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Alternative Protein Market Trends

Report ID: GMI5125
Published Date: Nov 2023
Report Format: PDF

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Alternative Protein Market Trends for Food Application

The rising government support in recognizing the potential benefits of alternative proteins for sustainability through funding and regulatory frameworks to encourage the development and sale of products will contribute to the industry growth. To cite an instance, in November 2023, the German Government, in its 2024 budget, allocated €38m for promoting precision-fermented, cultivated as well as plant-based meat and dairy alternatives. The growing collaborations of several government agencies with research institutions and universities for advancing in alternative proteins and their potential impacts on health and environment will also influence the product uptake.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of alternative protein for food application is poised to expand at 17.5% CAGR from 2023 to 2032, led by the rising innovations in plant-based alternatives, such as sausages, burgers, and dairy substitutes.

Alternative protein industry for food application from the plant-based source segment is projected to observe over 17.5% CAGR from 2023 to 2032 due to the surging emphasis on healthy lifestyles across the globe.

Demand for alternative proteins for food application in the Asia Pacific is projected to record over 18.5% CAGR from 2023 to 2032, owing to the higher consumer spending on healthy and protein-fortified products along with the rising intake of human nutrition supplements in the region.

Some of the leading alternative protein providers for food applications include Archer Daniels Midland Company, Cargill, Ingredion, Kerry Group, DSM NV, and Scoular Company