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Protein Market Size

The protein market is experiencing significant growth, driven by increasing demand for plant-based alternatives and a shift in consumer preferences towards protein-rich products. The food and beverage sector remains the largest segment, with a notable emphasis on dairy and meat alternatives. The animal feed segment also plays a crucial role, particularly with plant proteins due to their advantageous properties. The personal care and cosmetics segment is witnessing rapid expansion, fueled by the rising interest in natural ingredients. North America leads in market consumption, supported by a strong consumer base and a growing flexitarian population. The Asia-Pacific region follows, driven by a demand for diverse protein sources and cost-effective production. Meanwhile, the Middle East is emerging as the fastest-growing market, reflecting a shift towards health-conscious and sustainable products.

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Market Size of protein Industry

Protein Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 25.49 Billion
svg icon Market Size (2029) USD 32.42 Billion
svg icon Largest Share by End User Food and Beverages
svg icon CAGR (2024 - 2029) 4.93 %
svg icon Largest Share by Region North America
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Protein Market Analysis

The Protein Market size is estimated at 25.49 billion USD in 2024, and is expected to reach 32.42 billion USD by 2029, growing at a CAGR of 4.93% during the forecast period (2024-2029).

25.49 Billion

Market Size in 2024 (USD)

32.42 Billion

Market Size in 2029 (USD)

4.99 %

CAGR (2017-2023)

4.93 %

CAGR (2024-2029)

Largest Market by Source

62.95 %

value share, Plant, 2023

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Globally, animal feed and F&B industry drove plant protein segment. Among all, soy protein remained most favored, owing to its inexpensive cost and excellent quality.

Largest Market by End User

60.60 %

value share, Food and Beverages, 2023

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The higher supply of plant proteins like rice, pea and wheat proteins that has an ability to mimic meat texture together with protein fortification is catering the segment.

Fastest Growing Market by Source

5.48 %

Projected CAGR, Microbial, 2024-2029

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The demand for microbial proteins, mainly algae protein, is noted from the supplements segment. Constant innovation and new entrants are anticipated to drive this segment.

Fastest Growing Market by End User

6.65 %

Projected CAGR, Personal Care and Cosmetics, 2024-2029

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Rise in demand for natural ingredients and protein enriched skin, body and hair care products is driving the segment. Thus the segment is projected to attain fastest growth.

Leading Market Player

7.83 %

market share, Archer Daniels Midland Company, 2021

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Archer Daniels Midland Company's leading position is attributed to its high quality offering in the global market, followed by it being one of the most active market players.

Sustainable alternative protein sources are boosting the market demand with application mostly through food and beverages sector

  • Both in terms of value and volume, food and beverages remained the dominant end-user segment of the market in 2022. The demand was majorly led by dairy and meat alternative applications, with consumers demanding plant-based protein-rich alternatives. In 2022, the meat- and dairy alternatives industries together held a share of 31% by volume. The high preference for plant protein has consumers shifting away from meat, which is a major driving factor for the demand. As of May 2022, about 79 million of the global population was vegan and seeking meat and dairy alternatives with higher protein content.
  • The food and beverage segment was closely followed by the animal feed segment, with many applications of plant protein types. The plant protein type holds a 98% share by volume among all the other proteins used in the segment. It offers numerous advantages over milk substitutes and fish meals, like better protein digestibility, a favorable amino acid profile, and long shelf life. The segment is anticipated to register a CAGR of 4.58% by value during the forecast period.
  • In terms of growth, the personal care and cosmetics segment outpaced other segments and is expected to record a CAGR of 6.49% by value during the forecast period due to increased interest in clean and natural personal care products. Proteins are used in a range of cosmetics products, including emulsions, gels, shampoos, conditioners, and creams. Proteins naturally found in the body, such as collagen, elastin, and keratin, are also gaining popularity considering their higher efficacy in naturally strengthening skin and hair texture. Protein ingredients have proven effects on skin and hair, which is boosting their demand in the personal care and cosmetics segment.
Global Protein Market

With vast population in the region willing to consume plant-based meats, is driving the consumption of protein in the North American region

  • North America remained the largest consumer of protein across the world. The region's protein market is majorly driven by production consolidation, constant product developments, and a high consumer base recorded in the United States. More than 55% of households look for high protein content, and high protein content is a significant factor when purchasing food for their families, giving immense scope for the growth of the market in the region. The growing flexitarian population is also broadening the industry's consumer base. About one-fourth of Americans (23%) consumed plant-based meat, and 37% of consumers who do not consume plant-based meats are interested in trying them. Thus, this offers a vast opportunity for meat alternatives and boosts the protein market. 
  • Asia-Pacific remained the second-largest market in 2022, driven by consumers pushing for diversification of protein sources. This was largely influenced by the changing consumer preferences toward plant-based and had an abundant supply of raw materials required for plant protein production, making it a relatively cost-effective option for both manufacturers and consumers. The Asia-Pacific region is projected to register a value CAGR of 5.42% during the forecast period.
  • The Middle East is projected to be the fastest-growing market, as the demand for natural and sustainable ingredients is rapidly growing due to the rise in health consciousness. Over the forecast period, the region is set to record a CAGR of 5.62% by volume. This is attributed due to shifting consumer preferences toward more health-, immunity-boosting, less processed, and 'free-from' food products. In 2020, approximately 25% of Arab millennials sought convenient and easily accessible food products. 

