Global Green Plant-Based Proteins Market – Industry Trends and Forecast to 2029

Global Green Plant-Based Proteins Market By Source (Soy, Wheat, Pea and Others), Application (Protein Beverages, Dairy Alternative, Meat Alternatives, Protein Bars, Nutrition Supplements, Processed Meat, Poultry and Seafood, Bakery Products and Plant-Based Proteins), Type (Isolates, Concentrates and Protein Flour) – Industry Trends and Forecast to 2029

Market Analysis and Size

Protein supplements are popular among gym-goers and fitness enthusiasts because they help with muscle growth, metabolism, energy levels, heart health, and weight management. Furthermore, dietary supplement sales are increasing during the coronavirus pandemic because the supplements help comb or enhance the immune system against COVID-19, according to an article published by Nutrition Outlook.

Data Bridge Market Research analyses that the green plant-based proteins market was valued at USD 44.2 billion in 2021 and is expected to reach the value of USD 113.41 billion by 2029, at a CAGR of 12.50% during the forecast period of 2022-2029.  

 Market Definition

Plant-based proteins are important muscle building blocks, with protein concentrations ranging from 50% to 85% and ideal for vegan and vegetarian diet plans. They are derived from plants like wheat, pea, soy, and wheat. Plant-based proteins are used in dairy substitutes, protein beverages, meat substitutes, protein bars, poultry and seafood, bakery, food, sports nutrition, and other applications, where they improve nutritional and functional properties.

Market size and segmentation

Plant-Based Proteins Market Dynamics

Drivers

• Rising cases of obesity as well as increasing public awareness

Plant protein market growth is being aided by a modified high moisture extrusion process and a new compositional research process. Consumers who do not consume dairy products, for example, are turning to plant-based milk options, which have seen significant growth in recent years. This innovative product line or ready-to-eat products with no compromise on texture and taste is also boosting the growth of the plant-based proteins market.

• Rise in social media marketing

The growing millennial population and increased social media marketing will further boost many opportunities, leading to the growth of the plant-based protein supplements market during the forecast period. The rising celebrity endorsements and promotion for the benefits of consuming plant-based diets will further add to the market growth.

Opportunity

The growing number of fitness centres and increased female participation are expected to fuel the market's growth. Plant-based proteins are environmentally friendly. As consumers become more aware of the properties of plant-based proteins, they are also adopting environmentally friendly and allergen-free products. Increase growth demand in allergen-free market will create growth opportunities in the forecast period

Restraints

The availability of low-cost substitutes, negative publicity, and side effects will impede the growth of the plant-based proteins market during the forecast period. Vegetarians consume plant-based proteins, but allergies in consumers, such as lactose intolerance, will act as a restraint, further challenging the growth of the in the green plant based proteins market in the forecast period.

This plant-based proteins market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plant-based proteins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Plant-Based Proteins Market

The COVID-19 outbreak has put tremendous strain on the functional food and nutraceutical industries. Several frontline workers, including doctors, nurses, other medical professionals, hygiene workers or sweepers, and others, are working hard to stop the spread of the novel coronavirus. To combat the disease, government agencies have advised citizens to eat a healthy and nutritious diet. This is expected to increase demand for plant-based protein supplements, which promote the body's good health and optimal functioning by providing essential nutrients. Plant-based protein supplements are necessary for the growth and repair of human cells and tissues. Plant protein is beneficial for weight loss in addition to providing the building blocks for healthy muscles and tissues.

Recent Development

• Danone announced the commercial availability of its Vega One plant-based protein products in China in May 2020, with the Vega One Sport aimed at athletes. This product contains a variety of proteins derived from various sources, such as pumpkin seeds, alfalfa, sunflower seeds, and peas.
• Burcon NutraScience Corporation announced a joint venture partnership with an investor group in May 2019 to construct a new C$65 million pea-protein and canola-protein commercial production facility in Western Canada. Burcon's Peazac and Peazazz pea proteins, as well as Nutratein, Puratein, and Supertein canola proteins, will be delivered by the plant.
• Roquette Frères Le Romain announced in June 2018 that it would invest €40 million in its Vic-sur-Aisne facility to increase pea processing capacity and respond to a rapidly growing global demand for pea protein.

Global Plant-Based Proteins Market Scope

The plant-based proteins market is segmented on the basis of source, application and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Soy
• Wheat
• Pea
• Others

Application

• Protein Beverages
• Dairy Alternative
• Meat Alternatives
• Protein Bars
• Nutrition Supplements
• Processed Meat
• Poultry and Seafood
• Bakery Products
• Plant-Based Proteins

Type

• Isolates
• Concentrates
• Protein Flour

Plant-Based Proteins Market Regional Analysis/Insights

The plant-based proteins market is analysed and market size insights and trends are provided by country, source, application and type as referenced above.

The countries covered in the plant-based proteins market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the plant-based proteins market due to rising vegan diet awareness and brand campaigning on social media platforms, whereas Asia-Pacific is expected to grow from 2022 to 2029 due to growing urbanisation, rising disposable income, and increased spending on the development of natural ingredients.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Plant-Based Proteins Market Share Analysis

The plant-based proteins 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plant-based proteins market.

Some of the major players operating in the plant-based proteins market are:

• Glanbia plc. (Ireland)
• Now Health Group, Inc. (U.S.)
• Nutiva Inc (U.S.)
• The Simply Good Food Co (U.S.)
• Iovate Health Sciences International Inc. (Canada)
• MusclePharm Corporation (U.S.)
• Kerry Group Plc (Ireland)
• CytoSport, Inc. (U.S.)
• The Nature's Bounty Co. (U.S.)
• Reliance Vitamin Company, Inc. (U.S.)
• Herbalife Nutrition, Inc. (U.S.)
• Danone SA (France)
• General Nutrition Centers (GNC) Holdings, Inc. (U.S.)
• Orgain Inc. (U.S.)
• True Nutrition (U.S.).