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The alternative protein market size has grown rapidly in recent years. It will grow from $71.73 billion in 2023 to $85.65 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%.  The growth in the historic period can be attributed to health and wellness trends, environmental concerns, ethical and animal welfare concerns, cultural and religious preferences, innovation and product development.

The alternative protein market size is expected to see rapid growth in the next few years. It will grow to $162.13 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%.  The growth in the forecast period can be attributed to policy and regulatory support, global population growth, investment and funding inflows, changing consumer preferences, climate change mitigation. Major trends in the forecast period include diversification of protein sources, mainstream adoption in foodservice, premiumization and innovation, global expansion and market accessibility, nutritional enhancement and fortification.

The increasing demand for plant-based proteins is expected to propel the growth of the alternative protein market going forward. Plant-based protein refers to proteins derived from plants rather than animal sources. These proteins are present in several plant-based foods and are frequently consumed by people who follow vegetarian, vegan, or plant-based diets.  Plant-based proteins are used in alternative protein products as substitutes for traditional animal-based proteins, offering a sustainable and cruelty-free option. Additionally, plant-based proteins offer benefits such as lower saturated fat, high fiber content, reduced environmental impact, and ethical considerations compared to animal-based proteins.

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What Are The Key Trends That Influence Alternative Protein Market Share Analysis?

Major companies operating in the alternative protein market are developing new products, such as plant-based meat, to gain a competitive edge in the market. Plant-based meat refers to food products that mimic the taste, texture, and nutritional profile of traditional animal meat but are entirely derived from plant-based sources.

Which Market Players Are Driving Growth In The Alternative Protein Market?

Major companies operating in the alternative protein market are Cargill Incorporated, Archer-Daniels-Midland Company, CHS Inc., International Flavors & Fragrances Inc., Kerry Group plc, Ingredion Incorporated, DIC Corporation, Glanbia Plc, Roquette Freres SA, Tate & Lyle Plc, Corbion NV, Now Health Group Inc., Farbest Farms Inc., Ynsect SAS, BENEO GmbH, Cyanotech Corporation, MycoTechnology Inc., Enterra Feed Corporation, Sotexpro, Axiom Foods Inc., Protix B.V., EnviroFlight LLC, Entomo Farms, Aspire Food Group, Pond Technologies Holdings Inc.

How Is The Global Alternative Protein Market Segmented?

1) By Source: Plant-Based; Insect-Based; Microbial-Based; Other Sources
2) By Form: Dry; Liquid
3) By Application: Food And Beverage; Cattle; Aquaculture; Animal Feed; Pet Food; Equine; Other Applications

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The Alternative Protein Global Market Report 2024 provides an overview of the alternative proteinmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The alternative protein market forecast analyzes alternative protein market size, alternative protein market share, leading competitor and their market positions.

The Table Of Content For The Alternative Protein Market Include

1. Alternative Protein Market Executive Summary
2. Alternative Protein Market Segments
3. Alternative Protein Market Size And Template Market Growth Rate
4.  Key Alternative Protein Market Trends
5. Major Alternative Protein Market Drivers
……
25. Key Mergers And Acquisitions In The Alternative Protein Market
26. Top Alternative Protein Companies
27. Alternative Protein Market Opportunities And Strategies
28. Alternative Protein Market, Conclusions And Recommendations
29. Appendix

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