Plant Based Protein Market Size 2024 To 2032
- The global plant based protein market size reached USD 15.8 Billion in 2023.
- The plant based protein market size is expected to reach USD 28.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.82% during 2024-2032.
- Soy leads the market, accounting for most of the market share owing to its extensive use in various food products and excellent nutritional profile.
- Isolates represent the largest segment due to their ability to provide concentrated protein with minimal additives, appealing to health-conscious consumers.
- Conventional holds the largest share in the plant-based protein industry, driven by lower costs and widespread availability, making it accessible to a larger consumer base.
- Food represents the leading application segment spurred by the increasing popularity of plant-based diets and the demand for meat alternatives.
- North America leads the market with its robust food innovation ecosystem and strong consumer awareness of health and sustainability benefits.
- The growth of the plant-based protein market is significantly driven by rising dietary restrictions and preferences, including lactose intolerance and gluten sensitivity, prompting consumers to seek alternative protein sources.
- The increasing influence of social media and celebrity endorsements has popularized plant-based diets, encouraging younger demographics to explore and adopt these options.
Request to Get the Sample Report:
https://www.imarcgroup.com/plant-based-protein-market/requestsample
Industry Trends and Drivers:
- Health and wellness trends:
Increasing awareness of health issues associated with animal protein consumption, such as heart disease, obesity, and certain cancers, is pushing consumers toward plant-based diets. Research has consistently shown that plant proteins can reduce cholesterol levels and improve overall health. As a result, more consumers are seeking alternatives that not only provide sufficient protein but also offer additional health benefits, such as lower saturated fat content and higher fiber levels. This shift is further supported by an increase in dietary recommendations advocating for more plant-based foods.
- Environmental sustainability:
Concerns about the environmental impact of animal farming are prompting consumers to consider sustainable alternatives. The livestock industry is a major contributor to greenhouse gas emissions, deforestation, and water usage. In contrast, plant-based protein production generally requires fewer resources and has a lower environmental footprint. As sustainability becomes a critical consideration for consumers, brands are responding by developing plant-based protein products that emphasize eco-friendly practices. This alignment with sustainability goals resonates particularly with younger consumers who prioritize environmental responsibility.
- Innovation and product variety:
The plant-based protein market has seen remarkable innovation in product development. Companies are investing in research and technology to enhance the taste, texture, and nutritional profiles of plant-based proteins. Innovations such as pea, soy, and lentil protein have expanded the range of available products, from meat substitutes to dairy alternatives. This variety appeals to a broader audience, including flexitarians and those seeking to reduce meat consumption without sacrificing culinary experiences. Additionally, advancements in food technology, such as extrusion and fermentation, have enabled the creation of products that closely mimic the sensory characteristics of animal proteins, making them more attractive to traditional meat-eaters.
Plant Based Protein Market Report Segmentation:
Breakup By Source:
- Soy
- Wheat
- Pea
- Others
Soy's high protein content, versatility, and established presence in various food products contribute to its dominance in the plant-based protein market.
Breakup By Type:
- Concentrates
- Isolates
- Textured
Protein isolates offer higher purity and nutritional value, making them the preferred choice for manufacturers looking to create high-quality plant-based products.
Breakup By Nature:
- Conventional
- Organic
Conventional plant-based proteins are more widely available and cost-effective, meeting the growing demand without the premium associated with organic options.
Breakup By Application:
- Food
- Meat Alternatives
- Dairy Alternatives
- Bakery Products
- Performance Nutrition
- Convenience Foods
- Others
- Feed
Food accounts for the majority of the market share due to the growing demand for meat alternatives and protein-rich snacks.
Breakup By Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
North America's established health trends, extensive product availability, and growing interest in sustainable diets position it as the leading region for plant-based protein consumption.
Top Plant Based Protein Market Leaders:
The plant based protein market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- AGT Food and Ingredients
- Archer-Daniels-Midland Company
- Axiom Foods Inc.
- Cargill Incorporated
- Dupont De Nemours Inc.
- Glanbia plc
- Ingredion Incorporated
- Kerry Group plc
- Koninklijke DSM N.V.
- Roquette Frères
- Tate & Lyle PLC
- The Scoular Company
- Wilmar International Limited, etc.
Ask Analyst for Customized Report:
https://www.imarcgroup.com/request?type=report&id=5885&flag=C
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Website: imarcgroup.com
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
