Plant-Based Protein Market

Global Plant-based Protein Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031 - (By Product Type Coverage, By Form Coverage, By Application Coverage, By Geographic Coverage and By Company)

Published Date: Mar 2024 | Format: | No. of Pages: 186

Industry: Food & Beverage


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Global Plant-Based Protein Market Forecast

  • Global plant-based protein market size to reach US$23 Bn in 2031, up from US$14 Bn estimated in 2024
  • Market revenue projected to exhibit a remarkable rate of expansion, at an estimated CAGR of 7% during 2024 - 2031

Plant-based Protein Market, snapshot 2024 - 2031

Quick Report Digest

  1. The global plant-based protein market is projected to expand significantly from US$14 Bn in 2024 to US$23 Bn by 2030, showcasing a robust CAGR of 7% during the forecast period of 2023 to 2030.
  2. Market growth is primarily fueled by increasing consumer interest in healthier dietary options, such as vegetarian and vegan diets, and a growing awareness of the environmental impacts of animal agriculture.
  3. By 2023, the market was estimated to be valued between US$14.34 Bn, and US$52 Bn, indicating a substantial upward trend influenced by demand for allergen-free and non-GMO protein sources.
  4. Future projections suggest that the market could exceed US$25 Bn by 2030, driven by a CAGR of between 6.6% and 7.4%, with innovation in product taste and texture playing a crucial role.
  5. Three major growth drivers identified are the health and nutritional benefits associated with plant-based proteins, environmental and sustainability concerns, and shifting dietary preferences towards reducing meat consumption.
  6. Despite robust growth, the market faces challenges such as high production costs, the availability of raw materials, and diverse consumer preferences that may hinder the widespread adoption of plant-based proteins.
  7. Trends shaping the future include the dominance of short-form video content in marketing, an increasing emphasis on brand values, and the integration of generative AI for enhanced content personalisation.
  8. Regulatory frameworks significantly influence the industry, ensuring consumer safety and influencing product labelling, nutrient fortification, and allergen labelling standards.
  9. Key industry players include Archer-Daniels-Midland, Cargill, and Roquette Frères, with recent innovations like high-purity hempseed protein isolate and textured pea canola protein marking significant advancements.
  10. The market is broadly segmented by product type, form, application, and region, with North America, and the Asia Pacific identified as leading regions due to their high demand for healthy, alternative protein sources.

A Look Back and a Look Forward - Comparative Analysis

The plant-based protein market has been on a steady rise in recent years. While estimates on market size vary slightly depending on the research firm, there's no doubt about the upward trend. By 2023, the market is estimated to have reached a value between US$14.34 Bn and US$52 Bn.

This growth can be attributed to several factors. Consumers are increasingly interested in vegetarian and vegan diets, driven by a focus on health and the benefits of plant-based protein. Environmental concerns about the impact of animal agriculture are also playing a role, along with the growing availability of delicious and convenient plant-based food and beverage options. Additionally, there's a rising demand for allergen-free and non-GMO protein sources, which plant-based options can often fulfil.

Looking ahead, analysts predict continued growth for the plant-based protein market. Estimates suggest a CAGR between 6.6% and 7.4% over the next five to seven years. This translates to a potential market size exceeding $25 billion by 2030.

Several factors are expected to continue driving this growth. Consumers are likely to remain focused on health and wellness, and environmental sustainability is a growing concern for many. Innovation in the plant-based protein sector is expected to play a key role, with products boasting improved taste and texture attracting a wider audience.

Plant-based Protein Market, US$ Bn, 2019 - 2031

Key Growth Determinants

    1. Health and Nutritional Benefits

A growing body of research suggests that plant-based diets, including proteins derived from plants, can offer numerous health benefits. These include lower risks of heart disease, high blood pressure, type 2 diabetes, and certain types of cancer.

Plant-based proteins are also associated with lower cholesterol levels and a healthier body weight. As consumers become more health-conscious, their interest in plant-based proteins as a healthier alternative to animal proteins has surged.

    2. Environmental and Sustainability Concerns

There is an increasing awareness among consumers about the environmental impact of meat production, including its high water usage, greenhouse gas emissions, and its role in deforestation and biodiversity loss.

