Market Overview

The Global Protein Alternative Market was valued at USD 15,525.4 million in 2023 and is expected to reach USD 20,762.2 million by 2031 while growing at a CAGR of 3.7% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global protein alternative market growth. Protein alternatives, also called alternative or plant-based proteins, are protein sources not sourced from traditional animal products like meat, poultry, fish, or dairy. They are sought by individuals following vegetarian, vegan, or flexitarian diets, and by those aiming to decrease animal product consumption for health, environmental, or ethical reasons.

Increasing health consciousness, coupled with ongoing advancements in food technology and product development, is fueling the protein alternatives market's growth. Nevertheless, challenges such as taste and texture issues, along with high production costs, may impede the expansion of the market.

Furthermore, the global protein alternative industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Source Analysis

The Global Protein Alternative Market is segmented among Plant Protein, Mycoprotein, Algal protein, and Insect Protein, based on Source. In 2023, Plant Protein accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Application Analysis

The Global Protein Alternative Market is segmented among Food and Beverage, Dietary Supplements, Animal Feed and Pet Food, and Personal Care and Cosmetics, based on Application. In 2023, Food and Beverage accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Protein Alternative Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are The Archer Daniels Midland Company, Cargill Incorporated, Glanbia PLC, Ingredion Incorporated, DuPont de Nemours Inc., Corbion NV, Kerry Inc., Royal Avebe UA, BÜHLER HOLDINGS AG, and Roquette Freres.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Protein Alternative Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Protein Alternative Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Protein Alternative Market Segmentation, By Source

• Global Protein Alternative Market Share Analysis, By Source

• Global Protein Alternative Market Growth Analysis, By Source

• Global Protein Alternative Market Trends, By Source

o Plant Protein

Ø Soy Protein

Ø Wheat Protein

Ø Pea Protein

Ø Other Plant Proteins

o Mycoprotein

o Algal protein

o Insect Protein

6. Global Protein Alternative Market Segmentation, By Application

• Global Protein Alternative Market Share Analysis, By Application

• Global Protein Alternative Market Growth Analysis, By Application

• Global Protein Alternative Market Trends, By Application

o Food and Beverage

Ø Bakery

Ø Confectionery

Ø Plant-Based Dairy Products

Ø Beverages

Ø Other Food and Beverages

o Dietary Supplements

o Animal Feed and Pet Food

o Personal Care and Cosmetics

7. Global Protein Alternative Market Segmentation, By Region

• Global Protein Alternative Market Share Analysis, By Region

• Global Protein Alternative Market Growth Analysis, By Region

• Global Protein Alternative Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• The Archer Daniels Midland Company*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Cargill Incorporated

• Glanbia PLC

• Ingredion Incorporated

• DuPont de Nemours Inc.

• Corbion NV, Kerry Inc.

• Royal Avebe UA

• BÜHLER HOLDINGS AG

• Roquette Freres

 *Similar analysis will be provided for each company listed above.