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Alternative Protein Market size was valued at USD 60.45 billion in 2019 and is poised to grow from USD 71.63 billion in 2023 to USD 330.05 billion by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031).

The Alternative Protein Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Cargill Inc., Ingredion Incorporated, Tate & Lyle Plc, and Ÿnsect (SAS) among others who are driving the market. 'Archer Daniels Midland Company (US)', 'Cargill Inc. (US)', 'Roquette Frères (France)', 'Ingredion Incorporated (US)', 'Kerry Group (Ireland)', 'International Flavors & Fragrances, Inc. (IFF) (US)', 'Now Foods (US)', 'Tate & Lyle Plc (U.K.)', 'Axiom Foods Inc. (US)', 'Burcon NutraScience Corporation (Canada)', 'Beneo GmbH (A Part of Südzucker AG) (Germany)', 'Glanbia Plc (Ireland)', 'Sotexpro (France)', 'Farbest-Tallman Foods Corporation (US)', 'CHS Inc. (US)', 'Ÿnsect (SAS) (France)', 'Enterra Feed Corporation (Canada)', 'Protix B.V. (Netherlands)', 'Entomo Farms (Canada)'

Plant-based products are an ethical and sustainable alternative to animal-derived products since well-established meat and dairy enterprises are under constant criticism from civil society groups and new food enterprise players.

The general public health and environmental crises that engulfed the sector in 2020 and 2021 have highlighted the dangers associated with established company groups and methods hence, driving the demand for alternative protein sources.

North America accounted for the largest share of the Alternative Protein Market in 2021. North America's prominent position in the Alternative Protein Market can be ascribed to a growing realization of the importance of producing protein using sustainable ways in light of rising environmental concerns and moral concerns about animal protein. The burgeoning vegan population, more investment in alternative protein goods, and increased demand for healthier products have all resulted in technological advancements in the food sector that encourage alternative protein.

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Global Alternative Protein Market

Product ID: SQMIG30I2161