According to Future Market Insights, the global plant-based protein market grew 6.7% year on year (YOY) in 2021 to total sales of USD 11.3 billion, and is expected to surpass USD 22.5 billion in 2032 at a CAGR of 7.2%. Rising global demand for plant protein due to changing consumer preferences is a major driver driving the growth of the plant-based protein market.
The Plant-Based Protein market is witnessing remarkable growth as consumers increasingly opt for sustainable and plant-derived protein sources. With a rising awareness of health benefits and environmental considerations, plant-based proteins, such as soy, pea, and wheat, are gaining popularity in various food and beverage applications, driving the market’s expansion.
Increasing productivity in the food and beverage sector will provide an array of opportunities to the plant-based protein market. Based on product type, the global plant-based protein market is segmented into soy, wheat, pea, potato, rice, canola, corn, and others, among them the soy protein segment is estimated to represent the largest share in the global plant-based protein market.
According to the report, the increasing incidence of health issues such as diabetes, blood pressure, and obesity is encouraging consumers to opt for a healthy lifestyle. Therefore, they are more demand for dietary supplements and functional foods that contain plant-based proteins.
Take a Step Towards Knowledge! Download Our Report Sample Now and Deepen Your Understanding.@
https://www.futuremarketinsights.com/reports/sample/rep-gb-11442
Demand for Preventative Healthcare, Especially Due to the Recent Outbreak of Deadly Viruses to boost growth
The majority of the population is health conscious and aware of the benefits of preventive healthcare. Various magazines and online forums such as Livestrong.com, bodybuilding.com, Men’s Health magazine, and Shape magazine, offer diet and lifestyle information and provide regular updates in this regard. Similarly, manufacturers of natural ingredient-based protein are promoting various products using various channels such as online portals, magazines, and marketing campaigns to improve demand for plant-protein-enriched products.
These strategies of players primarily focus on new product development and enhanced safety, effectiveness and primarily health benefits such as the ability to lower cholesterol, lower body weight, and lower blood pressure levels. This is expected to aid in market growth in the region.
Also consumers have become increasingly conscious about the food they eat. Rumors linking coronavirus with consumption of meat and meat protein are likely to influence their perception regarding food they eat. As a result of this, the demand for plant-based protein is likely to surge in the coming years.
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.
These market players have a strong networked and secure clientele with main focus on increasing its product offering and portfolio with complete solutions to its customers including production, formulation of blend, packaging and transportation as well.
In addition to this, market players are more into mergers and acquisition to improve their product offering. Companies intend to expand their regional footprint through strategic collaborations.
- In February 2017, Glambia Plc acquired two companies — Body & Fit and Grass Advantage LLC protein ingredient manufacturers in the U.S. and Netherlands respectively. Both the company have a strong tactical fit with Glanbia’s Performance Nutrition (GPN) division and will prolong its reach to wider channels and new consumers.
- In August 2017, Archer Daniels Midland Company expanded its line of plant-based functional extracts by including an antioxidant blend, green tea, and acerola for application in a wide variety of food, drinks, and supplement applications
- In March 2017, Cargill started production of pea protein ingredients through partnership with World Food Processing, which is a multi-generation, family-owned business based in Oskaloosa, U.S., that has developed non-bioengineered/non-GMO pea seed varieties to minimize off-flavors
Request for Report Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-11442
PLANT-BASED PROTEIN MARKET SEGMENTATION
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
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Ask Our Analyst More about Report @ https://www.futuremarketinsights.com/ask-question/rep-gb-11442
Frequently Asked Questions
- How much is the plant-based protein market currently worth?
- At what CAGR is the market expected to grow?
- How was the performance in the last five years?
- What are the key trends boosting Plant-based protein sales?
- How are market players reacting to the new developments in the market?
- Which is the largest segment by type?
- Which are the major countries driving demand for plant-based protein?
- Who are the major players in the Plant-based Protein Market?
- At what level does the report reflect pricing analysis?
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Other Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs