Rising Adoption of Veganism Fuels Plant-Based Protein Industry Growth

The plant-based protein industry is projected to rise in the coming years, due to growing intolerance to rising customers' expenditure, growing awareness of healthy plant-based food, and intolerance to animal protein.

Under the source segment, the soybean category captures the significant plant-based protein industry share. It is led by soybeans serving as ideal proteins and fat source, with high fiber advantages to digestive health.

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Therefore, there is a huge demand for soybean to manufacture protein products. They are also considered meat substitutes. In addition, such proteins are utilized for numerous food applications, such as dairy replacers, nutritional bars, emulsion-type sausages, and nutritional bars. In addition, they are utilized as nutritional ingredients in aquaculture, livestock feed, and pet food products.

Under the form segment, the dry category captures a substantial share of the industry. It is led by dry food products' ease of handling, and convenience to cook. In addition, millennials prefer dry plant-based protein products due to their low calories, and fat content in them, compared to animal proteins. That is why they are highly preferred by athletes and fitness trainers.

Under the application segment, the food category experiences faster growth in the industry in the coming future. It is led by growing vegan food products demand, rising health & wellness trends, along with changing lifestyles of people.

Under the type segment, the textured category is projected to experience the fastest growth in the industry. It is led by high nutrients, along with fiber and protein present in the textured proteins. It is also beneficial for the heart's health, and protection against heart disease and stroke.

In addition, the rising demand for meat substitutes to reduce animal killings boosts the demand for textured protein. For example, each year, over 9 billion animals are killed on factory farms, as per Animal Legal Defense Fund, U.S.

North America is projected to capture an extensive share of the industry in the coming future, led by the consumers' transition toward plant-based foods. It is caused by the massive focus of people on sustainability, personal health, food safety, immunity, and animal welfare. In addition, with the technological advancements, and new experiments in the food and beverage sector, plant-based protein usage dominates the region.

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APAC is predicted to experience significant growth in the plant-based protein industry, in the coming future. It is ascribed to the alterations in the customers' eating habits, as well as rising concern for the environment, health, and ethical issues. Therefore, people are massively adopting a vegan lifestyle, resulting in rising plant-based food product consumption.

Increasing customer spending, and improving the quality of life of people are major factors contributing to increasing plant-based protein usage. The rising consumer expenditure, coupled with growing awareness among consumers on the significance of a vegan diet for a healthy lifestyle lures investments in plant-based food products.

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This release was published on openPR.