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Meticulous Research® – leading global market research company published a research report titled “Plant Based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein) and Application (Foods and Beverage, Animal Feed, Nutrition and Health Supplements, Pharmaceuticals)– Global Forecast to 2025”. According to this latest publication from Meticulous Research®, the global plant based protein market is expected to grow at a CAGR of 8.1% from 2019 to reach $14.32 billion by 2025.
Demand for plant-based protein is showing high growth as consumers believe them to be healthier than traditional animal-based proteins. The growth of this market is mainly attributed to increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from food & beverage industry, growing investments from leading players, and various advancements in ingredient technologies such as microencapsulation.
The global plant based protein market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025-by type (soy protein (soy protein concentrates, soy protein isolate, textured soy protein, and soy flour, grits, chunks); wheat protein (vital wheat gluten, wheat protein isolate, hydrolyzed wheat protein, and textured wheat protein); pea protein (pea protein isolate, pea protein concentrate, and others); canola protein; potato protein; rice protein; corn protein; and others; and application (foods and beverages (meat, poultry, & seafood, bakery, meat analogue, dairy & dairy alternatives, cereals & snacks, beverages, and others); animal feed; nutrition & health supplements; pharmaceuticals; and others. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on type, soy protein segment is estimated to command the largest share of the global plant based protein market in 2019. The large share of soy protein is attributed to higher consumer acceptance level, presence of large number of manufactures and their high scale of production, low cost than other types of plant proteins, increased demand for plant-based products, easy availability of raw materials, and large number of applications in various industries. However, pea protein market segment is expected to witness a rapid growth during the forecast period. The rapid growth of this segment is mainly attributed to growing consumer’s desire to find sustainable and good tasting alternatives to animal-based proteins, rising demand for gluten free products, and growing investments from leading players such as Roquette Frères Le Romain, Ingredion Inc., and Kerry Group in this space. Along with this, its nutritional qualities as well as its allergen free, gluten free, and lactose free properties also supporting the growing demand of pea protein across the globe.
Based on application, food and beverage segment is estimated to command the largest share of the overall plant based protein market in 2019, which is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, rising meat prices, and rising clean label trend.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Switzerland, Germany, Italy, the U.K., France, Ireland, and RoE), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global plant based protein market, followed by Europe and Asia-Pacific. The largest share of this region is mainly attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, and growing health & wellness trend. Moreover, presence of large number of nutritional supplements manufacturers and growing technological advancement in food industry also supports the growth of plant-based protein market in this region.
The major players operating in the global plant based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Freres Le Romarin (France), Ingredion Inc. (U.S.), Kerry Group (Ireland), E.I. Dupont De Nemours and Company (U.S.), NOW Foods (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Proteins (U.S.), Burcon Nutrascience Corporation (Canada), Beneo GmbH (Germany), Glico Nutrition Co., Ltd. (Japan), Glanbia plc. (Ireland), Corbion NV (the Netherland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International Ltd. (Singapore), and CHS Inc. (U.S.).
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Key questions answered in the report-
- Which are the high growth market segments in terms of types, application, and region/countries?
- What was the historical market for plant based across the globe?
- What are the market forecasts and estimates for the period 2019-2025?
- What are the major drivers, restraints, opportunities, and challenges in the global plant based protein market?
- Who are the major players in the global plant based protein market?
- How is the competitive landscape and who are the market leaders in the global plant based protein market?
- What are the recent developments in the global plant based protein market?
- What are the different strategies adopted by the major players in the global plant based protein market?
- What are the geographical trends and high growth regions/ countries?
- Who are the local emerging players in the global plant based protein market and how do they compete with the global players?
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
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