Plant-based Protein Market to surpass $18.7 Billion by 2030, growing at a CAGR of 7.5%: Report by Exactitude Consultancy

Plant-Based Protein Market

The Exactitude Consultancy Plant-based Protein Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2030

Plant-Based Protein Market anticipates remarkable growth, propelled by the surge in plant-centric diets, health-conscious consumer preferences, and sustainable food trends globally”

— Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 7, 2023 /EINPresswire.com/ -- The “Plant-based Protein “Market Research analysis presents estimations of growth, size, and projections for each market segment, accompanied by trends and forecasts based on revenue (in USD million)

Proteins are essential muscle building blocks. Plant-based proteins have protein concentrations ranging from 50% to 85%, making them appropriate for vegan and vegetarian diets. To battle obesity and the rising prevalence of diseases as a result of changing lifestyles, demand for nutritious food will continue to rise. Increased use of plant-based protein diet plans, health and fitness clubs, and increasing education and awareness about obesity are all driving growth in the health and wellness sector. Plant-based protein stands out when compared to other protein sources since it is environmentally sustainable. Plant-based protein is gaining attention and significance among consumers seeking natural, environmentally friendly, and allergen-free goods as a result of these features. Growing concerns about animal-based goods and the environment are leading to an increase in the number of people following a flexitarian diet, which incorporates plant-based proteins as a main nutrient.

The global plant-based protein market is expected to grow at 7.5% CAGR from 2023 To 2030. It is expected to reach above USD 18.7 billion by 2030 from USD 9.8 billion in 2022.

Top companies covered in this report: DSM (Netherlands), ADM (US), DuPont (US), Kerry Group (Ireland), Cargill (US), Glanbia (Ireland), Wilmar International (Singapore), Emsland Group (Germany), Puris (US), Cosucra Group (Belgium), Batory Foods (US), Roquette Freres (France), Ingredion (US),

Recent Developments

In April 2022, ADM (US) made a investment of USD 300 million to boost the production of alternative proteins at its plant in Decatur, Illinois, which will double the facility’s soy extrusion capacity. ADM, as part of the investment, is also building a Protein Innovation Center, including labs, test kitchens, and pilot-scale production capabilities, which will boost the company’s R&D capabilities.

In April 2022, Ingredion expanded its production capacity by setting up a new manufacturing plant at Vanscoy, Canada, through the acquisition of Verdient Foods (Canada). This strategic initiative would vastly increase the company’s production capacity to produce plant-based protein.

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Plant-based Protein Market Segmentation:

Plant-Based Protein Market by Type, 2022-2029, (In USD Billion)

Isolates

Concentrates

Textured

Plant-Based Protein Market by Source, 2022-2029, (In USD Billion)

Soy

Wheat

Pea

Other Sources

Plant-Based Protein Market by Form, 2022-2029, (In USD Billion)

Dry

Liquid

Plant-Based Protein Market by Application, 2022-2029, (In USD Billion)

Food

Meat, Poultry, And Seafood

Bakery Products

Meat Alternatives

Dairy & Dairy Alternatives

Cereals & Snacks

Beverages

Animal Feed

Regional Outlook:

The report’s primary insights into various regions and the major companies involved in each one are provided in this section. When evaluating a region’s or country’s growth, economic, social, environmental, technological, and political issues have all been taken into account. Additionally, each country’s and region’s revenue and sales information for the years 2018 through 2029 will be made available to readers.

The market has been divided into four key regions: North America, Europe, Asia-Pacific, and South America. The regional part will include a thorough analysis of important nations like the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India.

North America serves as a significant production hub for plant-based protein manufacturers. Canada stands out as a leading producer of peas, hosting numerous pea processing units, while the United States plays a crucial role in soybean and wheat production. The U.S. is the world's top soybean producer and the second-largest exporter, with soybeans accounting for a substantial 90% of the country's oilseed production. In contrast, other oilseeds like peanuts, sunflower seeds, canola, and flax make up the remaining share. The highly diverse and multicultural population in Mexico also contributes to the high demand for protein-rich food and beverage products, bolstering the growth of plant-based protein offerings in the region.

Important Features of the reports:

- Detailed analysis of the Plant-based Protein market

- Fluctuating market dynamics of the industry

- Detailed market segmentation

- Historical, current and projected market size in terms of volume and value

- Recent industry trends and developments

- Competitive landscape of the Plant-based Protein Market

- Strategies of key players and product offerings

- Potential and niche segments/regions exhibiting promising growth

- A neutral perspective towards Plant-based Protein market performance.

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The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Plant-based Protein market.

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Plant-based Protein market

How big will the market and growth rate be in 2029?

What are the key drivers for the global Plant-based Protein market?

What are the major market trends influencing the growth of the global Plant-based Protein Market?

What are the challenges for market growth?

Who are the key vendors in the global Plant-based Protein market?

What market opportunities and threats are vendors facing in the global Plant-based Protein market?

What are the main findings of the five forces analysis of the global Plant-based Protein Market?

Conclusion: At the end of the Plant-based Protein Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.

Customization of the report: The report can be customized according to the client’s requirements. Get in touch with our sales experts and we’ll make sure you get a report that fits your needs.

Plant-based Protein Market to surpass $18.7 Billion by 2030, growing at a CAGR of 7.5%: Report by Exactitude Consultancy

Distribution channels: Business & Economy, Food & Beverage Industry

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