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

Report Code: PMI478721 | Publish Date: March 2024 | No. of Pages: 170

Global Alternative Protein Market Overview

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.

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. Some businesses are hedging against or planning for the drop in demand for animal products by investing in alternative producers.

Alternative Protein Market - Introduction

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Global Alternative Protein Market Dynamics

Consumer’s shift toward plant protein will drive the growth of the Market

Consumer demand for protein alternatives is shifting away from animal protein and toward plant protein. 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. Furthermore, dairy proteins are linked to the body's essential amino acid supply, but lactose intolerance (the inability to digest lactose) affects 30-50 million Americans and over 90% of adults in east Asia, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK).

Access Crucial Insights at a Fraction of the Cost | Request Your Discount

Global Alternative Protein Market Segmentation

The Alternative Protein Market is segmented based on Source, Application and region.

On the basis of Source, the Alternative Protein Market is segmented into Plant Protein, Mycoprotein, Algal Protein, and Insect Protein. Based on Application, the target market is segmented into Food and Beverage, Dietary Supplements, Animal Feed, and Pet Food, Personal Care and Cosmetics.

Regional Insights:

Alternative Protein Market - Regional Insights

On region the Global Alternative Protein Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The United States holds a 60 percent share of the North American protein alternatives market. While animal protein still has a strong hold on the American populace, plant protein sources such as soy, lentils, and beans, among others, have been gaining favour in recent years. This is owing to the widespread availability of vegan protein-based products in the retail market, as well as increased consumer knowledge of the health and weight-loss benefits. Many companies are strategic, including corporate expansion plans, in light of the existing business prospects in the protein alternatives market, particularly in the plant protein category.

Reduce costs by up to 30% with a custom report tailored to your specific needs | Request Customized Report

Report Scope:

Attribute

Details

Market Size 2024

US$ 15.3 billion

Projected Market Size 2034

US$ 22.4 billion

CAGR Growth Rate

4.3%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

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

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034 For the purpose of this study, has segmented the Global Alternative Protein Market report based on Source, Application and region.

Alternative Protein Market - Detailed Segmentation

Alternative Protein Market, By Region:

  • North America
    • Middle East & Africa
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Europe
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
      • U.S.
      • Canada

Global Alternative Protein Market Key Players

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.

Global Alternative Protein Market Company Profile

  • Cargill
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ADM
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Roquette Freres
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Ingredion Incorporated
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Kerry Group
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • E.I. Dupont De Nemours and Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Now Foods
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tate & Lyle Plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Global Alternative Protein Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Alternative Protein Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Source
      • Market Snippet, By Application
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Alternative Protein Market, By Source, 2020 – 2030, (US$ Mn)
    • Overview                                     
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Plant Protein
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Mycoprotein
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Algal Protein
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Insect Protein
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Alternative Protein Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview                                                  
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Food and Beverage
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Dietary Supplements
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Animal Feed and Pet Food
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Personal Care and Cosmetics
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Alternative Protein Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Source, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Source, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Source, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Source, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Source, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles

 

  • Cargill
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ADM
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Roquette Freres
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Ingredion Incorporated
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Kerry Group
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • E.I. Dupont De Nemours and Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Now Foods
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tate & Lyle Plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Alternative Protein Market is segmented based on source, application and region.

Consumer’s shift toward plant protein is major factor driving the market.

During the forecast period, North America is expected to dominate the 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.