Plant Protein Ingredients Market
Plant Protein Ingredients Market Forecasts to 2030 - Global Analysis By Type (Soy Protein, Pea Protein, Wheat Protein, Rice Protein, Potato Protein and Other Types), Form, Application, End User and By Geography
According to Stratistics MRC, the Global Plant Protein Ingredients Market is accounted for $13.3 billion in 2023 and is expected to reach $9.7 billion by 2030 growing at a CAGR of 25.4% during the forecast period. Plant protein ingredients are derived from various plant sources, such as peas, soy, hemp, and rice, offering a sustainable and plant-based alternative to animal proteins. Rich in essential amino acids, vitamins, and minerals, they cater to the growing demand for plant-based diets. Used in food and beverage products, including plant-based meats, dairy alternatives, and nutritional supplements, plant protein ingredients provide health benefits and support environmental sustainability.
According to reports from the European Vegetable Protein Association (EUVEPRO), wheat proteins are abundant in sulfur-rich amino acids, making them suitable for creating well-balanced protein supplements when combined with pulse proteins for both human and pet food
Market Dynamics:
Driver:
Increasing awareness of health and sustainability
Consumers, recognizing the health benefits of plant-based diets and concerned about the environmental impact of animal agriculture, are actively seeking sustainable and nutritious alternatives. This awareness drives the demand for plant protein ingredients, fostering a shift towards plant-centric diets. Furthermore, food manufacturers respond with innovative products, including plant-based meats and dairy alternatives, further propelling market growth.
Restraint:
Allergies associated with plant-based protein sources
Plant-based foods and beverages offer various health benefits and essential minerals, but their consumption has been associated with allergies in some cases, which hinders market growth. For instance, soybeans are packed with nutrients like vitamins, minerals, and proteins, but they can trigger allergies due to the presence of anti-nutritional components. Moreover, allergic reactions to gluten in the diet cause inflammation and damage to the inner lining of the small intestines in celiac disease. Therefore, allergies associated with certain plant-based ingredients are expected to limit the growth of the plant-based protein industry in the forecast period.
Opportunity:
Advances in processing and formulation
Continuous innovation enhances the taste, texture, and overall quality of plant-based products, addressing historical challenges. Improved processing technologies contribute to creating more appealing and palatable plant protein ingredients, expanding consumer acceptance. This results in a broader range of innovative plant-based products, such as realistic meat substitutes and dairy alternatives, fostering market growth.
Threat:
Economic constraints related to processing capacity of pea protein
The use of pea as a source of plant-based protein has seen a notable uptick, but manufacturers of pea protein face a significant challenge due to a lack of processing capacity. The economic feasibility of the process hinges on whether the protein or starch is sold, and selling the protein without incurring losses on the starch could be profitable. While some food manufacturers, especially those producing products like veggie burgers, have relied on soybean protein due to lower costs and a stable supply, premium food product makers have turned to pea protein to meet consumer expectations for a niche ingredient known for its health benefits, hypoallergenic properties, and other functional qualities hamper the market growth.
Covid-19 Impact
While the pandemic initially disrupted supply chains and posed manufacturing challenges, the growing interest in health and sustainable diets bolstered demand for plant-based alternatives. Consumers, increasingly focused on immunity and wellness, turned to plant protein ingredients found in products like plant-based meats and dairy alternatives. The pandemic accelerated the adoption of plant-based diets, creating opportunities for market growth.
The soy protein segment is expected to be the largest during the forecast period
The soy protein segment is estimated to have a lucrative growth, due to versatile and nutritionally rich alternative in various food products. Its popularity in plant-based meats, dairy alternatives, and nutritional supplements is bolstered by its complete amino acid profile and health benefits. Thus as consumers increasingly adopt plant-based diets, the demand for soy protein escalates.
The meat alternatives segment is expected to have the highest CAGR during the forecast period
The meat alternatives segment is anticipated to witness the highest CAGR growth during the forecast period, as consumers increasingly seek sustainable and plant-based protein sources, ingredients derived from peas, soy, and other plants are in high demand. These ingredients play a pivotal role in creating meat substitutes such as burgers, sausages, and nuggets. The market experiences substantial growth as the plant protein trend aligns with health-conscious and environmentally aware consumer preferences encourage the market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increased demand for sustainable and vegetarian protein sources, especially in countries like China and India, drives the market. Plant protein ingredients find extensive use in food and beverage applications, including snacks, dairy alternatives, and sports nutrition. Industry players are investing in research and development to introduce innovative plant protein products. Regulatory support and a growing population emphasizing healthy lifestyles contribute to the expanding market
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to Canada which 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. 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.
Key players in the market
Some of the key players in the Plant Protein Ingredients Market include AMCO Proteins, Kerry Group, Batory Foods, Axiom Foods Inc., Glanbia PLC, A&B Ingredients, The Scoular Company, ABH Pharma Inc., Sun Brothers, LLC, NutraScience Labs, Archer Daniel Midland Company, Arla Food Ingredients, Cargill Incorporated, Reliance Private Label Supplements, Ingredion Incorporated, Cambridge Commodities Inc, PLT Health Solutions and Jungbunzlauer Suisse AG
Key Developments:
In January 2024, ADM global leader in sustainably sourced solutions from nature announced that it has loaded and shipped its first vessels of verified, fully traceable soybeans from the U.S. to Europe.
