According to the report by Expert Market Research (EMR), the Global Alternative Proteins Market Size is projected to grow at a CAGR of 13.4% between 2023 and 2028. Aided by the growing food industry and the rising inclination towards veganism, the market is expected to grow significantly by 2028.
Alternative proteins are derived from a variety of sources, including plants, insects, algae, and lab-grown meats. These sources present a more sustainable and oftentimes more nutritious option when compared to traditional animal proteins, thus earning them increasing acceptance in food and beverage applications. Alternative proteins are commonly found in products such as plant-based meats, dairy-free milk, insect-based snacks, and cell-based meat products, playing an essential role in supporting overall health and addressing nutritional needs.
The burgeoning consumer shift towards sustainable food options is a key factor propelling the global alternative proteins market growth. As a growing number of individuals become aware of the environmental impacts associated with conventional animal farming, there is a significant movement towards diets that are rich in alternative proteins. This is leading to a surge in demand for products featuring plant-based proteins, insect proteins, and other non-traditional protein sources.
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The diversifying applications of alternative proteins across several industries also significantly contribute to alternative proteins market development. In the pharmaceutical industry, proteins derived from non-animal sources are being explored for their potential in therapeutic applications, including drug delivery and tissue engineering. The cosmetics industry is leveraging alternative proteins for their unique properties, including their potential for hydration, skin firming, and anti-aging.
Further fuelling the growth of the alternative proteins market is the skyrocketing demand for plant-based and other non-animal-derived alternatives in the food and beverage industry. Driven by the rise of flexitarian, vegetarian, and vegan lifestyles and the escalating popularity of plant-forward diets, alternative proteins have gained significant traction. They have become vital ingredients in the formulation of plant-based meat substitutes, dairy-free cheeses, non-dairy milk alternatives, and a myriad of other products. This expanding demand for plant-based and other innovative alternatives provides a substantial impetus to the alternative proteins market expansion.
Another influential trend is the technological advancements in the field of alternative proteins. From innovative methods of protein extraction and purification to the development of cell-cultured meat, advancements in technology are creating new opportunities and driving the alternative proteins market growth. These breakthroughs not only allow for the production of proteins that closely mimic the taste and texture of their animal-based counterparts but also significantly reduce the environmental footprint of protein production.
The market can be divided based on source, ingredient, end use, distribution channel, and region.
Market Breakup by Source
- Plant Based
- Cellular Agriculture
Market Breakup by Ingredient
- Bulk Ingredients
- Speciality Ingredients
Market Breakup by End Use
- Food and Beverage
- Animal Feed
Market Breakup by Distribution Channel
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global alternative proteins companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- I. Dupont De Nemours and Company
- Greenleaf Foods SPC
- Glanbia Plc
- Archer Daniels Midland Company
- Darling Ingredients
- Cargill Incorporated
- Kerry Group
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