The number of athletic and sporting activities has seen a significant increase, which is driving up demand for plant protein components. Sales are expected to increase by more than US$ 1.0 Bn by the end of the forecast period due to the sports segment’s increasing usage of plant protein components.
Since the nutritional profile of plant proteins is appealing to consumers and is expected to generate an absolute dollar opportunity of US$ 3.0 Bn during the forecast period, protein fortification and standardization are accelerating the market for plant protein ingredients on an upward growth trajectory.
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Key Segments Covered
FactMR’s study has done the segmentation of the plant protein ingredient market on the basis of product type, form, application, and region.
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By Product Type :
- Soy Protein
- Wheat Protein
- Pea Protein
- Rice Protein
- Potato Protein
- Others
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By Form :
- Isolate
- Concentrate
- Other Forms
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By Application :
- Sports Nutrition
- Clinical Nutrition
- Infant Nutrition
- Bakery & Confectionary
- Fortified Food & Beverages
- Other Applications
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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A comprehensive study of each market participant’s corporate strategy, including mergers, the launch of new products, joint ventures, and partnerships, is included in the Plant Protein Ingredient Market Report.
The current COVID-19 outbreak has had a very detrimental effect on the market for plant protein ingredients as a whole. The temporary halt of manufacturing operations in all of the major manufacturing hubs has caused a significant delay in production. Demand and purchasing power among consumers are also impacted by COVID-19. It is very challenging to predict when and how the market for plant protein ingredients will resume given the projected length of the suspension. The Cov-19 is projected to have a significant impact on the market study of Plant Protein Ingredient.
Key Takeaways of the Global Plant Protein Ingredient Market
- The surge in demand for concentrate type of plant protein ingredients accounts for more than 60% market share and is expected to indicate a rising growth curve in the plant protein ingredient market during the period of forecast 2019 – 2027.
- Wheat plant protein ingredient type is a major contributor to the global plant protein ingredient market and is projected to grow 1.4X over the period of forecast 2019 – 2027.
- North American and East Asia plant protein ingredient markets together hold more than 3/5th market share. East Asia will grow at a higher CAGR than the global average.
- South Asia and Oceania plant protein ingredient market to hold more than 10% market share in terms of volume and are likely to gain 178 BPS over the forecast period 2019 – 2027.
- United States spending on plant protein ingredients is 1.7X as compared to Europe’s per capita spending on plant protein ingredient which is around US$ 6. Moreover, per capita spending by these regions is projected to grow by more than 20% in next three years
- Pea protein and soy protein are gaining traction as compared to other plant protein ingredients across the globe owing to increased applications in nutrition.
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The following facts are some of the information utilized in the study of the global markets for plant protein ingredients:
People’s global consumption patterns are changing.
Numerous challenges, possibilities, and factors are driving the global market for plant protein ingredients.
Everyone needs fresh revenue streams in a field that is becoming more global.
Characteristics of involvement and degree of competition among the leading businesses in the industry
Technological and business innovations that take into account COVID-19’s effects on the market and how the pandemic might affect the market’s potential future growth.
Geographic segmentation is used to analyse the revenue and anticipated future growth of the market for plant protein ingredients.
There has been a significant decrease since last year. greater interest in demand for Plant Protein Ingredient Market detection.
How Can Fact.MR Help You Make Strategic Decisions?
The information in the market study on plant protein ingredients offers in-depth analysis of significant industry trends. Market participants can use this information to develop original business strategies and generate impressive revenue in the near future. The study looks at price patterns, a value chain analysis, and different products provided by competitors in the market. The primary goals of this study are to aid in company planning and data-driven decision-making.
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