Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to 2028

Plant-based Protein Market by Stage (Soy Protein, Wheat Protein, Pea Protein, Canola Protein, Potato Protein, Rice Protein, Corn Protein), Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals) -Global Forecast to 2028

The research report titled “Plant-based Protein Market by Stage (Soy Protein, Wheat Protein, Pea Protein, Canola Protein, Potato Protein, Rice Protein, Corn Protein), Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals) -Global Forecast to 2028” provides in-depth analysis of plant-based protein market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. The Global Plant-Based Protein Market is expected to reach $23.4 billion by 2028, growing at a CAGR of 9.7% during the forecast period of 2021 to 2028.

The growth of this market is mainly attributed to the growing demand for protein-rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from the food & beverage industry, and various advancements in ingredient technologies such as microencapsulation are the key factors driving the growth of the plant-based protein market.

The study offers a comprehensive analysis of the global plant-based protein market with respect to type (soy protein {soy protein concentrates, soy protein isolate, textured soy protein, and soy flour, grits, chunks}, wheat protein {vital wheat gluten, wheat protein isolate, hydrolyzed wheat protein, and textured wheat protein}, pea protein {pea protein isolate, pea protein concentrate, and others}, canola protein, potato protein, rice protein, corn protein, and others), crop type (genetically modified organism crops and non-genetically modified organism crops), source process (conventional plant-based protein ingredients and organic plant-based protein ingredients), application (food and beverages {meat, poultry, & seafood; bakery; meat analog; dairy & dairy alternatives; cereals & snacks; beverages; and others}, animal feed, nutrition and health supplements, pharmaceuticals, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.

Based on type, the global plant-based protein market is mainly segmented into soy, wheat, pea, canola, potato, rice, corn, and others. The soy protein segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to higher consumer acceptance level, presence of a large number of manufactures and their high scale of production, low cost than other types of plant proteins, increased demand for plant-based products, easy availability of raw materials, and a large number of applications in various industries. However, the pea protein segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on application, the global plant-based protein market is mainly segmented into food and beverages, animal feed, nutrition and health supplements, pharmaceuticals, and others. The food and beverage segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplement segment is expected to witness significant growth.

Geographically, the plant-based protein market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The North American region is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this region is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

Key questions answered in the report-

• Which are the high growth market segments in terms of the type, crop type, source process, form, application, and countries?
• What is the historical market for plant-based protein across the globe?
• What are the market forecasts and estimates for the period of 2021-2028?
• What are the major drivers, restraints, challenges, trends, and opportunities in the global plant-based protein market?
• Who are the major players in the global market, and what share of the market do they hold?
• Who are the major players in various countries, and what share of the market do they hold?
• How is the competitive landscape?
• What are the recent developments in the global plant-based protein market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global plant-based protein market, and how do they compete with the other players?

Scope of the Report

Plant-based Proteins Market, by Type

• Soy Protein
• Soy Protein Concentrates
• Soy Protein Isolates
• Textured Soy Protein
• Soy Flour, Grits, and Chunks
• Wheat Protein
• Vital Wheat Gluten
• Wheat Protein Isolates
• Hydrolysed Wheat Protein
• Textured Wheat Protein
• Pea Protein
• Pea Protein Isolate
• Pea Protein Concentrate
• Others
• Canola Protein
• Potato Protein
• Rice Protein
• Corn Protein
• Others

Plant-based Proteins Market, by Crop Type

• Genetically Modified Organism Crops
• Non- genetically Modified Organism Crops

Plant-based Proteins Market, by Source Process

• Conventional Plant-Based Protein Ingredients
• Organic Plant-Based Protein Ingredients

Plant-based Proteins Market, by Form

• Solid (Dry)
• Liquid

Plant-based Proteins Market, by Application

• Food and Beverages
• Meat, Poultry, & Seafood
• Bakery
• Meat Analogue
• Dairy & Dairy Alternatives
• Cereals & Snacks
• Beverages
• Others
• Animal Feed
• Nutrition & Health Supplements
• Pharmaceuticals
• Others

Plant-based Proteins Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific (RoAPAC)
• Rest of the World
• Latin America
• Middle East & Africa