Plant-Based Protein Market Predicted to Achieve USD 22.5 Billion Mark by 2032 | Future Market Insights

The global plant-based protein market enjoyed a year-on-year (YOY) growth of 6.7% in 2021 to total sales of USD 11.3 Bn and is projected to surpass USD 22.5 Billion in 2032 at a CAGR of 7.2%, according to a market analysis performed by Future Market Insights.

Because of the food and beverage industry's increasing efficiency, several new opportunities will present themselves for the market for plant-based proteins. According to the type of protein they contain, the global market for plant-based proteins is divided into soy, wheat, pea, potato, rice, canola, corn, and other product classes. The soy protein category is anticipated to account for the largest share of the global market for plant-based proteins.

According to the survey, people are being influenced to choose a healthy lifestyle by the rising prevalence of health problems like diabetes, hypertension, and obesity. As a result, there is a rise in demand for dietary supplements and functional food sources that contain plant-based proteins.

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Demand for Preventative Healthcare, Especially Due to the Recent Outbreak of Deadly Viruses to boost growth

The vast majority of people are conscious of the benefits of preventative care and are worried about their health. A wide range of publications and websites, including Livestrong.com, bodybuilding.com, Men's Health magazine, and Shape magazine, provide guidance on diet and way of life, and they often update their information in this area. Producers of natural ingredient-based protein are offering a range of items through a variety of channels, including web portals, magazines, and advertising campaigns, to create demand for products enhanced with plant protein.

The main focus of these companies' strategies is on developing new drugs with enhanced safety, efficacy, and health advantages such the ability to reduce cholesterol, blood pressure, and body weight. This is expected to aid in the local market's expansion.

Additionally, customers are paying more attention to the food they eat. They may have different opinions about the food they eat as a result of rumours associating the coronavirus to the eating of meat and meat protein. This will likely lead to a rise in the demand for plant-based protein in the upcoming years.

Who is winning?

Some of the major players in the plant-based protein that are covered in this report are Glanbia Plc, Archer-Daniels Midland Co., Roquette Freres, Cargill Incorporation, Burcon Nutrascience Corporat, E.I. du Pont de Nemours & Co, Cosucra Groupe Warcoing, Ingredion Inc, and CHS Inc, AGT Food & Ingredients, Inc.

These market players have a strong networked and secure clientele with main focus on increasing its product offering and portfolio with complete solutions to its customers including production, formulation of blend, packaging and transportation as well.

In addition to this, market players are more into mergers and acquisition to improve their product offering. Companies intend to expand their regional footprint through strategic collaborations.

In February 2017, Glambia Plc acquired two companies - Body & Fit and Grass Advantage LLC protein ingredient manufacturers in the U.S. and Netherlands respectively. Both the company have a strong tactical fit with Glanbia's Performance Nutrition (GPN) division and will prolong its reach to wider channels and new consumers.
In August 2017, Archer Daniels Midland Company expanded its line of plant-based functional extracts by including an antioxidant blend, green tea, and acerola for application in a wide variety of food, drinks, and supplement applications

In March 2017, Cargill started production of pea protein ingredients through partnership with World Food Processing, which is a multi-generation, family-owned business based in Oskaloosa, U.S., that has developed non-bioengineered/non-GMO pea seed varieties to minimize off-flavors

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-PLANT-BASED PROTEIN MARKET SEGMENTATION

The global Plant-based protein Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

-Product Type:
Soy Protein
Wheat Protein
Pea Protein
Others

-Form:
Isolates
Concentrates
Hydrolysates

-Nature:
Organic
Conventional

-Application:
Nutritional Products
Sports Nutrition
Medical Nutrition
Infant Nutrition
Bakery
Snacks & Cereals
Dairy
Confectionary and Dessert
Convenience Food
Beverages
Animal Feed
Others

-Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

-Frequently Asked Questions
How much is the plant-based protein market currently worth?
At what CAGR is the market expected to grow?
How was the performance in the last five years?
What are the key trends boosting Plant-based protein sales?
How are market players reacting to the new developments in the market?
Which is the largest segment by type?
Which are the major countries driving demand for plant-based protein?
Who are the major players in the Plant-based Protein Market?
At what level does the report reflect pricing analysis?

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.