The plant-based protein market is projected to grow at rapid speed Plant-based protein products are derived from plant sources such as soy, wheat, and pea. Plant-based proteins are used in protein beverages, dairy alternatives, meat alternatives, proteins bars, nutrition supplements, processed meat, poultry & seafood, bakery, food, and sports nutrition products to enhance their nutritional and functional properties, such as texturing, emulsifying, solubility, stabilizing, and binding.
The soy segment is projected to dominate the market during the forecast period. This segment is driven by the increasing popularity and rising demand for a high-protein diet among individuals. Soy protein helps to reduce the cholesterol level, improve metabolism, bone mineral density, and also decrease the risk of cancer. Soy protein isolates are used in applications such as nutritional bars, meat alternatives, bakery products, sports nutrition products, and beverages.
The isolates segment is projected to dominate the plant-based protein market during the forecast period. Protein isolates contain a higher amount of protein along with greater digestibility. Isolates are demanded widely in protein and nutrition-oriented applications such as sports nutrition, protein beverages, and nutrition supplements. In recent years, they have been required more from athletes, bodybuilders, vegetarians, and have gained an extensive application in various beverages and dairy products, due to their different functional properties.
Owing to the increasing awareness for healthy food ingredients and the trend of weight management among consumers is projected to drive the plant-based meat market in North America Plant-based proteins are highly versatile and can be used in applications such as meat analogs and meat extenders. According to research conducted by key players in the market and government surveys, it has been recorded that consumers are demanding meat alternatives to reduce their meat consumption. This has resulted in a decrease in the demand for meat.
The key players in this market include Cargill (US), Archer Daniels Midland Company (US), DowDuPont (US), Glanbia Plc (Ireland), Kerry Group (Ireland), Tate & Lyle PLC (UK), Ingredion Incorporated (US), Burcon NutraScience Corporation (Canada), Royal DSM N.V, (Netherlands), Sotexpro S.A. (France), Axiom Foods (US), and The Scoular Company (US).
Key Questions Addressed by the Report
· What are the new product areas the plant-based protein companies are exploring?
· Which are the key players in the plant-based protein market and how intense is the competition?
· What kind of competitors and stakeholders, such as plant-based protein companies, would be interested in this market? What will be their go-to-market strategy, and which emerging market will be of significant interest?
· How are the current R&D activities and M&A’s in the plant-based protein market projected to create a disrupting environment in the coming years?
· What will be the level of impact, on the revenues of stakeholders, of the benefits of plant-based protein to different stakeholders‒‒from rising revenue, environmental regulatory compliance, to sustainable profits for the suppliers?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Rise in Trend of Health and Sustainability
3.1.2. Innovations in Terms of Integrating Plant-Based Proteins With Meat and Poultry Products
3.1.3. Increase in Cases of Lactose Intolerance and Milk Allergies
3.1.4. Growth in Investments in Plant-Based Food Businesses
3.1.5. Social Media Trends to Sway More Consumers Toward Plant-Based Proteins
3.2.1. Allergies Associated With Plant-Based Protein Sources Such as Soy and Wheat.
3.2.2. Increase in Production of and Adulteration With Genetically Modified (GM) Soybean
3.2.3. Unpleasant Flavor of Soy Products
3.3.1. Constant Rise in Demand for Food With Organic Ingredients
3.3.2. Immense Opportunity in the Need for Alternative Solutions to Meet the Increasing Meat
4. Executive Summary
5. Plant-Based Protein Market, By Source
6. Plant Based Protein Market, By Application
6.1. Protein Beverages
6.2. Dairy Alternatives
6.3. Meat Alternatives
6.4. Protein Bars
6.5. Nutrition Supplements
6.6. Processed Meat, Poultry & Seafoods
6.7. Bakery Products
6.8. Convenience Foods
6.9. Sports Nutritions
7. Plant Based Protein Market, By Type
7.3. Protein Flour
8. Plant Based Protein Market, By Region
8.1. North America
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.4. Australia & New Zealand
8.3.5. Rest of Asia Pacific
8.4. Rest of the World
8.4.1. South America
8.4.2. Middle East & Africa
9. Company Profiles
9.7. Tate & Lyle
9.8. Royal DSM
9.9. Burcon Nutrascience Corporation
9.10. The Scoular Company
9.11. Axiom Foods
9.12. Sotexpro S.A
10. Conclusion and Recommendations
11.2. Related Reports