$ 324 million |
| Value CAGR (2023 to 2033) | 4.7% |
| Top 3 Countries Marketing Share | 70.5% |
As a result, it is another element that is anticipated to boost demand for alfalfa protein concentrate and propel the market's expansion. Another reason that is anticipated to enhance the sales prospects of alfalfa protein concentrate in the near future is the mounting evidence of the negative impacts caused by food products made from animals. Alfalfa protein concentrate's excellent nutritional content has been crucial in drawing customers, and the trend is expected to gain substantial traction in the coming years.
In our new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for Alfalfa Protein Concentrate.
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| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 4.3% |
| Jul–Dec (H2), 2021 (A) | 4.4% |
| Jan–Jun (H1),2022 Projected (P) | 4.2% |
| Jan–Jun (H1),2022 Outlook (O) | 4.4% |
| Jul–Dec (H2), 2022 Projected (P) | 4.5% |
| Jul–Dec (H2), 2022 Outlook (O) | 4.2% |
| Jan–Jun (H1), 2023 Projected (P) | 4.2% |
Recently, the market for sports nutrition has seen a rise in the popularity of certain plant-based components. People's interest in leading healthy lives that include regular exercise has increased during the past ten years. Because of the rising number of fitness enthusiasts, there is an increased demand from consumers for products that will improve athletic performance, such as protein sports drinks, specialty nutritional drinks, and snack bars. According to scientific research, alfalfa proteins offer considerable physiological advantages to consumers seeking better physical health. During the course of the forecast period, this is anticipated to have a negative impact on the market's expansion globally.
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The cheap cost per unit of leaf concentrate produced is by far the biggest benefit of industrial-scale production. The benefits of leaf concentrate for malnourished persons may depend on how much it costs to produce each kilogram. Those who are undernourished frequently lack the funds to purchase enough food. Industrial leaf concentrate can be considerably more easily accessible to those who need it than only to wealthy, health-conscious individuals because of its low unit production costs. With the rising cost of food and the decline in the number of social food programs that provide subsidies, this is particularly relevant.
The largest market for alfalfa concentrate is in North America. North America is now the region that consumes the most alfalfa concentrate due to the rising need for wholesome fodder for livestock and dogs. The second spot goes to South America. The substantial meat and poultry industries that exist in this area are what is driving the expansion of the global alfalfa market there. Due to its widespread availability, increased demand for plant-based animal food products, and high nutrient content, alfalfa concentrate accounts for more than 30% of all consumption in this region.
The Asia Pacific region's food and beverage industry is growing quickly, which has increased demand for wholesome ingredients like alfalfa protein concentrate. The need for alfalfa protein concentrate is anticipated to increase as the market expands. The use of plant-based proteins in the manufacture of food and beverages is being encouraged by favorable government regulations being implemented in a number of Asia Pacific nations. The demand for alfalfa protein concentrate and other plant-based proteins is being driven by these regulations.
Alfalfa protein concentrate is now seeing growth in the European market, and this trend is anticipated to last for the foreseeable future. The market is still modest compared to other protein sources like whey or soy, though. The rising demand for plant-based protein sources is one of the key factors boosting the price of alfalfa protein concentrate in Europe. Customers are looking for more environmentally friendly and sustainable alternatives as they become more conscious of the effects that animal agriculture has on the environment.
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It has been noted that the largest consumers of alfalfa concentrate are the animal husbandry and pet food industries. These two sectors use more than 35% of the total amount of alfalfa concentrate produced. The dairy and poultry industries each utilize more than 25% of the entire production of alfalfa concentrate. Several sectors, including the food and pharmaceutical industries, use alfalfa concentrate extensively.
Animal food items are produced on a wide scale using powdered alfalfa concentrate. Alfalfa Concentrate, which can be found in capsule, tablet, and liquid form, is used in the manufacturing process of numerous medications and nutrient-rich food products for animals. It has been noted that the market is dominated by alfalfa concentrate in powder form.
Alfalfa Protein Concentrate market is only slightly fragmented. The major market players are concentrating on expansion tactics like mergers and acquisitions and extending their distribution networks to increase their market position. The manufacturers in the market used a variety of competitive methods, including product releases, free-from claims, and organic and natural origin claims.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value and Metric Ton for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East and Africa |
| Key Countries Covered | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | Form, End Use, and Region |
| Key Companies Profiled |
Bioriginal Food & Science Corporation; Swanson Vitamins; Xi'an Tianrui Biotech Co., Ltd.; Acetar Biotech; Unan Nutramax Inc; 3W Botanical Extract; Hindustan Animal Feeds; Conduzioni Aziende Agricole Forte; Alfalfas Sat Ansó |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Alfalfa Protein Concentrate Market is valued at US$ 204 million for 2023.
The Alfalfa Protein Concentrate Market valuation is expected to be US$ 324 million in the year 2023.
The value of CAGR for the Alfalfa Protein Concentrate Market is estimated to be 4.7%.
The powder segment would garner a significant market value share by 2023.
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Alfalfa Protein Concentrate Market
