Have a question?
Please get in touch with our team in case of any queries
THE ALTERNATIVE PROTEIN MARKET SIZE IS EXPECTED TO REACH USD 33.17 BILLION BY 2029 FROM USD 20.04 BILLION IN 2023, GROWING AT A CAGR OF 8.76% DURING THE FORECAST PERIOD.
The Alternative Protein Market Size Analysis Report By
- Product: Plant-Based Protein, Cultivated Protein, Microbial Protein, and Insect-Based Protein
- Applications: Food & Beverage, Dietary Supplements, Animal Feed, and Others
- Distribution Channel: Offline and Online
- Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024–2029.
This report includes market data points, ranging from trend
analyses to market estimates & forecasts that you can customize
ALTERNATIVE PROTEIN MARKET REPORT SCOPE
| REPORT ATTRIBUTE | DETAILS |
|---|---|
| Market Size (2029) | USD 33.17 Billion |
| Market Size (2023) | USD 20.04 Billion |
| CAGR (2023-2029) | 8.76% |
| HISTORIC YEAR | 2020-2022 |
| BASE YEAR | 2023 |
| FORECAST YEAR | 2024-2029 |
| SEGMENTS BY | Product, Applications, Distribution Channel, Geography |
| GEOGRAPHIC ANALYSIS | North America, Europe, APAC, Latin America, and Middle East & Africa |
| KEY PLAYERS | ADM, Cargill, Incorporated, Glanbia plc, International Flavors & Fragrances Inc., Kerry Group plc, and Roquette Frères |
ALTERNATIVE PROTEIN MARKET SIZE
The alternative protein market size was valued at USD 20.04 billion in 2023 and is projected to reach USD 33.17 billion by 2029, growing at a remarkable CAGR of 8.76%. This dynamic market is propelled by evolving consumer preferences, particularly the increasing demand for sustainable and health-conscious food options. A shift toward plant-based diets is being driven by dietary restrictions, ethical considerations, and growing awareness of environmental sustainability. Younger generations, including Millennials and Gen Z, are key adopters, prioritizing health, eco-consciousness, and cruelty-free consumption.
Plant-based proteins dominate the market, supported by advancements in food technology and diverse applications, from dairy alternatives to protein-rich snacks. Innovations such as lab-grown meat and microbial proteins are gaining traction, with significant investment in cellular agriculture to address climate concerns and reduce dependency on traditional livestock farming.
Trends Influencing the Alternative Protein Market Size
- Rising Demand for Plant-Based Meat: Consumer interest in eco-friendly alternatives is evident, with plant-based proteins leading the charge. Lab-grown meat is a notable segment, attracting over USD 1.2 billion in investments as companies strive to meet the growing appetite for sustainable protein sources.
- Children’s Nutrition: The inclusion of plant-based products in children’s diets is accelerating, especially in regions like APAC. Parents are increasingly turning to these options for their health benefits and affordability.
- Health and Ethical Motivations: Plant-based diets are widely perceived as healthier, reducing risks of chronic diseases while aligning with ethical concerns over animal welfare.
Market Challenges
Despite its growth, the market faces hurdles such as digestive discomfort from certain plant-based products and potential nutritional gaps in protein isolates. Additionally, cost barriers and quality concerns in some regions may hinder adoption.
GEOGRAPHICAL SIZE INSIGHTS
North America leads the global market, fueled by technological innovations and consumer demand for sustainable food options. Europe closely follows, driven by cultural shifts toward vegetarian and vegan diets. Meanwhile, APAC is the fastest-growing region, with rising awareness of plant-based diets’ health and environmental benefits.
COMPETITIVE ANALYSIS
The alternative protein market is highly fragmented, with key players like ADM, Cargill, and Beyond Meat competing alongside regional vendors. Intense competition fosters innovation while emphasizing affordability and quality to meet diverse consumer needs globally.
In summary, the alternative protein market size is set to grow exponentially, fueled by health, sustainability, and ethical considerations. With innovations in food technology and increasing global awareness, this market is poised to reshape the future of food.