Plant-based proteins are viewed as a more sustainable and environmentally friendly alternative, as they generally require less land, water, and energy to produce.

    3. Changing Dietary Preferences, and Lifestyle Choices

The rise in vegetarianism, veganism, and flexitarian diets, where people reduce their meat consumption without cutting it out entirely, has significantly contributed to the demand for plant-based proteins. These dietary preferences are often motivated by health concerns, ethical considerations regarding animal welfare, and environmental reasons.

Major Growth Barriers

    1. High Cost of Production

One of the primary challenges facing the plant-based protein market is the high cost of production. This can make plant-based proteins more expensive than their animal-based counterparts, potentially limiting their adoption among consumers who are sensitive to price differences.

    2. Raw Material Availability

Another significant challenge is the availability of raw materials required for plant-based protein products. Issues such as crop failures, supply chain disruptions, or increased demand for these raw materials can pose problems for manufacturers, impacting their ability to produce plant-based protein products efficiently and affordably.

    3. Consumer Preferences and Dietary Habits

Changing consumer preferences and dietary habits can also pose a challenge. While there is a growing trend towards plant-based diets, preferences can vary widely by region, and the acceptance of plant-based proteins is not universal. Convincing consumers to switch from animal-based to plant-based proteins may require significant marketing efforts and education, particularly in regions where plant-based diets are less common.

Key Trends and Opportunities to Look at

    1. Rise of Short-Form Video Content

Platforms like TikTok, Instagram Reels, and YouTube Shorts are dominating consumer attention, with marketers significantly investing in short-form videos to engage with audiences effectively​​. The efficiency and effectiveness of this content type in storytelling make it an essential tool for brands to connect with their audience on a deeper level.

    2. Emphasis on Brand Values

Consumers increasingly demand that brands' values align with their own, pushing companies to showcase their principles through their marketing efforts​​. This trend necessitates a strategic pivot towards creating content that not only highlights a brand's products but also its stance on social, environmental, and ethical issues.

  1. Leveraging Generative AI in Marketing

The adoption of GenAI can enhance content creativity and personalisation, allowing brands to tailor their messaging and experiences to individual consumer preferences more precisely. This technological integration presents an opportunity to develop hypertargeted, personalised marketing strategies that can significantly improve engagement and conversion rates.

How Does the Regulatory Scenario Shape this Industry?

The regulatory landscape acts as a sculptor, shaping the plant-based protein industry in multifaceted ways. From labelling to safety standards, regulations hold significant sway over every stage of a product's journey. On one hand, they ensure consumer safety. Clear guidelines on how plant-based products can be labelled, for instance, prevent misleading terms like pea sausage, and build trust within the industry.

Additionally, regulations establish safety standards for novel ingredients and processing techniques, giving consumers peace of mind. However, overly restrictive regulations can stifle innovation. Imagine a scenario where regulations make it difficult to introduce new plant-based protein sources due to lengthy approval processes. Furthermore, regulations play a role in how plant-based products are fortified and marketed. They dictate what nutrients can be added to these products and how companies can make health claims on their packaging.

Clear guidelines in this area empower consumers to make informed choices based on their dietary needs. Additionally, regulations around allergen labelling are crucial, particularly for those with common allergies to plant-based protein sources like soy or pea. By mandating clear labelling, regulators ensure the safety of consumers with specific dietary restrictions.

Fairfield’s Ranking Board

Top Segments

  1. Soy Protein Surges Ahead of All

Soy protein stands out as a dominant force in the plant-based protein market, primarily due to its multifaceted advantages. Renowned for its comprehensive nutritional profile, soy protein offers a complete source of protein, containing all essential amino acids vital for human health. Its affordability compared to other plant-based proteins further enhances its appeal to consumers across various demographics. Moreover, soy protein finds widespread application in an array of food products, including tofu, soy milk, meat alternatives, energy bars, and baked goods, making it a versatile ingredient for manufacturers.

The health benefits associated with soy protein, such as cholesterol reduction, heart health promotion, and potential cancer prevention properties, bolster its position as a preferred choice for health-conscious consumers seeking plant-based dietary options. Additionally, its sustainability credentials, including lower environmental impact compared to animal-derived proteins, align with the growing consumer demand for eco-friendly and ethical food choices, further cementing its dominance in the market.

