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Global Plant Protein Market Growth Outlook 2021-2029: Vegan Diet and Sustainable Lifestyle Preferences Drive the Market

·4-min read

Dublin, Sept. 08, 2021 (GLOBE NEWSWIRE) -- The "Plant Protein Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.

The plant protein market is expected to grow at a compound annual growth rate of 9.5% during the forecast period.

Plant protein market growth is being fueled by rising consumer preference for vegan diets and a healthy, sustainable lifestyle. This report covers all the quantitative and qualitative aspects of the plant protein market and also focuses on key drivers, restraints, challenges, and growth opportunities in the present market, and future prospects.

According to the National Institute of Allergy and Infectious Diseases, eggs, milk, fish, and red meat account for the vast majority of food allergies. Because of animal protein sensitivities, most meat consumers prefer meat alternatives comprised of vegan protein, which boosts the plant protein market. With more attention being paid to the precise forms of protein consumed, consumer interest in plant protein intake is increasing. Protein as a food-nutritional component is in high demand due to increased population and welfare. The high-protein diet trend is gaining popularity and will continue to do so in the future years. Protein's benefits in maintaining a healthy lifestyle have become increasingly well recognized. Plant proteins are gaining popularity as a result of consumer demand for a clean diet, ease of digestion, the requirement or desire to avoid allergens, compatibility with vegetarian and vegan diets, and general concerns about sustainability. As a result, the global plant-based protein market is growing due to increased interest in plant protein ingredients among food manufacturers and foodservice operators.

The market has been segmented based on the type, source, application, and region. Based on the source segment, the plant protein market is divided into soy, wheat, pea, potato, oat, chickpea, hemp, and algae. The soy source segment held the highest proportion of the plant protein market in 2019. Soy proteins help lower cholesterol levels, enhance metabolism and bone mineral density, and reduce the risk of cancer. Furthermore, they supply vital amino acids for human nutrition. Soy proteins are utilized in a variety of culinary products, including meat substitutes, frozen desserts, soups, salads, non-dairy creamers, breakfast cereals, newborn formula, cheese, whipped cream, pasta, bread, and pet meals. Based on application, the market is divided into food and beverage, animal feed, and supplements.

The food and beverage industry dominated the plant protein market. The large share of this segment is mainly attributable to the high demand for sustainable products from consumers, growing awareness of the health benefits of plant protein, increased public health concerns over animal products and ingredients, increased vegan population, and a clean diet.

For the year 2019, North America dominated the plant protein market, accounting for more than 37% of the total market share. The region's two largest economies are the United States and Canada, which together account for a significant portion of the market. The demand for alternative protein types that are sustainable and clean, with less environmental impact during production, is driving sales of these proteins in North America. Furthermore, growing awareness of vegan proteins, particularly among adults, is boosting the market growth in the region.

To improve the taste, flavor, appearance, and nutritional value of bakery products, meat alternatives, dairy alternatives, processed foodstuffs, confectioneries, drinks, juices, and other products, food and beverage manufacturers in the region are experimenting with using healthy ingredients in the bakery products, meat alternatives, dairy alternatives, processed foodstuffs, confectioneries, drinks, juices, and other products.

Key Topics Covered:

  • Plant Protein Market: Market Dynamics and Future Outlook

  • Plant Protein Market, By Type, 2019 - 2029 (US$ Mn)

  • Plant Protein Market, By Source, 2019 - 2029 (US$ Mn)

  • Plant Protein Market, By Application, 2019 - 2029 (US$ Mn)

  • Plant Protein Market, By Regional Market Analysis, 2019 - 2029 (US$ Mn)

  • North America Plant Protein Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)

  • Latin America plant Protein Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)

  • Europe Plant Protein Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)

  • Asia Pacific Plant Protein Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)

  • Middle East & Africa (MEA)Plant Protein Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)

Company Profiles

  • Archer Daniels Midland Company

  • DuPont de Nemours Inc.

  • Kerry Group

  • The Scoular Company

  • Roquette Freres

  • Royal Avebe UA

  • Pinnacle Foods

  • Cargill Incorporated

  • Puris

  • Herblink Biotech Corporation

For more information about this report visit https://www.researchandmarkets.com/r/y7h77z

About ResearchAndMarkets.com
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