The plant-based protein market size is expected to reach US$ 18,191 Mn by the end of 2030. According to a study by Future Market Insights (FMI), titled “Plant-Based Protein Market. Global Industry Analysis 2015-2019 and Opportunity Assessment 2020 – 2030,” the market is expected to expand at a CAGR of 6.0% over the forecast period (2015–2030). According to the report, increasing incidence of health issues such as diabetes, blood pressure, and obesity is encouraging consumers to opt for healthy lifestyle. Therefore, they are more demand for dietary supplements and functional foods that contain plant-based proteins.
“Plant-based protein contains a number of health benefits. For instance; soy protein contains lower amounts of saturated fat and cholesterol than meat products. Soy protein is actually a “complete protein,” since it provides amino acids essential to human nutrition, helps to reduce LDL cholesterol and promotes a healthy heart health. Therefore, the demand for plant-based protein is likely to rise considerable compared to animal based protein” as per a lead FMI analyst.
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KEY RESEARCH FINDINGS
- Increasing productivity of food and beverage sector will provide an array of opportunities to the plant-based protein market
- Based on product type, soy protein segment is estimated to represent the largest share in the global plant-based protein market
- On the basis of application, convenience food segment is expected to witness the fastest growth during the forecast period
- The plant-based protein market in East Asia, especially in China, South Korea and Japan, is expected to witness a high growth during the forecast period
- Consumers in Europe prefer high protein diet in comparison to other regions. A consumer’s regular diet in this region comprises more than the recommended amount of protein prescribed for maintaining ideal health. This has led to increasing demand for plant-based proteins and protein rich products
Rapidly Evolving Lifestyle and Diet Choices will Enable Growth
Rapidly evolving lifestyles and growing demand for convenience food items are likely to boost the growth rate of the plant-based protein market. In addition, consumer preference for natural and organic products is rising, which is expected to fuel demand in the market in the coming years. As a result of this, consumption in both developing and developed countries is expected to rise. Trend of consuming natural energy foods is expected to continue steadily, as preference for healthier and premium alternatives such as seeded bread, breakfast cereals, smoothies, bakery and other products with natural ingredients is rising.
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It includes in-depth insights into the plant-based protein market. Some of these are:
- The global plant-based protein market is anticipated to expand at a CAGR 6.0% to account for US$ 18,191 Mn by 2030 end as per the likely scenario.
- Consumer spending on the healthy lifestyle considered in North America in different zones may vary with the course of time, thus the North America plant-based protein market might show a traditional scenario by expanding at a CAGR of 4.2% to account for US$ 3,926 Mn by 2020 end.
- Demand for organic plant-based protein is rising among the consumers in around the world wide. Organic plant-based protein is stated as healthier multi-beneficial ingredient over to conventional plant-based protein. Hence, organic plant based protein shows high growth rate compare to conventional plant-based protein.
- The plant-based protein has become a recognized replacement for multiple proteins used in dietary supplements such as whey protein, meat proteins, egg protein, and others. This is due to increasing vegan trend, etc. hence it reflect the high market growth rate of plant-based protein over the coming years.
- Among products available in the market, the protein flour segment is likely to remain dominant through the course of the forecast period.
Who is winning?
Some of the major players in the plant-based protein that are covered in this report are Glanbia Plc, Archer-Daniels Midland Co., Roquette Freres, Cargill Incorporation, Burcon Nutrascience Corporat, E.I. du Pont de Nemours & Co, Cosucra Groupe Warcoing, Ingredion Inc, and CHS Inc, AGT Food & Ingredients, Inc.
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PLANT-BASED PROTEIN MARKET TAXONOMY
The global Plant-based protein Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type
- Soy Protein
- Wheat Protein
- Pea Protein
- Others
Form
- Isolates
- Concentrates
- Hydrolysates
Nature
- Organic
- Conventional
Application
- Nutritional Products
- Sports Nutrition
- Medical Nutrition
- Infant Nutrition
- Bakery
- Snacks & Cereals
- Dairy
- Confectionary and Dessert
- Convenience Food
- Beverages
- Animal Feed
- Others