  1. Ready-to-Eat Proteins Continue to be the Most Favoured

The segment of ready-to-eat plant-based proteins is experiencing exponential growth, propelled by the evolving preferences of modern consumers seeking convenient yet nutritious meal solutions. With the hectic pace of contemporary lifestyles, consumers increasingly gravitate towards on-the-go food options that offer both health benefits and convenience.

Ready-to-eat plant-based protein products cater precisely to this demand, offering a convenient alternative to traditional meat-based meals. These products are readily available in supermarkets, convenience stores, and online platforms, providing consumers with easy access to nutritious plant-based options without compromising on taste or convenience. The versatility of ready-to-eat plant-based proteins, ranging from protein bars and shakes to pre-packaged meals and snacks, allows consumers to integrate plant-based nutrition seamlessly into their daily routines, driving the segment's rapid growth trajectory.

  1. Pea Protein Pioneers Evolving Consumer Choices

Pea protein emerges as a frontrunner in the plant-based protein market, projected to exhibit the fastest CAGR during the forecast period. This growth is underpinned by several factors, including its allergen-free, gluten-free, and lactose-free properties, making it a suitable option for individuals with dietary restrictions or allergies. Pea protein's high nutritional value, boasting an impressive amino acid profile and being rich in essential nutrients like iron and fibre, positions it as a viable alternative to traditional protein sources.

Furthermore, its sustainability credentials, such as low water and land usage compared to animal protein production, resonate with environmentally conscious consumers seeking more eco-friendly dietary options. The versatility of pea protein allows its incorporation into a wide range of food and beverage applications, including plant-based meat substitutes, protein powders, snacks, and baked goods, driving its rapid market growth and solidifying its position as a prominent player in the plant-based protein landscape.

Regional Frontrunners

North America's Growing Demand for Healthy, Alternative Protein Sources

North America's robust demand for healthy, alternative protein sources reflects a shift in consumer preferences towards more sustainable and nutritious food options. The US, Canada, and Mexico collectively represent a significant market with a strong consumer base seeking alternatives to traditional animal-based proteins. This trend is propelled by various factors, including increasing health consciousness among consumers, who are becoming more mindful of their dietary choices. Additionally, busy lifestyles are driving the demand for convenient protein options that offer both nutritional value and convenience.

The US especially leads the pack in embracing alternative protein sources, with a burgeoning market for plant-based meats, dairy alternatives, and other innovative protein products. Canada, and Mexico also contribute to the region's growth, albeit at a slightly slower pace. The rise of the vegan population, coupled with a growing awareness of the environmental impact of animal agriculture, further accelerates the adoption of alternative protein sources in North America. As consumers seek healthier and more sustainable diets, the demand for plant-based proteins continues to surge, presenting significant opportunities for food manufacturers and retailers to cater to evolving dietary preferences.

Plant-based Protein Market Regional Outlook, 2019 - 2031

The Rise of Alternative Protein Markets in the Asia Pacific Region

The Asia Pacific region is witnessing a transformative shift towards alternative protein sources driven by its large and increasingly health-conscious population. Countries like China, and India, with their burgeoning middle class and rising disposable incomes, are emerging as key markets for plant-based proteins and other alternative protein sources. Rapid urbanisation and changing dietary habits are reshaping food consumption patterns, with consumers showing a growing preference for plant-based staples and protein alternatives.

In China, for instance, the government's push for healthier lifestyles and environmental sustainability has spurred interest in alternative protein sources, leading to a surge in demand for plant-based meat substitutes and dairy alternatives. Similarly, in India, where vegetarianism is culturally significant, there is a rising awareness of the health benefits associated with plant-based diets, driving the adoption of alternative protein products.

Moreover, increasing awareness of sustainability issues, such as climate change and animal welfare concerns, is influencing consumer behavior across the Asia Pacific region. As consumers become more conscious of the environmental footprint of their food choices, there is a growing inclination towards sustainable and ethically sourced protein options. This presents immense growth potential for businesses operating in the alternative protein market, as they capitalise on the region's evolving dietary preferences and health-conscious consumer demographics.

