Plant Based Protein Market Size, Trends, Growth Opportunity and Analysis 2023-2028

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Plant based protein represents the protein obtained from various plants instead of animals or fish.

IMARC Group, a leading market research company, has recently releases report titled Plant Based Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 The study provides a detailed analysis of the industry, including the global plant-based protein market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is the Market Prediction for Plant Based Protein?

Report Attributes

Details

Growth rate (2023 to 2028)

CAGR of 7.4%

Base Year of the Analysis

2022

Forecast Period

2023-2028

What is Plant Based Protein?

Plant based protein represents the protein obtained from various plants instead of animals or fish. Some popular sources include soy, nuts, seeds, tofu, pulses, grains, tempeh, seitan, oat, quinoa, rice, and peas. Plant based protein products are typically lower in saturated fats than animal proteins and contain high fiber and essential nutrients, such as probiotics, vitamins, minerals, antioxidants, etc. They help to reduce the risk of cardiovascular disorders, type 2 diabetes, cancer, osteoarthritis, osteoporosis, and Alzheimers disease. Plant based protein items even contain phytochemicals, which assist in lowering weight, preventing obesity, and promoting gut health. Consequently, they are in extensive demand across the globe.

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What Are the Growth Prospects and Trends in the Plant Based Protein?

The emerging trend of veganism across countries and the escalating health consciousness among consumers are primarily driving the plant based protein market. Besides this, the shifting preferences from animal-based products to plant-based foods and beverages and the growing focus on sustainable living and reducing dependence on animal protein, on account of the increasing concerns regarding animal cruelty, are acting as significant growth-inducing factors. Furthermore, the inflating investments by leading manufacturers in research and development (RD) activities for launching innovative plant-protein-enriched products to cater to the needs of the expanding vegan population are also positively influencing the global market. Apart from this, the introduction of ready-to-drink plant-based protein supplements and the rising inclination for clean-label products are further stimulating the market growth. Moreover, the elevating adoption of pea protein owing to its gluten-free, allergen-free, and lactose-free properties are expected to bolster the plant based protein market over the forecasted period.

Who Are the Key Players Operating in the Plant Based Protein Industry?

The competitive landscape of the plant-based protein market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • AGT Food and Ingredients
  • Archer-Daniels-Midland Company
  • Axiom Foods Inc.
  • Cargill Incorporated
  • Dupont De Nemours Inc.
  • Glanbia plc
  • Ingredion Incorporated
  • Kerry Group plc
  • Koninklijke DSM N.V.
  • Roquette Frres
  • Tate Lyle PLC
  • The Scoular Company
  • Wilmar International Limited.

What is Included in Market Segmentation?

The report has categorized the market based on source, type, nature, application and region.

Breakup by Source:

  • Soy
  • Wheat
  • Pea
  • Others

Breakup by Type:

  • Concentrates
  • Isolates
  • Textured

Breakup by Nature:

  • Conventional
  • Organic

Breakup by Application:

  • Food
    • Meat Alternatives
    • Dairy Alternatives
    • Bakery Products
    • Performance Nutrition
    • Convenience Foods
    • Others
  • Feed

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key Highlights of The Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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