Alternative Protein Market - Forecast(2024 - 2030)

Report Code: FBR 0669 Report Format: PDF + Excel

Alternative Protein Market Overview:

The global Alternative Protein Market size is estimated to reach $30 billion by 2030, growing at a CAGR of 10.4% during the forecast period 2024-2030. The rising number of venture investments in alternative protein firms, improvements in food technology, the high nutritional content of edible insects, and the environmental sustainability benefits of alternative protein are driving the expansion of this industry. Moreover, expanding research and development of new products, as well as an increasing preference for vegans, give substantial prospects for the expansion of the alternative protein market. Nevertheless, the high cost of alternative protein and the widespread usage of animal-derived goods are projected to stymie the market's expansion.

Market Snapshot:

Alternative Protein market - Report Coverage:

The “Alternative Protein market - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Alternative Protein Market.



By Source

  • Insect-Based

  • Alternative-Based

  • Plant-Based

  •  Others

By Form

  • Dry

  • Liquid

       By Application

  • Food & Beverage

  • Cattle

  • Aquaculture

  • Animal Feed

  • Pet Food

  • Equine

  • Others

    By Geography

  • North America (U.S., Canada and Mexico

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe)

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

● The alternative protein industry experienced a significant boost during the COVID-19 pandemic. The pandemic raised awareness about zoonotic viral infections, which are also associated with livestock. Opting for an alternative protein-based diet can help mitigate the effects of viral infections, as alternative proteins are rich in macronutrients, micronutrients, and antioxidants. Both manufacturers and consumers have witnessed an unprecedented surge in demand for certain products like meat analogs and plant-based milk. Moreover, the COVID-19 pandemic also gave rise to exemplary practices in the alternative protein industry. Governments relaxed some competition law requirements specifically for plant-based protein products and insect protein. As an example, the FDA eased its guidelines for the sale of plant-based meat products.

● The supply chain disruption due to the Russia-Ukraine war has impeded the Alternative Protein Market growth. If the conflict escalates and affects trade routes or infrastructure, it could disrupt the supply chains of alternative protein ingredients or finished products. This disruption may result in shortages, price fluctuations, or delays in the availability of alternative protein products.

Key Takeaways:
● Fastest Growth of Asia Pacific Region
The Asia-Pacific region is projected to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period. This substantial growth in the regional market can be primarily attributed to several factors, including a rising awareness of the significance of protein-rich diets, continuous technological advancements within the food and beverages industry, a rapidly expanding economy, and abundant availability of raw materials.

● The alternative protein market is expected to be dominated by the segment focused on plant protein-based applications.
The alternative protein market is divided into three sections depending on application: plant protein-based applications, insect protein-based applications, and microbial protein-based applications. The plant protein-based applications segment is expected to account for the majority of the alternative protein market by 2022. The growing vegetarian and vegan population, consume0r desire for clean-label products, and increased expenditures and expansions by plant-based product makers all contribute to this segment's size. The insect protein-based applications sector, on the other hand, is predicted to grow at the fastest rate over the projection period.

● Rising Demand for healthy & functional foods
The increasing consumer awareness of the detrimental health effects associated with meat and meat products is propelling the demand for meat analogs, leading to a positive impact on the alternative protein market. Plant-based protein sources, including soy protein, are extensively utilized in burger patties, minces, and sausages due to their ability to replicate the desirable taste and texture attributes of meat analogs. Texturized vegetable proteins offer an elastic, spongy texture, along with a range of other favorable texture properties, making them well-suited for use in meat analog products. Moreover, meat analogs offer benefits such as improved shelf life and safety compared to traditional meat products, which has resulted in the integration of alternative proteins into various food items. Factors such as consumer focus on sustainability, mounting health concerns, and the desire for exceptional taste in meat analogs are driving the demand for such products, thereby positively influencing the growth of the alternative protein market.

● Increasing environmental Concerns
Growing environmental consciousness is another significant driver of the alternative protein market. The livestock industry is associated with various environmental issues, including greenhouse gas emissions, deforestation, and water pollution. Alternative protein sources, such as plant-based proteins, have a lower environmental impact and require fewer resources, making them more sustainable and appealing to environmentally conscious consumers.

