Tag: Food Alternative Protein Market size

Food Alternative Protein Market is Expected to Reach US$ 52.3 Billion by 2032- IMARC Group

The latest report by IMARC Group, titled “Food Alternative Protein Market Report by Source (Plant-based, Insect-based, Microbial-based), Application (Meat Analogs, Bakery, Dairy Alternatives, Cereals and Snacks, Beverages, and Others), and Region 2024-2032“, The global food alternative protein market size reached US$ 19.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2032, exhibiting a growth rate (CAGR) of 11.1% during 2024-2032.

Factors Affecting the Growth of the Food Alternative Protein Industry:

  • Restaurant and Food Service Industry Growth:

The restaurant and food service industry is shifting toward the incorporation of alternative proteins due to evolving consumer preferences and growing awareness of sustainability and health. Additionally, restaurants, fast food chains, and food service providers are expanding their menus to include plant-based and lab-grown meat options, along with dairy-free dishes and other innovative food items. This trend is catering to vegetarians and vegans and attracting flexitarians and meat-eaters who are looking for healthier and more environmentally friendly choices. Moreover, the inclusion of these alternatives helps restaurants diversify their offerings, appeal to a broader customer base, and stay competitive in a rapidly changing market. Furthermore, the adoption of alternative proteins aligns with global sustainability goals, reducing the carbon footprint associated with traditional meat production. Hence, this transformation in the food service industry signifies a pivotal shift toward more sustainable and health-conscious dining options.

  • Expansion of Nutritional and Supplement Industry:

The nutritional and supplement industry is experiencing robust growth due to the increasing demand for alternative proteins. Additionally, companies are leveraging these proteins to develop a variety of products, including protein powders, bars, and supplements, catering to athletes, fitness enthusiasts, and individuals seeking high-protein dietary options. Moreover, alternative proteins, such as pea protein, soy protein, and other plant-based sources, offer significant benefits, including being easily digestible, hypoallergenic, and sustainable. These products support muscle recovery and growth while appealing to consumers looking for clean-label, allergen-free, and eco-friendly alternatives. The industry’s focus on innovation has led to the creation of fortified foods and beverages that provide essential nutrients without relying on animal-derived ingredients. Hence, this expansion is fueled by growing consumer awareness about the environmental impact of animal agriculture, prompting a shift toward more sustainable and health-conscious choices in the dietary supplement market.

  • Pharmaceutical and Biotechnology Industry Growth:

The pharmaceutical and biotechnology industries are exploring the potential of alternative proteins, particularly those derived from fermentation and cellular agriculture, to create new pharmaceuticals and biotechnological applications. These proteins offer promising avenues for developing novel therapies and ingredients that can revolutionize healthcare and medicine. For instance, fermentation-based proteins are widely employed to produce bio-identical compounds with therapeutic properties, offering a sustainable and scalable alternative to traditional methods. Along with this, cellular agriculture, which involves growing meat and other animal products from cells, is opening up possibilities for creating lab-grown bioactive proteins that can be tailored for specific medical purposes. These advancements address ethical and environmental concerns associated with conventional animal farming and enable precise and controlled production of pharmaceutical-grade compounds.

Competitive Landscape with Key Player:

  • AMCO Proteins
  • Archer-Daniels-Midland Company
  • Cargill, Incorporated
  • Ingredion Incorporated
  • Koninklijke DSM N.V.
  • Lallemand Inc.
  • Puris
  • The Scoular Company

Request Sample For PDF Report: https://www.imarcgroup.com/food-alternative-protein-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Source:

  • Plant-based
  • Insect-based
  • Microbial-based
    • Bacteria
    • Yeast
    • Algae
    • Others

Plant-based represents the largest segment due to their wide availability, consumer preference for natural and sustainable options, and ongoing innovations in plant-derived food products.

Breakup by Application:

  • Meat Analogs
  • Bakery
  • Dairy Alternatives
  • Cereals and Snacks
  • Beverages
  • Others

Meat analogs account for the largest market share as they effectively mimic the taste and texture of traditional meat, catering to vegetarians and meat-reducers seeking familiar flavors.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America’s dominance in the food alternative protein market is attributed to its growing consumer awareness, strong investment in food tech innovation, and a robust distribution network for alternative protein products.

Global Food Alternative Protein Market Trends:

There is growing consumer interest in alternative proteins driven by health concerns, environmental sustainability, and ethical considerations regarding animal welfare. This has led to a surge in demand for plant-based and lab-grown proteins. Additionally, several innovations in biotechnology and food science are improving the taste, texture, and nutritional profile of alternative proteins. Techniques such as precision fermentation are being used to create proteins that closely mimic animal products. Furthermore, significant investment is flowing into the alternative protein sector, with venture capitalists and food companies investing in startups and acquiring companies specializing in this space. This financial support is driving research and accelerating product development.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact USsss

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145

Food Alternative Protein Market Size, Industry Trends, Share, Growth and Report 2024-2032

The latest report by IMARC Group, titled “Food Alternative Protein Market Report by Source (Plant-based, Insect-based, Microbial-based), Application (Meat Analogs, Bakery, Dairy Alternatives, Cereals and Snacks, Beverages, and Others), and Region 2024-2032“, The global food alternative protein market size reached US$ 19.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2032, exhibiting a growth rate (CAGR) of 11.1% during 2024-2032.