Protein Industry Segmentation

Animal, Microbial, Plant are covered as segments by Source. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • Both in terms of value and volume, food and beverages remained the dominant end-user segment of the market in 2022. The demand was majorly led by dairy and meat alternative applications, with consumers demanding plant-based protein-rich alternatives. In 2022, the meat- and dairy alternatives industries together held a share of 31% by volume. The high preference for plant protein has consumers shifting away from meat, which is a major driving factor for the demand. As of May 2022, about 79 million of the global population was vegan and seeking meat and dairy alternatives with higher protein content.
  • The food and beverage segment was closely followed by the animal feed segment, with many applications of plant protein types. The plant protein type holds a 98% share by volume among all the other proteins used in the segment. It offers numerous advantages over milk substitutes and fish meals, like better protein digestibility, a favorable amino acid profile, and long shelf life. The segment is anticipated to register a CAGR of 4.58% by value during the forecast period.
  • In terms of growth, the personal care and cosmetics segment outpaced other segments and is expected to record a CAGR of 6.49% by value during the forecast period due to increased interest in clean and natural personal care products. Proteins are used in a range of cosmetics products, including emulsions, gels, shampoos, conditioners, and creams. Proteins naturally found in the body, such as collagen, elastin, and keratin, are also gaining popularity considering their higher efficacy in naturally strengthening skin and hair texture. Protein ingredients have proven effects on skin and hair, which is boosting their demand in the personal care and cosmetics segment.
Source
Animal
By Protein Type
Casein and Caseinates
Collagen
Egg Protein
Gelatin
Insect Protein
Milk Protein
Whey Protein
Other Animal Protein
Microbial
By Protein Type
Algae Protein
Mycoprotein
Plant
By Protein Type
Hemp Protein
Pea Protein
Potato Protein
Rice Protein
Soy Protein
Wheat Protein
Other Plant Protein
End User
Animal Feed
Food and Beverages
By Sub End User
Bakery
Beverages
Breakfast Cereals
Condiments/Sauces
Confectionery
Dairy and Dairy Alternative Products
Meat/Poultry/Seafood and Meat Alternative Products
RTE/RTC Food Products
Snacks
Personal Care and Cosmetics
Supplements
By Sub End User
Baby Food and Infant Formula
Elderly Nutrition and Medical Nutrition
Sport/Performance Nutrition
Region
Africa
By Source
By End User
By Country
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Source
By End User
By Country
Australia
China
India
Indonesia
Japan
Malaysia
New Zealand
South Korea
Thailand
Vietnam
Rest of Asia-Pacific
Europe
By Source
By End User
By Country
Belgium
France
Germany
Italy
Netherlands
Russia
Spain
Turkey
United Kingdom
Rest of Europe
Middle East
By Source
By End User
By Country
Iran
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Source
By End User
By Country
Canada
Mexico
United States
Rest of North America
South America
By Source
By End User
By Country
Argentina
Brazil
Rest of South America
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Protein Market Size Summary

The protein market is experiencing significant growth, driven by increasing consumer demand for protein-rich foods and beverages, particularly in the dairy and meat alternative sectors. The shift towards plant-based proteins is a major trend, with consumers increasingly seeking alternatives that offer better digestibility and a favorable amino acid profile. This trend is supported by a growing vegan population and a rising interest in health-conscious diets. The animal feed segment also plays a crucial role, with plant proteins being favored for their numerous advantages over traditional animal-based proteins. Additionally, the personal care and cosmetics industry is witnessing a surge in the use of protein ingredients, such as collagen and keratin, due to their efficacy in enhancing skin and hair health. This segment is expected to grow at a robust pace, reflecting the broader consumer shift towards clean and natural products.

Regionally, North America leads the protein market, bolstered by a strong consumer base and ongoing product innovations. The United States, in particular, shows a high demand for high-protein foods, driven by a growing flexitarian population. The Asia-Pacific region follows, with a focus on diversifying protein sources and leveraging cost-effective plant protein production. The Middle East is emerging as the fastest-growing market, fueled by increasing health consciousness and demand for natural ingredients. Globally, the market is characterized by a fragmented landscape with key players like Archer Daniels Midland Company and Fonterra Co-operative Group Limited leading the charge. The market's expansion is further supported by advancements in protein production technologies and the introduction of new high-protein products, catering to the evolving consumer preferences across various regions.

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Protein Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Source

      1. 1.1.1 Animal

        1. 1.1.1.1 By Protein Type

          1. 1.1.1.1.1 Casein and Caseinates

          2. 1.1.1.1.2 Collagen

          3. 1.1.1.1.3 Egg Protein

          4. 1.1.1.1.4 Gelatin

          5. 1.1.1.1.5 Insect Protein

          6. 1.1.1.1.6 Milk Protein

          7. 1.1.1.1.7 Whey Protein

          8. 1.1.1.1.8 Other Animal Protein

      2. 1.1.2 Microbial

        1. 1.1.2.1 By Protein Type

          1. 1.1.2.1.1 Algae Protein

          2. 1.1.2.1.2 Mycoprotein

      3. 1.1.3 Plant

        1. 1.1.3.1 By Protein Type

          1. 1.1.3.1.1 Hemp Protein

          2. 1.1.3.1.2 Pea Protein

          3. 1.1.3.1.3 Potato Protein

          4. 1.1.3.1.4 Rice Protein

          5. 1.1.3.1.5 Soy Protein

          6. 1.1.3.1.6 Wheat Protein

          7. 1.1.3.1.7 Other Plant Protein

    2. 1.2 End User

      1. 1.2.1 Animal Feed

      2. 1.2.2 Food and Beverages

        1. 1.2.2.1 By Sub End User

          1. 1.2.2.1.1 Bakery

          2. 1.2.2.1.2 Beverages

          3. 1.2.2.1.3 Breakfast Cereals

          4. 1.2.2.1.4 Condiments/Sauces

          5. 1.2.2.1.5 Confectionery

          6. 1.2.2.1.6 Dairy and Dairy Alternative Products

          7. 1.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products

          8. 1.2.2.1.8 RTE/RTC Food Products

          9. 1.2.2.1.9 Snacks

      3. 1.2.3 Personal Care and Cosmetics

      4. 1.2.4 Supplements

        1. 1.2.4.1 By Sub End User

          1. 1.2.4.1.1 Baby Food and Infant Formula

          2. 1.2.4.1.2 Elderly Nutrition and Medical Nutrition

          3. 1.2.4.1.3 Sport/Performance Nutrition

    3. 1.3 Region

      1. 1.3.1 Africa

        1. 1.3.1.1 By Source

        2. 1.3.1.2 By End User

        3. 1.3.1.3 By Country

          1. 1.3.1.3.1 Nigeria

          2. 1.3.1.3.2 South Africa

          3. 1.3.1.3.3 Rest of Africa

      2. 1.3.2 Asia-Pacific

        1. 1.3.2.1 By Source

        2. 1.3.2.2 By End User

        3. 1.3.2.3 By Country

          1. 1.3.2.3.1 Australia

          2. 1.3.2.3.2 China

          3. 1.3.2.3.3 India

          4. 1.3.2.3.4 Indonesia

          5. 1.3.2.3.5 Japan

          6. 1.3.2.3.6 Malaysia

          7. 1.3.2.3.7 New Zealand

          8. 1.3.2.3.8 South Korea

          9. 1.3.2.3.9 Thailand

          10. 1.3.2.3.10 Vietnam

          11. 1.3.2.3.11 Rest of Asia-Pacific

      3. 1.3.3 Europe

        1. 1.3.3.1 By Source

        2. 1.3.3.2 By End User

        3. 1.3.3.3 By Country

          1. 1.3.3.3.1 Belgium

          2. 1.3.3.3.2 France

          3. 1.3.3.3.3 Germany

          4. 1.3.3.3.4 Italy

          5. 1.3.3.3.5 Netherlands

          6. 1.3.3.3.6 Russia

          7. 1.3.3.3.7 Spain

          8. 1.3.3.3.8 Turkey

          9. 1.3.3.3.9 United Kingdom

          10. 1.3.3.3.10 Rest of Europe

      4. 1.3.4 Middle East

        1. 1.3.4.1 By Source

        2. 1.3.4.2 By End User

        3. 1.3.4.3 By Country

          1. 1.3.4.3.1 Iran

          2. 1.3.4.3.2 Saudi Arabia

          3. 1.3.4.3.3 United Arab Emirates

          4. 1.3.4.3.4 Rest of Middle East

      5. 1.3.5 North America

        1. 1.3.5.1 By Source

        2. 1.3.5.2 By End User

        3. 1.3.5.3 By Country

          1. 1.3.5.3.1 Canada

          2. 1.3.5.3.2 Mexico

          3. 1.3.5.3.3 United States

          4. 1.3.5.3.4 Rest of North America

      6. 1.3.6 South America

        1. 1.3.6.1 By Source

        2. 1.3.6.2 By End User

        3. 1.3.6.3 By Country

          1. 1.3.6.3.1 Argentina

          2. 1.3.6.3.2 Brazil

          3. 1.3.6.3.3 Rest of South America

Protein Market Size FAQs

The Global Protein Market size is expected to reach USD 25.49 billion in 2024 and grow at a CAGR of 4.93% to reach USD 32.42 billion by 2029.

In 2024, the Global Protein Market size is expected to reach USD 25.49 billion.

Protein Market Report Snapshots

Protein Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029