MARKET REPORT 80 FEED & ADDITIVE MAGAZINE December 2023 interest as a sub-segment of the alternative proteins market. This group is expected to see a significant increase in demand, especially for algal proteins. Cell-based proteins, referred to as cell-based proteins, cell-based meat or cultured meat, which are obtained by reproducing animal cells in a laboratory environment, are also considered among the new alternative proteins. However, these are largely developed for direct human nutrition. Another alternative use for these products is pet food. In this very new field, production costs are still very high and there is a need to reduce production costs through industrialised production. MARKET SIZE AND GROWTH EXPECTATIONS There are different estimates about the size and growth expectations of the global alternative protein market. Here we will try to make an estimate based on the reports of 5 research companies updated in 2023. The first of these reports belongs to Research Nester. According to the company's report, the global alternative proteins market, which was USD 15 billion in 2022, will grow at a CAGR of 11% during the forecast period 2023-2035 and will reach a size of USD 40 billion by the end of 2035. Based on the data in another report prepared by Meticulous Market Research, the size of the market in 2022 is USD 15.3 billion. According to the report, the alternative proteins market, which will grow at a CAGR of 13% during the forecast period 2023-2030, will reach a size of USD 40.7 billion by 2030. InsightAce Analytic also points to a similar market size in its report. According to the company's report, the global alternative proteins market size, which was around USD 15 billion in 2022, will reach USD 38 billion by 2031, at a CAGR of 11.06%. Another report containing data close to the forecasts of all three companies belongs to Maximize Market Research. According to the company's report, the global alternative protein market, which was USD 16.8 million in 2022, will reach USD 32.5 billion between 2023 and 2029, at a CAGR of 9.84%. The highest estimate of the market size and growth potential is included in DataM Intelligence's report. According to the report, the global alternative proteins market was valued at USD 25.7 billion in 2022 and will reach USD 81.9 billion by 2030, exhibiting a CAGR of 15.6% during the forecast period 2023-2030. Based on the averages of the data in these five reports, it is possible to say that the global alternative proteins market size was around USD 17.6 billion in 2022, will grow at an average CAGR of 12% in the coming period and the average market size will reach USD 55 billion in 2032. FACTORS SUPPORTING THE GROWTH OF THE MARKET The market for alternative proteins that directly target human nutrition is shaped by consumer preferences. According to Research Nester's report, as of September 2021, there are approximately 79 million people worldwide who have adopted veganism, accounting for approximately 1 per cent of the total world population. The growing trend of consum-
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