Protein Alternatives Market to Be Worth USD25.2bn by 2029

meat alternatives

The protein alternatives market is estimated at USD15.7bn in 2024 and is projected to reach USD25.2bn by 2029, at a CAGR of 9.9% from 2024 to 2029 according to a new report by MarketsandMarkets.

The alternative proteins market has witnessed remarkable growth in recent years, driven by a confluence of factors including rising consumer health consciousness, environmental concerns, and ethical considerations regarding animal welfare.

These proteins, derived from plant-based sources, insects, and algae present sustainable and efficient options compared to traditional animal-based proteins. The market expansion is bolstered by significant advancements in food technology, enabling the production of alternative proteins that closely mimic the taste, texture, and nutritional profile of conventional meat, thus broadening their appeal to a wider consumer base.

Demand for alternative proteins is particularly robust in the food sector, where consumers are increasingly seeking healthier and more sustainable food options. This shift is reflected in the growing popularity of plant-based meat products, dairy alternatives, and protein-rich snacks.

In the feed sector, alternative proteins such as insect-based meals and algae are gaining traction as sustainable feed options for livestock and aquaculture, addressing the challenges of feed security and reducing the environmental footprint of animal farming.

The market’s dynamic growth trajectory is supported by substantial investments from major food corporations and startups alike, highlighting the potential of alternative proteins to transform the future of food and feed industries.

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