The key factors driving Alternative Protein Market’s growth are increasing venture investments in alternative protein companies, innovations in food technology, the high nutritional value of edible insects, and the environmental sustainability benefits of alternative proteins.
In addition, the rising research and development of new products and increasing inclination towards veganism provide significant opportunities for the players operating in the alternative proteins market. The Alternative Protein Market is expected to grow at a CAGR of 12.4% from 2022–2029 to reach $36.61 billion by 2029 from an estimated $15.75 billion in 2022.
Here are the top 10 companies operating in Alternative Protein Market :
Archer Daniels Midland Company
Archer Daniels Midland Company (ADM) is involved in procuring, transporting, storing, processing, and merchandising agricultural commodities, products, and ingredients. The company operates through three business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The company provides alternative protein ingredients through the Nutrition segment.
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, and dairy.
With around 450 crop procurement locations, 271 ingredient manufacturing facilities, and 44 innovation centers, the company serves customers in more than 200 countries worldwide.
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
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
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.
With its subsidiaries and a strong distribution network in 63 countries, the company has its geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Kerry Group
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.
With 130 manufacturing locations in 28 countries, the company sells its products in more than 160 countries.
Meticulous Research in its latest publication on global Alternative Protein Market has predicted the growth of 12.4% during the forecast year 2022–2029
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.
Axiom Foods Inc.
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.). The company has its geographic presence throughout North America, Europe, and Asia-Pacific.
Glanbia Plc
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.
Tate & Lyle Plc
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.
With its subsidiaries and a strong distribution network in more than 140 countries, the company has its geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Protix B.V.
Protix is engaged in manufacturing and supplying insect ingredients for animal feed and human consumption. The company also converts organic residual streams through various insect species, such as black soldier fly, cricket, mealworm, and locust, to form protein meal, insect fats, and healthy foods. In addition, the company has a broad range of ingredients derived from black soldier flies.
With more than 15 partners, the company has its presence across Europe, North America, and Asia-Pacific.
Popular Mentions: Now Foods (U.S.), Burcon NutraScience Corporation (Canada), Beneo GmbH (A Part of Südzucker AG) (Germany), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), CHS Inc. (U.S.), Ÿnsect (SAS) (France), Enterra Feed Corporation (Canada), 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 (2021-2028)
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