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The Worldwide Plant-based Protein Industry is Expected to Reach $23.4 Billion by 2028 - ResearchAndMarkets.com

January 14, 2022 GMT

DUBLIN--(BUSINESS WIRE)--Jan 14, 2022--

The “Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

This report provides in-depth analysis of plant-based protein market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027.

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The Global Plant-Based Protein Market is expected to reach $23.4 billion by 2028, growing at a CAGR of 9.7% during the forecast period of 2021 to 2028.

The growth of this market is mainly attributed to the growing demand for protein-rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from the food & beverage industry, and various advancements in ingredient technologies such as microencapsulation are the key factors driving the growth of the plant-based protein market.

The study offers a comprehensive analysis of the global plant-based protein market with respect to type (soy protein {soy protein concentrates, soy protein isolate, textured soy protein, and soy flour, grits, chunks}, wheat protein {vital wheat gluten, wheat protein isolate, hydrolyzed wheat protein, and textured wheat protein}, pea protein {pea protein isolate, pea protein concentrate, and others}, canola protein, potato protein, rice protein, corn protein, and others), crop type (genetically modified organism crops and non-genetically modified organism crops), source process (conventional plant-based protein ingredients and organic plant-based protein ingredients), application (food and beverages {meat, poultry, & seafood; bakery; meat analog; dairy & dairy alternatives; cereals & snacks; beverages; and others}, animal feed, nutrition and health supplements, pharmaceuticals, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.

Key questions answered in the report-

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  • Which are the high growth market segments in terms of the type, crop type, source process, form, application, and countries?
  • What is the historical market for plant-based protein across the globe?
  • What are the market forecasts and estimates for the period of 2021-2028?
  • What are the major drivers, restraints, challenges, trends, and opportunities in the global plant-based protein market?
  • Who are the major players in the global market, and what share of the market do they hold?
  • Who are the major players in various countries, and what share of the market do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the global plant-based protein market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the global plant-based protein market, and how do they compete with the other players?

Market Dynamics

Drivers

  • Growing Demand for a Protein-Rich Diet
  • Growing Health and Wellness Trend
  • Increasing Focus on Meat Alternatives
  • Growing Demand from the Food and Beverage Industry
  • Advancement in Ingredient Technologies: Microencapsulation

Restraints

  • Preference for Animal-based Protein
  • Fluctuating Raw Material Prices

Opportunities

  • Increasing Inclination Towards a Vegan Diet
  • Emerging Economies
  • Increasing Intolerance for Animal Proteins

Challenges

  • Increasing Soy-Free and Gluten-Free Trend
  • Trends
  • Increase in Investments in the Plant-based Food Business

Companies Mentioned

  • Archer Daniels Midland Company
  • Cargill Incorporated
  • Roquette Freres Le Romain
  • Ingredion Incorporated
  • Kerry Group
  • DuPont de Nemours Inc.
  • Now Foods
  • Tate & Lyle PCL
  • Axiom Foods Inc.
  • AMCO Protein
  • Burcon NutraScience Corporation
  • BENEO GmbH
  • Glico Nutrition Co. Ltd
  • Glanbia plc
  • Cosucra Groupe Warcoing SA
  • Sotexpro
  • Farbest Brands
  • Crespel & Deiters GmbH & Co. KG
  • Wilmar International
  • CHS Inc.

Scope of the Report

Plant-based Proteins Market, by Type

  • Soy Protein
  • Soy Protein Concentrates
  • Soy Protein Isolates
  • Textured Soy Protein
  • Soy Flour, Grits, and Chunks
  • Wheat Protein
  • Vital Wheat Gluten
  • Wheat Protein Isolates
  • Hydrolysed Wheat Protein
  • Textured Wheat Protein
  • Pea Protein
  • Pea Protein Isolate
  • Pea Protein Concentrate
  • Others
  • Canola Protein
  • Potato Protein
  • Rice Protein
  • Corn Protein
  • Others

Plant-based Proteins Market, by Crop Type

  • Genetically Modified Organism Crops
  • Non- genetically Modified Organism Crops

Plant-based Proteins Market, by Source Process

  • Conventional Plant-Based Protein Ingredients
  • Organic Plant-Based Protein Ingredients

Plant-based Proteins Market, by Form

  • Solid (Dry)
  • Liquid

Plant-based Proteins Market, by Application

  • Food and Beverages
  • Meat, Poultry, & Seafood
  • Bakery
  • Meat Analogue
  • Dairy & Dairy Alternatives
  • Cereals & Snacks
  • Beverages
  • Others
  • Animal Feed
  • Nutrition & Health Supplements
  • Pharmaceuticals
  • Others

Plant-based Proteins Market, by Geography

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific (RoAPAC)
  • Rest of the World
  • Latin America
  • Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/6zin4m

View source version on businesswire.com:https://www.businesswire.com/news/home/20220114005339/en/

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KEYWORD:

INDUSTRY KEYWORD: RETAIL HEALTH FITNESS & NUTRITION AGRICULTURE NATURAL RESOURCES FOOD/BEVERAGE

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 01/14/2022 10:31 AM/DISC: 01/14/2022 10:32 AM

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