Dublin, March 14, 2024 (GLOBE NEWSWIRE) -- The "Global Plant-based Protein Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The plant-based protein market is experiencing significant momentum with a composite annual growth rate (CAGR) of 8.4% forecasted from 2024 to 2031. Outlined in this report, the industry's anticipated value by the end of 2031 is a substantial $26.45 billion. This growth projection responds to an increased demand for protein-rich diets, health and wellness awareness, and the consumer shift towards meat alternatives.
The report provides a grand overview of the global plant-based protein landscape, encapsulating a comprehensive market size, growth drivers, and detailed segmentation. The industry's upward trajectory is fueled by advancements in ingredient technologies, such as microencapsulation, and a rising preference for plant-derived nutrition.
An impactful analysis of the soy proteins, wheat proteins, pea proteins, and other plant-based proteins is meticulously crafted within the report. It offers insights on both solid and liquid forms, including how conventional and organic sourcing processes are differentially influencing market dynamics.
Applications in the Spotlight
- Food & Beverages
- Animal Feed
- Nutritional Supplements
The report's application segment analysis spotlights the dominance of the food & beverage sector, which is expected to maintain the largest market share come 2024. Yet, significant growth potential within the health and nutrition supplements sector is also underscored throughout the forecast period.
On a regional front, the Asia-Pacific market is projected to witness the highest growth rate over the next decade. The propulsion is theorized on factors such as the expanding food and beverage industry, a substantial vegan population, and amplified health consciousness amongst consumers.
The plant-based proteins industry report also identifies central players contributing to market evolution, exploring their product portfolios and recent strategic developments that echo throughout the industry.
The global shift towards plant-based diets amongst consumers, particularly in emerging economies, along with a growing intolerance for animal proteins, is expected to generate ripe opportunities for market players.
This report holds the answers to critical questions about revenue currents, growth rates, and influential market factors. In addition, the deep-dive regional and country-level analysis offers a panoramic view of the industry's innovative horizons.
Geographical Expansion and Industry Growth
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Comprehensive coverage of these geographical regions provides strategic insights into localized and global market dynamics, offering stakeholders a multifaceted understanding of where the plant-based protein industry is heading.
Companies Mentioned
- Archer-Daniels-Midland Company (U.S.)
- Cargill Incorporated (U.S.)
- Roquette Frères (France)
- Ingredion Incorporated (U.S.)
- Kerry Group PLC (Ireland)
- International Flavors & Fragrances Inc. (IFF) (U.S.)
- Now Health Group Inc. (U.S.)
- Tate & Lyle PLC (U.K.)
- Axiom Foods Inc. (U.S.)
- AMCO Protein (U.S.)
- Burcon NutraScience Corporation (Canada)
- BENEO GmbH (A Part of Südzucker AG) (Germany)
- Glico Nutrition Co. Ltd (Japan)
- Glanbia PLC (Ireland)
- Cosucra Groupe Warcoing SA (Belgium)
- Sotexpro (France)
- Farbest-Tallman Foods Corporation (U.S.)
- Crespel & Deiters GmbH & Co. KG (Germany)
- Wilmar International (Singapore)
- CHS Inc. (U.S.)
For more information about this report visit https://www.researchandmarkets.com/r/k25vai
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