Plant-based Protein Market Size, Share & Forecast


Plant-based Protein Market

Plant-based Protein Market was projected at USD 9506 Million in 2019 and predicted to grow at 7.7% CAGR during the forecast period. Plant based protein provides options to consumers across the globe to add protein-based food in their diets.

A rapid growth in vegan population and an increasing consciousness towards the benefits of protein contributes to the growth of plant based-protein market. Rapid urbanization, increasing employment, changing lifestyles across the globe and rising concerns about health risks associated with consumption of animal protein are some of the other factors driving the growth of plant-based protein market. Also, consumers inclination towards health & wellness and the increasing usage of soy protein in the food industry has propelled the Plant-Based Protein Market Size.

Increasing demand for organic and plant-based products amongst the young adults and rising awareness towards accepting healthy lifestyles is expected to augment plant-based product market share in the forthcoming years. Plant-based products minimizes the risk of Heart and Cardiovascular diseases because it contains saturated fat, sodium, and less cholesterol as compared with any animal protein product. However, the growth of plant-based protein market is hindered by the growing demand for other substitute protein such as soy-free and gluten-free.

Type- Segment Analysis

Based on the Type, the Isolates segment is projected to grow at a higher CAGR during the forecast period attributed to its easily digestible nature and high concentration of protein which makes it highly lucrative for consumers.

Application- Segment Analysis

Based on the Application, the food segment is expected to capture the largest market share in the global Plant-based Protein due to increasing consciousness amongst consumers to adopt healthy lifestyle, growing vegan population, some estimates show that there has been a 40% increase in vegan population in 2020. In addition, as per the Plant-Based Protein Market Research, growing concerns about animal protein product is going to keep up the growth of food segment in coming years.

Source- Segment Analysis

Based on the source, the Soy segment holds the highest market share in the global Plant-based Protein market owing to readily accessible raw materials and its cost effectiveness as compared with other available sources such as pea, wheat etc. Growing demand and increasing acceptance of consuming plant-based protein will further support the growth of Soy segment.

Region- Segment Analysis

Based on region, the North America region is anticipated to dominate the global plant-based protein and is projected to grow at a substantial growth rate due to booming vegan population and changes in preferences for animal meat amongst consumers. Increasing health problems such as obesity, diabetes etc. In the United States has propelled the consumers to embrace vegan diet.

Plant-based Protein Market Segmentation:

Plant-based Protein Market by Type

  • Isolates
  • Concentrates
  • Textured Protein

Plant-based Protein Market by Application

  • Feed
  • Food
    • Meat Alternatives
    • Dairy Alternatives
    • Bakery
    • Performance Nutrition
    • Convenience Foods
    • Others

Plant-based Protein Market by Source

  • Soy
  • Pea
  • Wheat
  • Others

Global Plant-based Protein Market by Form

  •  
  • Dry
  • Liquid

Plant-based Protein Market by Region:

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Comments

Popular posts from this blog

Restaurant Point Of Sale Terminal Market Share Report & Forecast 2029

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Crypto Asset Management Market size, share & Trends Forecast 2028