Plant Proteins Market Set for Robust Growth to US$34 Billion by 2031, Led by North America's 41.69% Market Share | DataM Intelligence

Leander, Texas - The Global Plant Protein Market reached US$ 17 billion in 2022 and is projected to reach approximately US$ 34 billion by 2031, growing at a CAGR of around 9.3% during the forecast period from 2024 to 2031.

This growth is driven by increasing consumer demand for sustainable and plant-based dietary choices, rising awareness of health benefits, and a global shift towards ethical and environmentally friendly protein sources.

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United States: Key Industry Developments
✅ June 2025: Roquette expanded its NUTRALYS® plant protein portfolio by launching two new textured protein solutions - NUTRALYS® T WHEAT 600L (textured wheat protein) and NUTRALYS® T PEA 700XC (textured pea protein). These products target meat analogues and plant-forward food concepts with enhanced texture and nutrition, marking Roquette's entry into textured wheat protein.​

Asia Pacific / Japan: Key Industry Developments
✅ January 2025: The Japan plant protein market is growing steadily, driven by consumer demand for soy and pea proteins as sustainable alternatives. Innovations include new protein sources like insect and algae proteins, supported by increasing health consciousness and environmental awareness in Japan.​

✅ November 2025: Angel Yeast opened a new yeast protein production line in China, offering a protein product rich in amino acids and dietary fiber that can complement soy and whey proteins, reflecting broader regional trends in alternative protein sources within Asia.

Key Merges and Acquisitions (2025):
✅ My Co (investment firm) - acquired Australian Plant Proteins (APP), a leading plant protein manufacturer in Australia that had entered insolvency, with plans to resume and expand operations to support local farmers and drive innovation in plant-based protein products.

✅ Danone - agreed to acquire a majority stake in Kate Farms, a U.S. producer of organic, plant-based nutrition products, strengthening its portfolio in specialized plant-based nutrition and organic protein products.

✅ Plukon Food Group - acquired Dutch plant-based brand Vega Insiders, integrating expertise in plant-based product development and accelerating expansion in the alternative protein sector in Europe.

Market Segmentation Analysis:
-By Type: Protein Isolates, Protein Concentrates, Textured Protein
Protein isolates dominate with approximately 41.2% market share in 2025 due to their high protein concentration and versatile functional properties. Concentrates and textured proteins follow but hold smaller shares compared to isolates, which drive growth in diverse applications.

-By Source: Soy Protein, Pea Protein, Wheat Protein, Other Vegetable Proteins
Soy protein leads with roughly 45% market share, depending on the region and report, primarily due to its comprehensive amino acid profile, cost-efficiency, and widespread use in food and beverage applications, especially meat and dairy alternatives. Pea and wheat proteins are also significant, with pea protein gaining traction for its clean-label appeal and wheat protein valued in bakery applications.

-By Application: Food Ingredients, Animal Feed, Pharmaceuticals
Food ingredients dominate with about 60% share of the market, boosted by strong demand in meat analogues, bakery, beverages, and ready-to-eat categories. Animal feed holds a considerable share, driven by sustainable livestock nutrition demand. The pharmaceutical segment is smaller but growing with usage in nutritional and medical products.

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Growth Drivers:
-Increasing production and availability of plant proteins such as soy, peas, rice, and wheat, enabling innovative food applications.

-Rising consumer health consciousness and growing preference for protein-rich plant-based nutrition.

-Expanding veganism and vegetarianism movements, especially among younger, internet-savvy populations.

-Environmental sustainability concerns promoting shifts from animal to plant-based protein sources.

-Innovations in product formats like protein powders, snacks, and dairy alternatives catering to convenience and dietary needs.

-Geographic growth fueled by high adoption in regions like Asia-Pacific, North America, and increasing disposable incomes enabling premium product demand.

Regional Insights:
-North America: North America dominates the global plant proteins market with a market share of approximately 41.69% in 2024. This is primarily due to high consumer awareness of health and wellness, a large vegan and flexitarian population, a well-established food and beverage industry, and significant investment in plant-based food innovation and infrastructure.

-Europe: Europe accounts for a significant share of the market, with an estimated 17.0% in 2025. The region benefits from strong governmental pushes for sustainability, stringent animal welfare legislation, and high consumer demand for non-GMO and organic products. Germany is a prominent market, with a large number of vegetarians and vegans.

-Asia-Pacific: The Asia-Pacific region holds around 31% to 36% of the total market share (2023/2024 estimates) and is projected to be the fastest-growing market. The rapid growth is driven by increasing disposable incomes, urbanization, a large population (especially in China and India), and growing awareness of protein-rich diets and the health benefits of plant-based foods.

-Latin America: This region represents an emerging market with strong growth potential, expected to hold about 5.28% of the global market in 2025. Growth is supported by a rising middle class and increasing awareness of the health benefits of plant-based diets, with Brazil as the dominant market.

-Middle East & Africa: The Middle East and Africa region accounts for a smaller share (around 5% globally) but is growing steadily. The market is driven by increasing healthcare expenditures, a growing young population open to global food trends, and a focus on food security and diversification in the Middle East, particularly in Saudi Arabia and the UAE.

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Key Players:
Archer Daniels Midland Company | Axiom Foods | Amco Proteins | Cargill Incorporated | E. I. du Pont de Nemours and Company | Glanbia Nutritionals | Growing Naturals LLC | Kerry Group | Manitoba Harvest Hemp Foods | Omega Protein Corporation | Roquette Foods | Scoular Company Food Ingredient | Sodrugestvo Group | Sunwarrior

Key Highlights (Top 5 Key Players) for Plant Proteins Market:
-Cargill Incorporated, a leading global player, holds a significant share with extensive plant-based protein product offerings in food & beverage segments, leveraging its broad global operations.​

-Archer Daniels Midland Company accounts for about 9% market share with strong global processing capabilities in soy isolates and wheat proteins, supported by its ProFam and Arcon brands used in meat substitutes and nutraceuticals.​

-Kerry Group PLC is recognized for its innovation and taste and nutrition expertise, maintaining a trusted position in supplying plant proteins for various food applications.​

-Roquette Foods, part of the key players in the North American and global plant protein market space, offers specialized plant protein ingredients with a focus on sustainability and functional properties.​

-Amco Proteins, known for its animal feed and plant protein production, ranks among notable specialized players contributing to the market.

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