● Concerns about taste and texture may impede market expansion.
While significant progress has been made in improving the taste and texture of alternative protein products, there is still room for further optimization. Some consumers may perceive a difference in taste and texture compared to traditional animal-based products, which can impact their acceptance and adoption. Enhancing the sensory attributes of alternative protein products to closely match or exceed the sensory experience of conventional proteins remains a challenge.

Alternative Protein Market Share (%) By Region, 2022 


 Key Market Players: 
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in Alternative Protein Market. The top 10 companies in this industry are listed below:
1. Cargill, Inc.
2. Roquettte Freres
3. Kerry Group
4. Calysta, Inc.
5. Axiom Foods, Inc.
6. Angel Yeast Co. Ltd.
7. Burcon NutraScience Co.
8. Global Bugs Asia Co. Ltd.
9. Cellena, Inc.
10. Aspire Food Group

Report Metric


Base Year Considered


Forecast Period

2024 –2030



Market Size in 2030

$30 billion

Segments Covered

By Source, By Form, By Application, By Geography

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  • Cargill, Inc.

  • Roquettte Freres

  • Kerry Group

  • Calysta, Inc.

  • Axiom Foods, Inc.

  • Angel Yeast Co. Ltd.

  • Burcon NutraScience Co.

  • Global Bugs Asia Co. Ltd.

  • Cellena, Inc.

  • Aspire Food Group

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1. Alternative Protein Market - Overview
    1.1 Definitions and Scope
2. Alternative Protein Market - Executive Summary
3. Alternative Protein Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Alternative Protein Market - Start-up Companies Scenario Premium (Premium)
    4.1 Key Start-up Company Analysis by
    4.1.1 Investment
    4.1.2 Revenue
    4.1.3 Venture Capital and Funding Scenario
5. Alternative Protein Market – Market Entry Scenario Premium Premium (Premium)
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Alternative Protein Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Alternative Protein Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Alternative Protein Market – by Source (Market Size – $Million/$Billion) 
    8.1 Insect-Based
    8.2 Alternative-Based
    8.3 Plant-Based
    8.4 Others
9. Alternative Protein Market – by Form (Market Size – $Million/$Billion) 
    9.1 Dry
    9.2 Liquid
10. Alternative Protein Market – by Application (Market Size – $Million/$Billion) 
    10.1 Food & Beverage
    10.2 Cattle
    10.3 Aquaculture
    10.4 Animal Feed
    10.5 Pet Food
    10.6 Equine
    10.6 Others
11. Alternative Protein Market – by Geography (Market Size – $Million/$Billion) 
    11.1. North America
        11.1.1 The U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 The Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
        11.5.2 Africa
12. Alternative Protein Market – Entropy
     12.1 New product launches
     12.2 M&A’s, collaborations, JVs and partnerships
13. Alternative Protein Market – Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Market Share by Product Type – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Country – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Alternative Protein Market – Key Company List by Country Premium Premium (Premium)
15. Alternative Protein Market - Company Analysis
    15.1 Cargill, Inc.
    15.2 Roquettte Freres
    15.3 Kerry Group
    15.4 Calysta, Inc.
    15.5 Axiom Foods, Inc.
    15.6 Angel Yeast Co. Ltd.
    15.7 Burcon NutraScience Co.
    15.8 Global Bugs Asia Co. Ltd.
    15.9 Cellena, Inc.
    15.10 Aspire Food Group

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The Alternative Protein Market is projected to grow at 10.4% CAGR during the forecast period 2024-2030.

The global Alternative Protein Market size is estimated to be $15 billion in 2023 and is projected to reach $30 billion by 2030

The leading players in the Alternative Protein market are Cargill, Inc., Roquettte Freres, Kerry Group, Calysta, Inc., Axiom Foods, Inc., Angel Yeast Co. Ltd., Burcon NutraScience Co., Global Bugs Asia Co. Ltd., Cellena, Inc. and Aspire Food Group

Rising Demand for Plant-Based Proteins, Personalization and precision nutrition, Nutritional enhancement, Improved Taste and Texture, Technological Advancements in Fermentation, are some major trends that will shape the market in future.

Rising Demand for healthy & functional foods, Product Diversification, Nutritional Enhancement, Advancements in Food Technology, Changing Consumer Preferences are some driving factors and opportunities for the Alternative Protein market.