When talking about market trends, the alt-protein sector stood at a value of approximately $16.5 billion in 2024, report Lori Kale and Yuga Raut, Associate Consultants at ChemBizR.
Moreover, it is expected to grow at a CAGR of 9.4% from 2025 to 2027. In 2023, global investments in alternative protein reached $1.67 billion, out of which the US alone raised $555 million.1
In the league of the most popular alternative proteins, soy is the first choice, followed by pea. However, soy entails some health concerns, which has affected its demand.
The major hurdle is its phytoestrogen content, which leads to potential hormonal imbalances — especially in individuals who are sensitive to oestrogen or have hormone-related conditions.
The US is the leading nation in the alternative protein industry, with more than 380 companies in the sector. Interestingly, India has more than 200 startups and well-established companies, such as Nestlé and Hershey’s, that are involved in the alternative protein industry.
Meanwhile, in the EU, countries such as Denmark and Germany have also made significant investments in the alt protein sector.