Fairfield’s Competitive Landscape Analysis

The competition landscape in the plant-based protein market is both dynamic and diverse, featuring a mix of established players and emerging startups. The leading players in this market include global giants like Archer-Daniels-Midland Company, Cargill, Incorporated, and Roquette Frères, among others​​. These companies have established strong market positions through extensive product portfolios, widespread distribution networks, and brand recognition.

Who are the Leaders in the Global Plant-Based Protein Market?

Significant Company Developments

  • July 2023, Burcon NutraScience Corporation, a pioneer in plant-based proteins, in collaboration with HPS Food and Ingredients Inc., unveiled the first-ever high-purity, soluble hempseed protein isolate. This development signifies a major advancement in the availability of diverse protein sources for the plant-based market, offering a new, sustainable protein option with a high nutritional profile.
  • December 2022, Royal DSM launched Vertis™ Textured Pea Canola Protein, a groundbreaking development in the plant-based protein segment. This new protein is distinguished as the only textured vegetable protein that contains all nine essential amino acids required to be considered a complete protein.
  • March 2022 saw Mighty Foods introduce a variety of plant-based protein products specifically tailored for the Indian market. This range includes easy-to-cook options such as grilled plant fish, seekh kebab, and galauti kebab, meeting the dietary preferences of Indian consumers.

An Expert’s Eye

The global plant-based protein market projecting significant expansion in the coming years. This optimism is fueled by a confluence of factors including increasing consumer awareness about health and nutrition, the rising popularity of vegan and vegetarian lifestyles, and growing concerns about environmental sustainability and animal welfare.

The market's growth is further bolstered by continuous innovation in product development, leading to improvements in taste, texture, and nutritional profile of plant-based protein products. This innovation is attracting a broader consumer base, extending beyond traditional health-conscious consumers to include mainstream shoppers. Additionally, the expansion of distribution channels and the entrance of major food and beverage companies into the plant-based protein space are making these products more accessible and appealing to a wider audience.

Moreover, the global push towards sustainability and reducing carbon footprints is leading consumers and businesses alike to favour plant-based proteins over animal-based alternatives.

The Global Plant-Based Protein Market is Segmented as Below:

By Product Type      

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Others

By Form        

  • Isolate
  • Concentrate
  • Others

By Application          

  • Supplements & Nutritional Powders
  • Beverages
  • Protein & Nutritional Bars
  • Bakery & Snacks
  • Breakfast Cereals
  • Meat Products
  • Dairy Products
  • Infant Nutrition
  • Animal Feed
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Spain
    • Germany
    • Italy
    • France
    • Rest of Europe
  • The Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • New Zealand
    • Southeast Asia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of LATAM
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Lebanon
    • Jordan
    • Cyprus

 

1. Executive Summary
    1.1. Global Plant-based Protein Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2023
    1.5. Analyst Recommendations


2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
       2.2.1. Drivers
       2.2.2. Restraints
       2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. Covid-19 Impact Analysis
       2.5.1. Supply
       2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
       2.7.1. World Economic Projections
    2.8. PESTLE Analysis


3. Global Plant-based Protein Market Outlook, 2019 - 2031
    3.1. Global Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       3.1.1. Key Highlights
             3.1.1.1. Soy Protein
             3.1.1.2. Wheat Protein
             3.1.1.3. Pea Protein
             3.1.1.4. Others
    3.2. Global Plant-based Protein Market Outlook, by form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       3.2.1. Key Highlights
             3.2.1.1. Isolate
             3.2.1.2. Concentrate
             3.2.1.3. Others
    3.3. Global Plant-based Protein Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       3.3.1. Key Highlights
             3.3.1.1. Supplements & Nutritional Powders
             3.3.1.2. Beverages
             3.3.1.3. Proteins & Nutritional Bars
             3.3.1.4. Bakery & Snacks
             3.3.1.5. Breakfast Cereals
             3.3.1.6. Meat Products
             3.3.1.7. Dairy Products
             3.3.1.8. Infant Nutrition
             3.3.1.9. Animal Feed
             3.3.1.10. Others
    3.4. Global Plant-based Protein Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       3.4.1. Key Highlights
             3.4.1.1. North America
             3.4.1.2. Europe
             3.4.1.3. Asia Pacific
             3.4.1.4. Latin America
             3.4.1.5. Middle East & Africa


