The global Plant Based Protein market size is expected to reach close to USD 22.5 billion by 2029 with an annualized growth rate of 7.2% through the projected period.
The growing use of pea protein in the food industry and the invention of plant-based protein extraction technologies are contributing significantly to the growth of the demand for plant-based proteins.
The study aims to estimate the size of the plant-based protein market and the future growth potential of the plant-based protein market across different segments, such as base material, package shape, antimicrobial agents, technology, the end-user industry and the country.
The base year considered for the study is 2019 and the market size is projected from 2018 to 2028. The main drivers of the plant-based protein market in the coming years include factors such as growing demand in the Asia-Pacific region, growth in the food & beverage and healthcare sectors, and increasing customer awareness of health. The baseline year considered for the study is 2019, while 2020-2028 is the projection period considered for the report.
Evolving consumer tastes have demonstrated a growing market change towards adapting to a more nutritional diet focused on a more sustainable lifestyle and less dependency on animal proteins. A large percentage of the millennial population in Western countries has been noted in terms of their changing food habits as clients move from conventional animal products to organic and plant-based food products as an ideal food choice. The acceptance of plant-based food & beverages among consumers has been higher in recent years due to the wider scope of product availability, increased product growth and innovation in plant-based proteins and a wider range of viable alternatives and substitutes. At the forefront of the plant-based movement is the market for plant-based proteins in the food industry. Changing consumer preferences, driven by knowledge of meat procurement practices, their environmental impact and animal-borne diseases, have contributed to more consumers opting out of meat consumption. The resulting change has led to market demand moving from conventional animal proteins to alternatives centered on plants. The growing vegan pattern has contributed to an increase in the participation of manufacturers in the industry. The isolated segment, by form, is projected to grow at the highest revenue CAGR during the forecast period. Isolates are the most concentrated form of protein products with higher amounts of protein .They are readily digestible and can be incorporated into different items of food. Protein isolates have been grown from a number of legumes such as soy, peas, canola, and other sources such as rice and oats. With the advantage of color, taste and functional properties, it has a high protein content, making it an ideal raw ingredient for applications such as beverages, infant drinks and other types of specialty foods.
Plant Based Protein Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 22.5 billion|
|Growth Rate||CAGR of 7.2 % during 2022-2032|
|Segment Covered||By Product Type, Form, Nature, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||DuPont de Nemours, Inc. (U.S.), Royal Avebe (The Netherlands), Archer Daniels Midland Company (U.S.), Roquette Freres Le Romarin (France), Ingredion Inc. (U.S.), Kerry Group (Ireland), Cargill Incorporated (U.S.), Now Foods (U.S.), AMCO Proteins (U.S.), Crespel & Deiters GmbH & co. kg (Germany), BENEO GmbH (Germany), Axiom Foods Inc. (U.S.), Glico Nutrition Co., Ltd. (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Wilmar International Ltd. (Singapore), Corbion NV (The Netherlands), and CHS Inc. (U.S.).|
Key Segments of the Global Plant Based Protein Market
Source Overview, 2018-2028 (USD Million)
Type Method, 2018-2028 (USD Million)
Application 2018-2028 (USD Million)
- Dairy Alternatives
- Meat Alternatives
- Performance Nutrition
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global plant based protein market
- Archer Daniels Midland Company (ADM) (US)
- Wilmar International (US)
- Cosucra Groupe (Belgium)
- Emsland Group (Germany)
- Cargill (US)
- Ingredion (US)
- DuPont (US)
- Roquette Frères (France)
- PURIS (US)
- Kerry Group (Ireland)
- Burcon NutraScience Corp. (Canada)
- Sotexpro (France).
- Glanbia (Ireland)
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of plant-based market
- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Plant Based Protein Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Plant Based Protein Market. The report will benefit: Every stakeholder involved in the Plant Based Protein Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Plant Based Protein Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Plant Based Protein Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.