Plant Protein Market

Global Plant Protein Market Size (2024 to 2029):

Global Plant Protein Market size was valued at US$ 12.34 billion in 2024 and is predicted to increase to US$ 17.55 billion by 2029, with a CAGR of 7.3% during 2024-2029.

Plant proteins, notably globulins, have traditionally been derived primarily from high-protein grain and legume seeds. This category includes essential amino acids, vegan protein, Soy Protein Isolate, and hydrolyzed wheat protein. Protein concentrations in plant-based proteins range from 50 to 85 per cent, making them suitable for vegan and vegetarian diets. Customers are increasingly turning to vegetarian cuisine because of its tremendous health benefits. As a result, the product's use and demand have increased. Aside from that, the sector is being propelled forward by the usage of plant protein in beverages, animal feed, infant food, and dietary supplements. Product introductions, development, and collaboration are all critical components of market expansion. Environmental and animal welfare concerns are still motivating considerations for adopting a plant-based lifestyle, but they aren't the driving drivers, according to study. To improve their health and well-being, many people are moving to plant-based proteins. Plant-based diets have been shown in studies to help prevent obesity, stroke, and heart disease, as well as lower cholesterol and arthritis pain, improve energy and mental clarity and lower blood sugar.

Global Plant Protein Market Drivers:

Furthermore, plant-based protein foods are an excellent way to keep your digestive system in check since they contain a healthy amount of fiber, which helps to reduce bowel movements and the risk of gut inflammation.

Furthermore, according to a study released in 2016 by the Academy of Nutrition and Dietetics, those who consume more plant-based nutrients had a lower chance of chronic health problems and diseases such as ischemic heart disease, type 2 diabetes, hypertension, cancer, and obesity.

Consumer preferences are shifting toward a more nutritional diet focusing on a more sustainable lifestyle and less reliance on animal proteins, as seen by changing consumer preferences.

Consumers are shifting from traditional animal-based products to organic and plant-based food products as an optimum dietary solution, according to a significant percentage of the millennial generation in Western countries. Consumer acceptance of plant-based foods and beverages has increased in recent years as a result of a wider range of product availability, enhanced product development, and innovation in plant-based proteins. Therefore, these factors further increase the growth of the global plant protein market during the forecast period.

Global Plant Protein Market Restraints:

The allergies associated with plant-based protein sources act as the major factor in hampering the global plant protein market growth during 2022-2027. Plant-based foods and beverages have functional health advantages and contain critical minerals; nevertheless, certain sources, such as soy and wheat, have been recognized as allergies, prompting cautious consumer acceptance. Soybeans have a high nutritious profile, including vitamins, minerals, and proteins; however, anti-nutritional components in soy may trigger allergic reactions.

Soy, wheat, and pea are some of the most popular plant-based protein sources and are mostly produced in the United States, Brazil, Canada, India, and China. These countries also account for a significant share of consumer demand for plant-based foods and beverages. Farmers, on the other hand, frequently develop genetically modified (GM) crops to suit the growing demand for various plant-based protein sources, which is often viewed negatively by consumers. To that end, non-GMO soybeans are generally consumed by humans, whereas GM soybeans are mostly used in livestock feed. However, farmers are concentrating their efforts on non-GMO soybean cultivation, resulting in greater production costs and, as a result, lower sales margins which may further hinder the global plant protein market growth in the next six years.

Impact of COVID-19 on Global Plant Protein Market:

Because to COVID-19's interaction with animal sources, a large portion of the population will choose plant-based proteins over animal proteins for a variety of health and environmental reasons. Furthermore, unlike red meat, which is labour-intensive, plant proteins are less labour-intensive, making them less subject to staffing shortages. This promotes the growth of plant-based proteins.

REPORT COVERAGE: 

This research report on the Global Plant Protein Market has been segmented and sub-segmented based on source, type, form, application & region.   

