The Alternative Proteins Market Size is valued at USD 15.30 billion in 2023 and is predicted to reach USD 37.88 billion by the year 2031 at a 12.14 % CAGR during the forecast period for 2024-2031.
The Alternative proteins are food-technology or plant-based alternatives protein that replaces the animal protein. Alternative proteins have a similar texture, look and taste to animal-based meat products. Increasing reach of social media, concerns across the transparency in the food industry related to the health, presence of information on food provenance and traceability, sustainability, and animal welfare are among some factors expected to drive the growth of market.
Additionally, increasing global trend of consumer in non-meat-based protein options and rise in awareness of a link between high meat consumption and some non-communicable diseases fueling the growth of market. On the other flip side, high cost of alternative protein expected to restrain the growth of alternative protein market. Region wise, North America dominates the market owing to increased awareness about the benefits of plant-based alternatives, protein-rich diet and consumer interest in foods.
Competitive Landscape
Some Of The Key Players In The Alternative Proteins Market:
- ADM
- Cargill Inc.
- Lightlife Foods, Inc.
- Impossible Foods Inc.
- International Flavors & Fragrances, Inc.
- Ingredion Inc.
- Kerry Group
- Glanbia plc
- Bunge Limited
- Axiom Foods Inc.
- Tate & Lyle PLC
- SunOpta Inc.
- Glanbia plc
- AGT Food and Ingredients
- Emsland Group
- Other Market Players
Market Segmentation
The alternative proteins market is segmented by product and application. Based on product, the market is segmented into plant protein, microbe-based protein, insect protein. Plant Protein is again divided into Cereals (Wheat(Wheat Protein Concentrates, Wheat Protein Isolates, Textured Wheat Protein, Hydrolyzed Wheat Protein, HMEC/HMMA Wheat Protein), Rice (Rice Protein Isolates, Rice Protein Concentrates, Hydrolyzed Rice Protein, Others)), Oats (Oat Protein Concentrates, Oat Protein Isolates, Hydrolyzed Oat Protein, Others), Legumes (Soy (Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, Hydrolyzed Soy Protein, HMEC/HMMA Soy Protein), Pea (Pea Protein Concentrates, Pea Protein Isolates, Textured Pea Protein, Hydrolyzed Pea Protein, HMEC/HMMA Pea Protein)), Lupine, Chickpea, Others), Roots (Potato (Potato Protein Concentrate, Potato Protein Isolate), Maca, Others)), Ancient Grains (Hemp, Quinoa, Sorghum, Amaranth, Chia, Others), Nuts & Seeds (Canola, Almond, Flaxseeds, Others)), Microbe-based Protein (Algae, Bacteria, Yeast, Fungi), and Insect Protein (Coleoptera, Lepidoptera, Hymnoptera, Orthoptera, Hemiptera, Diptera, Others)
The market is segmented by application into food & beverages, clinical nutrition, animal feed, others. Food & Beverages is again divided into Bakery & Confectionary, Beverages (Non-Dairy Alternatives), Breakfast Cereals, Dairy Alternatives, Beverages, Cheese, Snacks, Others, Dietary Supplements/Weight Management, Meat Alternatives & Extenders (Poultry, Beef, Pork, Others), Snacks (Non-Dairy Alternatives), Sports Nutrition, Infant Formulations), Clinical Nutrition, Animal Feed, and Others
The Alternative Proteins Market Report Scope
Report Attribute |
Specifications |
Market Size Value In 2023 |
USD 15.30 Bn |
Revenue Forecast In 2031 |
USD 37.88 Bn |
Growth Rate CAGR |
CAGR of 11.06 % from 2024 to 2031 |
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
Historic Year |
2019 to 2023 |
Forecast Year |
2024-2031 |
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered |
By Product, By Application |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope |
U.S.; Canada; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; South East Asia; South Korea |
Competitive Landscape |
ADM, Cargill Inc., Lightlife Foods, Inc., Impossible Foods Inc., International Flavors & Fragrances, Inc., Ingredion Inc., Kerry Group, Glanbia plc, Bunge Limited, Axiom Foods Inc., Tate & Lyle PLC, SunOpta Inc., Glanbia plc, AGT Food and Ingredients, Emsland Group |
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |