Global Plant-based Protein Market foreseen to garner a CAGR above 7% by 2025
The global Plant-based Protein Market was worth USD 10.3 billion in 2019, and it is estimated that it will reach a valuation of USD 14.5 billion by 2025 at a CAGR of 7.1% during the outlook period.
Plant-based protein is made up of amino acids and is a basic nutrient needed by the human body. These proteins, obtained from plant foods like wheat and soybeans, are called plant proteins. Many plants provide large amounts of protein, such as lentils, tofu, peanuts, chickpeas, quinoa, spirulina, almonds, and chia seeds. Since plant protein is low in calories, it can be replaced with animal protein for weight loss.
- In September 2019, ADM expanded the production capacity of the CLARISOY soy protein isolate product line to meet growing consumer demand for soy protein isolates.
Market Drivers and Restraints:
Changing consumer preferences have shown changes in consumers seeking to adapt to a more nutritious diet with a focus on a more sustainable lifestyle and less dependence on animal protein. Growth in the health and wellness sector is also driven by increased use of health and fitness clubs, diet plans containing plant protein, as well as increased education and awareness about obesity. Consumers are aware of these properties of plant proteins and are gaining interest and importance among consumers seeking products that are natural, environmentally friendly and allergen free. Compared to other sources of protein, plant protein stands out as being environmentally friendly. Growing concern for animal products and the environment has led an increasing proportion of consumers to implement a flexible diet that includes plant protein as a key nutrient. Plant foods and drinks have functional health benefits and are made up of essential minerals. However, in some cases, the consumption of selected sources such as soybeans and wheat are identified as an allergen, resulting in careful consumer acceptance. The other aspect is the allergy to gluten, common in wheat proteins with similar properties, which has affected the growth prospects of both protein sources. Producers are focusing their efforts on the production of non-GM soy, which often leads to higher production costs and lower sales margins.
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Report is segmented as:
According to sources, the world market for plant-based proteins has been segmented into wheat, peas, beans, etc. In the global market for plant-based proteins, the soybean segment had the largest share in terms of sales. On the basis of application, the global market for plant-based proteins is segmented into dairy alternatives, protein drinks, nutritional supplements, meat alternatives, etc. By type, the global market has been segmented into concentrate, isolate, and protein powder.
North America dominates market share and is expected to drive business in the forecast period as the health concerns of the elderly plant protein food population increase alongside the remarkable growth of the fitness industry from the region. Due to the growing fitness industry, the demand for nutritional supplements is increasing in the Asia Pacific area,...
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