Plant-based Protein Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Plant-based Protein Market: Overview
Plant protein refers to a significant source of protein that comes from plants. This source of protein can be peas, certain grains, seeds, nuts, seitan, tempeh, soya, tofu, and pulses. Of these, pulses come from a large group of plants, including split peas, lentils, chickpeas, and beans. Beans comprise adzuki, kidney, and black beans. The global plant-based protein market is likely is estimated to witness considerable growth over the period of analysis, from 2019 to 2029. The growth of the global plant-based protein market is anticipated increased use of pea protein in food sector. Besides, innovations and evolution in the plant-protein extraction method is likely to add to the demand for plant-based protein over the tenure of analysis, from 2019 to 2029.
Proteins are considered crucial building blocks of muscles, which is important for proper functioning of the body. The concentration of protein in plant-based protein ranges from 50% to 85% and are considered suitable diet plans for vegetarians and vegans. In a bid to fight off obesity and augmented prevalence of various lifestyle diseases, the demand for healthy food is anticipated to rise. Prevalence of lifestyle diseases is attributed to the changing lifestyle of people. In addition, progress in the wellness and health sector is estimated to be driven by augmented use of diet plans that contain plant-based proteins.
Source, type, form, application, and region are the five key parameters based on which the global plant-based protein market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
Global Plant-based Protein Market: Notable Developments
The global plant-based protein market has come across some major developments over the last few years. One of such developments that have played an important role in influencing the course of the market is mentioned below:
Some of the key players in the global plant-based protein market comprise the below-mentioned:
The following drivers, restraints, and opportunities characterize global plant-based protein market over the assessment period, from 2019 to 2027.
Expansion of Lactose-intolerant Population is Expected to Drive Market Growth
Plant-based protein is environment friendly and is different from other sources of protein. Consumers are gaining awareness about the benefits of plant-based protein and these products are gaining traction amongst the consumers looking for allergen-free, natural, and environment friendly products. Increased concern about the harmful effects of animal-based products on health and its adverse effects on the environment are likely to drive the demand for plant-based protein as main ingredient for nutrition.
There has been a rise in the vegetarian population and they are regularly consuming plant-based proteins. There has been a rise in consumers with lactose intolerance, which is caused by consumption of alternative dairy protein due to its exceptionally high protein intake. As such, the demand for non-genetically modified organisms (GMO) is bound to rise in the allergen-free markets over the tenure of assessment. This factor is expected to work in favor of the global plant-based protein market over the tenure of assessment.
Global Plant-based Protein Market: Geographical Analysis
North America is forecasted to come up as one of the leading regions in the global plant-based protein market. Growing prominence of the region is owing to the presence of several leading market players in the region, such as Puris, Archer-Daniels-Midland Company, DuPont de Nemours, Inc, and Cargill Incorporated. Besides, increased awareness about the benefits of these products are estimated to propel growth of the region in the near future.
The global plant-based protein market is segmented as:
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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