Global Plant-based Protein Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type (Isolates, Concentrates, Protein Flour), Application (Protein Beverages, Dairy Alternatives, Meat Alternatives, Protein Bars, Processed Meat, Poultry & Seafood, Bakery Product), Source (Soy, Pea, Wheat, Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Updated On: January, 2024
ID: 8786
Pages: 175

Global Plant-based Protein Market Size (2024 to 2029)

The global plant-based protein market size was worth USD 18.49 billion in 2023. The global market size is estimated to grow at a CAGR of about 14.1% from 2024 to 2029 and be worth USD 46.56 billion by 2029 from USD 24.08 billion in 2024.

The plant protein market includes protein ingredients obtained from plants as a source. The items considered are produced by organizations that have their obtainment framework and homesteads as a piece of the agribusiness unit. The new compositional research and altered high-dampness expulsion process are helping the development of the plant protein market. For instance, plant protein-based chocolates that are liberated from creature protein compensate for a decent interest in the market for purchasers who don't expend dairy. Plant-based milk has watched a noteworthy development lately, with an expanding number of individuals going without dairy choices. This inventive product offering of the prepared-to-eat item with no trade-off in taste and surface has supported the global plant-based protein market.


The growing incidence of intolerance for animal protein is majorly propelling the growth of the global plant-based protein market.

The National Institute of Allergy and Infectious Diseases uncovered that 90% of food sensitivity is brought about by eggs, milk, fish, red meat, soy, and nuts. Because of animal protein sensitivities, a large portion of meat buyers is slanted toward meat substitutes made of veggie lover protein, which eventually drives the plant protein market. As indicated by the reference rundown of allergen information assortment, the allergen from chicken meat ranges from 0.5-5% in Southern Europe. Pea protein, previously perceived as a total protein with the essential amino acid profile, contains egg-like potential that can be joined into a few egg-based items, similar to pasta, vermicelli, cakes, and treats. As indicated by the United States Centers for Disease Control and Prevention, 12.2 million individuals are experiencing food hypersensitivity, of which 66% is related to egg sensitivity.

The rising awareness regarding the advantages of protein and developing interest in protein-rich eating regimens, growing emphasis among people on wellbeing and health patterns, increasing attention on meat options by consumers, rising demand from the food and beverage industry and the progressions in ingredient advancements such as microencapsulation are fuelling the growth rate of the global market. Plant-based proteins are mostly used in applications like meat alternatives. According to the latest research conducted by key players and local governments, it has been observed that consumers are looking for meat alternatives to reduce their meat consumption. This has resulted in a decline in the demand for meat. For example, pea proteins are gradually used as an alternative by the manufacturers of processed meat, which results in more profits.

The growth of the plant-based protein market is further driven by the growing number of item dispatches, extensions, and ventures by significant players, buyers eliminating meat utilization and receiving plant-based proteins, nutritional benefits offered by plant-based food, and expanding inclination of buyers for the reception of a veggie lover diet.


On the other side, a noteworthy inclination for Animal-based protein and fluctuating crude material costs are hindering the growth of the global market.




Market Size Available

2023 to 2029

Base Year


Forecast Period

2024 to 2029



Segments Covered

By Type, Application, Source and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Cargill Inc, Archer Daniels Midland, DuPont, Kerry Group, Glanbia PLC, Tate & Lyle PLC, Ingredion Inc, Burcon NutraScience Corp, Axiom Foods, Royal DSM N.V., Sotexpro S.A. and Others.



Global Plant-based Protein Market Analysis By Type

Based on type, the isolates segment dominated the market and accounted for 46.7% of the global market share in 2023. The isolates segment is also estimated to be the fastest-growing region among all and showcases a CAGR of 9.08% during the forecast period. Protein isolates comprise a considerable amount of protein and improve digestibility in individuals. Isolates are finding huge demand in protein and nutrition-oriented products, such as sports nutrition, protein drinks, and dietary supplements. In the last few years, isolates have been demanded more by athletes, bodybuilders, and vegetarians, and have gained extensive application in various beverages and dairy products, due to their different functional properties.

The concentrates segment captured a substantial share of the global market in 2023 and is predicted to grow at a CAGR of 7.44% during the forecast period. The growing usage of plant-based protein concentrates in various food products such as snacks, beverages, and meat substitutes is propelling the expansion of the concentrates segment in the global market.

Global Plant-based Protein Market Analysis By Application

Based on application, the dairy alternatives segment emerged as the largest segment in 2023, holding 31.7% of the global market share in 2023. The domination of the dairy alternatives segment is majorly attributed to the rising emphasis among consumers to go against animal cruelty and the increasing adoption of dairy alternatives such as plant-based milk, cheese, and yogurt.

The meat alternatives segment is another leading segment and held a considerable share of the worldwide market in 2023. The meat alternatives segment is anticipated to showcase a CAGR of 15.5% during the forecast period.

