Reports
Global Plant Protein Market: By Source: Algae, Soy, Wheat, Pea, Potato, Oat, Chickpea, Rice, Others; By Application: Food and Beverage, Animal Feed, Supplements, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Plant Protein Market Outlook
The global plant protein market stood at a value of around USD 9.7 billion in 2020. The market is further expected to grow at a CAGR of 7.5% in the forecast period of 2023-2028 to attain USD 15 billion by 2026.
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Growing Demand for Soy Protein Owing to the Rising Cases of Cancer and Heart-Related Diseases to Bolster the Growth of the Plant Protein Industry
Based on type, the soy protein segment accounts for a significant share in the market and is likely to witness a considerable growth in the forecast period as well. This can be attributed to the rising cases of breast cancer, heart-related diseases, and osteoporosis among the working-class population. Soy protein boosts energy and helps improve heart health.
Over the forecast period, the rising cases of obesity or weight gain, owing to the emergence of the work-from-home culture, is likely to aid the segment growth, as soy protein helps lose weight and balances the hormones in the body. Meanwhile, the demand for rice protein is anticipated to attain a considerable growth in the forecast period, owing to the presence of essential vitamins and minerals that help the blood transport oxygen and perform other vital functions.
The Asia Pacific Accounts for a Significant Share in the Market
The plant protein industry in the Asia Pacific is driven by the thriving food and beverage sector. The rising population and the increasing demand for plant-based food products are aiding the market growth. In addition, the increasing prevalence of heart-related diseases in the region is likely to augment the demand for plant protein. In the forecast period, the growing popularity of tofu, tempeh, peanuts, and edamame, among others is likely to aid the market.
Plant Protein: Market Segmentation
Plant protein is defined as a food source of protein that is obtained from plants. The plant proteins include pulses, tofu, soy, tempeh, seitan, nuts, seeds, and certain grains, among others, and are known to facilitate muscle growth and help reduce weight.
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Based on source, the market is divided into:
- Algae
- Soy
- Wheat
- Pea
- Potato
- Oat
- Chickpea
- Rice
- Others
The significant applications of the product include:
- Food and Beverage
- Animal Feed
- Supplements
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Trend of Clean Eating to Boost the Growth of the Plant Protein Industry
The global plant protein industry is driven by the rising demand for plant protein in the food and beverage industry, owing to the growing inclination of people towards health and fitness. The sustained interest in eating more plant protein while reducing the intake of animal protein is aiding industry growth. According to the International Food Information Council (IFIC) Food & Health Survey 2020, around 6% of Americans reported following a plant-based diet compared to 5% in 2019. At the same time, plant-based eating ranked above vegetarian (4%) and vegan diets (1%). The plant protein facilitates muscle growth, helps reduce body weight, and lessens the risk of heart diseases. Over the forecast period, the growing awareness about the ecological impact of meat-sourcing practices and the increasing cases of animal-borne diseases, such as swine flu, bird flu, and others, are likely to augment the market growth. In addition, the market is expected to be aided by the various nutritional benefits offered by plant protein owing to the presence of vitamins and minerals, which are essential for maintaining a healthy body.
Key Industry Players in the Global Plant Protein Market
The report gives a detailed analysis of the following key players in the global plant protein market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Archer Daniels Midland Company
- DuPont de Nemours Inc.
- Kerry Group
- Tate & Lyle Plc
- Roquette Freres
- Cargill Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Application, Region |
| Breakup by Source | Algae, Soy, Wheat, Pea, Potato, Oat, Chickpea, Rice, Others |
| Breakup by Application | Food and Beverage, Animal Feed, Supplements, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group, Tate & Lyle Plc, Roquette Freres, Cargill Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Plant Protein Market Analysis
8.1 Key Industry Highlights
8.2 Global Plant Protein Historical Market (2018-2022)
8.3 Global Plant Protein Market Forecast (2023-2028)
8.4 Global Plant Protein Market by Source
8.4.1 Algae
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Soy
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Wheat
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Pea
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Potato
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Oat
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Chickpea
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2022)
8.4.7.3 Forecast Trend (2023-2028)
8.4.8 Rice
8.4.8.1 Market Share
8.4.8.2 Historical Trend (2018-2022)
8.4.8.3 Forecast Trend (2023-2028)
8.4.9 Others
8.5 Global Plant Protein Market by Application
8.5.1 Food and Beverage
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Animal Feed
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Supplements
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Plant Protein Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Plant Protein Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Plant Protein Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Plant Protein Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Plant Protein Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Plant Protein Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Archer Daniels Midland Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 DuPont de Nemours Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Kerry Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Tate & Lyle Plc
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Roquette Freres
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Cargill Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Plant Protein Market: Key Industry Highlights, 2018 and 2028
2. Global Plant Protein Historical Market: Breakup by Source (USD Billion), 2018-2022
3. Global Plant Protein Market Forecast: Breakup by Source (USD Billion), 2023-2028
4. Global Plant Protein Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Plant Protein Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Plant Protein Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Plant Protein Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Plant Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Plant Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Plant Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Plant Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Plant Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Plant Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Plant Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Plant Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Plant Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Plant Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Plant Protein Market Structure
Key Questions Answered in the Report
In 2020, the global plant protein market attained a value of nearly USD 9.7 billion.
The market is estimated to grow at a CAGR of 7.5% between 2023 and 2028.
The major drivers of the market include the growing end uses of the product in the food and beverage industry, the increasing prevalence of heart-related diseases, the growing cases of obesity, and the rising risk of animal-borne diseases.
The rising inclination towards health and fitness, the growing risk of animal-borne diseases, and the emergence of the e-commerce industry for rapid door-step delivery of food items are expected guide the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Algae, soy, wheat, pea, potato, oat, chickpea, and rice, among others, are the major sources of plant protein.
Food and beverage, animal feed, and supplements, among others, are the different applications of the product.
The major players in the industry are Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group, Tate & Lyle Plc, Roquette Freres, and Cargill Inc., among others.
Analyst Review
The global plant protein market attained a value of about USD 9.7 million in 2020, driven by the changing consumer preference towards clean-labelled and nutritional vegetarian products. Aided by the emergence of the e-commerce industry, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 7.5%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on source, the plant protein industry is divided into algae, soy, wheat, pea, potato, oat, chickpea, and rice, among others. On the basis of applications, the market is classified into food and beverage, animal feed, and supplements, among others. The major regional markets for plant protein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group, Tate & Lyle Plc, Roquette Freres, and Cargill Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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