Fort Collins, Colorado, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Plant-based Protein Market size was valued at USD 9.3 Billion in 2022 and is expected to reach USD 17.1 Billion by 2032 with a CAGR of 6.3%.
The plant-based protein market is growing as more consumers prefer plant-based foods for their safety and health benefits. Vegetarianism is driving this market, as well as concerns about animal welfare. Additionally, the plant protein supplements industry has experienced significant growth due to the increasing awareness of the health benefits of plant-based diets.
The human body can produce only 10 out of the 20 types of amino acids needed for good health. As a result, dietary supplements are necessary to ensure a sufficient supply of essential nutrients. Proteins are essential for maintaining good health, and the body can obtain critical amino acids from the muscles. A protein-deficient diet can weaken immunity, stunted growth, and heart and respiratory failure. To reduce saturated fat intake, lower cholesterol levels, and improve overall health, consumers are increasingly seeking alternative sources of protein that are considered healthier.
Plant-based proteins substitute for animal sources, providing similar taste and texture. Soy, broccoli, quinoa, lentils, jackfruit, and other plant-based ingredients can create animal-free meat and eggs. Plant-based food offers numerous health benefits, including a healthy gut, better athletic performance, younger-looking skin, and reduced harmful bacteria. It also contains fiber that regulates sugar in the body, controls blood sugar and hunger, promotes regular digestion, and aids in blood sugar regulation.
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Segmentation Overview:
The global plant-based protein market has been segmented into product type, form, nature and applications, and region. Soy proteins are the leading option in the plant-based protein market, offering high nutritional value and containing all the essential amino acids. They are popular among vegan consumers and provide several health benefits, such as improved metabolism and bone mineral density. Isolates are the top segment of plant-based proteins, offering a higher nutritional content and a neutral taste.
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Plant-based Protein Market Report Highlights:
- The global plant-based protein market growth is anticipated at a CAGR of 6.3% by 2032.
- Plant-based proteins with essential amino acids are necessary for humans, leading to market growth.
- North America dominates the global plant-based protein market, specifically the United States, due to increasing consumer demand and the well-established retail infrastructure.
- Some prominent players in the plant-based protein market report include Glanbia plc, Cargill Incorporation, AGT Food & Ingredients Inc., Cosucra Groupe Warcoing, Ingredion Inc., Archer Daniels Midland Company, Roquette Frères Le Romain, Kerry Group, Burcon NutraScience Corporation, and DuPont de Nemours, Inc.
Industry Trends and Insights:
- United States Steel Corporation and DuPont launched COASTALUME, North America’s first GALVALUME material for coastal environments.
- ADM announced flavor and color trends for product innovation in 2024, with four trends reflecting evolving consumer behaviors and self-expression associated with individual fitness goals.
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Plant-based Protein Market Segmentation:
- By Product Type: Soy Protein, Wheat Protein, Pea Protein and Others
- By Form: Isolates, Concentrates and Hydrolysates
- By Nature: Organic and Conventional
- By Application: Meat products, Dairy products, Health supplements and nutrition, Food & Beverages, Bakery & Snacks, Animal Feed and Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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