Press release
Rising demand for clean label products to drive growth of the global plant-based proteins market
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.
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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.
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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Regional Outlook – Soy to say cheese
In North America region, the soy protein segment holds major share owing to the sifting consumer preference for plant protein based beverages which has resulted in the increased use of soy proteins in this region. This trend is observed in other regions also, such as Asia Pacific, Europe, Middle East and Africa and Europe. To infer, the soy protein segment by product type has been witnessing growing popularity in various regions across the globe.
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