SNAPSHOT
The global plant-based and alternative protein market size is expected to grow at a CAGR of approximately 8.76% from 2023 to 2029.
The following factors are likely to contribute to the growth of the global plant-based and alternative protein market during the forecast period:
- Rising Demand for Plant-Based Products Among Kids
- Increasing Awareness of Nutritional Intake
- Growth in Flexitarian and Vegan Population
- Increasing Demand for Alternative Protein Among Millennials
Base Year: 2023
Forecast Year: 2024-2029
The report considers the present scenario of the global plant-based and alternative protein market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.
Key Company Profiles
- ADM
- Business Overview
- Product Offerings
- Key Strategies
- Key Strengths
- Key Opportunities
- Cargill, Incorporated
- Glanbia plc
- International Flavors & Fragrances Inc.
- Kerry Group plc
- Roquette Frères
Other Prominent Vendors
- AMCO Proteins
- Business Overview
- Product Offerings
- Algenol
- Aminola B.V
- AngelYeast Co., Ltd
- Anhui Shunxin Shenyuan Biological Food Co. Ltd.
- Australian Plant Proteins PTY LTD
- Axiom Foods, Inc.
- BENEO
- Beyond Meat Inc.
- BGreen
- Birdman Life
- Believer Meats
- Bob's Red Mill Natural Foods, Inc.
- COSUCRA
- Crown Soya Protein Group Company
- DSM
- Emsland Group
- Farbest Brands
- FUJI OIL HOLDINGS INC.
- Goterra
- Gushen Biotechnology Group Co., Ltd.
- Growthwell Foods
- Impossible Foods Inc.
- KRÖNER-STÄRKE
- Manildra Group
- MGP Ingredients Inc.
- Nutraferma, Inc.
- Novus Life Sciences Private Limited
- Nutranelle
- Proeon
- Protenga
- Protix
- Puravida
- Pure Plant Protein
- Sotexpro
- Tate & Lyle
- TERRASOUL SUPERFOODS
- Thailand Unique
- Unibio
- UPSIDE Foods
- Wilmar International Ltd
- Wuxi Jinnong Biotechnology Co., Ltd
- Yantai Shuangta Food Co., LTD
- ZXCHEM
Segmentation by Product
- Plant-Based Protein
- Cultivated Protein
- Microbial Protein
- Insect-Based Protein
Segmentation by Applications
- Food & Beverage
- Dietary Supplements
- Animal Feed
- Others
Segmentation by Distribution Channel
- Offline
- Online
Segmentation by Geography
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Netherlands
- Poland
- Belgium
- APAC
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Latin America
- Brazil
- Mexico
- Argentina
Frequently Asked Questions
How big is the global plant-based and alternative protein market?
What is the growth rate of the global plant-based and alternative protein market?
What are the significant trends in the plant-based and alternative protein market?
Which region dominates the global plant-based and alternative protein market?
Who are the key players in the global plant-based and alternative protein market?
For more details, please reach us at enquiry@arizton.com
For more details, please reach us at enquiry@arizton.com
Select a license type that suits your business needs
Single User Licence
- Report accessible by one user only
- Free 10% or 3 days of customization
- Free post-sale service assistance
- Continuous support through email
5 User Licence
- Report accessible by 5 users within the organization
- Free 15% or 4.5 days of customization
- Continuous support through email and telephone
- Free analyst hour
- Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Corporate Licence
- Free Datasheet worth $1500
- Report accessible by the entire organization
- Free 20% or 6 days of customization
- Free post-sale service assistance
- Continuous support through email and telephone
- Direct access to lead analysts
- Free analyst hour
- Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Datasheet Licence
- Report accessible by 1 user only
- Free 15% or 32 hours of customization
- Free post-sale service assistance
- Direct access to lead analysts
Frequently Asked Questions
How big is the global plant-based and alternative protein market?
What is the growth rate of the global plant-based and alternative protein market?
What are the significant trends in the plant-based and alternative protein market?
Which region dominates the global plant-based and alternative protein market?
Who are the key players in the global plant-based and alternative protein market?
Alternative Protein Market Report
Other RELATED Reports
