ALTERNATIVE PROTEIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Takeaways from Analyst

Increasing meat consumption puts significant strain on agricultural land, water resources, and contributes to carbon emissions. Plant-based and cultured meats offer an eco-friendly alternative to address these challenges. Millennials and Generation Z are increasingly adopting vegan and flexitarian diets, creating strong momentum for alternative protein categories.

North America currently dominates the market and is expected to remain dominant over the next five years. Countries like U.S. and Canada have huge populations which are adopting Western diets rapidly. However, awareness regarding health and climate change impacts of livestock industry drives interest in alternative proteins in these developing nations.

Europe is early adaptor of plant-based meat while cultured meat can take more time for widescale consumer acceptance in these regions. Meat analogs closely resembling texture and taste of animal meat have enhanced growth opportunities. Private label offerings can make these products affordable for the mass market.