Plant-Based Protein Revolution: A Market Poised for Explosive Growth Fueling the Future of Food

Plant-based Protein Market Assessment worth $ 21.57 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Plant-based Protein Market- by Source (Soy, Wheat, Pea, and Others), Type (Isolates, Concentrates, and Textured), Form (Dry and Liquid), Deployment Mode (Foods and Beverage, Animal Feed, Nutrition and Health Supplements, and Pharmaceuticals), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Plant-based Protein market is valued at US$ 12.90 Billion in 2021, and it is expected to reach US$ 21.57 Billion by 2030, with a CAGR of 6.20% during a forecast period of 2024-2031.

Plant-Based Proteins: A Growing Powerhouse in Food and Nutrition
Protein, the building block of life, plays a critical role in the human body. From enzymes and hormones to tissues and bones, protein is essential for various bodily functions. Plant-based proteins, derived from sources like soy, peas, and wheat, are gaining significant traction as alternatives to animal-derived proteins.

Applications and Benefits:
• Food and Beverage: Plant-based proteins are extensively used in the food and beverage industry to create meat substitutes, protein-fortified beverages, and various culinary applications. Their versatility allows them to be incorporated into a wide range of dishes.

• Nutritional Value: Plant-based proteins offer a valuable source of nutrition, often being supplemented into beverages and dietary products. This caters to health-conscious consumers who seek alternative protein sources.

Market Drivers:
• Health Concerns: Growing awareness about health and the potential benefits of plant-based diets are driving consumer preference for these protein sources.

• Sustainability: Environmental concerns regarding animal agriculture are leading some consumers to choose plant-based proteins, seen as a more sustainable option.

A Look Ahead:
The plant-based protein market is poised for continued growth, fueled by:
• Product Innovation: The development of new and improved plant-based protein products with better taste and texture is attracting a wider consumer base.

• Nutritional Focus: As consumers become more knowledgeable about nutrition, the focus on protein variety and complete amino acid profiles in plant-based options will drive innovation.

Conclusion:
Plant-based proteins are no longer a niche market but a powerful force in the food and nutrition industry. Their versatility, health benefits, and sustainability factors make them a compelling choice for consumers and food manufacturers alike. The future of plant-based proteins is bright, with continued innovation promising even greater variety and nutritional value for consumers.

The market for plant-based proteins is expanding as a result of factors including an increase in the number of health-conscious consumers, an increase in the number of consumers who are lactose intolerant, increased consumer awareness of the advantages of plant-based proteins, investments and collaborations in the industry, and an expanding number of applications for plant-based proteins.

Another factor anticipated to help the market's revenue growth is the nutraceuticals sector's rapid expansion. Growing consumer demand for functional foods, dietary supplements, and nutraceuticals is expected to significantly boost the industry's growth and, in turn, the market for plant-based proteins. However, problems with digestion and other illnesses are a substantial barrier to the market's expansion in terms of revenue.

Similarly, some plant-based proteins, such as soy protein and its powder, include phytates that reduce the body's ability to absorb minerals. This could result in health issues related to a mineral deficit. Additionally, the isoflavones in soy behave as goitrogens, which can impair thyroid function and thus alter hormone synthesis.

North America is anticipated to be the major contributor to the plant-based protein market over the forecast years. Because of the industry's fast growth and surge in food manufacturers. Since Canada is the world's top producer and exporter of peas, food producers have the chance to buy peas at a constant price and use them to make pea protein. The United States is also the world's second-largest producer of soybeans, which has significantly increased demand for them as a substitute protein source.

In addition, the Europe plant-based protein market is expected to grow considerably during the forecast period. The rapid expansion of food producers with a reliable and sustainable supply chain is anticipated to fuel market expansion. The market in the region is also anticipated to see revenue growth due to growing awareness of healthy eating habits, including diets high in protein and a general preference shift toward organic and vegan food products.

Major market players operating in the Plant-based Protein market include Kerry Group, Cargill Inc., Glanbia plc., Wilmar International, Emsland Group, Puris, Cosucra Group, AMCO Proteins Company, Batory Foods, Roquette Freres, Ingredion Inc., Burcon Nutracience, Sotexpro, AGT Food & Ingredients, Beneo, Prolupin Gmbh, Aminola, Herblink Biotech Corporation, Archer Daniels Midland Company, DSM, E.I. Dupont De Nemours and Company, ET Chem, Shandong Jianyuan Group, The Greenlans LLC, Parabel, Corbion NV, Danone, Farbest Brands, Axiom Foods Inc., NOW Foods, Tate & Lyle Plc, Crespel & Deiters GmbH & Co. KG, CHS Inc., and Other Prominent Players.

Recent collaborations and agreements in the market:
• In April 2022, Cargill (US) recently announced the expansion of its Radipure pea protein product portfolio to Turkey and the Middle East to satisfy the growing demand for pea protein as a substitute source of protein in these countries, Indian and African markets.

• In July 2021, To expand its production capacity and meet the rapidly growing global demand for plant-based proteins, Sojaprotein (Serbia) was purchased by ADM (US), one of the leading producers of plant-based proteins in Southern Europe.

• In September 2020, ADM (US) introduced Prolite MeatXT and Prolite MeatTEX, two types of textured and non-textured wheat proteins that increase the density and texture of meat replacements. With the release of this product, ADM completed its line of textured soy, wheat, and pea proteins.

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Market Segments
Global Plant-based Protein Market, by Source, 2022-2030 (Value US$ Mn)
• Soy
• Wheat
• Pea
• Others

Global Plant-based Protein Market, by Type, 2022-2030 (Value US$ Mn)
• Isolates
• Concentrates
• Textured

Global Plant-based Protein Market, by Form, 2022-2030 (Value US$ Mn)
• Dry
• Liquid

Global Plant-based Protein Market, by Deployment Mode, 2022-2030 (Value US$ Mn)
• Foods and Beverage
• Animal Feed
• Nutrition and Health Supplements
• Pharmaceuticals

Global Plant-based Protein Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Plant-based Protein Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Plant-based Protein Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Plant-based Protein Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Plant-based Protein Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Plant-based Protein Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Plant-based Protein market
 To receive an industry overview and future trends of the Plant-based Protein market
 To analyze the Plant-based Protein market drivers and challenges
 To get information on the Plant-based Protein market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Plant-based Protein market industry

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