Global Plant Protein Market By Product (Wheat Protein, Soy Protein, Pea Protein, Others), Form (Protein Isolates, Protein Concentrates, Textured Proteins), Application (Bakery, Meat Extenders and Substitutes, Nutritional Supplements, Beverages, Snacks, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Plant Protein Market
Global plant protein market is expected to register a substantial CAGR of 6.8% in the forecast period of 2019-2026. Increasing awareness towards adverse effects of red meat, resulting in shift towards plant-based substitutes is the major growth factor for the growth of this market. The report contains data of the base year 2018 and historic year 2017.
Market Definition: Global Plant Protein Market
Proteins are essential nutrients that the human body needs, consisting of amino acids. These proteins are known as plant proteins when acquired from plant-based foods such as wheat, soy, and others. Many crops provide elevated protein content such as chickpeas, tofu, peanuts, lentils, almonds, quinoa, spirulina, and chia seed. Because plant-based proteins have a reduced calorie count, animal-based protein can be replaced with weight loss.
- Increasing demand of vegan diet will boost the growth of plant protein market
- Innovative product line of ready-to-eat product with no compromise in taste and texture may be the driving factor for growth of the market
- High demand in food & beverage products such as bakery products, meat alternatives, cereals, snacks, and nutritional supplements among others will fuel the market growth
- Consumers are slowly becoming aware about preventive healthcare due to growing number of online forums and magazines that offer lifestyle and diet will boost the market growth
- Presence of alternative source (red meat and eggs) for protein may hamper the growth of plant protein market growth
- Plant proteins have a reduced content of essential amino acids in comparison to animal proteins may hamper the growth of the market
- Fluctuation in availability of raw material will retrain the market growth
Segmentation: Global Plant Protein Market
- Wheat Protein
- Soy Protein
- Pea Protein
- Protein Isolates
- Protein Concentrates
- Textured Proteins
- Meat Extenders and Substitutes
- Nutritional Supplements
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In April 2018, Kerry, Inc. has acquired Ojah which is a Dutch manufacturer of plant proteins and its processing technique. The company commercialese a process of texturing vegetable protein with the help of clean label High Moisture Extrusion (HME) technology. Kerry strengthen its plant protein portfolio with this acquisition
In September 2017, Nestlé USA acquired Moss Landing, CA, from Sweet Earth, a factory food producer. On-going products from Sweet Earth include worldwide flavors and plant proteins, such as seitan (wheat-based) and tofu. They are serving three main platforms, entrees, breakfast and plant-based proteins, called Righteous Meats. By this acquisition Nestlé secured its position in emerging market.
Global plant protein market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plant protein market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global plant protein market are Cargill Incorporated, Archer Daniels Midland Company, EZAKI GLICO CO., LTD., Ajinomoto Co., Inc., Axiom Foods, Inc., E.I. Du Pont de Nemours and Company, Glanbia plc, Growing Naturals, LLC, Kerry Inc., Conagra Brands, Inc., CP Kelco U.S., Inc., Corbion NV, FMC Corporation, Acadian Seaplants Limited, Gelymar, Ocean Harvest Technology Limited, Roullier Group among others.
Research Methodology: Global Plant Protein Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Food Manufacturers, Food Specialists, Research Laboratories, Group Purchasing Organizations, Associations, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global plant protein market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)