To know the impact of COVID-19 On Plant-Based Protein market 2020 By Source (Soy , Wheat, Pea, Others), By Type (Isolates, Concentrates, Protein flour), By Application (Protein beverages, Dairy alternatives, Meat alternatives, Protein bars, Nutrition supplements, Processed meat, poultry, and seafood, Bakery products, Convenience food, Sports nutrition) Forecast to 2025 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Plant-Based Protein market is valued at USD 16.45 Billion in 2018 and expected to reach USD 40.53 Billion by 2025 with the CAGR of 13.75% over the forecast period.
Increasing consumers’ preference for the adoption of a vegan diet is the key factor expected to drive the growth of Global Plant-Based Protein Market.
Plant based protein is a food source of protein which is derived from plants such as soy, wheat, nuts, pea, lentil, peanuts, seeds, tofu, potato, rice and others. Plant based protein is highly nutritive contains fibre, vitamin and minerals. Soybean and soy products such as tofu are the most important source of plant protein which is rich in vitamin C, fibre, calcium, iron and folate. It is made up of all essential 9 amino acid. Green pea is a good source of fiber, vitamin A, iron, vitamin C and mineral. Benefits of green pea it control blood sugar. Benefits of plant protein are it helps to maintain a healthy weight or also reduce weight. Plant protein are lower in calorie, it helps in reduce blood pressure, cholesterol, and risk factor of cardiovascular diseases.
Plant based protein market is segmented into type, application, region and country. On the basis of type, plant based protein is segmented into wheat protein, soy protein, pea protein, potato protein, rice protein and others. On the basis of application, plant based protein is segmented into food and beverage, dietary supplements, animal feed, pharmaceuticals and others.
Scope of Global Plant-Based Protein Market Report–
Plant based protein is simply a meaningful food source of protein which is from plants. In addition to provide the building blocks for healthy muscles and tissues, it may also be beneficial for weight loss. It tends to be lower in calories and fat than animal proteins but higher in fiber and essential nutrients. Plant-based foods can be exceptional unique sources of protein and alternative nutrients, usually with fewer calories than animal products. A plant-based protein diet is containing mostly or entirely of foods derived from plants, as well as vegetables, grains, nuts, seeds, legumes and fruits, and with few or no animal products. The Plant-Based Protein category has been gaining heavy traction across numerous opportunities and is also the main subject of countless clinical studies that link the benefits over the standard whey protein.
Different kinds of retail chains comprising pharmacies, mass merchandisers, and grocery retail outlets have been aiming on increasing popularity of sports nutrition amongst users, thereby powering the market. Proteins are fundamental nutrients needed by the human body and are created from amino acids. These proteins, when attained from plant-based foods such as wheat, soy, and others, are dubbed as plant proteins. Various plants offer high level of proteins, such as lentils, tofu, peanuts, chickpeas, spirulina, almonds, chia seed, and quinoa. Since plant-based proteins have a less calorie count, they can be restored for weight loss with animal-based protein.
Global plant-based protein market report is segmented on the basis of source, type, application and regional & country level. Based upon source, plant-based protein market is classified soy, wheat, pea and others (quinoa, oats, beans, nuts, and seeds). Based upon type, plant-based protein market is classified as isolates, concentrates and protein flour. Based upon application, the market is classified into protein beverages, dairy alternatives, meat alternatives, protein bars, nutrition supplements, processed meat, poultry, and seafood, bakery products, convenience food and sports nutrition.
The regions covered in this Global Plant-Based Protein market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Plant-Based Protein is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Plant-Based Protein Market Report–
Global Plant-Based Protein market Report covers prominent players are like Cargill, Archer Daniels Midland Company, DowDuPont, Glanbia Plc., Kerry Group, Tate & Lyle PLC, Ingredion Incorporated, Burcon NutraScience Corporation, Royal DSM N.V., Sotexpro S.A., Axiom Foods, and The Scoular Company and others.
Increasing Consumers’ Preference for the Adoption of a Vegan Diet is One of the Major Factors Expected to Drive the Growth of Plant-Based Protein Market
Increasing consumers’ preference for the adoption of a vegan diet is one of the major factors expected to drive the growth of plant-based protein market. According to National Center for Biotechnology Information, Current protein demand for the 7.3 billion inhabitants of the world is approximately 202 million tones globally. However, even accepting a 2.3 billion growth in population, vastly different results in terms of demand for protein result depending on assumptions made about average consumption for the future. The number of consumers following a vegan diet has particularly increased in many industrialized countries and it is likely that their influence on the food sector will continue to grow. The number of U.S. consumers identifying as vegan grew from 1% to 6% between 2014 and 2017, a 600% increase, according to Global Data. However, significant preference to animal based protein and inconsistent raw material prices may hamper the growth of plant-based protein market. In spite of that, new emerging sources of protein such as aquatic plants, increasing inclination towards vegan diet and advancements in ingredient technologies such as microencapsulation can provide various opportunities for the further growth of the plant-based protein market.
