• Global Alternative Proteins to Reach US$4.8 Bn by 2027, China & Mycoprotein as Key Drivers

    Alternative proteins are projected to reach a revised size of US$4.8 billion by 2027, growing at a CAGR of 8% over the analysis period 2020-2027 according to a recent report, including the Plant Protein segment which is forecast to grow at a 9.2% CAGR to reach US$1.7 Billion by 2027.

    China to Grow at a 9.5% CAGR

    The Protein Alternatives market in the US was estimated at US$1.1 billion last year, currently accounting for a 40.46% share in the global market. China, the world second-largest economy, is forecast to reach an estimated market size of US$351.4 million in the year 2027 trailing a CAGR of 9.5% through 2027.

    Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.4% respectively over the 2020-2027 period.

    Hero Protein
    Image courtesy of Hero Protein

    Within Europe, Germany is forecast to grow at approximately 7.3% CAGR while the rest of the European market (as defined in the study) will reach US$351.4 million by the year 2027.

    Mycoprotein to reach a 21.8% share 

    In the global Mycoprotein segment, USA, Canada, Japan, China and Europe will drive the 6.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$510.5 Million in the year 2020 will reach a projected size of US$787.1 million by the close of the analysis period.

    China will remain among the fastest-growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$336.1 Million by the year 2027.

    Key players

    • Agriprotein Holdings Ltd
    • Aspire Food Group
    • Avebe
    • Cargill Incorporated
    • Corbion NV
    • DuPont de Nemours Inc
    • Enterra Feed Corporation
    • EntofoodSdn Bhd
    • Proti-Farm Holding NV
    • Glanbia PLC
    • Ingredion Incorporated
    • Kerry Group plc
    • Koninklijke DSM N.V
    • MGP Ingredients Inc
    • MycoTechnology Inc
    • Roquette Frères
    • Sonic Biochem Extractions Ltd
    • The Archer Daniels Midland Company
    • Tianjin Norland Biotech Co., Ltd
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