Global dietary preferences are shifting, and consumers have less of a preference for meat and products made from meat. Consumers who are becoming more flexitarian or vegan have given manufacturers many chances to introduce and innovate in the alternative proteins market. Demand for alternative proteins is being fueled by environmental protection efforts, ethical concerns about factory farming, and health-related issues. Alternative protein businesses are currently growing quickly. To gain a competitive edge in the market, new entrants are using disruptive technologies like artificial intelligence (AI), big data, machine learning, robotics, and the Internet of Things.
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Data Bridge Market Research analyses that the Alternative Proteins Market is valued at USD 349.42 million in 2021 and is expected to reach the value of USD 1,068.88 million by 2029, at a CAGR of 15.00% during the forecast period of 2022-2029. Large food companies and investors are recognizing the growth potential of the alternative proteins market and are actively investing in research and development, production facilities, and marketing efforts to meet the increasing consumer demand.
Key Findings of the Study
Environmental and sustainability concerns is expected to drive the market's growth rate
Increasingly, consumers are recognizing the environmental impact of conventional animal agriculture, including greenhouse gas emissions, land use, and water consumption. As a result, there is a growing demand for alternative proteins that offer a more sustainable and environmentally friendly choice. By opting for plant-based proteins, cellular agriculture, or other alternative protein sources, consumers can reduce their carbon footprint and contribute to a more sustainable food system, driving the growth of the alternative proteins market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Category (Organic and Inorganic), Product Type (Alternative Proteins, Insect Protein, Mycoprotein, Cultured Meat and Others), Form (Dry and Liquid), Application (Food and Beverages, Animal Feed, Pharmaceuticals, Personal Care and Cosmetics and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Glanbia plc. (Ireland), Now Health Group, Inc. (U.S.), Nutiva Inc (U.S.), The Simply Good Food Co (U.S.), Iovate Health Sciences International Inc. (Canada), MusclePharm Corporation (U.S.), Kerry Group Plc (Ireland), CytoSport, Inc. (U.S.), The Nature's Bounty Co. (U.S.), Reliance Vitamin Company, Inc. (U.S.), Herbalife Nutrition, Inc. (U.S.), Danone SA (France), General Nutrition Centers (GNC) Holdings, Inc. (U.S.), Orgain Inc. (U.S.), True Nutrition (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The alternative proteins market is segmented on the basis of category, product type, form and application.
- On the basis of category, the alternative proteins market is segmented into organic and inorganic. The inorganic segment has dominated the alternative proteins market with a CAGR of 14.2% in the forecast period of 2022 to 2029 due to their high nutritional value, sustainable production methods, and versatility in various food applications, catering to the growing demand for alternative protein sources.
In 2022, the inorganic segment has dominated the category segment of the alternative proteins market
In 2022, the inorganic segment has dominated the category segment of the alternative proteins market owing to the growing demand for alternative protein sources through their high nutritional value, environmentally friendly production processes, and adaptability in a variety of food applications with a CAGR of 14.2% in the forecast period of 2022 to 2029.
- On the basis of product type, the alternative proteins market is segmented into alternative protein, plant protein, Insect Protein, mycoprotein, cultured meat, and others. The alternative proteins segment, including plant-based proteins, dominates the market due to the increasing demand for sustainable and plant-based protein options among consumers with a CAGR of 15.2% in the forecast period of 2022 to 2029
In 2022, the alternative protein segment has dominated the product type segment of the alternative proteins market
In 2022, the alternative plant protein segment has dominated the product type segment of the alternative proteins market owing to the growing consumer demand for healthy, plant-based protein options with a CAGR of 15.2% in the forecast period of 2022 to 2029.
- On the basis of form, the alternative proteins market is segmented into dry and liquid. The dry segment has dominated the alternative proteins market with a CAGR of 14.6% in the forecast period of 2022 to 2029 due to their convenience, longer shelf life, ease of storage and transportation, and versatility in various food and beverage applications, catering to the evolving needs of consumers.
- On the basis of application, the alternative proteins market is segmented into food and beverages, animal feed, pharmaceuticals, personal care and cosmetics, and others. The food and beverages segment has dominated the alternative proteins market with a CAGR of 14.4% in the forecast period of 2022 to 2029 due to increasing demand for plant-based and meat substitute products in various food categories, including dairy alternatives, meat analogs, snacks, and beverages, driven by changing consumer preferences and a growing focus on health and sustainability.
Major Players
Data Bridge Market Research recognizes the following companies as the major alternative proteins market players in the alternative proteins market are DuPont (U.S.), Cargill (U.S.), BENEO (U.S.), and CHS Inc. (U.S.)
Market Development
- In 2022, Protix (Netherlands) raised €50 million in equity for global expansion.
- In 2021, Calysta (U.S.) raised $39 million in funding to support the expansion of FeedKind protein production across the globe.
- In 2021, to finance its growth and expansion, Entomo Farms (Canada) raised Canadian Dollars (C$) 3.7 million ($2.9 million) in a funding round that was co-led by Asian and Canadian investors.
- In 2020, A Series D financing round for MycoTechnology (U.S.) raised $120.69 million from investors
- In 2020, The Dutch food technology company Mosa Meat will receive a $75 million investment from Mitsubishi Corporation, Blue Horizon Ventures, Target Global, ArcTern Ventures, and Rubio Impact Ventures.
Regional Analysis
Geographically, the countries covered in the alternative proteins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the alternative proteins market during the forecast period 2022- 2029
North America's strong position in the alternative proteins market is driven by various factors. The region has witnessed a growing focus on sustainable protein production due to environmental and ethical concerns related to animal protein. Increased investments in alternative protein products have also fueled market growth. Furthermore, there is a rising demand for healthy and nutritious food options among consumers, driving the adoption of alternative proteins. Technological advancements in the food industry have further supported the development and production of alternative protein sources in North America.
Asia-Pacific is estimated to be the fastest growing region in alternative proteins market the forecast period 2022 - 2029
The Asia-Pacific region is projected to experience the highest compound annual growth rate (CAGR) in the global alternative proteins market. This growth can be attributed to several factors, including the rising awareness of the significance of protein-rich diets among consumers, advancements in technology within the food and beverage industry, a rapidly growing economy, and abundant access to raw materials. These factors collectively contribute to the region's increasing demand for alternative protein sources as a sustainable and nutritious food option.
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