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The Alternative Protein Market is projected to reach $40.7 billion by 2030, at a CAGR of 13% during the forecast period (2023–2030). The growth of this market is driven by rapid urbanization and growing consumer aspirations, increasing venture investments in the alternative proteins industry, innovations in food technologies, the high nutritional value of edible insects, and the environmental sustainability of alternative protein production and consumption. However, the higher costs of alternative proteins compared to conventional proteins and consumers’ high preference for animal-based products restrain the growth of this market. Furthermore, consumers’ increasing inclination toward plant-based foods is expected to generate growth opportunities for the players operating in the alternative proteins market.
Here are the top 10 companies operating in the Alternative Protein Market
Archer Daniels Midland Company
Archer Daniels Midland Company (ADM) is involved in manufacturing, selling, and distributing food ingredients and flavors for foods and beverages, supplements, nutrition for pets and livestock, and more. The company operates through four business segments: Agricultural Services & Oilseeds, Carbohydrate Solutions, Nutrition, and Other Businesses.
The Nutrition segment manufactures, sells, and distributes natural flavor ingredients, flavor systems, natural colors, proteins, emulsifiers, soluble fiber, polyols, hydrocolloids, and natural health and nutrition products, including probiotics, prebiotics, enzymes, and botanical extracts; other specialty food and feed ingredients; edible beans; formula feeds, animal health, and nutrition products; and contract and private-label pet treats and foods. The company offers alternative proteins sourced from soy, wheat, pea, and yeast.
The company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Cargill, Incorporated
Cargill, Incorporated is involved in the manufacturing and marketing of food, agriculture, and financial & industrial products & services worldwide. The company operates through five business segments: Food Ingredients & Bio-industrial, Animal Nutrition, Protein & Salt, Agriculture Supply Chain & Energy, and Transportation & Metals. The company offers alternative proteins derived from soy, pea, wheat, and corn.
With manufacturing facilities in 70 countries, the company sells its products in more than 125 countries worldwide. The company runs operations for alternative protein ingredients in the U.S., Canada, Central America, China & Southeast Asia, and the U.K.
Roquette Frères is involved in producing specialty food ingredients and pharmaceutical excipients. The company operates through seven business segments: BioPharma, Pharma & Nutraceuticals, Cosmetics, Food & Nutrition, Animal Nutrition, Nutralys Plant Protein, and other Industrial Markets. The company offers alternative proteins, such as pea protein, wheat protein, potato protein, corn protein, and Chlorella through its Food & Nutrition segment.
With 25 operating plants and several sales subsidiaries, the company has its geographic presence in France, the U.S., China, Korea, Japan, Singapore, India, Mexico, France, Italy, Spain, Romania, the U.K., Germany, Finland, and the Russian Federation.
Ingredion Incorporated produces and sells ingredient solutions for various industries. Ingredion Incorporated was formerly known as Corn Products International, Inc. and changed its name to Ingredion Incorporated in June 2012. The company offers its products through six business segments: Food, Beverage, Paper & Corrugating, Animal Nutrition, Brewing, and Others. The company offers plant-based proteins used in processed foods, such as bakery products, snacks & cereals, and meat substitutes through its Food segment.
The company has 47 manufacturing facilities and a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Kerry Group is engaged in the research & development, and manufacture of functional ingredients and actives for the food, beverage, and pharmaceutical industries. The company operates via two business segments: Taste & Nutrition and Consumer Foods. Kerry Group offers alternative proteins through its Taste & Nutrition business segment. The company’s alternative proteins are used in the pet food, meat & poultry, seafood, beverages, and bakery industries.
The company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Meticulous Research in its latest publication on Alternative Protein Market has predicted the growth of 13% during the forecast year 2023-2030.
International Flavors & Fragrances, Inc. (IFF)
IFF is engaged in creating, manufacturing, and supplying flavors, fragrances, and cosmetic actives to the food & beverages, personal care, and household products industries. The company operates through four business segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions. It provides alternative proteins through its Health & Biosciences segment. The company’s alternative proteins are used in the pet food, meat products, baby food, beverages, bakery, and dairy industries.
With more than 110 manufacturing facilities, 100 R&D centers, and 33,000 customers worldwide, the company has its geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Tate & Lyle is engaged in providing ingredients and solutions to food & beverages and other industries. The company operates through three segments: Food & beverages Solutions, Sucralose, and Primary Products. The company offers proteins derived from oats, wheat, and corn. The company’s offerings cater to beverages, dairy, bakery & snacks, soups, sauces & dressings, confectionery, personal care, and animal feed industries.
The company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Glanbia is engaged in the research & development, innovation, manufacture, and marketing of nutritional solutions. The company operates through two business segments: Glanbia Nutritionals and Glanbia Performance Nutrition. The Glanbia Nutritionals segment has a portfolio focused on proteins and delivers nutritional and functional ingredient solutions for the food & beverages, infant nutrition, and functional nutrition markets.
With major production facilities in Ireland, the U.S., the U.K., Germany, and China, the company serves customers in more than 130 countries.
Axiom Foods is involved in manufacturing and distributing protein solutions, dairy alternatives, and sugars & syrups. The company provides organic, chemical-free, hexane-free, and allergen-free whole grain brown rice protein and raw pea protein in the protein space. Axiom Foods offers these proteins to the food & beverages and sports nutrition industries. The company also offers alternative protein ingredients through its sister company Growing Naturals LLC (California, U.S.) founded in 2009. The company has its geographic presence throughout North America, Europe, and Asia-Pacific.
BENEO GmbH (a part of Südzucker Ag) (Germany)
BENEO is engaged in developing and producing ingredients for human and animal health. The company also provides high-quality bio-based chemicals. The company’s products are used for various applications, including baby food, bakery, cereals, beverages, confectionery, dairy, meat & vegetables, and soups & sauces. The company offers alternative proteins majorly derived from rice and wheat.
With five production sites located in Belgium, Germany, Italy, and Chile, the company sells its products across North America, Europe, Asia-Pacific, and the Middle East & Africa.
Popular Mention: Now Health Group, Inc. (U.S.), Burcon NutraScience Corporation (Canada), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), CHS Inc. (U.S.), Ÿnsect (SAS) (France), Enterra Feed Corporation (Canada), Protix B.V. (Netherlands), Entomo Farms (Canada), Global Bugs Asia Co., Ltd. (Thailand), Aspire Food Group (U.S.), EnviroFlight, LLC (U.S.), Haocheng Mealworm Inc. (China), JR Unique Foods Ltd. (Thailand), Armstrong Cricket Farm Georgia (U.S.), Rocky Mountain Micro Ranch (U.S.), Cricket Lab Limited (U.K.), DIC Corporation (Japan), Cellena Inc. (U.S.), Taiwan Chlorella Manufacturing Company (Taiwan), Cyanotech Corporation (U.S.), Bluebiotech International GmbH (Germany), Pond Technologies Holdings Inc. (Canada), E.I.D.-Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd. (China), MycoTechnology Inc. (U.S.), Enough. (U.K.), Corbion NV (Netherlands), Sun Chlorella Corporation (Japan), Plantible Foods, Inc. (U.S.), Parabel Nutritional, Inc. (U.S.), Far East Bio-Tec Co., Ltd. (Taiwan), Far East Microalgae Industries, Co. Ltd. (Taiwan), Roquette Klötze Gmbh & Co. Kg (Germany), Yaeyama Shokusan Co., Ltd. (Japan), Unibio Group (Denmark), String Bio (India), Calysta, Inc. (U.S.), Angel Yeast Co., Ltd (China), and Lesaffre (France).
Authoritative Research on the Alternative Protein Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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