Plant-based Protein Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

  • Single User License $3500

Plant-based Protein Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : September, 2021 | Food and Beverages

Report Digest


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:

  • In January 2019, Archer-Daniels-Midland Company constructed a new production complex for soy protein in Brazil. The production complex is tasked with the manufacturing of a wide range of concentrates of functional protein and is isolated from the company’s line of products. This set up is estimated to expand the presence of the company in the region.

Some of the key players in the global plant-based protein market comprise the below-mentioned:

  • Archer-Daniels-Midland Company (ADM)
  • Wilmar International
  • Herblink Biotech Corporation
  • Koninklijke DSM N.V.
  • DuPont de Nemours, Inc.
  • Roquette Frères

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:

Source

  • Soy
  • Wheat
  • Pea

Type

  • Isolates
  • Concentrates
  • Textured

Form

  • Dry
  • Liquid

Application

  • Food
  • Feed

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?