Plant-Based Protein Market Outlooks 2019: Market Size, growth rate, Market Segmentation Top Key Players: Cargill, Incorporated (The U.S.), Archer Daniels Midland Company (The U.S.) etc.

Plant-Based Protein Market Snapshot:

Protein is an essential nutrient and a building block of body tissues. Chicken, beef, mutton, soya, tofu, and milk are some of the most common sources of protein. In recent times, plant-based protein has been gaining more attention compared to animal-based as it is considered healthier by consumers. Soy, wheat, pea, chia seeds, beans, quinoa, nuts, seeds, oats, broccoli, and lentils are some of the common sources of plant-based protein. Food and beverage manufacturers are increasingly incorporating plant-based proteins in their products to meet the increasing demand for more wholesome foods rich in a plethora of nutrients. The key application of plant-based protein is food products.

Plant-based protein has been used in and nutraceuticals for a long time. But the inclusion of plant-based protein in beverages and foods and convenience foods such as protein bars has come in the picture in recent times, after the popularity of bodybuilding and fitness trends. The product is still between the introductory and growth phase in several regions. While plant-based protein is in the growth phase in North America and Europe, it remains in the introductory phase in Asian countries such as India and China.

Protein is the building block for muscles; it is an essential nutrient responsible for the growth, repair, and maintenance of the body. Rising health consciousness has seen people educating themselves about the nutritional value of different foods. And people are increasingly striving to consume balanced meals rich in all essential nutrients, which is driving the consumption of plant- and animal-based protein. But an increasing number of consumers are opting for plant-based proteins to reduce their carbon footprint.
The fitness trend has gained significant traction. It is particularly evident among millennials. Social media platforms such as Instagram and Facebook bolster this trend as influencers and celebrities often post about their fitness regimes, influencing followers to stay in shape.

The growing vegan population is demanding plant-based food products, which drive the growth of the plant-based protein market. Plant-based proteins are mainly targeted to the vegan population as they refrain from consuming animal- or dairy-based protein. The growing vegan population, mostly in western countries, is expected as a key consumer of plant-based protein. As per The Vegan Society, in 2017, around 6,000 products were registered with the vegan trademark and in the consecutive year, the range grew by 65% with a total of 9,590 products.

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The Major Prominent Players Covered in this Report:
Cargill, Incorporated (The U.S.), Archer Daniels Midland Company (The U.S.), Glanbia, Plc (Ireland), Kerry Group plc (Ireland), DuPont de Nemours, Inc. (The U.S.), Axiom Foods, Inc. (The U.S.), Gemef Industries, Greenway Organics (Tianjin) Co. Ltd., BENEO GmbH, Aminola, Royal Ingredients Group, Farbest Brands, The Green Labs LLC, Vestkorn Milling AS, Now Health Group Inc., Prolupin GmbH, A&B Ingredients & More.

Other players operating in the plant-based protein market are Tate & Lyle PLC (The U.K.), Ingredion Incorporated (The U.S.), Burcon NutraScience Corporation (Canada), Royal DSM N.V, (The Netherlands), Sotexpro S.A. (France), and The Scoular Company (U.S.). Manufacturers of plant-based protein are adopting differential strategies such as collaboration, business expansion, innovation, and acquisition to strengthen their foothold in the competitive market. A large number of manufacturers operate in North America and Europe.

By Source, Soy, Wheat, Pea, Others (Beans, Nuts, Seeds, Oats, and Quinoa)
By Type, Isolates, Concentrate, Protein Flour By Interface, Visual, Acoustic, Mechanical

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Plant-Based Protein in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Plant-Based Protein market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Plant-Based Protein and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Plant-Based Protein. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Use of Plant-Based Proteins in Diet Supplements -
Plant-based protein is increasingly finding applications in industries such as food and beverage, nutraceutical, diet supplement, pharmaceutical, and others. It is also used in convenience foods such as protein bars. But the demand for the product is relatively high from the diet supplement manufacturers.

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Key Questions Answered in The Report:
What will the Plant-Based Protein market growth rate?
What are the key factors driving the global Plant-Based Protein market?
Who are the key manufacturers in the Plant-Based Protein market space?
What are the market opportunities, market risk, and market overview of the Plant-Based Protein market?
What are sales, revenue, and price analysis of top manufacturers of the Plant-Based Protein market?
Who are the distributors, traders, and dealers of the Plant-Based Protein market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Plant-Based Protein Industry?
What are sales, revenue, and price analysis by regions of Plant-Based Protein industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

What’s Next?
Growth in the meat alternative sector -
Roquette Frères, a France-based company and global leader in specialty foods and nutritional ingredients, announced on December 2, 2019, that it plans to expand its range of premium plant-based proteins for the meat alternative sector

Addition of plant-based proteins in beverages -
In December 2019, the famous Kerry Group launched a new plant-based protein ingredient that can be used in low-pH beverage applications such as energy drinks, juices, and waters

Key Plant-Based Protein Market Trends:
- The report identifies, determines, and forecasts the Global Plant-Based Protein Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Plant-Based Protein Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Plant-Based Protein Market.

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