According to Arizton’s latest research report, the global protein alternatives market is growing at a CAGR of 8.84% during 2024-2030.
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Report Scope:
Market Size (2030): $36.17 Billion
Market Size (2024): $21.76 Billion
CAGR (2024-2030): 8.84%
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Source, Distribution Channel, Application, and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
The plant-based and alternative protein market is experiencing a boom as global food demand grows, with the global population expected to hit 8.5 billion by 2030. Microbial fermentation technology is gaining attention for its ability to efficiently produce high-quality proteins, further boosting sustainability and expanding product variety. As consumers become more health-conscious and environmentally aware, the market is projected to grow significantly, offering eco-friendly and nutritious alternatives to traditional animal-based proteins.
Recent Vendor Activities
- In August 2024, Corbion acquired the bread improver business from Novotech Food Ingredients in India, strengthening its footprint in the Asia Pacific region. This acquisition enables Corbion to expand its functional ingredient offerings and cater to the rising demand for plant-based and alternative proteins in the region. As Asia Pacific emerges as a key growth hub for alternative protein solutions, investments like these are crucial for scaling production and meeting local consumer preferences.
- In May 2024, Goterra partnered with Skretting Australia to integrate Australian insect protein into aquaculture feeds. This collaboration supports the global shift toward sustainable protein sources, as insect-based protein gains traction for its low environmental impact and high nutritional value. By leveraging Goterra's insect robot technology, Skretting aims to validate insect meal as a viable protein alternative for aquaculture, aligning with the industry’s push for sustainable and scalable protein solutions.
Driving Forces Behind the Growing Demand for Plant-Based and Alternative Proteins in North America
The rising demand for plant-based and alternative proteins in North America is a multifaceted trend shaped by a variety of environmental, health, economic, and ethical factors. Increasing awareness of the health risks associated with chronic diseases like heart disease, cancer, and diabetes has led many consumers to embrace plant-based eating as a means of improving overall health and well-being. Furthermore, the rise of personalized nutrition has encouraged individuals to tailor their diets to meet specific health needs, often turning to plant-based and alternative protein options.
In the United States, urban centers like New York, Los Angeles, and San Francisco serve as hubs for plant-based and alternative proteins, driven by health-conscious consumers who are also aware of the environmental impact of traditional animal agriculture. The growing demand in these cities is largely due to the increasing number of individuals adopting vegetarian and vegan lifestyles, motivated by concerns over animal welfare, climate change, and health benefits. Similarly, in Canada, cities such as Toronto, Vancouver, and Montreal are leading the movement, reflecting a growing focus on sustainable food systems and health-conscious eating.
Economic factors are also playing a key role in boosting demand for plant-based and alternative proteins. Technological advancements are lowering production costs for plant-based and alternative proteins, such as those derived from fermentation or lab-grown meat. Economies of scale and increased investment in research and development have made these products more accessible and affordable for consumers, further driving market growth.
Fragmentation and Competition in the Global Plant-Based and Alternative Protein Market
The global plant-based and alternative protein market is fragmented, with significant variation across regions. While a few key players, such as ADM, Cargill, Glanbia, International Flavors & Fragrances, Kerry Group, Roquette Frères, and Beyond Meat, have a strong presence in North America, Europe, and APAC, most participants are local or regional players. This fragmentation has led to price competition, with local vendors offering similar products at lower prices, intensifying price wars and increasing the risk of market penetration by low-quality products. The major vendors continue to compete for market dominance, facing occasional challenges from smaller, regional competitors.
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Key Vendors
- ADM
- Cargill
- Glanbia
- International Flavors & Fragrances
- Kerry Group
- Roquette Frères
- Ingredion
- dsm-firmenich
- AMCO Proteins
- Algenol
- Aminola
- AngelYeast
- Anhui Shunxin Shenyuan Biological Food
- Axiom Foods
- BENEO
- Beyond Meat
- bGREEN
- Birdman
- Believer Meats
- Bob's Red Mill Natural Foods
- COSUCRA
- The Emsland Group
- Farbest Brands
- Fuji Oil Holdings
Segmentation & Forecasts
Source
- Plant-based Protein
- Cultivated Protein
- Microbial Protein
- Insect-based Protein
Distribution Channel
- Offline
- Online
Application
- Food & Beverage
- Dietary Supplement
- Animal Feed
- Others
Geography
North America
- The US
- Canada
Europe
- Germany
- France
- The UK
- Italy
- Spain
APAC
- China
- Japan
- India
- South Korea
- Australia
Middle East & Africa
- Turkey
- Saudi Arabia
- Latin America
- Brazil
- Mexico
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the protein alternative market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/alternative-protein-market
What Key Findings Will Our Research Analysis Reveal?
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