Plant-Based Protein Market Growth Accelerates with Rising Demand for Nutritional Alternatives to Meat and Dairy

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 2034."

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According to the latest research by InsightAce Analytic, the global Plant-based Protein market is valued at USD 15.0 Billion in 2024, and it is expected to reach USD 29.8 Billion by the year 2034, with a CAGR of 7.2% during a forecast period of 2025-2034.

Proteins are essential nutrients required by the human body for the synthesis of hormones, enzymes, and various physiological compounds. They constitute a fundamental component of vital structures including skin, blood, muscles, bones, and cartilage. Plant-based proteins, derived from sources such as soy, pea, wheat, and other botanical origins, are processed into diverse end products and serve as viable alternatives to animal-derived proteins. These plant proteins are widely utilized across the food, beverage, and animal feed industries and are commonly incorporated into meat substitutes and functional food products. For instance, chickpea and pea proteins are frequently added to beverages to enhance their nutritional profile, making them particularly appealing to health-conscious consumers seeking sustainable and nutrient-rich dietary options.

The global plant-based protein market is experiencing robust growth, primarily driven by several key factors: the increasing number of health-aware consumers, the growing prevalence of lactose intolerance, rising consumer awareness of the health benefits associated with plant-based diets, strategic investments and partnerships within the sector, and the broadening range of applications for plant proteins. Additionally, the rapid expansion of the nutraceutical industry is expected to contribute significantly to market revenue. The rising consumer demand for functional foods, dietary supplements, and wellness-oriented products continues to fuel market momentum.

Despite these favorable trends, certain challenges persist. Digestive discomfort and other health-related concerns present obstacles to wider adoption. For example, specific plant-based proteins, such as soy protein and its derivatives, contain phytates, which can inhibit mineral absorption and potentially lead to deficiencies. Furthermore, soy-based isoflavones function as goitrogens, which may interfere with thyroid activity and hormone production, thereby raising concerns regarding long-term health implications.

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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

Read Overview Report- https://www.insightaceanalytic.com/report/global-plant-based-protein-market-/1118

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This release was published on openPR.