Rising Concerns Related To Lactose Intolerance And Glutamic Disorders Amongst The Millennials To Power The Growth In The Market
Increasing significance of a vegan diet due to the jeopardy of type 2 diabetes and cardiovascular diseases related to the usage of meat products is predicted to have a solid positive effect on the development of plant based protein market size. The global market is predicted to clock substantial development over the coming years due to increasing population of flexitarians in Canada and the US, owing to widespread campaigns for marketing vegan diet through media platforms.
Moreover, rising concerns related to lactose intolerance and glutamic disorders amongst the millennials in developed nations comprising the US and Germany are expected to power the use of pea as well as soy protein supplements. A number of players are comprised in selling their goods via different distribution channels comprising e-commerce portals, direct selling contracts, and supermarkets. These goods are available in various forms such as liquids, powder, capsules, and Ready-to-Drink (RTD).
Since the last few decades, different kinds of retail chains comprising pharmacies, mass merchandisers, and grocery retail outlets have been aiming on increasing popularity of sports nutrition amongst users. Drugstores or pharmacies, which hold a noteworthy share of user health investment, have surfaced as a major retail segment.
North America Added Up For Almost 50% Of The Worldwide Income Share Of The Global Market
North America is expected to dominate the global plant-based protein market owing to the increasing awareness for healthy food ingredients and the trend of weight management among consumers in this region. In Canada, for maintaining the safety of Canada's food supply is a shared responsibility among government, industry and consumers. Europe is second largest region in the global plant-based protein market due to the increasing demand for healthy & nutritional products, and health & wellness trend in this region. According to Food Spark, 56% of U.K. adults ate vegetarian/meat-free foods in the six months to July this year, a 6% increase from 2017.
The requirement in the US is predicted to develop at a slow speed over the coming period due to the rising usage of sports nutrition supplements. Moreover, increasing issues related to weight management paired with increasing user awareness about maintaining a healthy lifestyle and the consumption of a nutritious diet are predicted to power the growth of regional market over the coming period.
Cargill has launched new plant based protein brand PlantEver.
News: 30 June 2020- Cargill has launched new plant based protein brand PlantEver in China. PlantEver is offering two plant-based products, a chicken-alternative nugget and beef-alternative patty. These products provide Chinese consumers the nutrition value of veggie products combined with the joy that comes from eating great-tasting meat.
Plant Based Protein Market Dynamics-
The key factor for the growth of plant based protein market is increasing consumption of organic plant based food and beverages across the globe. Furthermore, hectic lifestyle coupled with rapidly changing preference of consumers towards plant based protein rather than animal protein due to animal diseases is driving plant based protein market. In addition, increasing awareness about plant protein among consumers owing to its health benefits such as it helps in reduction of weight, reduce cardiovascular diseases which drives plant based protein market. Additionally, rising adoption of plant protein products due to animal protein allergies so that consumers are more inclined towards natural protein this drives plant based protein market. According to, The National Institute of Allergy and Infectious Diseases reveal that 90% of food allergy is caused by eggs, milk, fish, red meat, soy, and nuts. However, the factors which restrict the growth of plant based protein market are volatility in raw material price. Moreover, innovation in new form of products will create huge opportunity in plant based protein market.
Plant Based Protein Market Regional Analysis-
North America is expected to dominate the growth of plant based protein market due to growing trend of adoption of plant protein in this region. Furthermore, presence of leading manufacturer such as Cargill, ADM and others driving the growth of plant based protein market in this region.
Asia-Pacific is projected to grow at faster pace due to increasing technological advancement in food and beverage industry in this region. In addition, hectic lifestyle and changing preference of the people towards vegan diet owing to health benefits this drives plant based protein market.
Europe is anticipated to grow due to increasing prevalence of diseases such as obesity and cardiovascular diseases in this region as plant protein helps in reduce weight and risk of cardiovascular diseases. Furthermore, consumers are more inclined towards plant protein than animal protein due to animal diseases and allergies in this region is driving the growth of plant based protein market.
Key Benefits for Global Plant-Based Protein Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Plant-Based Protein Market Segmentation:–
- Others (Quinoa, oats, beans, nuts, and seeds)
- Protein flour
- Protein beverages
- Dairy alternatives
- Meat alternatives
- Protein bars
- Nutrition supplements
- Processed meat, poultry, and seafood
- Bakery products
- Convenience food
- Sports nutrition
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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