In January 2024, AMCO Proteins launches innovative clean label dough conditioner. HG-80 provides functional benefits at low usage rates to many baked products like breads, rolls, flatbreads, pizza crusts, crackers, cookies and flour tortillas.
In December 2018, Kerry to expand its clean label offering through new partnership with Renaissance BioScience. Kerry has signed a license agreement with Renaissance BioScience Corp to supply Renaissance's Acryleast, a non-GMO acrylamide-reducing yeast enzyme, to food and beverage manufacturers.
Types Covered:
• Soy Protein
• Pea Protein
• Wheat Protein
• Rice Protein
• Potato Protein
• Other Types
Forms Covered:
• Concentrates
• Isolates
• Textured Proteins
• Bars
• Hydrolyzed
• Other Forms
Applications Covered:
• Meat Alternatives
• Dairy-Free Beverages
• Pre-Workout Supplements
• Meal Replacement Shakes
• Other Application
End Users Covered:
• Nutraceutical & Dietary Supplement Industry
• Sports & Fitness Industry
• Food Service & Hospitality
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Plant Protein Ingredients Market, By Type
5.1 Introduction
5.2 Soy Protein
5.3 Pea Protein
5.4 Wheat Protein
5.5 Rice Protein
5.6 Potato Protein
5.7 Other Types
6 Global Plant Protein Ingredients Market, By Form
6.1 Introduction
6.2 Concentrates
6.3 Isolates
6.4 Textured Proteins
6.5 Bars
6.6 Hydrolyzed
6.7 Other Forms
7 Global Plant Protein Ingredients Market, By Application
7.1 Introduction
7.2 Meat Alternatives
7.3 Dairy-Free Beverages
7.4 Pre-Workout Supplements
7.5 Meal Replacement Shakes
7.6 Other Application
8 Global Plant Protein Ingredients Market, By End User
8.1 Introduction
8.2 Nutraceutical & Dietary Supplement Industry
8.3 Sports & Fitness Industry
8.4 Food Service & Hospitality
8.5 Other End Users
9 Global Plant Protein Ingredients Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 AMCO Proteins
11.2 Kerry Group
11.3 Batory Foods
11.4 Axiom Foods Inc.
11.5 Glanbia PLC
11.6 A&B Ingredients
11.7 The Scoular Company
11.8 ABH Pharma Inc.
11.9 Sun Brothers, LLC
11.10 NutraScience Labs
11.11 Archer Daniel Midland Company
11.12 Arla Food Ingredients
11.13 Cargill Incorporated
11.14 Reliance Private Label Supplements
11.15 Ingredion Incorporated
11.16 Cambridge Commodities Inc
11.17 PLT Health Solutions
11.18 Jungbunzlauer Suisse AG
List of Tables
1 Global Plant Protein Ingredients Market Outlook, By Region (2021-2030) ($MN)
2 Global Plant Protein Ingredients Market Outlook, By Type (2021-2030) ($MN)
3 Global Plant Protein Ingredients Market Outlook, By Soy Protein (2021-2030) ($MN)
4 Global Plant Protein Ingredients Market Outlook, By Pea Protein (2021-2030) ($MN)
5 Global Plant Protein Ingredients Market Outlook, By Wheat Protein (2021-2030) ($MN)
6 Global Plant Protein Ingredients Market Outlook, By Rice Protein (2021-2030) ($MN)
7 Global Plant Protein Ingredients Market Outlook, By Potato Protein (2021-2030) ($MN)
8 Global Plant Protein Ingredients Market Outlook, By Other Types (2021-2030) ($MN)
9 Global Plant Protein Ingredients Market Outlook, By Form (2021-2030) ($MN)
10 Global Plant Protein Ingredients Market Outlook, By Concentrates (2021-2030) ($MN)
11 Global Plant Protein Ingredients Market Outlook, By Isolates (2021-2030) ($MN)
12 Global Plant Protein Ingredients Market Outlook, By Textured Proteins (2021-2030) ($MN)
13 Global Plant Protein Ingredients Market Outlook, By Bars (2021-2030) ($MN)
14 Global Plant Protein Ingredients Market Outlook, By Hydrolyzed (2021-2030) ($MN)
15 Global Plant Protein Ingredients Market Outlook, By Other Forms (2021-2030) ($MN)
16 Global Plant Protein Ingredients Market Outlook, By Application (2021-2030) ($MN)
17 Global Plant Protein Ingredients Market Outlook, By Meat Alternatives (2021-2030) ($MN)
18 Global Plant Protein Ingredients Market Outlook, By Dairy-Free Beverages (2021-2030) ($MN)
19 Global Plant Protein Ingredients Market Outlook, By Pre-Workout Supplements (2021-2030) ($MN)
20 Global Plant Protein Ingredients Market Outlook, By Meal Replacement Shakes (2021-2030) ($MN)
21 Global Plant Protein Ingredients Market Outlook, By Other Application (2021-2030) ($MN)
22 Global Plant Protein Ingredients Market Outlook, By End User (2021-2030) ($MN)
23 Global Plant Protein Ingredients Market Outlook, By Nutraceutical & Dietary Supplement Industry (2021-2030) ($MN)
24 Global Plant Protein Ingredients Market Outlook, By Sports & Fitness Industry (2021-2030) ($MN)
25 Global Plant Protein Ingredients Market Outlook, By Food Service & Hospitality (2021-2030) ($MN)
26 Global Plant Protein Ingredients Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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