Global Plant-based Protein Market Analysis By Source

Based on the source, the soy segment held 40.9% of the global market share in 2023 and stood as the most dominating segment among all in the worldwide market. The soy segment is also expected to dominate the global plant-based protein market throughout the forecast period. The growth of the soy segment is majorly driven by the mounting popularity and demand for a high-protein diet among consumers. Soy protein is proven to reduce cholesterol levels and cancer risk and improve metabolism, bone mineral density, and others. Soy protein isolates are mostly used in applications like nutritional bars, bakery products, meat alternatives, sports nutrition products, and drinks.

The pea segment is anticipated to grow at a CAGR of 11.88% during the forecast period owing to the growing use of pea protein in various food and beverage applications.


North America emerged as the top-performing region in the global plant-based protein market in 2023 and held 38.6% share of the worldwide market in 2023 and the domination of the North American region in the global market is estimated to continue throughout the forecast period. The interest in plant proteins is developing at a quick rate, inferable from a change in the way of life, absence of adjusted dietary admission, and improved R&D, so as to grow new sorts of plant-protein advanced items. The United States keeps on catching the most significant piece of the pie for plant protein, trailed by Canada and Mexico. The interest in handled and low-cholesterol foods has made it ready for the plant-based protein market, in the locale. These days, purchasers are changing to other elective items, for example, green-name food items, combined with bringing issues to light of sound and plant-based items, because of an expansion in the accessibility of fraudulent items in the market.

Asia-Pacific was the second largest regional segment in the global market in 2023 with 28.8% of the worldwide market share. The Asia-Pacific is the most attractive regional market for plant-based protein and is expected to grow at a promising CAGR of 12.28% during the forecast period. The growing trend of vegetarianism and veganism, especially in countries like India and China is majorly driving the Asia-Pacific market growth. China is the largest market for plant-based protein in Asia Pacific, followed by India and Japan.

Europe is a noteworthy regional segment in the global market and is expected to grow at a CAGR of 7.78% during the forecast period. Factors such as the growing awareness among consumers regarding health and environmental issues, increasing adoption of vegan and flexitarian diets and supportive government regulations promoting plant-based foods are propelling the plant-based protein market growth in Europe. Germany is the leading player in the European market for plant-based protein.


Companies such as Cargill Inc, Archer Daniels Midland, DuPont, Kerry Group, Glanbia PLC, Tate & Lyle PLC, Ingredion Inc, Burcon NutraScience Corp, Axiom Foods, Royal DSM N.V. and Sotexpro S.A. are playing a dominating role in the global plant-based protein market.

Cargill, ADM, Kerry Group, DuPont Danisco, and Glanbia, are the leading players in the global plant-based protein market. These companies implement strategies like expansions, mergers and acquisitions and product launches. To gain a competitive edge in terms of revenue, organizations are investing more in innovative products, with the aid of new plant proteins like hemp and chia. As of late, ADM (US) extended its geographic impression in Brazil with the development of another soy protein creation complex in Campo Grande, MatoGrossodoSul, Brazil, at an estimation of USD 250 million. The intricate will make a scope of functional protein focuses and secludes for ADM's present product offering.


  • In May 2019, Canada's BurconNutraScience Corporation propelled new pea and canola protein mixes. The firm likewise reported going into a joint dare to assemble a C$65 million pea-protein and a canola-protein business creation office.
  • In January 2019, Amazing Grass propelled another "Stunning Protein Glow", an option in contrast to creature inferred collagen supplements.
  • In March 2018, Naked Nutrition propelled matcha protein powders related to ALS Association organization.


This research report on the global plant-based protein market has been segmented and sub-segmented based on type, application, source and region.

By Type

  • Isolates
  • Concentrates
  • Protein Flour

By Application

  • Protein Beverages
  • Dairy Alternatives
  • Meat Alternatives
  • Protein Bars
  • Processed Meat
  • Poultry & Seafood
  • Bakery Product

By Source

  • Soy
  • Pea
  • Wheat
  • Others

By Region

  • North America
    • The United States
    • Canada
    • Rest of North America
  • Europe
    • The United Kingdom
    • Spain
    • Germany
    • Italy
    • France
    • Rest of Europe
  • The Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • New Zealand
    • Southeast Asia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of LATAM
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Lebanon
    • Jordan
    • Cyprus

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Frequently Asked Questions

What can be the size of the global Plant-based Protein market by 2028?

By 2028, it is predicted that the global Plant-based Protein market can reach a valuation of US$ 40.58 billion.

What can be the compound annual growth rate of the global Plant-based Protein market?

The global Plant-based Protein market can expand with a CAGR of 14.1% during the forecast period.

Mention the major key players in the global Plant-based Protein market?

Cargill Inc, Archer Daniels Midland, DuPont, Kerry Group, Glanbia PLC, Tate & Lyle PLC, Ingredion Inc, Burcon NutraScience Corp and Others.

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