Plant-based Protein Market owing to the increasing focus of health-conscious consumers in finding alternatives for animal-based foods

According to Precision Business Insights (PBI), latest report, the plant-based protein market size was valued USD 12,568.5 million in 2022 and is poised to grow at an 5.6% CAGR from 2023 to 2029. The primary factors that drive the market are the growing trends for veganism, rising health consciousness, and increasing demand for plant-based protein in the market.

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Isolate Protein to Dominate the Plant-based Protein Market:
Based on forms type, isolate protein holds the highest market share. The major factor for the rise of this segment is that the use of isolate plant-based protein eradicates the need of animal-based protein to lowers down the plant-based protein . For most vegan population, isolate plant-based protein is the real solution to consume protein, increase the demand and people are shifting towards veganism is the major factor of driving. These factors can drive the Plant-based Protein Market growth.

The plant-based protein market is segmented based on source, form, application, end-user, and geography.
Based on the source, the market is segmented into the following:
• Soya
• Wheat
• Pea
• Others

Based on the forms, the market is segmented into the following:
• Isolate
• Concentrates
• Hydrolysates

Based on the application, the market is segmented into the following:
• Nutritional products
• Bakery
• Supplement
• Cereals
• Diary
• Deserts
• Other

Based on the end user, the market is segmented into the following:
• Animal feed
• Food and Beverages
• Personal care
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific Plant-based Protein Market
Asia Pacific region is expected to grow significantly over the forecast period. China, India and Japan are the emerging market for the protein supplements as compare to other regions, increase in veganism leads to increase in the demand for plant-based protein in the region.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Plant-based Protein Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

Key players profiles in the plant-based protein market report are; ADM, Cargill, DuPont, Wilmar International Ltd, Roquette Frères, Glanbia plc, Kerry Group PLC, DSM, Ingredion, and Emsland Group

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This release was published on openPR.