The plant protein market accounted for US$ 16,653.6 Mn in 2018 and is expected to grow at a CAGR of 6.2% during the forecast period 2020 – 2027, to account to US$ 27,965.9 Mn by 2027.
North America led the plant protein market in 2018 with a share of 37.6% in 2018 and is expected to continue its dominance during the forecast period, thereby accounting for 37.3% of the total market by 2027. The market in North America is expected to grow at a CAGR of 6.2%from 2019 – 2027. Apart from North America, Europe remains the second dominant geographic segment with a share of 34.9% in 2018.
Consumers in the US and Canada are shifting their preferences toward a healthy lifestyle and prefer products that provide health benefits. Therefore, increasing health concerns among consumers drives the growth of the plant protein market in North America. Also, plant protein product manufacturing companies in North America are continuously enhancing their product portfolio to meet the customers’ demand, which is further influencing this market. While most people in North America are becoming physically active, obesity still exists as a major concern, leading to chronic cardiovascular diseases (CVD), high blood pressure, and cholesterol among masses. Due to this, most of the consumers are preferring to have plant-based food.
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- Kerry Group
- E. I. Du Pont De Nemours and Company
- Archer Daniels Midland Company
- Koninklijke DSM N.V.
- Axiom Foods, Inc.
- Cargill, Incorporated
- Roquette Frères
- Ingredion Incorporated
- Glanbia plc
- Burcon NutraScience Corporation
Global Plant Protein Market
Health Benefits Associated With Plant Protein Consumption is Driving This Market
Protein is an essential part of the diet and plays a crucial role in the structural and functional components of the human body. Plant protein is extracted from different plant sources, including soy, wheat, peas, quinoa, oats, beans, nuts, and seeds. Plant protein contains a significant amount of nutrients, including fiber, vitamins, and minerals. Plant-based diets are rich in nutrients like protein, magnesium, potassium, and vitamins K and C, which can improve muscle and bone health in people of all ages. Oat protein, a type of plant protein, contains a high amount of indispensable amino acids which helps in building muscles, cause chemical reactions in the body, transport nutrients, prevent illness, and carry out other functions. The branched-chain amino acids (BCAAs), leucine, valine, and isoleucine present in the plant protein stimulate and support muscle protein synthesis (MPS). Due to these properties plant protein is getting popular among the consumers, which is further propelling this market.
Emerging Use of Plant Protein in Sports Nutrition and Cosmetic Application is Creating Growth Opportunities for the Global Plant Protein Market
Globally, the demand for plant-based ingredients in personal care and cosmetic products is increasing. Plant-based proteins are recognized as a natural ingredient with very low allergenic effects and proven therapeutic in the personal care and cosmetic industry. Some of the plant protein offers various skin benefits such as it helps to soothe and heal the skin and reduce redness and inflammation. For instance, hydrolyzed oat protein is used for producing anti-aging and anti-wrinkle cream, which is further expected to provide a huge market potential for the key players operating in the market. Furthermore, plant protein is increasingly used in nutritional supplements that are used in sports nutrition products including supplements, protein powders, sports drinks, isotonic drink powder, capsule/tablets, supplement powder, ready-to-drink protein drinks, carbohydrate drinks, protein bars, carbohydrate/energy bars, and other supplements. The high amino acid content in plant protein helps in muscle growth and repair. This factor is expected to provide expansion opportunities for the key players operating in the market.
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Reason To Buy :
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global plant protein market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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