Plantbased Protein Market

Global Market Study on Plant-based Protein: ‘Flexitarian’ Dietary Preferences Boosting Demand

Plant-based Proteins Gaining Global Importance

Proteins are important building blocks of muscles. The protein concentration in the plant-based protein ranges from 50%-85% and are ideal for vegan and vegetarian diet plans. Demand for healthy food will continue to grow to combat obesity and increasing prevalence of diseases due to changing lifestyles.

Growth in the health and wellness sector is also led by increasing use of diet plans containing plant-based proteins, health and fitness clubs, as well as growing education and awareness concerning obesity.

When compared to other sources of proteins, plant-based protein stands out, as it is environment-friendly. Consumers are becoming aware of these properties of plant-based protein, and is getting attention and importance among consumers seeking natural, environment-friendly, and allergen-free products.

Growing concerns about animal-based products and environment are giving rise to higher rates of consumers practicing a flexitarian diet, which includes plant-based proteins as core nutritional ingredient.

global plant based protein market value share

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Companies

Company Profiles:

  • Cargill, Incorporated 
  • Archer Daniels Midland Company
  • Glanbia, Plc 
  • DuPont de Nemours, Inc. 
  • Kerry Group
  • AGT Food and Ingredients
  • Roquette Frères
  • Axiom Foods, Inc.
  • A&B Ingredients
  • Prolupin GmbH
  • NOW Health Group Inc.
  • Vestkorn Milling AS
  • The Green Labs LLC
  • Farbest Brands
  • Royal Ingredients Group
  • Aminola
  • BENEO GmbH
  • Greenway Organics (Tianjin) Co. Ltd
  • Gemef Industries

Increasing Food Sensitivity Setting New Norms in the Plant-based Proteins Market

The purchasing pattern of consumers is changing for plant-based products. The effectiveness and environmentally friendly characteristics of plant-based proteins are the most influencing factors for the increase in demand for plant-based proteins across the globe. The food allergy rates are rising in the established markets worldwide, with food sensitivity influencing consumer preferences.

The vegetarian population is already consuming plant-based proteins, but allergies in consumers such as lactose intolerance are restricting the protein intake. Plant-based proteins are coming in the limelight as a dairy protein alternative owing to its exception and high nutritional quotient. Thus, these non-GMO plant-based proteins are anticipated to witness the rising demand in the allergen-free markets over the forecasted period.

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North America and Europe - Top Markets for Plant-based Protein

Plant-based proteins have a growing demand owing to the increasing popularity of veganism in established markets such as North America and Europe. The study shows that North America and Europe together account for more than 65% of the market share in the plant-based protein market.

These regions also have the highest number of plant-based protein manufacturers across the globe. The leading manufacturers in the plant-based protein market are also North America and Europe-based manufacturers, holding more than 35% of market share in the plant-based protein market.

North America and Europe also have a decent number of small and medium-scale local plant-based protein manufacturers. This has also increased the market penetration and market share of these two regions. Trend of veganism is gaining more popularity in the North America and Europe and more and more population is leaning towards veganism. North America is expected to grow at a CAGR ~ 4% and Europe is expected to grow at a CAGR ~ 5% over the forecasted period.

The Asian continent is divided as South Asia and East Asia, which are expected to register high growth in the plant-based protein market over the forecasted period. Asian countries are considered as the best possible markets for the plant-based protein market. The trend of being vegan is also getting channelized in these emerging markets.

The increasing popularity of veganism is accelerating the plant-based protein market in the Asia Pacific region. East Asia is expected to grow at the highest CAGR ~ 10% and South Asia expected to grow at a CAGR of ~ 8% over the forecasted period.

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Analysts’ Viewpoint

A comprehensive view of the global plant-based protein market has led our analysts to conclude that the market is growing at a stable rate, with North America and Europe holding a large chunk of the global consumption of the plant-based protein market.

The increasing innovation in the plant-based proteins and plant-based protein products is providing acceleration to the market. Impact of meat and dairy production on environment and intervention of animal welfare groups are providing a substantial thrust to the plant-based protein market across the globe. Plants and proteins have appeal to a majority of consumers. The desire for plant-based diet and protein’s nutritional quotient are dual forces driving the plant-based protein segment.

Companies with research and development capabilities and expertise in the use of technology will gather momentum and profitability in the global plant-based protein market. Leading market players who are adopting an acquisition strategy will continue to grow and have a vast market revenue share.

However, the high pricing of the plant-based protein and lack of awareness about the plant-based protein in the emerging economies are restricting the market growth for the plant-based protein market.

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Key Segments of the Global Plant-based Protein Market

PMR’s study on the global plant-based protein market offers information divided into 5 important segments- product type, form, nature, application and region.

 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 & Desserts
  • Beverages
  • Animal Feed
  • Others
Region
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

 

Key Questions Answered in PMR’s Global Plant-based Protein Market

  • Which region will have the highest market share in the global plant-based protein market over the forecasted period?
  • Which region is experiencing the highest growth (CAGR)?
  • Which factors are impacting the global plant-based protein market?
  • Which are the global trends in the plant-based protein market that are impacting the market?
  • What strategies need to adopted by the emerging players in the plant-based protein market to capture the opportunities in various regions?
  • What is the market structure of the global plant-based protein market?

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