Alternative Protein Market Size

Alternative Protein Market Size for Food Application

Alternative Protein Market size for Food Application is anticipated to witness more than 17.5% CAGR from 2023 to 2032, driven by the influx of plant-based trends and the rising innovations in plant-based alternatives, such as sausages, burgers, and dairy substitutes.

The growing popularity of cellular agriculture, comprising the development of cultured and lab-grown meat has compelled multiple companies to focus on R&D activities to address the mounting sustainability concerns related to traditional livestock farming. The hefty investments and fundings in the alternative protein sector from venture capitalists and major food corporations for scaling up of the production capabilities will also prove favorable for the alternative protein market for food application expansion. To cite an instance, in September 2023, UK Research and Innovation (UKRI) disclosed plans to invest £15 million for creating a new hub for sustainable protein research in a bid to scale up the production of high-quality plant-based, fermented and cultivated meat.

The rising consumer awareness regarding the environmental impacts of traditional livestock farming will play ideal role in the adoption of alternative protein products on account of their lower environmental footprint. On the contrary, the growing concerns of allergies associated with the consumption of different alternative proteins may hinder the alternative protein market for food application growth to some extent.