Press release
Plant-Based Proteins Market Market Growth to be Propelled by Increasing Demand from Wheat and Pea
Global Plant-Based Proteins Market: Forecast Highlights
According to the research study by Persistence Market Research, the global plant based proteins market is witnessing high growth in the coming years. It is poised to register a robust CAGR of 5.7% throughout the period of forecast 2017-2025. In 2017, the global market was viewed at US$ 10.5 Bn and with this growth rate, it is estimated to reach a value of around US$ 16.3 Bn by the end of 2025.
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Rising demand for clean label products to drive growth of the global plant-based proteins market
As stated by Persistence Market Research, the global plant-based proteins market is anticipated to grow at a robust rate to reach a significant value by the end of the assessment period. The plant-based proteins market has been experiencing noteworthy growth during 2012-2016 period. It is projected to grow at a value CAGR of 5.7% throughout the period of forecast to reflect a market value about US$ 16.3 Bn by the end of 2025 from a market valuation of about US$ 10.5 Bn in 2017. This growth can be attributed to the rising demand for plant-based proteins in various food & beverages, and bakery products during the period of assessment as well as rising demand for clean label products. Plant-based proteins are looked upon as healthy alternatives to dairy/animal proteins and this fact is supporting the growth of the global plant-based proteins market. Moreover, trends such as rising demand for organic-based foods and increasing demand for healthier and premium food options are indirectly influencing the growth of the global market in a positive way.
Soy protein segment to bolster its dominance during the assessment period
Soy protein segment by product type is the largest segment and is anticipated to dominate the global market by product type with respect to market value share by the end of 2025. The soy segment was valued at US$ 6.8 Bn in 2017 and is estimated to portray a value of about US$ 10.4 Bn by the end of 2025. This segment is projected to grow at a high value CAGR of 5.4% during the period of assessment 2017-2025. This segment is expected to create absolute dollar opportunity of US$ 323.5 Mn in 2017 over 2016 and an incremental dollar opportunity of US$ 3.6 Bn between 2017 and 2025.
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Wheat and Pea show high growth opportunities
By product type, wheat protein and pea protein segments show good growth opportunities in the coming years. The wheat protein segment is anticipated to reach a market evaluation of about US$ 3.6 Bn by the end of 2025 from an evaluation of US$ 2.3 Bn in 2017. This segment is expected to grow at a robust CAGR of 6.1% throughout the period of forecast. The pea protein segment is an emerging one and is anticipated to project the highest growth during the entire forecast period. It is poised to register the highest CAGR of 7.0% during 2017-2025 owing to rising awareness of high nutritional value that pea proteins provide. But this segment shows less strength in terms of market revenue as compared to wheat and soy proteins segments.
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