Opportunities in the Global Plant Based Protein Market: Growing CAGR of 10.2% Forecast with Market Set to Reach $25.4 Billion in 2028

The Plant Based Protein market is said to witness significant growth during the forecast years between 2021 and 2028. The global plant-based protein market is predicted to grow from USD 11.2 Billion in 2020 to USD 25.4 Billion by 2028, while rising at a CAGR of 10.2% during the forecast period. This is accredited to the increasing use of pea protein in the food industry and several novel inventions used for the extraction of plant-based protein. In 2020, North America accounted for the maximum growth in the said market.

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Report Scope in detail:

This latest report edition of Plant Based Protein market has been added to our huge database of detailed reports and this envisions to shape the future of all the related businesses. Our team of learned research analysts has studied in-depth and curated the report based on several aspects which include the overview of the market, driving forces, growth rate, market trends, market size, opportunities, and challenges of the market; along with detailed competitive analysis on the regional as well as global level. The Plant Based Protein market research report renders a thorough analysis of the market on a global aspect and aims at several market segmentation. This report also provides a deeper perception of the latest trends of the market and pinpoints crucial product developments of the industry. Furthermore, the report collects numerous factors that have accredited to the growth of the market in recent years.

Market Dynamics:

• Considering the growing health and wellness trend across the world, the global plant based protein market is said to accelerate during the forecast period.
• There is a persistent demand for plant based protein from the food and the beverage industry and this is one of the key market driving forces.
• In the past few years, there has been a significant increase in the consumers focusing on meat alternatives, which is promoting the market further.
• Due to the fastest-growing nutritional movement wherein consumers are opting for soy-free or gluten-free products. This may be a hindrance to the global market in the coming years.
• During the forecast period, Asia Pacific is anticipated to grow at a higher CAGR, this is owing to the region’s increasing protein enriched diet awareness, ascending technological advancements in food and beverage industry, etc.

Plant Based Protein Supplements Market Segmentation:

By Type

• Soy Protein
• Pea Protein
• Wheat Protein
• Canola Protein
• Rice Protein
• Potato Protein
• Corn Protein
• Others

By Crop Type

• Genetically Modified Organism (GMO) crops
• Non-GMO crops

By Source Process

• Organic Plant-Based Protein Ingredients
• Non-Organic/Conventional Plant-Based Protein Ingredients

By Application

• Food and Beverages
• Animal Feed
• Nutrition & Health Supplements
• Pharmaceuticals
• Others

Regional Coverage

• North America
o United States
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Spain
o Russia
o Rest of Europe

• Asia Pacific
o China
o India
o Japan
o Korea
o Australia
o Southeast Asia
o Rest of Asia-Pacific

• South America
o Brazil
o Argentina
o Colombia
o Rest of South America

• Middle East & Africa
o GCC
o South Africa
o Rest of Middle East & Africa

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Competitive Analysis:

Eminent market players have been outlined in order to extract improved insights into worldwide businesses. Our research reports offer all-inclusive information on various topmost manufacturers that are operational across global regions. We provide company profiles that include a detailed overview of the company, business information, business performance, crucial strategies implemented through the years.

Few of the Key Players Covered in Our Report:

• Archer Daniels Midland Company (ADM)
• Wilmar International
• Emsland Group
• Cargill
• Ingredion
• DuPont
• Roquette Frères
• PURIS
• Kerry Group
• Burcon NutraScience Corp.
• Sotexpro
• Glanbia
• DSM
• Axiom Foods
• Prolupin GMBH
• Aminola
• Shandong Jianyuan Group
• The Green Labs LLC

Impact of COVID19:

The COVID19 pandemic crippled the global economy, it resulted in a worldwide lockdown and this has majorly impacted numerous industries. Our industry experts are working round-the-clock to identify, accumulate and in-time deliver market analysis due to the effect of unprecedented decisions in COVID-19 repercussions on many businesses. The full version of this report will comprise the overall impact of the pandemic, and predicted alteration on the future outlook of the industry, by taking into account the economic, political, technological, and social parameters.

Contact:
Sharon Smith
Gravitas Market Insights
US: +1 888 298 9289
Email: sharon@gravitasmarketinsights.com

Gravitas Market Insights is a go-to market research company which provides credible market intelligence with actionable insights. We wouldn’t shy away in stating that we have a firm grip on the pulse of the global markets. We truly believe that along with the rapidly changing business surroundings and fast twists in the economic cycle, many aspects are unheeded. Gravitas is an independent source for all the market research needs of businesses within a snap of a finger. With the help of technology, a huge amount of data is produced which is waiting to be patterned and analysed.

This release was published on openPR.