North America Plant Based Protein Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: North America Plant Based Protein Market

North America plant based protein market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.8% in the forecast period of 2021 to 2028 and is expected to reach USD 10,191.50 million by 2028.  Increasing demand of plant based proteins in food and beverages industry is a major driver for the plant based protein market.

Proteins are the essential nutrient required by the human body. They help in making enzymes, hormones and other body chemicals. It is the important building block of cartilage, bones, muscles, blood and skin. Plant based proteins are manufactured using plant based sources such as soy, pea, wheat among others and are further processed to make a final product. It is also considered as a substitute for animal sourced proteins. They have extensive applications in food & beverages industry and animal feed industry. These plant based proteins comes in various forms and they are used as a meat replacer in several food applications. The plant based proteins are used in beverages to add extra nutritional benefits of plant-based proteins such as chick peas, and pea protein among others. These proteins are used in various food products because of their nutritional content. Thus, various health conscious people are turning towards the plant based proteins.

The factors driving the growth of the plant based protein market are increase in number of health conscious consumers, rise in population with lactose intolerant consumers, increase in awareness about the benefits of plant based proteins, investments & collaborations in the plant based proteins business and the growing usage of plant based proteins in various applications.

However, the factors restraining the growth of the plant based protein market are the higher costs of proteins and use of GMO and allergy associated with it.

This North America plant based protein market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

North America Plant Based Protein Market Scope and Market Size

North America plant based protein market is segmented into seven notable segments based on source, protein concentration, level of hydrolisation, form, nature, function and application.

• On the basis of source, the North America plant based protein market is segmented into soy protein, wheat protein, pea protein, canola protein, potato protein, rice protein, corn protein, oat protein, flaxseeds protein, hemp protein, quinoa protein, chia protein and others. In 2021, soy protein segment is expected to dominate the market due to the high fiber content that aids in the weight loss.
• On the basis of protein concentration, the North America plant based protein market is segmented into concentrate, isolate and hydrolysate. In 2021, isolate segment is expected to dominate the market in the plant based protein market as isolate is the containing the enhanced protein content.
• On the basis of level of hydrolisation, the North America plant based protein market is segmented into intact, mildly hydrolized, and strongly hydrolized. In 2021, mildly hydrolized segment is expected to dominate the market in due to high digestibility of the form.
• On the basis of form, the North America plant based protein market is segmented into dry and liquid. In 2021, dry segment is expected to dominate the market as it can be used for a longer period of time for various food preparations.
• On the basis of nature, the North America plant based protein market is segmented into organic and conventional. In 2021, conventional segment is expected to dominate the market due to the ease of manufacturing compared to the organic products.
• On the basis of function, the North America plant based protein market is segmented into solubility, gelation, emulsification, water binding, foaming and others. In 2021, emulsification segment is expected to dominate the market due to the stabilizing activity in the food preperations.
• On the basis of application, the North America plant based protein market is segmented into food & beverages and animal feed. In 2021, food and beverages segment is expected to dominate the market due to the increasing vegan trend among the consumers.

Plant Based Protein Market: Country Level Analysis

The North America plant based protein market is analysed and market size information is provided by country, source, protein concentration, level of hydrolisation, form, nature, function and application as referenced above.

The countries covered in the North America Plant based protein market report are U.S., Canada and Mexico.

U.S. is dominating the North America region in global plant protein market with the highest CAGR and the highest market share due to increase in the vegan trend among the consumers.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America plant based protein brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Rising Demand of Plant Based Protein in Food Industry

North America plant based protein market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in plant based protein and changes in regulatory scenarios with their support for the plant based protein product market. The data is available for historic period 2010-2019.

Competitive Landscape and North America Plant Based Protein Market Share Analysis

North America plant based protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, India presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the plant based protein market.

Some of the major players operating in the North America plant based protein market are market DSM, Sotexpro, Batory Foods, Glanbia Plc, AGT Food and Ingredients, Axiom Foods, Inc, Prolupin GmbH, ADM, Wilmar International Ltd, Emsland Group, Cargill, Incorporated, DuPont, Ingredion Incorporated, Roquette Frères, The Green Labs LLC, PURIS and Shandong Jianyuan group among others.

Many expansions are also initiated by the companies worldwide which are also accelerating the growth of North America plant based protein market.

For instance,

• In June 2020, Roquette Frères and la Prairie collaborated with Canada’s Protein Industries for joint R&D project which will help Canada’s plant protein ecosystem to advance. This will help company to lead and expand its research and development, skills development and the capacity for the value-chain by boosting technical compatibility of collaborative research organizations and working on new plant proteins product development

Collaboration, joint ventures and other strategies by the market players is enhancing the company footprints in the plant based protein market which also provides the benefit for organisation in its growth pace.

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