Alternative Protein Market Size for Food Application, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

Global Alternative Protein Market for food application will witness over 11% CAGR from 2024 to 2032, driven by the awareness of environmental sustainability. As consumers opt for an eco-friendly lifestyle, they are seeking protein sources with a lower ecological footprint. Additionally, concerns over health and diet are prompting a shift towards plant-based and lab-grown proteins, which are perceived as healthier and less likely to cause chronic diseases. According to a survey conducted by the International Food Information Council in 2023, over half (57%) of Americans have tried alternative proteins, with plant-based ground beef being the most common at 31%, followed by beef alternatives at 23%, plant-based sausage at 22%, and plant-based chicken alternatives at 22%. Further, technological advancements in food production are making alternative proteins more accessible and cost-effective, accelerating market expansion.

The alternative protein market is classified based on source, application, and region.

The insect-based segment will record a significant growth rate over the study period, driven by its efficiency in resource utilization. Insects require significantly less land, water, and feed than traditional livestock, making them a highly sustainable protein source. Additionally, insects have a high feed conversion rate and can be cultivated quickly, which aligns with the growing need for scalable and resilient food systems. As sustainability concerns mount and consumers seek innovative protein sources, insect-based options are gaining traction due to their potential to address global food security challenges while minimizing environmental impact.

The animal feed application segment will clutch a noticeable alternative protein market share by 2032, owing to the adoption of sustainable protein sources within the livestock industry. As the demand for livestock products increases, farmers are exploring alternative proteins that can supplement traditional feed. This shift is motivated by the desire to enhance feed efficiency and reduce the environmental footprint associated with conventional feed ingredients. By integrating alternative proteins into animal feed, producers can improve overall resource utilization and address the challenges of feed scarcity.

Europe alternative protein market will demonstrate a strong growth trend through 2032, driven by robust consumer demand for sustainable and ethical food choices. The increasing awareness of the environmental impact of traditional protein sources has led European consumers to seek more eco-friendly alternatives. Additionally, stringent regulations and government incentives promoting sustainability in food production are fueling market growth. The rise in health-conscious eating and innovations in food technology further bolster the appeal of alternative proteins, creating lucrative opportunities for industry players across the region.

Product Code: 5125

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Rising demand for healthy products with high protein content
  - 3.2.1.2 Government initiatives to boost algae products production
  - 3.2.1.3 Strong preference for plant-based and cell-based seafood products
  - 3.2.1.4 Allergies associated with different alternative proteins alternatives
- 3.2.2 Market challenges
  - 3.2.2.1 Surging R and D activities for scaling up of production capabilities
  - 3.2.2.2 Edible insects with lack of regulatory clarity in the food industry applications
- 3.2.3 Market opportunity
  - 3.2.3.1 New opportunities
  - 3.2.3.2 Growth potential analysis
3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
  - 3.3.2.1 Sustainable manufacturing
    - 3.3.2.1.1 Green practices
    - 3.3.2.1.2 Decarbonization
- 3.3.3 Sustainability in raw materials
- 3.3.4 Pricing trends (USD/Ton)
  - 3.3.4.1 North America
  - 3.3.4.2 Europe
  - 3.3.4.3 Asia Pacific
  - 3.3.4.4 Latin America
  - 3.3.4.5 Middle East and Africa
3.4 Regulations and market impact
3.5 Porter's analysis
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Size and Forecast, By Source, 2021-2032 (USD Million, Kilo Tons)

5.1 Key trends
5.2 Plant-based
- 5.2.1 Soy protein isolates
- 5.2.2 Soy protein concentrates
- 5.2.3 Fermented soy protein
- 5.2.4 Duckweed protein
- 5.2.5 Others
5.3 insect-based
5.4 Microbial-based
- 5.4.1 Bacteria
- 5.4.2 Yeast
- 5.4.3 Algae
- 5.4.4 Fungi
5.5 Others

Chapter 6 Market Size and Forecast, By Application, 2021-2032 (USD Million, Kilo Tons)

6.1 Key trends
6.2 Food
- 6.2.1 Meat analogs
- 6.2.2 Bakery
- 6.2.3 Dairy alternatives
- 6.2.4 Cereals and snacks
- 6.2.5 Beverages
- 6.2.6 Others
6.3 Animal feed
- 6.3.1 Poultry
  - 6.3.1.1 Broiler
  - 6.3.1.2 Layer
  - 6.3.1.3 Turkey
  - 6.3.1.4 Others
- 6.3.2 Swine
  - 6.3.2.1 Starter
  - 6.3.2.2 Grower
  - 6.3.2.3 Sow
- 6.3.3 Cattle
  - 6.3.3.1 Dairy
  - 6.3.3.2 Calf
  - 6.3.3.3 Others
- 6.3.4 Aquaculture
  - 6.3.4.1 Salmon
  - 6.3.4.2 Trout's
  - 6.3.4.3 Shrimps
  - 6.3.4.4 Carp
  - 6.3.4.5 Others
- 6.3.5 Petfood
- 6.3.6 Equine
- 6.3.7 Others

Chapter 7 Market Size and Forecast, By Region, 2021-2032 (USD Million, Kilo Tons)

7.1 Key trends
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Rest of Europe
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Rest of Asia Pacific
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.5.4 Rest of Latin America
7.6 MEA
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 South Africa
- 7.6.4 Rest of MEA

Chapter 8 Company Profiles

8.1 Hamlet Protein A/S
8.2 E.I. Du Pont De Nemours and Company
8.3 Archer Daniels Midland Company
8.4 Nordic Soya Oy
8.5 Deep Branch Biotechnology
8.6 CHS Inc.
8.7 Agriprotein Gmbh
8.8 Darling Ingredients
8.9 Innovafeed
8.10 Ynsect
8.11 Angel Yeast
8.12 Calysta Inc.
8.13 Lallemand, Inc.
8.14 AB Mauri
8.15 Titan Biotech Limited Company
8.16 Sojaprotein
8.17 Crescent Biotech
8.18 The Scoular Company
8.19 Cargill Incorporated
8.20 Nutraferma LLC
8.21 Evershining Ingredients Company
8.22 Imcopa Food Ingredients B.V.
8.23 CJ Selecta
8.24 Ingredion
8.25 Beneo GmbH
8.26 Roquette Freres
8.27 Burcon Nutrascience Corporation
8.28 Mycorena
8.29 Royal DSM NV
8.30 AGT Food and Ingredients
8.31 AMCO Proteins
8.32 Axiom Foods
8.33 DuPont Nutrition Biosciences
8.34 Puris
8.35 8Prinova Group LLC
8.36 Titan Biotech Limited
8.37 Kerry Group
8.38 Emsland Group
8.39 Parabel USA Inc