The global plant-based protein market size to reach USD 18.7 billion in 2029, recording a CAGR of 7.5% during the forecast period.
Plant-based Protein Market Overview
Growing need for a protein-rich diet, growing health and wellness trends, increasing consumer focus on meat substitutes, growing demand from the F&B business, and innovation in ingredient technologies: microencapsulation are some of the primary reasons driving the growth of this market.
Furthermore, rising veganism, expanding economies such as Southeast Asia, Latin America, the Middle East, and Africa, and rising sensitivity to animal proteins all present major growth prospects for plant-based protein producers. However, the market’s expansion is hampered by a strong preference for animal-based proteins and fluctuating raw material prices. Increased soy-free and gluten-free trends, on the other hand, offer a significant threat to worldwide plant-based protein makers.
To address rising consumer demand for soy protein isolates, ADM increased the production capacity of its CLARISOY soy protein isolate line of products.
Cargill entered into an agreement with pea protein producer, PURIS (US), for the supply of peas for Cargill’s line of organic, non-GMO pea protein products.
To calculate the market size, the report considers the revenue generated from the sales of Plant-based Protein market manufacturers. The revenue created from the sales of the Plant-based Protein Market has been calculated through primary and secondary research.
The market size assessment also considered leading player’s revenues as part of triangulation the key players considered are DSM (Netherlands), ADM (US), DuPont (US), Kerry Group (Ireland), Cargill (US), Glanbia (Ireland), Wilmar International (Singapore), Emsland Group (Germany), Puris (US), Cosucra Group (Belgium), Batory Foods (US), Roquette Freres (France), Ingredion (US), and Others.
The Plant-based Protein Market has been segmented as below:
Plant-Based Protein Market by Type, 2019-2028, (In USD Billion)
Plant-Based Protein Market by Source, 2019-2028, (In USD Billion)
Plant-Based Protein Market by Form, 2019-2028, (In USD Billion)
Plant-Based Protein Market by Application, 2019-2028, (In USD Billion)
Meat, Poultry, And Seafood
Dairy & Dairy Alternatives
Cereals & Snacks
Plant-based Protein Market: Regional Analysis
Geographically, this report is segmented into several key Countries, with market size, growth rate, import and export of Plant-based Protein market in these countries, which covers North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global Plant-based Protein Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.