Alternative Protein Market, By Source (Plant-Based Proteins, Insect-Based Proteins, Microbial Fermentation based, Cell-Based Proteins, Others), By Form (Dry and Liquid), By Application (Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Fee

Alternative Protein Market, By Source (Plant-Based Proteins, Insect-Based Proteins, Microbial Fermentation based, Cell-Based Proteins, Others), By Form (Dry and Liquid), By Application (Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Alternative protein market is witnessing robust growth due to various factors such as growing concern for animal welfare, impact of meat consumption on the environment, and health benefits associated with plant-based or cultivated meat. Rising popularity of veganism and flexitarians among millennials and generation z consumers has boosted demand for meat and dairy alternatives. Furthermore, technological advancements have enabled production of plant-based or cell-based meat that closely resembles animal meat in terms of taste, texture and other attributes, thus, making the switch easier for consumers.

Market Dynamics

Alternative protein market growth is driven by growing health and environmental consciousness among consumers. People are increasingly adopting vegan or flexitarian diets to reduce the risk of lifestyle diseases, cut calories and lessen the environmental impact of animal agriculture. However, high production costs and limited availability of cultivated meat can inhibit fast commercialization. Technology companies are making significant investments in cell-based meat production to reduce costs and launch viable commercial products. Factors like reduced costs, improved taste and texture of products, growing environmental urgency can present significant opportunities for market players in the near future.

Key features of the study

• This report provides in-depth analysis of the global alternative protein market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global alternative protein market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include 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.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global alternative protein market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global alternative protein market

Market Segmentation

• By Source Insights (Revenue, USD Bn, 2019 - 2031)
• Plant-Based Proteins
• Insect-Based Proteins
• Microbial Fermentation based
• Cell-Based (Cultivated) Proteins
• Others
• By Form Insights (Revenue, USD Bn, 2019 - 2031)
• Dry
• Liquid
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• Food & Beverages
• Infant Formulations
• Clinical Nutrition
• Animal Feed
• Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• 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.