4. North America Plant-based Protein Market Outlook, 2019 - 2031
    4.1. North America Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       4.1.1. Key Highlights
             4.1.1.1. Soy Protein
             4.1.1.2. Wheat Protein
             4.1.1.3. Pea Protein
             4.1.1.4. Other
    4.2. North America Plant-based Protein Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       4.2.1. Key Highlights
             4.2.1.1. Isolate
             4.2.1.2. Concentrate
             4.2.1.3. Other
    4.3. North America Plant-based Protein Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       4.3.1. Key Highlights
             4.3.1.1. Supplements & Nutritional Powders
             4.3.1.2. Beverages
             4.3.1.3. Protein & Nutritional Bars
             4.3.1.4. Bakery & Snacks
             4.3.1.5. Breakfast Cereals
             4.3.1.6. Meat Products
             4.3.1.7. Dairy Products
             4.3.1.8. Infant Nutrition
             4.3.1.9. Animal Feed
             4.3.1.10. Others
       4.3.2. BPS Analysis/Market Attractiveness Analysis
    4.4. North America Plant-based Protein Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       4.4.1. Key Highlights
             4.4.1.1. U.S. Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             4.4.1.2. U.S. Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             4.4.1.3. U.S. Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             4.4.1.4. Canada Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             4.4.1.5. Canada Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             4.4.1.6. Canada Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       4.4.2. BPS Analysis/Market Attractiveness Analysis


5. Europe Plant-based Protein Market Outlook, 2019 - 2031
    5.1. Europe Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.1.1. Key Highlights
             5.1.1.1. Soy Protein
             5.1.1.2. Wheat Protein
             5.1.1.3. Pea Protein
             5.1.1.4. Other Plant-based Protein
    5.2. Europe Plant-based Protein Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.2.1. Key Highlights
             5.2.1.1. Isolate
             5.2.1.2. Concentrate
             5.2.1.3. Other
    5.3. Europe Plant-based Protein Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.3.1. Key Highlights
             5.3.1.1. Supplements & Nutritional Powders
             5.3.1.2. Beverages
             5.3.1.3. Protein & Nutritional Bars
             5.3.1.4. Bakery & Snacks
             5.3.1.5. Breakfast Cereals
             5.3.1.6. Meat Products
             5.3.1.7. Dairy Products
             5.3.1.8. Infant Nutrition
             5.3.1.9. Animal Feed
             5.3.1.10. Others
       5.3.2. BPS Analysis/Market Attractiveness Analysis
    5.4. Europe Plant-based Protein Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.4.1. Key Highlights
             5.4.1.1. Germany Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.2. Germany Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.3. Germany Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.4. U.K. Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.5. U.K. Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.6. U.K. Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.7. France Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.8. France Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.9. France Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.10. Italy Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.11. Italy Plant-based Protein Market by Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.12. Italy Plant-based Protein Market by Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.13. Turkey Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.14. Turkey Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.15. Turkey Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.16. Russia Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.17. Russia Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.18. Russia Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.19. Rest of Europe Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.20. Rest of Europe Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             5.4.1.21. Rest of Europe Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.4.2. BPS Analysis/Market Attractiveness Analysis


6. Asia Pacific Plant-based Protein Market Outlook, 2019 - 2031
    6.1. Asia Pacific Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.1.1. Key Highlights
             6.1.1.1. Soy Protein
             6.1.1.2. Wheat Protein
             6.1.1.3. Pea Protein
             6.1.1.4. Other Plant-based Protein
    6.2. Asia Pacific Plant-based Protein Market Outlook, By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.2.1. Key Highlights
             6.2.1.1. Isolate
             6.2.1.2. Concentrate
             6.2.1.3. Other
    6.3. Asia Pacific Plant-based Protein Market Outlook, By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.3.1. Key Highlights
             6.3.1.1. Supplements & Nutritional Powders
             6.3.1.2. Beverages
             6.3.1.3. Protein & Nutritional Bars
             6.3.1.4. Bakery & Snacks
             6.3.1.5. Breakfast Cereals
             6.3.1.6. Meat Products
             6.3.1.7. Dairy Products
             6.3.1.8. Infant Nutrition
             6.3.1.9. Animal Feed
             6.3.1.10. Others
       6.3.2. BPS Analysis/Market Attractiveness Analysis
    6.4. Asia Pacific Plant-based Protein Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.4.1. Key Highlights
             6.4.1.1. China Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.2. China Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.3. China Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.4. Japan Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.5. Japan Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.6. Japan Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.7. South Korea Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.8. South Korea Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.9. South Korea Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.10. India Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.11. India Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.12. India Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.13. Southeast Asia Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.14. Southeast Asia Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.15. Southeast Asia Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.16. Rest of Asia Pacific Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.17. Rest of Asia Pacific Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.18. Rest of Asia Pacific Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.4.2. BPS Analysis/Market Attractiveness Analysis


