Alternative Protein Market Report 2023 (Global Edition)

Global Alternative Protein Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Alternative Protein Industry growth. Alternative Protein market has been segmented with the help of its Source Type, Application , and others. Alternative Protein market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

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By Source Type, Plant-based Protein segment accounted for 51.04% share of total Alternative Protein market in 2020

Plant-based proteins segment dominated the market of alternative proteins mainly because of the increasing adoption of consuming more sustainable and healthy food. Moreover, trend for veganism has relatively increased in the last few years across the globe. Hence, consumers seeking healthier, more sustainable lifestyle are increasingly gravitating toward vegan and plant-based diets which is mounting the dominance of plant-based alternative protein in the market.

Among plant-based protein type, soy held highest market share as it is the most commonly used ingredient in making plant-based meat due to high protein content. The ingredient called soy leghaemoglobin which is found in roots of soybean, is used in many plant-based burgers because of its ability to make fake meat “bleed” when cooked. Further, it is rich in non-heme iron which especially provide iron content to vegetarian people who has higher probability of iron deficiency.

• Plant-based
• Insect-based
• Microbial-based

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By Application, Meat Analog segment accounted for 29.47% share of total Alternative Protein market in 2020

This can be attributed to the high awareness regarding the health impact due to consuming meat. People are thus more inclined towards alternative options that can mimic the product in taste and appearance.

Plant-based meats are products that perfectly mimics animal meats in texture as well as taste. Various protein sources, such as tofu, legumes, seitan, lentils, and soybeans are used to make plant-based meats. Moreover, it tends to be lower in saturated fat and calories, with high fibrous value.

• Meat Analog
• Bakery
• Beverages
• Cereals
• Dairy Alternatives
• Animal Feed
• Pet Food
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Alternative Protein market report 2023 Edition by contacting our team.

The North America Alternative Protein  Market dominates overall market:

North America Alternative Protein Market dominates overall market with a market share of 36.24%

The North America alternative protein market dominates the overall market mostly because of the presence of major players in the U.S. Further, people in North America are more inclined towards healthy eating habits, along with consumption of sustainable products. In year 2018, U.S. consumers bought 157 million units of plant-based products which allowed industry to grow exponentially.

APAC shows profitable growth in near future attributing to huge adoption of alternative protein in countries like China, Japan, and India. Population of these countries are adopting healthy lifestyle, urging to use natural ingredients. Further, demand for sustainable food is increasing owing to rising prices of animal-meat products amid COVID-19 pandemic.

Region-wise, the market is analyzed across: (In case you wish to acquire a specific region or any country data then please contact us)

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

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Recent Developments:

April 2022

Archer Daniels Midland has invested approximately $300 million to boost production of alternative proteins:

Archer Daniels Midland has invested roughly $300 million to ramp up production of alternative proteins at its Decatur, Illinois, plant. The project is expected to be finished in the first quarter of 2025. The expansion of this facility will increase its soy protein concentrate capacity and nearly double the facility’s extrusion capacity.

April 2022

Cargill has expanded RadiPure pea protein into the META & India markets:

As consumer-base for plant-based food products is increasing, Cargill has expanded RadiPure pea protein in Middle East, Turkey, Africa (META) & India. The company is doing so because of the growing demand for protein-rich, plant-based foods in this region.

November 2022

Ingredion has declared its focus on plant-based proteins, texturants

Ingredion, Inc. is sharpening its focus on becoming a leader in texturizing, sugar reduction and plant-based proteins. During the quarter, the specialty ingredient supplier faced higher corn and other input costs.

January 2023

Roquette has invested in DAIZ, an innovative Japanese food tech startup

Roquette has announced its investment in DAIZ Inc., a Japanese food tech startup that has developed breakthrough technology utilizing germination of plant seeds combined with an extrusion process to enhance texture, flavor and the nutritional profile for plant-based foods. This partnership will allow Roquette and DAIZ to continue realizing their strong growth ambitions and meet rising global demand for innovative and sustainable plant-based ingredients combining great taste and high-quality nutritional value.

November 2021

Roquette has opened world's largest pea protein plant

Roquette has opened world's largest pea protein plant extending its leadership position to meet surging global demand for alternative proteins.

Top Companies Market Share in Alternative Protein Industry: (In no particular order of Rank)

• Archer Daniels Midland Company
• Cargill Incorporated
• Kerry Group
• Now Foods
• Ingredion Incorporated
• Roquette Freres
• Beyond Food
• CHS Inc
• Sotexpro
• Beneo GmbH
• Others
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