The global Alternative Protein market is expected to develop at a CAGR of 12.4% between 2024 and 2031, reaching USD 27.5 billion by 2031.
North America now dominates the market, with YY% of the global share. Key metrics include rising consumer awareness of sustainability, increased demand for plant-based products, and technological breakthroughs in protein extraction and processing.
The Alternative Protein market is expanding rapidly due to changing consumer tastes for healthier and more sustainable food options, concerns about environmental sustainability, and an increasing prevalence of food allergies and intolerances. The COVID-19 pandemic has intensified this tendency, as customers become more health-conscious and interested in alternate protein sources.
Market Trend: Diversification of Protein Sources
Growing interest in and commercialization of novel protein sources other than standard plant-based choices. The drive towards protein source diversity is gaining traction in the alternative protein market. While plant-based proteins such as soy and pea continue to dominate, there is growing interest in and development of proteins derived from unconventional sources such as algae, fungi, and even air-based proteins produced by fermentation. Companies such as Air Protein and Solar Foods, for example, are pioneering the synthesis of proteins from carbon dioxide and electricity, potentially revolutionizing sustainable protein manufacturing.
Furthermore, insect proteins, particularly those derived from crickets and mealworms, are gaining popularity in various markets, particularly for use in animal feed and sports nutrition. The demand for more sustainable protein sources, as well as the desire to create products with distinct nutritional profiles and functional qualities, are driving this diversification trend.
Market Driver: Environmental and Health Concerns
Increased awareness of the environmental effect of traditional animal agriculture, as well as the health benefits of plant-based diets, is driving market expansion. Concerns about environmental sustainability, as well as rising consumer health consciousness, are major drivers of the alternative protein business. The livestock business contributes significantly to greenhouse gas emissions, deforestation, and water pollution, prompting environmentally aware customers to seek out more sustainable protein sources.
According to the FAO, livestock is responsible for around 14.5% of worldwide greenhouse gas emissions. This knowledge is encouraging both consumers and food corporations to use plant-based and other alternative proteins. Furthermore, health concerns, such as the relationship between excessive consumption of red and processed meats and a variety of health problems, are encouraging consumers to integrate more plant-based proteins into their diets. The expanding body of evidence showing the health benefits of plant-based diets, such as lower rates of heart disease, certain malignancies, and obesity, is propelling this movement. As a result, both major food corporations and startups are investing substantially in developing and marketing alternative protein sources to fulfill rising demand.
Market Restraint: Taste and Texture Challenges
Difficulties reproducing the taste, texture, and functionality of animal-based proteins in alternative protein sources. Despite tremendous progress, the alternative protein market continues to encounter difficulties in replicating the flavor, texture, and overall sensory experience of traditional animal-derived proteins.
Many customers, while interested in alternative proteins, are unwilling to sacrifice on flavor and feel. This is especially difficult when it comes to reproducing the intricate structure of meat items or the usefulness of eggs in baking applications. While plant-based burgers have made great progress, many products still struggle to match the juiciness and umami flavor of a beef burger. Similarly, developing plant-based cheese that melts and stretches like dairy cheese is an ongoing process. These sensory issues may hinder consumer uptake, particularly among flexitarians who are not completely committed to a plant-based diet. To solve this, businesses are investing substantially in R&D, looking into new ingredients and processing processes to enhance the organoleptic qualities of alternative protein products. However, the expenditures involved with this R&D might be substantial, possibly affecting product pricing and market expansion.
Plant Protein:
Plant-based proteins dominate the market because they are widely available, familiar to consumers, and versatile in food applications. The Plant Protein category has the highest market share in the Alternative Protein business. This dominance is largely owing to the abundance of plant-based protein sources accessible, including soy, pea, wheat, and new sources such as chickpea and fava bean. Plant proteins are also benefiting from growing consumer acceptability and familiarity, as well as major investments in flavour and functioning.
Recent advances in plant protein technology have centered on increasing the nutritional profile and functionality of plant proteins. For example, advances in protein extraction and texturization techniques have resulted in the development of plant-based meat substitutes that are more closely related to the texture and mouthfeel of animal meat. Furthermore, there is a rising interest in mixing various plant proteins to construct comprehensive amino acid profiles comparable to animal proteins.
Plant Protein category accounts for over YY% of the worldwide Alternative Protein market. The food and beverage industry is the major consumer of plant proteins, with meat and dairy alternatives seeing significant increase. The market for plant proteins is expected to increase at a CAGR of 13.5% from 2024 to 2031, owing to rising consumer adoption of plant-based diets and continued product innovation.
Dominating Region: North America
North America dominates the worldwide Alternative Protein market due to high consumer awareness, a strong presence of important players, and a well-developed retail infrastructure for plant-based foods.
North America's dominance in the Alternative Protein market is due to a number of factors, including high consumer awareness of health and sustainability, a strong culture of innovation in the food business, and major investments in alternative protein startups. The United States, in particular, contributes significantly to the region's market share, thanks to the presence of prominent alternative protein firms and a vibrant ecosystem that fosters food tech innovation.
The region's leadership in alternative protein production is seen in the rapid expansion of plant-based meat and dairy replacements in the retail and restaurant industries. Major fast-food franchises and restaurants in North America have increasingly adopted plant-based alternatives, accelerating market expansion and consumer acceptance.
