Plant-based Protein Market Demand, Trends, Developments, Challenges  And Future Scope 2023 To 2029

Published April 13, 2023

Plant-Based Protein Market

The research provides important data on the worldwide Plant-based Protein Market’s manufacturers market state and is a great resource for businesses and people interested in the sector.

The Global Plant-based Protein Market at a CAGR of 7.5%, and it is expected to reach above USD 18.7 billion by 2028, over the forecast period.

Market Overview:

The Plant-Based Protein Market refers to the segment of the food industry that produces protein-rich foods derived from plant sources. Plant-based proteins are an alternative to animal-based proteins, and are increasingly popular among consumers who are looking for healthier, more sustainable, and ethical food options.

Plant-based protein can be found in a wide range of foods, including soy products, legumes, nuts, seeds, and grains. Some popular plant-based protein sources include tofu, tempeh, chickpeas, lentils, quinoa, and hemp seeds.

The plant-based protein market is expected to continue to grow, driven by increasing consumer awareness of the health and environmental benefits of plant-based diets. In addition, innovations in food technology and product development are making plant-based protein options more appealing to consumers.

Geographically, the North American and European markets are currently the largest for plant-based proteins, but the Asia Pacific region is expected to experience significant growth in the coming years.

Overall, the plant-based protein market is a dynamic and rapidly growing industry, driven by changing consumer preferences and a growing awareness of the health and environmental benefits of plant-based diets.

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The main competitors in the global Market are:
DSM (Netherlands), ADM (US), DuPont (US), Kerry Group (Ireland), Cargill (US), Glanbia (Ireland), Wilmar International (Singapore), Emsland Group (Germany), Puris (US), Cosucra Group (Belgium), Batory Foods (US), Roquette Freres (France), Ingredion (US), are some of the key players in Global Plant-based Protein Market.

Opportunities: Focus on aquatic plants as new & emerging sources of protein

The shift towards individualised diet has been significant as consumer health consciousness has increased. Consumers today are more aware of the food they eat and how it affects their bodies. Aquatic plants offer a huge opportunity to collect proteins and components that match the distinct physiological and metabolic needs of consumers in addition to soy, wheat, and pea, which are the main sources of plant-based protein.

Plant-based proteins are created naturally through a sequence of transformations in which different chemical elements come together to form a particular structure. The energy required for the process is provided by sunshine. The chlorophyll found in plants is a key component in this unusual process. Oceans and freshwater bodies including lakes, rivers, and marshes receive more than 70% of the sun energy. The water bodies found around the world provide a significant untapped resource of aquatic proteins that are suitable for human consumption and can be enhanced by cutting-edge aquaculture technology.

What Information does this report contain?  

Historical data coverage: 2017 to 2022;

Growth Projections: 2023  to 2028.

Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.

6-7year performance forecasts: major segments covering applications, top products and geographies.

Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Here are some recent developments in the plant-based protein market:

  • Partnerships and collaborations: Major food companies are partnering with smaller plant-based protein companies to expand their offerings in the market. For example, Nestle has collaborated with plant-based meat producer Impossible Foods to develop a plant-based burger, while Kellogg Company has partnered with pea protein producer Parabel to create plant-based meat alternatives.
  • Investment in plant-based protein startups: Venture capital firms and food companies are investing heavily in plant-based protein startups, with the aim of developing new and innovative products. In 2020, plant-based food startups raised more than $2.1 billion in funding globally.
  • Expansion of product lines: Many plant-based protein companies are expanding their product lines beyond meat alternatives to include dairy alternatives, such as plant-based milk, cheese, and yogurt. For example, Beyond Meat has recently launched plant-based chicken tenders and breakfast sausages, while Oatly has expanded its line of plant-based milk alternatives.
  • Focus on sustainability: Plant-based protein companies are increasingly focusing on sustainability and reducing their environmental footprint. Some companies are using regenerative agriculture practices to reduce soil erosion and improve soil health, while others are using packaging materials made from recycled or biodegradable materials.
  • New product development: Companies are continuing to innovate and develop new plant-based protein products. For example, Perfect Day has developed a plant-based whey protein that can be used in a range of products, including ice cream and protein bars, while Hooray Foods has developed plant-based bacon made from shiitake mushrooms.

Key Segments:

Plant-Based Protein Market by Type, 2023 -2028, (In USD Billion)

  • Isolates
  • Concentrates
  • Textured

Plant-Based Protein Market by Source, 2023 -2028, (In USD Billion)

  • Soy
  • Wheat
  • Pea
  • Other Sources

Plant-Based Protein Market by Form, 2023 -2028, (In USD Billion)

  • Dry
  • Liquid

Plant-Based Protein Market by Application, 2023 -2028, (In USD Billion)

  • Food
  • Meat, Poultry, And Seafood
  • Bakery Products
  • Meat Alternatives
  • Dairy & Dairy Alternatives
  • Cereals & Snacks
  • Beverages
  • Animal Feed

The research highlights important participants and manufacturers as well as the most recent tactics, including new product releases, collaborations, joint ventures, technology, segmentation of regional and industrial competitiveness, profit and loss ratios, and investment suggestions. a precise evaluation of efficient production and advertising methods, as well as market share, growth rate, size, revenue, and value chain analysis.

The “World Plant-based Protein Market Research Report” is an in-depth analysis of the global industry with a focus on the current situation of the global Plant-based Protein market. The research provides important data on the worldwide Plant-based Protein Market’s manufacturers market state and is a great resource for businesses and people interested in the sector.

Plant-based Protein Market regional market (regional production, demand and country forecast): –
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and more.

The research broadside examines the global market’s past, present, and future performance. The paper also examines the competitive environment at the moment, the dominant business models, and the probable advancement of offers from important companies in the upcoming years.

Key aspects of the report include:
– Comprehensive examination of the global Plant-based Protein market – Variable sector market dynamics.
– Market segmentation in depth.
– Sizes of the markets in terms of volume and value over time, both recent and future
– Latest changes and trends – Competitive Environment of the Global Plant-based Protein Market.
– Strategy and products offered by key players.
– Prospective Markets and Isolated Areas with Possible Growth
– A Comparative Analysis of Barcode Mobile Computers and the World Barcode-Scanner Market.

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Challenges: Concerns over quality of food & beverages due to adulteration of GM ingredients

One of the most common sources of plant-based proteins is soy, which is also widely grown in Brazil, the US, Argentina, China, and India. The demand for soy, wheat, and pea has increased along with the rise in consumer demand for plant-based food and beverages. Yet, adulteration with Genetically Modified (GM) substances constitutes an expanding hazard in order to meet the rising demand for various plant-based protein sources. For instance, GM soybeans are generally used in animal feed, whereas non-GMO soybeans are mostly used for human consumption. However, the manufacturing of non-GMO soybeans requires additional care and effort, which leads to higher cost consumption involved in earnings and lower profits.

Reasons To Buy Global Plant-based Protein Report:
1. Current and future outlook of the Global Plant-based Protein Market in developed and emerging markets.
2. Analysis of various market perspectives with the help of Porter’s five forces analysis.
3. The segment that should dominate the Global Plant-based Protein Market.
4. Regions that are expected to see the fastest growth during the forecast period.
5. Identifies the latest developments, global Plant-based Protein Market shares and strategies used by major market players.

Furthermore, the market Research affirms the major global players in the Global Plant-based Protein Market. Their key marketing strategies and advertising techniques have been highlighted to offer a clear understanding of the Global Market.

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