Alternative Protein market is estimated to be US$ 22.4 billion by 2034 with a CAGR of 4.3% during the forecast period

Along with the rising risk profile of livestock agriculture, long-established meat and dairy industries are coming under fire from civil society groups and new food industry actors, making plant-based goods ethical and sustainable. Because of its growth, profitability, risk exposure, and ability to compete and innovate, protein diversification has the potential to revolutionise a food company's core business and value proposition. The growing trend among millennials to adopt flexitarian and meat-free diets suggests a substantial shift in purchasing patterns from previous generations. From farmers to retailers, companies across the food value chain are already investing in these prospects.

Alternative Protein Market was valued at US$ 15.3 Billion in 2024 and is projected to grow at a CAGR of 4.3% to reach US$ 22.4 Billion by 2034.

The report "Alternative Protein Market, By Source (Plant Protein, Mycoprotein, Algal Protein, and Insect Protein), By Application (Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2034"

Key Highlights:

• In 2021, For an enterprise value of €65 million, Royal DSM, a global purpose-led science-based corporation, has agreed to buy Vestkorn Milling, one of Europe's largest suppliers of pea- and bean-derived components for plant-based protein products.

Analyst View:

Sustainability concerns, health awareness, ethical or religious beliefs, and environmental and animal rights are all linked to this preference for a plant-based diet. People are changing to a vegan source of protein since meat proteins provide the needed amino acid content for the body but are linked to high cholesterol levels and other related concerns.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Alternative Protein Market, By Source (Plant Protein, Mycoprotein, Algal Protein, and Insect Protein); By Application (Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2034”

Key Market Insights from the report:

Alternative Protein Market was valued at US$ 15.3 billion in 2024 and is projected to grow at a CAGR of 4.3% to reach US$ 22.4 billion by 2034.  The Alternative Protein Market is segmented based on Source, Application and region.

• Based on Source, Alternative Protein Market is segmented into Plant Protein, Mycoprotein, Algal Protein, and Insect Protein.
• Based on Application, Alternative Protein Market is segmented into Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics.  
• By Region, the  Alternative Protein Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Alternative Protein Market:

Cargill, ADM, Roquette Freres (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), E.I. Dupont De Nemours and Company (U.S.), Now Foods (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Beneo GmbH (Germany), Glanbia Plc (Ireland), Sotexpro (France), CHS Inc (U.S.), AgriProtein (South Africa), Ynsect (France), and Enterra Feed Corporation (Canada), and DuPont control the worldwide protein alternatives industry through major tactics such as acquisitions, expansions, and new product releases. Among the top participants in the protein alternatives industry, Cargill is the market leader. These businesses have focused on research and development in order to maintain their market position or acquire an advantage over their competitors. Along with mergers and product launches to meet the growing need for protein alternatives, companies are also developing new and creative product offerings in order to capture market dominance in a variety of industries, including food and beverage, nutritional supplements, and animal feed.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period

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