Recent news illustrates the ongoing innovation in the North American alternative protein market. For example, several businesses are investigating the use of precise fermentation to produce animal-free dairy proteins, which might revolutionize the dairy alternative sector. There is also rising interest in developing whole-cut plant-based meat replacements that go beyond ground meat substitutes.
North America accounts for roughly YY% of the global Alternative Protein market. The U.S. is the region's largest market, followed by Canada. North America's market is expected to increase at a CAGR of 11.8% between 2024 and 2031, maintaining its global lead.
The Alternative Protein market is dominated by a combination of established food firms and creative entrepreneurs. Beyond Meat, Impossible Foods, Oatly, as well as traditional food heavyweights Nestlé and Tyson Foods, have all entered the market. These companies are always investing in research and development to improve the flavor, texture, and nutritional value of their alternative protein products.
Emerging developments in the competitive landscape include an emphasis on generating "cleaner label" products that have fewer and more identifiable ingredients. There is also a growing interest in developing hybrid products that blend plant-based proteins and cultivated animal cells in order to appeal to flexitarian consumers.
Financially, several alternative protein companies, particularly in the plant-based meat market, have experienced significant development. However, as the early excitement surrounding some items fades, the market is experiencing more competition and pressure to improve profitability.
The competitive landscape remains dynamic, with the possibility of industry consolidation as larger food corporations purchase successful startups. As the market evolves, sustainability credentials and the ability to scale production efficiently will likely become important differentiators.
The Alternative Protein market is at a critical juncture, moving from niche to mainstream. As an analyst, I expect the market will see considerable technological breakthroughs in the next years, particularly in terms of increasing the sensory and nutritional profiles of alternative proteins.
The development of individualized nutrition solutions based on alternative proteins is a unique topic to monitor. Advances in nutrigenomics and food technology may lead to the development of alternative protein products that are tailored to individual nutritional needs and preferences. This might potentially create new market sectors and promote industrial innovation.
Beyond Meat, Inc.
Impossible Foods Inc.
Oatly Group AB
Nestlé S.A.
Tyson Foods, Inc.
Archer Daniels Midland Company
Cargill, Incorporated
Glanbia plc
Quorn Foods (Monde Nissin Corporation)
Eat Just, Inc.
October 2023: Beyond Meat launched a new line of plant-based chicken products with improved texture and flavor profile, targeting the growing demand for poultry alternatives.
August 2023: Nestlé announced a significant investment in developing new fermentation technologies for producing alternative proteins, aiming to expand its portfolio of plant-based products.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Beyond Meat, Inc.
5.2. Impossible Foods Inc.
5.3. Oatly Group AB
5.4. Nestlé S.A.
5.5. Tyson Foods, Inc.
5.6. Archer Daniels Midland Company
5.7. Cargill, Incorporated
5.8. Glanbia plc
5.9. Quorn Foods (Monde Nissin Corporation)
5.10. Eat Just, Inc.
5.11. Company name 11
5.12. Company name 12 (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Diversification of Protein Sources
6.1.2. Personalized Nutrition Solutions
6.1.3. Clean Label and Minimal Processing
6.2. Market Drivers
6.2.1. Environmental and Health Concerns
6.2.2. Increasing Vegetarian and Vegan Population
6.2.3. Technological Advancements in Food Processing
6.3. Market Restraints
6.1.1. Taste and Texture Challenges
6.1.2. Regulatory Hurdles
6.1.3. Price Parity with Conventional Proteins
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY SOURCE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Plant Protein
7.1.1. Soy Protein
7.1.2. Pea Protein
7.1.3. Wheat Protein
7.1.4. Others (Rice, Potato, etc.)
7.2. Insect Protein
7.2.1. Cricket Protein
7.2.2. Mealworm Protein
7.2.3. Others
7.3. Microbial Protein
7.3.1. Algae Protein
7.3.2. Fungal Protein
7.3.3. Others
7.4. Others
7.4.1. Cultured Meat
7.4.2. Air-based Protein
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Food & Beverages
8.1.1. Meat Alternatives
8.1.2. Dairy Alternatives
8.1.3. Bakery Products
8.1.4. Others
8.2. Animal Feed
8.2.1. Livestock Feed
8.2.2. Pet Food
8.3. Nutraceuticals
8.3.1. Protein Powders
8.3.2. Protein Bars
8.4. Others
8.4.1. Cosmetics
8.4.2. Pharmaceuticals
9. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Supermarkets/Hypermarkets
9.1.1. Large Format Stores
9.1.2. Small Format Stores
9.2. Specialty Stores
9.2.1. Health Food Stores
9.2.2. Organic Stores
9.3. Online Retail
9.3.1. Company Websites
9.3.2. E-commerce Platforms
9.4. Others
9.4.1. Convenience Stores
9.4.2. Foodservice
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the region mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Source:
Plant Protein
Insect Protein
Microbial Protein
Others
By Application:
Food & Beverages
Animal Feed
Nutraceuticals
Others
By Distribution Channel:
Supermarkets/Hypermarkets
Specialty Stores
Online Retail
Others
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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