Global Plant Protein Market - By Source:

• Soy
• Wheat
• Pea

Based on the source, soy is anticipated to dominate the global plant protein market during 2022-2027. Soy proteins, such as soy protein meat, soy protein isolate nutrition, soy protein powder, and soy protein estrogen, contain fewer carbs than soy protein meat, soy protein isolates nutrition, soy protein powder, and soy protein estrogen, and are available on the market as soy protein meat, soy protein isolates nutrition, soy protein powder, and soy protein estrogen. It has applications in the food and beverage (F&B) industry as well as the nutraceutical additives sector. Because soy protein is used in a variety of foods, such as cheese, drinks, miso, tempeh, tofu, salami, and vegetarian meat substitutes, the soy lecithin market's growth prospects are driving up soy protein usage in the food and beverage industry.

Global Plant Protein Market - By Type:

• Concentrates
• Isolates
• Textured

During the forecast period, the isolated sector is expected to expand at the fastest revenue CAGR. Isolates are the purest form of protein products, with a higher protein concentration. They are easily digestible and can be used in a variety of culinary items. Protein isolates have been made from a range of legumes, including soy, pea, and canola, as well as rice and oats. It has a high protein content as well as color, flavor, and functional qualities, making it a great raw ingredient for beverages, infant foods, children's foods, and other specialty foods.

Global Plant Protein Market - By Form:

• Dry
• Liquid

Based on form, the dry plant-based protein industry is expected to dominate the plant-based protein market. Protein concentrates are made utilizing a dry protein processing method. It comprises reducing the particle size of raw material to fine particles using dry milling technology. Pulses and cereals are processed using this method, which is linked to their tissue architecture and grinding behavior. Differential particle sizes and densities within the milled flour are used in the process. The air classification method separates the tiny protein rice pieces from larger starch-rich granules or fiber-rich granules after they've been milled.

Global Plant Protein Market - By Application:

• Food & Beverages
• Animal Feed
• Supplements
• Others

Based on application, food sector attributes for the largest plant protein market share in the next six years. Consumer tastes are shifting as people become more aware of meat procurement procedures, environmental effect, and animal-borne diseases. As a result, more people are avoiding meat intake. Consumer demand has shifted away from traditional animal-based proteins and toward plant-based alternatives as a result of this transition. The expanding vegan trend has resulted in an increase in the number of companies offering vegan products.

Global Plant Protein Market - By Region:

• North America 

• Europe 

• Asia-Pacific 

• Latin America 

• Middle East and Africa 

The Global Plant Protein Market Report includes the segmentation of Regions:

The North American market accounted for the biggest share because of investments in product producers and processing units, the North American area has been a major driver of market expansion. The region is a major producer of a variety of commodities, including soy, wheat, and pea, and its combined output dominates the global export market.

Asia Pacific, on the other hand, is expected to exceed all other areas, with a CAGR of 6.9% .The most prospective markets for plant-based protein are thought to be in Asia. Veganism is getting more popular in these markets as well. The growing popularity of veganism is moving the plant-based protein market in the Asia Pacific region ahead.

Europe

Latin America

Middle East & Africa

KEY MARKET PLAYERS:

Key Market Players of Plant Protein Market are Archer Daniels Midland Company, DuPont de Nemours Inc, Kerry Group, The Scoular Company, Roquette Freres, Royal Avebe UA, PURIS, Cargill Incorporated, Cooke Inc, Costantino & C. SpA.

RECENT HAPPENINGS IN THE MARKET:

• DuPont Nutrition & Health has introduced a perfect solution for producers of snacks, cereals, nutrition bars, toppings, and more, with plant-based diets, protein, and healthy snacking as three blooming trends in the food and beverage sector. Six new plant protein nuggets from its SUPRO and TRURO product lines are available in a wider range of forms and textures, with more protein and less sodium than previous offers.
• ADM celebrated the opening of its new cutting-edge plant-based innovation center, which is housed in ADM's Biopolis research hub in Singapore, on April 22, 2021. To fulfil expanding food and beverage demand in the Asia-Pacific area, the lab will produce next-level, on-trend, and healthful goods.
• ADM, a global leader in nutrition and agricultural origination and processing, said that its purchase of Sojaprotein, a prominent European manufacturer of non-GMO soy components, was completed on November 29, 2021.