Wednesday, January 26, 2022

Plant-based protein market to be valued at US$22.7 billion by 2031, TMR study finds

Albany, NY, January 12, 2022 /PRNewswire/ — The global plant-based protein market is expected to attract growth at a CAGR of 5.7% during the forecast period from 2021 to 2031, says a study by Transparency Market Research (TMR).

The emergence of the COVID-19 outbreak has highlighted the importance of a good immune system. Thus, health conscious population across the world is adopting healthy and protein rich diet. This factor is driving the demand for plant based proteins. Hence, players in the plant-based protein market are shifting their focus to strengthen their online and offline distribution channels to meet the increasing demand for products such as pea protein, wheat protein and soy protein during the coronavirus pandemic.

The plant based protein market is expected to be driven by the expansion of the eCommerce industry. In addition, many industry leaders are strengthening their online presence to attract more consumers. Such efforts are leading to revenue-generating opportunities in the global plant-based protein market.

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Plant Based Protein Market: Key Findings

  • The increasing inclination of people around the world towards the consumption of vegetarian and vegan diets instead of various animal-based food including meat, milk, meat products and other animal-based products is creating high demand for plant-based proteins, which is a major important factor. provide nutrients. and essential amino acids for the human body. This factor is driving the sales potential in the global plant-based protein market.
  • There is an increasing number of patients suffering from various lifestyle health issues like diabetes, heart disease, obesity, high blood pressure and other diseases across the world. The increasing inclination among this patient pool towards adopting healthy lifestyle and nutritional food products is creating promising business prospects in the plant based protein market.

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Plant-Based Protein Market: Growth Booster

  • The increasing demand for alternatives to animal-based food products due to increased awareness of animal welfare in many developing countries is fueling sales in the plant-based protein market.
  • The trend of vegetarianism is anticipated to increase to create revenue generation opportunities in the market during the forecast period.
  • Government bodies in many countries around the world are promoting the consumption of plant protein. This factor is increasing the way of trading in the market.

Plant Based Protein Market: Regional Analysis

  • North America Plant-based proteins are a major segment holding 48.4% of the market. this market North America Estimated to expand at a CAGR of 5.6 per cent during the forecast period and achieve a valuation of US$ 10.97 billion till 2031.
  • Expansion of North America The plant based protein market can be attributed to a number of factors such as busy lifestyle, increasing trend towards taking dietary supplements, and increased adoption of plant based products among the regional population.

Plant Based Protein Market: Competition Scenario

  • Plant-based protein producers are focusing on expanding their production capabilities to meet growing demand for the product
  • Many companies have been seen increasing investments in R&D projects to develop innovative products
  • Companies are using merger, acquisition and partnership strategies to achieve regional expansion as well as strengthen their product portfolio

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Plant Based Proteins Market: Major Players

Some of the key players covered in the report include:

  • Battery Foods
  • AGT Food & Ingredients, Inc.
  • Archer-Daniel Midland Company
  • AG Processing Inc.
  • Berkon Nutrascience Corporation
  • Biopress SAS
  • CHS Inc.
  • Cargill Inc.
  • Crown Soy Protein Group
  • Cosucra Groupe Warcoing
  • Ei du Pont de Nemours and Co.
  • Devonsoy Inc.
  • Glenbia Plc
  • Fuji Oil Holdings Inc.
  • Ingredient Inc.
  • Gushen Group Co., Ltd.
  • Shandong Yuwang Ecological Food Industry Co.,Ltd
  • roquette brothers
  • Wilmar International Limited
  • The Scholar Company

Plant Based Protein Market Segmentation

Product Type

  • soy protein
  • Wheat Protein
  • pea protein
  • other

Form

  • Separate
  • focus on
  • other

application

  • Supplements & Nutrition Powders
  • drink
  • Protein & Nutrition Bars
  • Bakery & Snacks
  • breakfast cereal
  • meat products
  • dairy products
  • infant nutrition
  • animal feed
  • other

areas

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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About transparency market research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and a variety of tools and techniques to collect and analyze information.

Our data repository is constantly updated and revised by a team of research experts, so that it always reflects the latest trends and information. With extensive research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing specific data sets and research materials for business reports.

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