Plant-based Protein Market Future Scope and Latest Trends Analysis Report

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Plant-based Protein Market– by Source (Soy, Wheat, Pea, and Others), Type (Isolates, Concentrates, and Textured), Form (Dry and Liquid), Deployment Mode (Foods and Beverage, Animal Feed, Nutrition and Health Supplements, and Pharmaceuticals), Trends, Industry Competition Analysis, Revenue and Forecast To 2030.”

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According to the latest research by InsightAce Analytic, the global Plant-based Protein market is valued at US$ 12.90 Billion in 2021, and it is expected to reach US$ 21.57 Billion by 2030, with a CAGR of 6.20% during a forecast period of 2022-2030.

The only essential nutrient that the human body needs is protein. They aid in producing hormones, enzymes, and other bodily substances. It is a crucial component of skin, blood, muscles, bones, cartilage, and other tissues. Soy, pea, wheat, and other plant-based sources produce plant-based proteins, which are then further processed to create the finished product.

It is also taken into account as an alternative to proteins derived from animals. They have been widely used in the food, beverage, and animal feed industries. These plant-based proteins are available in various shapes and are substituted for meat in several culinary products. Plant-based proteins, including those found in chickpeas and pea protein, are added to beverages to boost their nutritional value. Due to their nutritional value, these proteins are used in various dietary products. As a result, many health-conscious individuals are gravitating toward plant-based proteins.

The market for plant-based proteins is expanding as a result of factors including an increase in the number of health-conscious consumers, an increase in the number of consumers who are lactose intolerant, increased consumer awareness of the advantages of plant-based proteins, investments and collaborations in the industry, and an expanding number of applications for plant-based proteins.

Another factor anticipated to help the market’s revenue growth is the nutraceuticals sector’s rapid expansion. Growing consumer demand for functional foods, dietary supplements, and nutraceuticals is expected to significantly boost the industry’s growth and, in turn, the market for plant-based proteins. However, problems with digestion and other illnesses are a substantial barrier to the market’s expansion in terms of revenue.

Similarly, some plant-based proteins, such as soy protein and its powder, include phytates that reduce the body’s ability to absorb minerals. This could result in health issues related to a mineral deficit. Additionally, the isoflavones in soy behave as goitrogens, which can impair thyroid function and thus alter hormone synthesis.

North America is anticipated to be the major contributor to the plant-based protein market over the forecast years. Because of the industry’s fast growth and surge in food manufacturers. Since Canada is the world’s top producer and exporter of peas, food producers have the chance to buy peas at a constant price and use them to make pea protein.

The United States is also the world’s second-largest producer of soybeans, which has significantly increased demand for them as a substitute protein source. In addition, the Europe plant-based protein market is expected to grow considerably during the forecast period.

The rapid expansion of food producers with a reliable and sustainable supply chain is anticipated to fuel market expansion. The market in the region is also anticipated to see revenue growth due to growing awareness of healthy eating habits, including diets high in protein and a general preference shift toward organic and vegan food products.

Major market players operating in the Plant-based Protein market include Kerry Group, Cargill Inc., Glanbia plc., Wilmar International, Emsland Group, Puris, Cosucra Group, AMCO Proteins Company, Batory Foods, Roquette Freres, Ingredion Inc., Burcon Nutracience, Sotexpro, AGT Food & Ingredients, Beneo, Prolupin Gmbh, Aminola, Herblink Biotech Corporation, Archer Daniels Midland Company, DSM, E.I. Dupont De Nemours and Company, ET  Chem, Shandong Jianyuan Group, The Greenlans LLC, Parabel, Corbion NV, Danone, Farbest Brands, Axiom Foods Inc., NOW Foods, Tate & Lyle Plc, Crespel & Deiters GmbH & Co. KG, CHS Inc., and Other Prominent Players.

Recent collaborations and agreements in the market:

• In April 2022, Cargill (US) recently announced the expansion of its Radipure pea protein product portfolio to Turkey and the Middle East to satisfy the growing demand for pea protein as a substitute source of protein in these countries, Indian and African markets.
• In July 2021, To expand its production capacity and meet the rapidly growing global demand for plant-based proteins, Sojaprotein (Serbia) was purchased by ADM (US), one of the leading producers of plant-based proteins in Southern Europe.
• In September 2020, ADM (US) introduced Prolite MeatXT and Prolite MeatTEX, two types of textured and non-textured wheat proteins that increase the density and texture of meat replacements. With the release of this product, ADM completed its line of textured soy, wheat, and pea proteins.

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Market Segments

Global Plant-based Protein Market, by Source, 2022-2030 (Value US$ Mn)

Global Plant-based Protein Market, by Type, 2022-2030 (Value US$ Mn)

• To receive a comprehensive analysis of the prospects for the global Plant-based Protein market
• To receive an industry overview and future trends of the Plant-based Protein market
• To analyze the Plant-based Protein market drivers and challenges
• To get information on the Plant-based Protein market value (US$Mn) forecast to 2030
• Significant investments, mergers & acquisitions in the Plant-based Protein market industry