Brazil Plant Protein Market - Forecasts from 2020 to 2025

The Brazilian plant protein market is projected to reach a market size of US$458.099 million in 2025. There is a rising threat of suffering from serious diseases such as diabetes, and obesity due to the consumption of meat such as beef, pork among others. This is resulting in the awareness among the younger population and adult population in order to mitigate this threat by leading a healthier lifestyle by consuming more foods with protein from natural sources such as plants, thereby, increasing the demand for plant proteins and leading to a surge in the market growth. In addition, the welfare of animals is given good importance in Brazil, which is resulting in a significant increase in the Brazilian consumers that are reducing their consumption of meat, and meat-based foods and to turn their preference towards the food rich in proteins sourced from the plant-based alternatives.

Additionally, there has been an increase in the younger population going to the gym in order to stay fit and maintain a healthier lifestyle. This increases the daily dietary requirement of the individuals and encourages them to consume supplements such as protein isolates, which replenish the nutrients in the body and help to build the muscles faster. Thus, this factor is contributing to the growth of the market over the forecast period.

Furthermore, there are steps and actions being taken by the market players in order to encourage the adoption of plant proteins and strengthen their market position so as to fuel the market growth further over the forecast period. For example, in November 2019, Axiom Foods, one of the leading companies dealing in the provision of top-quality pea protein and rice protein and other plant protein ingredients, announced that they have entered into a distribution agreement with Univar Solutions Brazil in order to facilitate the distribution of food and beverage products. Under this agreement, Axiom Foods is going to present plant-based protein ingredients from its product portfolio in the markets of Brazil. In May 2019, NotCo, one of the leading foodtech startups, based in Chile announced that they have entered into a partnership agreement with Grupo Pão de Açúcar (GPA), a Brazilian supermarket operator, in order to offer its range of plant-based products. NotCo manufactures a chickpea-based vegan mayonnaise called the “Not Mayo” and is also involved in developing other

plant-based alternatives such as Not Milk and Not Ice cream.

Pea based plant protein is anticipated to show good growth opportunities in the forecast period.

By source, the plant-based protein market has been segmented as pea, rapeseed, soy, hempseed, and others. Pea based plant protein is expected to hold a significant market share over the forecast period, which is attributable to the fact that the demand and consumption of pea products are increasing in Brazil due to the health benefits it is able to provide. Additionally, the increasing efforts of the major players such as Milha ~o in order to encourage the consumption of protein sourced from plant-based sources are also contributing to the market share of pea protein.

Segmentation
- By Source

Pea

Rapeseed

Soy

Hempseed

Others
- By Form

Protein Concentrates

Protein Isolates

Protein Hydrolysate
- By Application

Dietary Supplement

Food and Beverages

Pharmaceuticals

Animal Feed
- By Distribution Channel

Online

Offline