Global Plant-based Protein Market Forecast, 2030
The global plant-based proteins market is on an upward trajectory, fueled by increasing awareness of the health and environmental advantages associated with plant-based diets. According to Vynz Research, the market is projected to reach a staggering USD 23.5 billion by 2030, with a remarkable Compound Annual Growth Rate (CAGR) of 72.84%.
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Key Market Drivers
- Rising Awareness of Health Benefits
- Consumers are becoming increasingly conscious of the health advantages linked to plant-based proteins. These proteins are low in saturated fat and cholesterol while being rich in fiber and essential nutrients.
- Environmental Concerns
- The environmental impact of animal agriculture is a growing concern, prompting consumers to seek more sustainable food alternatives. Plant-based proteins offer a significantly lower environmental footprint compared to animal proteins.
- Growing Vegan and Vegetarian Populations
- The global surge in the number of vegans and vegetarians is fueled by concerns about animal welfare and environmental sustainability. This shift in dietary preferences is a key driver for the increasing demand for plant-based protein products.
Market Segmentation
The global plant-based proteins market is segmented based on various factors:
Type
- Plant-based proteins are available in three main types: isolates, concentrates, and textured.
- Isolates: The purest form.
- Concentrates: Contain a higher proportion of other nutrients.
- Textured: Designed to mimic the texture of meat.
Source
- Common sources include soy, pea, wheat, and others.
- Soy: Widely used, accounting for a significant market share.
- Pea: Gaining popularity due to hypoallergenic properties and high digestibility.
Form
- Available in both dry and liquid forms.
- Dry forms: Commonly used in food and beverage products.
- Liquid forms: Used in sports nutrition and other supplements.
Application
- Primary applications in the food and feed industries.
- Used to create various products, including meat analogs, dairy alternatives, and protein powders.
Region
- Dominated by North America and Europe, with Asia Pacific expected to be the fastest-growing region.
Key Market Players
Several major players operate in the global plant-based proteins market:
- Archer Daniels Midland Company
- Cargill Incorporated
- E.I. du Pont de Nemours and Company
- Glanbia Plc
- Ingredion Inc.
- Kerry Group Plc
- Roquette Frères
- Tate & Lyle Plc
Future Outlook
The future of the global plant-based proteins market looks promising. With the factors mentioned above continuing to drive growth, the market is expected to expand robustly. As consumers become more informed about the health and environmental benefits of plant-based proteins, the demand for these products is poised to soar.
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