Rising demand for vegan and plant-based products and increase in health risks associated with meat consumption are key factors driving Plant-based Protein market revenue growth
Vancouver, Nov. 15, 2023 (GLOBE NEWSWIRE) — The global Plant-based Protein Market will be worth USD 22.07 Billion by 2032, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing preference for a vegetarian diet and the increasing vegan population. Increasing adoption of organic food in the food & beverage industry is expected to drive the demand for plant-based proteins. The rising prevalence of type 2 diabetes and cardiovascular diseases among the growing population is fueling the demand for plant-based protein products. Growing awareness about environmental sustainability, and rising preferences towards eating clean, has increased the demand for Plant-based protein products.
The uncertainty regarding allergies associated with plant-based protein might hamper the demand for the products. The absence of the 20 essential amino acids in plant-based proteins required for human growth and development is expected to restrain the demand for plant-based proteins.
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Scope of Research
|Market size value in 2019||USD 9.98 Billion|
|CAGR (2023 – 2032)||7.4%|
|Revenue forecast in 2032||USD 22.07 Billion|
|Base year for estimation||2022|
|Quantitative units||Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Form, Application, Source, region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; MEA|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||CARGILL, ARCHER DANIELS MIDLAND (ADM), DuPont, ROQUETTE FRÈRES, GLANBIA, WILMAR INTERNATIONAL, DSM, KERRY GROUP, EMSLAND GROUP, and INGREDION|
|Customization scope||10 hrs of free customization and expert consultation|
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MAJOR COMPANIES and Market Share Analysis
The Plant-based Protein Market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities. Some of the prominent players in the Plant-based Protein Market include:
- ARCHER DANIELS MIDLAND (ADM)
- ROQUETTE FRÈRES
- WILMAR INTERNATIONAL
- KERRY GROUP
- EMSLAND GROUP
In November 2019, DSM completely acquired CSK Food Enrichment for 150M euros. The acquisition of CSK food enrichment will help DSM to strengthen its product portfolio and enhance its expertise in the food & beverage industry.
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Key Highlights From The Report
- In April 2020, Royal DSM, a global science-based company in Nutrition, Health, and Sustainable Living, announced the complete acquisition of Glycom A/S, the leading supplier of Human Milk Oligosaccharides (HMO) in the world, for an enterprise value of € 765 million.
- The Dry form segment held the largest market share of 59.6% in 2019. The increasing R&D has resulted in advancements in biotechnology, and microbiology research activities are driving the growth of the segment.
- The Textured Protein segment accounted for the largest market share in 2019 due to the availability of textured soy products in the global nutrition industry. The high fiber content of the textured pea protein has increased its utilization in the production of dietary supplements.
- The Pea protein segment is forecasted to be the fastest-growing segment over the forecast period due to the rising consumer preference for pea-based protein and the nutritional benefits of the pea protein.
Browse the complete Global Plant-based Protein Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/plant-based-protein-market
Emergen Research has segmented the global Plant-based Protein Market on the basis of Type, Form, Application, Source, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Form Outlook (Revenue, USD Billion; 2019-2032)
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Food Ingredients
- Animal Feed
- Source Outlook (Revenue, USD Billion; 2019-2032)
- Others (Rice, Potato, Canola, and Oats)
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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About Emergen Research
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