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.
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COVID-19 / Ukraine Crisis - Impact Analysis:
Alternative Protein Market Share (%) By Region, 2022
Report Metric | Details |
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Base Year Considered | 2022 |
Forecast Period | 2024 –2030 |
CAGR | 10.4% |
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 |
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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.