Factors Affecting the Growth of Food Alternative Protein Industry:

  • Environmental Sustainability:

One of the primary drivers fueling the growth of the food alternative protein market is the increasing awareness about environmental sustainability. Traditional animal agriculture is associated with significant environmental impacts, including greenhouse gas emissions, land use, water consumption, and deforestation. As the global population continues to grow and demand for protein-rich diets rises, the environmental strain caused by conventional livestock farming becomes more pronounced. Alternative protein sources, such as plant-based proteins and cultured meat, offer a promising solution to mitigate these environmental challenges. Plant-based proteins require significantly fewer natural resources, emit fewer greenhouse gases, and have a lower ecological footprint compared to animal-based proteins. Moreover, technologies, such as cellular agriculture enable the production of meat without the need for large-scale animal farming, reducing land use and water consumption while minimizing environmental degradation.

  • Changing Health and Wellness Trends:

Another significant factor driving the food alternative protein market is the increasing focus on health and wellness among consumers. There is a growing body of evidence linking excessive consumption of animal-based products to various health issues, including heart disease, obesity, and certain cancers. As a result, many consumers are seeking healthier dietary options that are lower in saturated fats, cholesterol, and other harmful compounds commonly found in animal-derived proteins. Plant-based proteins offer a compelling alternative for health-conscious consumers, as they are generally lower in fat and cholesterol while being rich in essential nutrients such as fiber, vitamins, and minerals. Additionally, plant-based diets have been associated with numerous health benefits, including reduced risk of chronic diseases and improved overall well-being.

  • Ethical and Animal Welfare Concerns:

Ethical considerations and concerns for animal welfare are also significant drivers behind the rise of the food alternative protein market. Increasingly, consumers are questioning the morality and ethics of conventional animal farming practices, such as confined animal feeding operations (CAFOs) and factory farming, which are often associated with animal cruelty, stress, and suffering. The shift toward alternative protein sources reflects a broader societal trend toward more compassionate and ethical consumption choices. Plant-based proteins and cultured meat offer a cruelty-free alternative to traditional animal products, as they do not involve the slaughter or exploitation of animals. This resonates with consumers who prioritize ethical treatment of animals and seek products that align with their values.

Competitive Landscape with Key Player:

  • AMCO Proteins
  • Archer-Daniels-Midland Company
  • Cargill, Incorporated
  • Ingredion Incorporated
  • Koninklijke DSM N.V.
  • Lallemand Inc.
  • Puris
  • The Scoular Company

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/food-alternative-protein-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Source:

  • Plant-based
  • Insect-based
  • Microbial-based
    • Bacteria
    • Yeast
    • Algae
    • Others

Plant-based dominates the market due to its alignment with environmental sustainability, health and wellness trends, and ethical considerations, appealing to a wide range of consumers seeking more sustainable, healthier, and ethically produced food options.

Breakup by Application:

  • Meat Analogs
  • Bakery
  • Dairy Alternatives
  • Cereals and Snacks
  • Beverages
  • Others

Meat analogs holds maximum number of shares due to their ability to closely replicate the taste, texture, and nutritional profile of traditional meat products, appealing to consumers seeking plant-based alternatives without compromising on sensory experience.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America’s dominance in the food alternative protein market is attributed to high consumer demand for innovative food products, strong investment in food technology research and development, and a well-established infrastructure supporting the production and distribution of alternative protein products.

Global Food Alternative Protein Market Trends:

Cultural and dietary shifts play a significant role in driving the demand for food alternative proteins. As societies become more diverse and interconnected, there is a growing appreciation for different cuisines and dietary preferences. Many cultures have traditional dishes that are plant-based or utilize alternative protein sources, and as these culinary traditions gain popularity globally, there is a natural inclination toward incorporating more plant-based options into mainstream diets. Additionally, as urbanization increases and lifestyles become more fast-paced, there is a greater demand for convenient and on-the-go food options, making plant-based alternatives increasingly appealing to consumers seeking healthier and more sustainable choices. Furthermore, food security concerns, including issues related to population growth, food supply chain disruptions, and the impact of climate change on agricultural productivity, are driving interest in alternative protein sources. Traditional livestock farming is resource-intensive and vulnerable to various environmental and geopolitical factors, which can affect food availability and affordability.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163