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Plantbased Protein Market Sales to Generate Revenue over US$ 17.3 Bn by 2029 End-Persistence Market Research

Persistence Market Research has published a report on the plant-based protein market, which includes the global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and projects that the global plant-based protein market is expected to reach ~ US$ 9.6 Bn by the end of 2019 in terms of value, and is forecasted to reach ~ US$ 17.3 Bn by the end of 2029.

According to the report, proteins are an important for muscle building. Plant-based proteins are non-GMO vegetable proteins and are an ideal source of post-workout nutrition for athletes over other types of proteins. The increasing popularity of plant-based proteins in the nutraceuticals for sports supplements can help athlete boost the stamina and enhance performance, and it will also create multiple lucrative opportunities for manufacturers of plant-based protein in the nutraceutical industry over the forecasted period.

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Exhibitions and Conferences – New Launching Pads for Plant-based Proteins

Plant-based proteins are perceiving substantial demand from the mature markets such as North America and Europe. These regions are hosting various events, exhibitions, and conferences where manufacturers of plant-based proteins are getting the opportunity to showcase their ingredients and products. These events are also turning out to be the successful launching platforms for showcasing innovative and new products by plant-based protein manufacturers. These launches help manufactures to better connect with their audience and promote better understanding of product innovations in the plant-based proteins category.

Decrease in Dairy Consumption Positively Impacting the Market

Dairy milk consumption has been declining in recent years in regions such as North America and Europe. This considerable decrease in dairy consumption is driven by factors such as the aging population, the rise of veganism, concerns about animal welfare, and preferences for other sources of protein. The study shows that consumers from these regions are giving maximum preference to plant-based proteins over dairy proteins, which is expected to have a long-term positive impact on the plant-based protein market.

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Acquisition Strategies Playing a Vital Role for Top Competitors

The plant-based protein market is witnessing a continuous rise in demand across the globe. The number of new entrants in the plant-based protein market is also increasing. This results in the tough competition for the established market players around the globe. The study shows that more...

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