Plant-Based Protein Market Expansion Continues, with Forecast Valuation of $124.55 Billion by 2029

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Plant-Based Protein Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for plant-based proteins has seen remarkable expansion in the past few years. Over the span of a year, from 2024 to 2025, it's projected to swell from $52.08 billion to $64.38 billion, showing a compound annual growth rate (CAGR) of 23.6%. Factors behind this upswing during its historic period include heightened awareness around health and wellness, growing environmental sustainability concerns, a turn towards vegetarian and vegan diets, the broadening of the plant-based food and beverage industry, and a need for protein sources free of allergens and GMOs.

Plant-Based Protein Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for the plant-based protein market, as it's predicted to experience massive growth in the coming years. By 2029, it is forecasted to reach $124.55 billion, with a compound annual growth rate (CAGR) of 17.9%. This growth during the forecasted period can be linked to factors such as support from regulatory bodies and standards for labeling plant-based foods, an increase in consumer demand for natural ingredients and clean labels, penetration in emerging markets and middle-income countries, a rise in use within functional foods and nutraceuticals, as well as a growing interest in sports nutrition and performance-enhancing supplements. Key trends to watch during this period include improvements in protein extraction and processing technology, the emergence of hybrid and blended products, proteins that are cultivated and fermented, tailor-made protein solutions, and novel developments in dairy substitutes.

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What Are the Drivers Transforming the Plant-Based Protein Market?
The anticipated growth of the plant-based protein market is largely due to the rising consciousness about health and wellbeing. Plant-derived proteins, which are instrumental in promoting weight loss and supplying the necessary building blocks for fit muscles and tissues, are becoming increasingly popular. These plant proteins not only contain an abundance of fiber, but they have fewer calories and fat compared to animal-derived proteins. For example, data from the Office for National Statistics, a national statistics agency specializing in epilepsy in the UK, shows that the UK's healthcare expenditure in 2022 was roughly $354.88 billion (£283 billion), a nominal increase of 0.7% from 2021. Hence, the escalating consciousness about health and wellbeing stimulates the expansion of the plant-based protein market.

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What Long-Term Trends Will Define the Future of the Plant-Based Protein Market?
Leading firms in the plant-based protein sector are prioritizing the creation of groundbreaking products, such as the Meal Extender, to optimize nutritional content and elevate the taste perception of meat substitutes. A meal extender, an element included in a meal to expand its quantity or substance without dramatically changing its taste, has become a frequent addition to a variety of dishes. Ingredients such as grains, vegetables, or legumes feature commonly as meal extenders, contributing to cost reductions and an increase in meal portions. For example, in July 2024, Nestle, a food company based in Switzerland, introduced Maggi Rindecarne to enrich dishes by amalgamating it with regular minced meat. This plant-based meat extender, Maggi Rindecarne, works to enrich dishes when combined with conventional minced meat, delivering close to 5.2 g of protein per serving while maintaining a low fat content. This economical solution allows meal portions to double, making it a financially savvy choice for budget-minded customers.

Which Segments in the Plant-Based Protein Market Offer the Most Profit Potential?
The plant-based protein market covered in this report is segmented -

1) By Type: Isolates, Concentrates, Textured
2) By Source: Soy, Wheat, Pea, Other Sources
3) By Form: Dry, Liquid
4) By Application: Feed, Food, Other Applications

Subsegments:
1) By Isolates: Soy Protein Isolate, Pea Protein Isolate, Rice Protein Isolate, Wheat Protein Isolate
2) By Concentrates: Soy Protein Concentrate, Pea Protein Concentrate, Rice Protein Concentrate, Hemp Protein Concentrate
3) By Textured: Textured Soy Protein (TSP), Textured Pea Protein, Textured Wheat Protein, Textured Rice Protein

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Which Firms Dominate the Plant-Based Protein Market by Market Share and Revenue in 2025?
Major companies operating in the plant-based protein market include Archer-Daniels-Midland Company, DuPont Nutrition & Biosciences, Axiom Foods Inc., Cargill Inc., Kerry Group, Ingredion Inc., Roquette Freres SA, Wilmar International Ltd., Glanbia plc, Cosucra Groupe Warcoing SA, Sotexpro SAS, Emsland Group, Puris Proteins LLC., Beyond Meat Inc., ETChem Ltd., BENEO GmbH, Tate & Lyle plc, Shandong Jianyuan group, American Casein Company, Proeon Foods, Australian Plant Proteins Pty Ltd., Impossible Foods Inc., Nestle SA, Kellogg Company, Conagra Brands Inc., Tyson Foods Inc., Turtle Island Foods, Lightlife Foods Inc., Field Roast Grain Meat Co. Inc., Quorn Foods Ltd.

Which Regions Offer the Highest Growth Potential in the Plant-Based Protein Market?
North America was the largest region in the plant-based protein market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant-based protein market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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