London, Aug. 20, 2019 (GLOBE NEWSWIRE) -- According to a new market research report “Plant Based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein) and Application (Foods and Beverage, Animal Feed, Nutrition and Health Supplements, Pharmaceuticals)– Global Forecast to 2025”, published by Meticulous Research®, the global plant-based protein market is expected to grow at a CAGR of 8.1% from 2019 to reach $14.32 billion by 2025.
Consumer interest to boost protein intake is increasing with more attention being paid to the specific types of protein being consumed. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and foodservice operators is intensifying, thereby fueling the growth of the overall plant-based protein market.
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Factors such as increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from food & beverage industry, and various advancements in ingredient technologies such as microencapsulation are driving the growth of this market. Moreover, new and emerging sources of protein, increasing inclination towards vegan diet, and emerging economies provide significant opportunities for all the stakeholders in this market. However, factors such as significant preference for animal based protein and fluctuating raw material prices are hindering the growth of the overall plant based protein market to some extent.
The global plant based protein market is mainly segmented by ingredient type (soy protein (soy protein concentrates, soy protein isolate, textured soy protein, and soy flour, grits, chunks); wheat protein (vital wheat gluten, wheat protein isolate, hydrolyzed wheat protein, and textured wheat protein); pea protein (pea protein isolate, pea protein concentrate, and others); canola protein; potato protein; rice protein; corn protein; and others; and application (foods and beverages (meat, poultry, & seafood, bakery, meat analogue, dairy & dairy alternatives, cereals & snacks, beverages, and others); animal feed; nutrition & health supplements; pharmaceuticals; and others.
On the basis of ingredient type, soy protein segment is estimated to command the largest share of the overall plant based protein market in 2019. However, pea protein segment is expected to witness a rapid growth during the forecast period. The rapid growth of this segment is mainly attributed to growing consumer’s desire to find sustainable and better tasting alternatives to animal-based proteins, rising demand for gluten free products, and growing investments from leading players such as Roquette Frères Le Romain, Ingredion Inc., and Kerry Group in this space. Along with this, its nutritional qualities as well as its allergen free, gluten free, and lactose free properties are further supporting the growing demand of pea protein across the globe.
On the basis of application, food and beverage segment is estimated to command the largest share of the overall plant based protein market in 2019. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trend.
Geographically, though North America commanded the largest share of the overall plant based protein market, Asia- Pacific plant based protein market is developing and expanding at a significant pace. The rapid growth of this market is mainly attributed to growing protein rich diet awareness, increasing health consciousness, growing technological advancements in food & beverages industry, and increasing raw material availability. China is expected to dominate the Asia Pacific market through 2025, mainly due to growing food demand, increasing government’s investment in food R&D sector, adoption of emerging technologies for product innovation, collaboration between international and domestic food companies, and presence of large number of players.
Browse key industry insights spread across 226 pages with 183 market data tables & 37 figures & charts from the report: https://www.meticulousresearch.com/product/plant-based-protein-market-5031/
The major players operating in the global plant based protein market are Archer Daniels Midland Company, Cargill, Incorporated, Roquette Freres Le Romarin, Ingredion Inc., Kerry Group, E.I. Dupont De Nemours and Company, NOW Foods, Tate & Lyle Plc, Axiom Foods Inc., AMCO Proteins, Burcon Nutrascience Corporation, Beneo GmbH, Glico Nutrition Co., Ltd., Glanbia plc., Corbion NV, Cosucra Groupe Warcoing SA, Sotexpro, Farbest Brands, Crespel & Deiters GmbH & Co. KG, Wilmar International Ltd., and CHS Inc. among others.
Scope of the Report:
Market by Ingredient Type
- Soy Protein
- Soy Protein Concentrates
- Soy Protein Isolate
- Textured Soy Protein
- Soy Flour, Grits, Chunks
- Wheat Protein
- Vital Wheat Gluten
- Wheat Protein Isolate
- Hydrolyzed Wheat Protein
- Textured Wheat Protein
- Pea Protein
- Pea Protein Isolate
- Pea Protein Concentrate
- Others
- Canola Protein
- Potato Protein
- Rice Protein
- Corn Protein
- Others
Market by Application
- Foods and Beverages
- Meat, Poultry, & Seafood
- Bakery
- Meat Analogue
- Dairy & Dairy Alternatives
- Cereals & Snacks
- Beverages
- Others
- Animal Feed
- Nutrition & Health Supplements
- Pharmaceuticals
- Others
Market by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of APAC (RoAPAC)
- Rest of World
- Latin America
- Middle East and Africa
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