7. Latin America Plant-based Protein Market Outlook, 2019 - 2031
    7.1. Latin America Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.1.1. Key Highlights
             7.1.1.1. Soy Protein
             7.1.1.2. Wheat Protein
             7.1.1.3. Pea Protein
             7.1.1.4. Other Plant-based Protein
    7.2. Latin America Plant-based Protein Market Outlook, by By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.2.1.1. Isolate
             7.2.1.2. Concentrate
             7.2.1.3. Other
    7.3. Latin America Plant-based Protein Market Outlook, by By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.3.1. Key Highlights
             7.3.1.1. Supplements & Nutritional Powders
             7.3.1.2. Beverages
             7.3.1.3. Protein & Nutritional Bars
             7.3.1.4. Bakery & Snacks
             7.3.1.5. Breakfast Cereals
             7.3.1.6. Meat Products
             7.3.1.7. Dairy Products
             7.3.1.8. Infant Nutrition
             7.3.1.9. Animal Feed
             7.3.1.10. Others
       7.3.2. BPS Analysis/Market Attractiveness Analysis
    7.4. Latin America Plant-based Protein Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.4.1. Key Highlights
             7.4.1.1. Brazil Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.2. Brazil Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.3. Brazil Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.4. Mexico Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.5. Mexico Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.6. Mexico Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.7. Argentina Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.8. Argentina Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.9. Argentina Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.10. Rest of Latin America Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.11. Rest of Latin America Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.12. Rest of Latin America Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.4.2. BPS Analysis/Market Attractiveness Analysis


8. Middle East & Africa Plant-based Protein Market Outlook, 2019 - 2031
    8.1. Middle East & Africa Plant-based Protein Market Outlook, by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.1.1. Key Highlights
             8.1.1.1. Soy Protein
             8.1.1.2. Wheat Protein
             8.1.1.3. Pea Protein
             8.1.1.4. Other Plant-based Protein
    8.2. Middle East & Africa Plant-based Protein Market Outlook, by By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.2.1. Key Highlights
             8.2.1.1. Isolate
             8.2.1.2. Concentrate
             8.2.1.3. Other
    8.3. Middle East & Africa Plant-based Protein Market Outlook, by By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.3.1. Key Highlights
             8.3.1.1. Supplements & Nutritional Powders
             8.3.1.2. Beverages
             8.3.1.3. Protein & Nutritional Bars
             8.3.1.4. Bakery & Snacks
             8.3.1.5. Breakfast Cereals
             8.3.1.6. Meat Products
             8.3.1.7. Dairy Products
             8.3.1.8. Infant Nutrition
             8.3.1.9. Animal Feed
             8.3.1.10. Others
       8.3.2. BPS Analysis/Market Attractiveness Analysis
    8.4. Middle East & Africa Plant-based Protein Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.4.1. Key Highlights
             8.4.1.1. GCC Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.2. GCC Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.3. GCC Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.4. South Africa Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.5. South Africa Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.6. South Africa Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.7. Egypt Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.8. Egypt Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.9. Egypt Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.10. Nigeria Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.11. Nigeria Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.12. Nigeria Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.13. Rest of Middle East & Africa Plant-based Protein Market by Product Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.14. Rest of Middle East & Africa Plant-based Protein Market By Form, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.15. Rest of Middle East & Africa Plant-based Protein Market By Application, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.4.2. BPS Analysis/Market Attractiveness Analysis


