The Global Plant-based Protein Market is expected to be valued at USD 16.63 Billion in 2027 from USD 9.98 Billion in 2019, registering a CAGR of 7.0% through the forecast period. Rising awareness regarding health among the health-conscious people and growing inclination towards adopting different dietary patterns among the population are promoting industry growth. Additionally, the soaring demand for several protein supplements among a large number of consumers for improving their health and wellness is further augmenting demand for different plant-based protein products, thus propelling the industry’s growth. The growing population’s sedentary lifestyle has led to the development of various lifestyle-related diseases, the elevating need for consuming a wide range of plant-based protein products.
Rapid advancements in microbiology and biotechnology research activities are fueling the market’s development. Furthermore, the rising innovations and the rapid launch of enhanced products by several new and leading players in the market are pushing the market’s dynamics at the global level. Moreover, the growing number of people with lactose intolerance is largely contributing to the industry’s growth. A growing trend of plant-based milk with the source of extra protein is triggering demand in the sector.
Key Highlights from The Report
- In February 2019, Watson—business headquarters in non-dairy ingredient solutions in the U.S., signed an acquisition with Glanbia PLC. Watson is a supplier as well as manufacturer of high-quality food and beverage, custom nutrient premix, bakery ingredient, edible film, personal care and supplement, and material conditioning solutions.
- The dry form sub-segment accounted for the highest industry share of 59.6% in 2019. The rising need for protein concentrates has led to the increasing use of the dry form for protein processing required in protein concentrates production.
- The protein isolates sub-segment is forecast to expand with the fastest CAGR of 7.6% over the estimated period. The protein isolates are mixed with distinct food products and are easy to digest, resulting in increased demand among a large health-conscious population-base.
- The food ingredients sub-segment exhibited the highest industry market share in 2019, owing to the rising demand for meat-free food products with low-calorie.
- The soy protein sub-segment held the maximum industry share in 2019 because of rapid advancements in the area of food science along with processing technology and the high availability of soy products in the global nutrition sector.
- Asia Pacific is foreseen to register a stellar growth rate during the estimated timeline. The growing urbanization and the rising consumer’s purchasing power have resulted in increasing eating habits, augmenting the demand for different types of plant-based protein products in the Asia Pacific region.
- Leading industry participants include ARCHER DANIELS MIDLAND (ADM), CARGILL, DuPont, GLANBIA, ROQUETTE FRÈRES, WILMAR INTERNATIONAL, KERRY GROUP, DSM, INGREDION, and EMSLAND GROUP, among others.
Emergen Research has segmented the Global Plant-based Protein Market on the basis of type, form, application, source, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Protein Concentrates
- Protein Isolates
- Textured Protein
Form Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Food Ingredients
- Animal Feed
Source Outlook (Revenue, USD Billion; 2017-2027)
- Others (Rice, Potato, Canola, and Oats)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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