As part of the PROMISEANG project, which aims to advance sustainable protein production through microbial fermentation of non-conventional marine sources, the Knowledge Organization Group (OE7) from Universidade de Vigo has conducted an in-depth market study on alternative proteins. This research is a crucial milestone in understanding the sector’s current landscape, key players, challenges, and future opportunities. An overview of the findings and their implications for the project and the industries involved is presented in this article.
Objective of the market study
The alternative protein market is experiencing significant growth due to increasing consumer demand for sustainable, ethical, and health-conscious food choices. This study examines the factors driving market expansion, the segmentation of alternative protein sources, and the regulatory and economic challenges that influence its development. By identifying trends and investment areas, the study provides valuable insights to support PROMISEANG’s mission of developing next-generation protein solutions.
The objective of this market study is to assess the potentialities and limitations of new alternative proteins across the food, feed, biomedical, pharmaceutical, and cosmetic markets. This includes analysing consumption trends, evaluating current market conditions, and identifying and assessing products and competitors.
The study serves as an exploitable result by providing know-how on alternative protein markets and their future applications in food, feed, and non-food sectors and industries.
Key insights from the study
- Market growth & consumer trends: The global alternative protein market was valued at $15-20 billion in 2024 and is expected to reach over $40 billion by 2035. This growth is driven by sustainability concerns, evolving dietary preferences, and regulatory support.
- Market challenges: High production costs, regulatory hurdles, and cultural resistance pose challenges to widespread adoption. Ensuring cost reduction and scalability will be critical.
- Segment breakdown: The market is segmented into plant-based, insect-based, microbial, and cell-based proteins. While plant-based proteins currently dominate, microbial fermentation is emerging as a key innovation area.
- Regulatory landscape: The European Food Safety Authority (EFSA) plays a significant role in approving novel protein sources. Compared to the U.S. FDA’s flexible approach, EU regulations present a more complex approval process, impacting market entry.
- Investment & future opportunities: Venture capital investment focuses on precision fermentation and biomass-based proteins. Collaboration with food manufacturers and sustainable farming initiatives is expected to accelerate industry growth.
Conclusion
The alternative protein market presents exciting opportunities for sustainable food production, and PROMISEANG is well-positioned to contribute to this transformation. By leveraging microbial fermentation of marine resources, the project aligns with market trends and sustainability goals, offering innovative solutions to meet the growing demand for alternative proteins.