The Plant

The global plant-based protein market enjoyed a year-on-year (YOY) growth of 6.7% in 2021 to total sales of USD 11.3 Bn and is projected to surpass USD 22.5 Bn in 2032 at a CAGR of 7.2%, according to a market analysis performed by Future Market Insights.

A variety of opportunities will arise for the market for plant-based proteins as a result of rising productivity in the food and beverage industry. The global plant-based protein market is divided into soy, wheat, pea, potato, rice, canola, corn, and other product categories based on the type of protein they contain. It is anticipated that the soy protein category will hold the biggest proportion of the global plant-based protein market.

According to the report, the increasing incidence of health issues such as diabetes, blood pressure, and obesity is encouraging consumers to opt for a healthy lifestyle. Therefore, they are more demand for dietary supplements and functional foods that contain plant-based proteins.

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Demand for Preventative Healthcare, Especially Due to the Recent Outbreak of Deadly Viruses to boost growth

The majority of the population is health conscious and aware of the benefits of preventive healthcare. Various magazines and online forums such as Livestrong.com, bodybuilding.com, Men's Health magazine, and Shape magazine, offer diet and lifestyle information and provide regular updates in this regard. Similarly, manufacturers of natural ingredient-based protein are promoting various products using various channels such as online portals, magazines, and marketing campaigns to improve demand for plant-protein-enriched products.

These strategies of players primarily focus on new product development and enhanced safety, effectiveness and primarily health benefits such as the ability to lower cholesterol, lower body weight, and lower blood pressure levels. This is expected to aid in market growth in the region.

Also consumers have become increasingly conscious about the food they eat. Rumors linking coronavirus with consumption of meat and meat protein are likely to influence their perception regarding food they eat. As a result of this, the demand for plant-based protein is likely to surge in the coming years.

Who is winning?

Some of the major players in the plant-based protein that are covered in this report are Glanbia Plc, Archer-Daniels Midland Co., Roquette Freres, Cargill Incorporation, Burcon Nutrascience Corporat, E.I. du Pont de Nemours & Co, Cosucra Groupe Warcoing, Ingredion Inc, and CHS Inc, AGT Food & Ingredients, Inc.

These market players have a strong networked and secure clientele with main focus on increasing its product offering and portfolio with complete solutions to its customers including production, formulation of blend, packaging and transportation as well.

In addition to this, market players are more into mergers and acquisition to improve their product offering. Companies intend to expand their regional footprint through strategic collaborations.

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PLANT-BASED PROTEIN MARKET SEGMENTATION

The global Plant-based protein Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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