9. Competitive Landscape
    9.1. By Application vs By Application Heatmap
    9.2. Manufacturer vs By Application Heatmap
    9.3. Company Market Share Analysis, 2023
    9.4. Competitive Dashboard
    9.5. Company Profiles
       9.5.1. Archer Daniels Midland
             9.5.1.1. Company Overview
             9.5.1.2. Product Portfolio
             9.5.1.3. Financial Overview
             9.5.1.4. Business Strategies and Development
       9.5.2. Glanbia
             9.5.2.1. Company Overview
             9.5.2.2. Product Portfolio
             9.5.2.3. Financial Overview
             9.5.2.4. Business Strategies and Development
       9.5.3. Kerry Group
             9.5.3.1. Company Overview
             9.5.3.2. Product Portfolio
             9.5.3.3. Financial Overview
             9.5.3.4. Business Strategies and Development
       9.5.4. DuPont
             9.5.4.1. Company Overview
             9.5.4.2. Product Portfolio
             9.5.4.3. Financial Overview
             9.5.4.4. Business Strategies and Development
       9.5.5. Beyond Meat
             9.5.5.1. Company Overview
             9.5.5.2. Product Portfolio
             9.5.5.3. Financial Overview
             9.5.5.4. Business Strategies and Development
       9.5.6. Impossible Foods
             9.5.6.1. Company Overview
             9.5.6.2. Product Portfolio
             9.5.6.3. Financial Overview
             9.5.6.4. Business Strategies and Development
       9.5.7. Quorn
             9.5.7.1. Company Overview
             9.5.7.2. Product Portfolio
             9.5.7.3. Financial Overview
             9.5.7.4. Business Strategies and Development
       9.5.8. Kellogg’s
             9.5.8.1. Company Overview
             9.5.8.2. Product Portfolio
             9.5.8.3. Financial Overview
             9.5.8.4. Business Strategies and Development
       9.5.9. Unilever
             9.5.9.1. Company Overview
             9.5.9.2. Product Portfolio
             9.5.9.3. Financial Overview
             9.5.9.4. Business Strategies and Development


10. Appendix
    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

 

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2023

 

2019 - 2023

2024 - 2031

Value: US$ Million

 

REPORT FEATURES

DETAILS

 Product Type Coverage

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Misc.

 Form Coverage

  • Isolate
  • Concentrate
  • Misc.

Application Coverage

  • Supplements & Nutritional Powders
  • Beverages
  • Protein & Nutritional Bars
  • Bakery & Snacks
  • Breakfast Cereals
  • Meat Products
  • Dairy Products
  • Infant Nutrition
  • Animal Feed
  • Misc.

Geographical Coverage

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Spain
    • Germany
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • New Zealand
    • Southeast Asia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of LATAM
  • Middles East &  Africa
    • Saudi Arabia
    • UAE
    • Lebanon
    • Jordan
    • Cyprus

Leading Companies

  • Lintec
  • Aalberts Surface Treatment
  • Talon Innovations Corporation
  • Preision Coating Company, Inc.
  • Bodycote
  • Industrial Metal Finishing
  • MilSpec Metal Finishing
  • Havland Enterprises, Inc.
  • Surface Technology, Inc.
  • Rashig USA, Inc.
  • Tecno-Coat
  • Chemetall GmbH
  • Alumeco Group
  • Anodizing Technologies Co., Ltd.
  • Bondtech Corporation

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Plant-Based Protein Market

The global plant-based protein market is gaining traction as consumers increasingly opt for healthier and sustainable dietary choices, challenging the dominance of traditional animal-derived protein sources.

Rising health consciousness, environmental sustainability concerns, ethical considerations, and the growing demand for meat alternatives are key drivers propelling the growth of the global plant-based protein market.

Regulatory policies and labeling standards play a crucial role in shaping consumer perceptions and market dynamics, influencing product formulation, marketing strategies, and consumer trust in plant-based protein products.

Challenges include achieving taste and texture parity with animal-based products, supply chain complexities, ensuring product affordability, and addressing misconceptions surrounding plant-based diets.

Emerging opportunities include innovation in product development, expansion into new market segments such as sports nutrition and functional foods, strategic partnerships, and investments in research and development to enhance product quality and diversity.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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