Alternative Protein Market Size, Share, Growth Analysis, By Type(Plant-Based Protein, Insect-Based Protein, Microbial-Based Protein), By Application(Cereals & Snacks, Beverages, Animal Feed, Nutraceuticals), By Region - Industry Forecast 2024-2031

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).

Protein is the body's fundamental building block and an essential macronutrient. The FAO (Food and Agriculture Organization) recommends that men, women, and children consume roughly 0.75 grams of protein per kilogram of body weight regularly. People's growing awareness necessitates a higher protein intake. Dairy protein, plant-based protein, animal-based protein, insect-based protein, and microbial protein are all examples of protein sources. The dairy business controls the largest protein market, accounting for a significant portion of the total. However, the development of alternative protein sources is mainly done to replace the extensively utilized dairy and meat protein sources.

This is being driven by the new vegan diet concept and health-conscious individuals. Soybean, pea protein, rice protein, cultured meat protein, mycoprotein, and algal spirulina as algae-based protein are all sources of vegan protein. In addition, crickets have accounts based on insects, according to the BSF (black soldier flies). All of these protein types can be utilized in a variety of businesses. Dairy is an expensive source of protein for animal feed and other industrial applications, and animal feed demand is at an all-time high, expanding exponentially year after year. As a result, an alternative protein supply is required to match the demand. This encourages investment in non-traditional protein sources.

US Alternative Protein Market  is poised to grow at a sustainable CAGR for the next forecast year.