DUBLIN--(BUSINESS WIRE)--The "Plant-Based Protein Global Market Report 2022: By Type, Source, Form, and Application" report has been added to ResearchAndMarkets.com's offering.
The global plant-based protein market is expected to grow from $13.18 billion in 2021 to $14.58 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The market is expected to reach $21.29 billion in 2026 at a CAGR of 9.9%.
Major players in the plant-based protein market are Archer Daniels Midland Company (ADM), DuPont Nutrition & Biosciences, Axiom Foods Inc., Cargill, Kerry Group, Ingredion Incorporated, Roquette Freres, Wilmar International Limited, Glanbia Plc, Cosucra Groupe Warcoing SA, Sotexpro, Emsland Group and PURIS Foods.
The plant-based protein market consists of sales of proteins by entities (organizations, sole traders, and partnerships) that are derived from plant-based sources. Plant-based proteins are becoming more popular as meat substitutes because they are highly nutritious and include nutrients such as fiber, vitamins, and minerals in addition to proteins.
The main types of plant-based protein are isolates, concentrates and textured. Plant-based protein isolates are consumed in an isolated form after being chemically extracted into a powder from the whole food. Plant-based proteins are derived from various sources such as soy, wheat, pea, others and are available in both dry and liquid forms. It is used in feed, food and other applications.
North America was the largest region in the plant-based protein market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Plant-based meat substitutes are gaining significant popularity in the plant-based proteins market. Plant-based meat alternatives are the priority of major companies operating in the plant-based proteins sector attributing to various benefits such as being ecologically friendly, aiding in weight loss, preventing chronic illnesses, and regulating cholesterol and blood sugar levels.
For instance, in July 2021, Nature's Fynd, a US-based company which develops microbe-based proteins for meat and dairy substitutes has raised over $158 million in funds for the launch of its meatless breakfast products including patties, burgers, chicken-less nuggets, and others. Additionally, according to the Plant-Based Foods Association, the alternative foods sector exploded in 2020, increasing U.S. retail sales by 27% and boosting the entire market value to $7 billion.
The increasing awareness of health and wellness is expected to propel the growth of the plant-based protein market during the forecast period. Plant-based proteins are good for weight loss and provide building blocks for healthy muscles and tissues. They are high in fiber and contain lower amounts of calories & fats than animal protein.
For instance, according to a poll by E times in 2021, the COVID-19 pandemic has transformed Indians' attitudes toward health, with 70% saying they would prioritize food and lifestyle adjustments in 2021 to manage both physical and emotional health. Therefore, the increasing awareness of health and wellness drives the growth of the plant-based protein market.
Key Topics Covered:
1. Executive Summary
2. Plant-Based Protein Market Characteristics
3. Plant-Based Protein Market Trends And Strategies
4. Impact Of COVID-19 On Plant-Based Protein
5. Plant-Based Protein Market Size And Growth
5.1. Global Plant-Based Protein Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Plant-Based Protein Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Plant-Based Protein Market Segmentation
6.1. Global Plant-Based Protein Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Isolates
- Concentrates
- Textured
6.2. Global Plant-Based Protein Market, Segmentation By Source, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Soy
- Wheat
- Pea
- Others
6.3. Global Plant-Based Protein Market, Segmentation By Form, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Dry
- Liquid
6.4. Global Plant-Based Protein Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Feed
- Food
- Others
7. Plant-Based Protein Market Regional And Country Analysis
7.1. Global Plant-Based Protein Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Plant-Based Protein Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Companies Mentioned
- Archer Daniels Midland Company (ADM)
- DuPont Nutrition & Biosciences
- Axiom Foods Inc.
- Cargill
- Kerry Group
- Ingredion Incorporated
- Roquette Freres
- Wilmar International Limited
- Glanbia Plc
- Cosucra Groupe Warcoing SA
- Sotexpro
- Emsland Group
- PURIS Foods
For more information about this report visit https://www.researchandmarkets.com/r/yr9mls
