Although the alternative protein market is growing rapidly around the world, the
. As of 2024, the global plant-based meat market was valued at about 10 billion U.S. dollars, while meat market revenue amounted to over one trillion U.S. dollars. That year,
were among the leading protein food processors worldwide.
almost 73 billion U.S. dollars in revenue in 2023.
Protein supplements
With the growing trends for protein intake among consumers, protein supplements have become a staple for many Americans. In 2024,
protein supplements sales grew by over nine percent in the United States. That year, whey protein attained the largest
share in the protein supplement market followed by collagen and plant protein. Plant-based or
alternative protein bars were one of the main alternative protein supplements, selling over 250 million U.S. dollars as of December 2023. Sales of whey protein, however, are still growing faster than plant protein supplements. In 2024,
sales of whey protein increased by about 21 percent and plant protein had a slower growth, at only about 12 percent.
Consumer market
Protein is gaining attention more than ever. In 2024,
protein was the most frequently mentioned nutrient that American consumers try to consume with approximately 71 percent of respondents mentioning it. People are
following high protein diets and many define
healthy food as “good source of protein”. Popularity of plant protein is moderately increasing among the U.S. consumers. Approximately 28 percent of respondents mentioned that in 2023, they have
consumed more protein from whole-plant sources than before. That year, younger consumers were more likely than older consumers to state that they
eat meat substitutes regularly. There has been a growing demand for high protein products in general, with more
consumers willing to try plant-based protein products. This gives an opportunity to food companies to extend their product lines in line with these demands.
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