Alternative Proteins Market Size, Share, Industry, Forecast and Outlook (2023-2030)

Alternative Proteins Market Is Segmented By Type (Organic, Inorganic), By Form (Dry, Liquid), By Source (Plant Protein, Mycoprotein, Insect Protein, Algal Protein, Cultured Meat, Others), By Application (Food & Beverages, Animal Feed & Pet Food, Personal Care and Cosmetics, Pharmaceuticals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Alternative Proteins Market Overview

The Global Alternative Proteins Market was valued at US$ 25.7 Billion in 2022 and is expected to reach USD 81.9 Billion by 2030, exhibiting a CAGR of 15.6% during the forecast period (2023-2030)

Plant-based and food-tech alternatives to animal protein are known as alternative proteins. Food manufactured from plants (including grains, legumes and nuts), fungi (like mushrooms), algae, insects and even cultured (lab-grown) meat is among them. Furthermore, the alternative proteins come from plant sources such as soy, wheat, pea, rice and others. Mycoprotein is a different, healthy protein source produced from the naturally occurring fungus Fusarium venenatum with a texture similar to meat. Other alternative proteins include insect, algal protein and cultured meat.

Alternative Proteins Market Scope

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Alternative Proteins Market Dynamics

Increasing inclination toward organic proteins

By 2050, the world's population is predicted to have grown to 9.7 billion people. Consumers in North America and Europe actively search for sustainability and health features, such as increasing plant-based proteins in their diets. Alternative proteins are becoming more popular in wealthy countries as consumers become more aware of them. 

Meat has been the primary source of protein for a long time in developed countries and traditional protein consumption has expanded in developing economies in recent years. However, the organic alternative-proteins market has grown due to changing consumer behavior and interest in alternative protein sources, including health and environmental concerns and animal welfare.

Plant proteins are well-positioned to meet this dynamic need as consumers want more sustainable innovation in the supplement industry. Similarly, as a growing number of health-conscious customers move to the organic area, industry analysts see great opportunities for organic proteins. In 2018, sales of plant-based foods (the most common alternative protein source) increased by 17%. The major use of alternative protein as a food ingredient in consumer products is expected to continue to rise.

Allergies linked to alternative proteins 

Alternative proteins, such as plant-based and lab-grown meat, have gained significant attention in recent years due to concerns about the environmental impact of traditional meat production and the growing demand for sustainable food options. However, despite the potential benefits, the market growth of alternative proteins has been hampered by concerns about allergies.

One of the primary allergens linked to alternative proteins is soy. Soy is a common ingredient in many plant-based meat products and consuming these products can lead to severe allergic reactions for individuals with soy allergies. In some cases, the reactions can be life-threatening. It has resulted in a reluctance among some consumers to try alternative protein products, which has limited the market growth.

Alternative Proteins Market Segment Analysis

The global alternative proteins market is segmented based on type, source, form, application and region.

Consumers are increasing shift toward a more nutritional diet focusing on a more sustainable lifestyle

The plant Protein source in alternative proteins dominates the global market. The plant protein segment accounted for the largest share of the overall alternative proteins market in 2021. Plant-based proteins are the most well-established and are derived from protein-rich seeds through wet or dry fractionation. The most popular types of plant proteins for consumers are soy, pea and several niche types, such as chickpea, rapeseed and lupin, among others.

Consumer preferences are shifting toward a more nutritional diet focusing on a more sustainable lifestyle and less reliance on animal proteins, as shown by changing consumer preferences.

Consumers are shifting from traditional animal-based products to organic and plant-based food products as an optimum dietary solution, according to a significant percentage of the millennial population in Western countries.

Source: DataM Intelligence Analysis (2023)

Global Alternative Proteins Market Geographical Share

Asia-Pacific increasing protein-rich diet awareness, health consciousness and growing technological advancements

The Asia Pacific countries are anticipated to witness the fastest growth over the forecast period because of protein-rich diet awareness, increasing health consciousness and rising technological advancements in the food & beverages industry.

The African swine fever, which wiped out millions of pigs and created a shortage of meat protein in Asia in 2020, has exposed the vulnerability of the food system in the region, which is responsible for the highest consumption of meat in the world.

Countries with limited local agriculture, such as Hong Kong or Singapore, which currently imports 90% of its food, have been especially vulnerable to the supply chain disruptions caused by the pandemic. Alternative proteins derived from plants, insects, fungi or cell cultures could offer a more reliable and sustainable protein source than conventional animal-based products.

Hong Kong is undoubtedly a strong contender for the title of Asia's center for alternative protein, especially with organizations headquartered there, such as Green Monday. In addition to the Green Common stores, the social venture produces plant-based meat and seafood substitutes OmniFoods and runs educational campaigns on sustainable diets via the Green Monday Foundation.

Source: DataM Intelligence Analysis (2023)

Alternative Proteins Market Companies

The major global players include Koninklijke DSM N.V, Kerry Group, DuPont, Cargill, Incorporated, Ÿnsect, Ingredion Incorporated, Emsland Group, Cosucra Group and Batory Foods Chapul.

Key Developments

• On July 15, 2020, DSM and Avril completed their joint venture to develop plant-based proteins. Avril and DSM finalized their partnership and will begin construction on a manufacturing facility in Dieppe, France, one year after their collaboration. The collaboration of DSM will enable the production of the company’s product CanolaPRO an alternative plant-based protein.
• On March 23, 2021, DSM launched a plant-based protein source from the canola plant.CanolaPRO is a plant-based protein source derived from the canola (or rapeseed) plant.
• On June 15, 2022, Batory Foods announced a partnership with DouxMatok, a U.S.-Israeli food tech company, to expand the development of new alternative proteins.

Why Purchase the Report?

• To visualize the global alternative proteins- market segmentation based on type, source, form, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of alternative proteins market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

The global alternative proteins market report would provide approximately 69 tables, 69 figures and 203 Pages.