Asia Pacific Alternative Protein Market Size & Outlook
The alternative protein market in Asia Pacific is expected to reach a projected revenue of US$ 6,010.1 million by 2030. A compound annual growth rate of 9.2% is expected of Asia Pacific alternative protein market from 2024 to 2030.
Revenue, 2023 (US$M)
$3,248.8
Forecast, 2030 (US$M)
$6,010.1
CAGR, 2024 - 2030
9.2%
Report Coverage
Asia Pacific
Related Markets
Asia Pacific alternative protein market highlights
- The Asia Pacific alternative protein market generated a revenue of USD 3,248.8 million in 2023.
- The market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, plant protein was the largest revenue generating product type in 2023.
- Insect Protein is the most lucrative product type segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 3,248.8 million |
| Market revenue in 2030 | USD 6,010.1 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Plant protein |
| Fastest growing segment | Insect Protein |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Plant Protein, Microbe based Protein, Insect Protein |
| Key market players worldwide | ADM, Cargill, Lightlife Foods, Impossible Foods, International Flavors & Fragrances Inc, Ingredion Inc, Kerry Group PLC Class A, Glanbia PLC, Bunge Global SA, Axiom Foods, Tate & Lyle PLC, SunOpta Inc, AGT Food and Ingredients, Emsland Group |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 21.3% of the global alternative protein market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,010.1 million by 2030.
Plant protein was the largest segment with a revenue share of 89.23% in 2023. Horizon Databook has segmented the Asia Pacific alternative protein market based on plant protein, microbe based protein, insect protein covering the revenue growth of each sub-segment from 2018 to 2030.
There is growing awareness among consumers regarding the environmental impact of their food choices as climate change continues to pose severe threats to ecosystems and human livelihoods. Traditional animal agriculture for protein is known to contribute substantially to greenhouse gas emissions, deforestation, and water scarcity.
In contrast, alternative proteins generally have a lower ecological footprint, making them more appealing to environmentally conscious consumers.
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Alternative Protein Market Scope
Alternative protein market segmentation & scope
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Alternative Protein Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Lightlife Foods | View profile | 101-250 | Turners Falls, Massachusetts, United States, North America | http://lightlife.com/ |
| Emsland Group | View profile | 1001-5000 | Emlichheim, Niedersachsen, Germany, Europe | https://emsland-group.de |
| Axiom Foods | View profile | 11-50 | Los Angeles, California, United States, North America | http://axiomfoods.com/ |
| AGT Food and Ingredients | View profile | 1001-5000 | Regina, Saskatchewan, Canada, North America | http://www.agtfoods.com/ |
| Impossible Foods | View profile | 501-1000 | Redwood City, California, United States, North America | http://impossiblefoods.com |
| ADM | View profile | - | Chicago, Illinois, United States, North America | https://www.adm.com |
| Bunge Global SA | View profile | 23000 | 1391 Timberlake Manor Parkway, Chesterfield, MO, United States, 63017 | https://www.bunge.com |
| Cargill | View profile | 10001+ | Minneapolis, Minnesota, United States, North America | http://www.cargill.com |
| Ingredion Inc | View profile | 11600 | 5 Westbrook Corporate Center, Westchester, IL, United States, 60154 | https://www.ingredion.com |
| International Flavors & Fragrances Inc | View profile | 21500 | 521 West 57th Street, New York, NY, United States, 10019-2960 | https://www.iff.com |
| Tate & Lyle PLC | View profile | 4591 | 5 Marble Arch, London, United Kingdom, W1H 7EJ | https://www.tateandlyle.com |
| Kerry Group PLC Class A | View profile | 21000 | Prince's Street, Tralee, Kerry, Ireland, V92 EH11 | https://www.kerry.com |
| Glanbia PLC | View profile | 5534 | Ring Road, Glanbia House, Kilkenny, Ireland, R95 E866 | https://www.glanbia.com |
| SunOpta Inc | View profile | 1174 | 7078 Shady Oak Road, Eden Prairie, MN, United States, 55344 | https://www.sunopta.com |
Asia Pacific alternative protein market size, by country, 2018-2030 (US$M)
Asia Pacific Alternative Protein Market Outlook Share, 2023 & 2030 (US$M)
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