QY research has released a new report, titled “Global Plant Protein Market Report, History and Forecast 2014-2025”, that has been experiencing a noteworthy growth over the forecast period of 2019-2025. The plant protein market is likely to grow to a CAGR of 6.30% during the period of forecast to attain a market value of US$6950 mn by the end of 2025 from US$4530 mn in the year 2018. Plant proteins are considered to be a healthy substitute to animal or dairy products, which is expected to support the growth of the market in the forthcoming years.
Global Plant Protein Market: Drivers
The plant protein market is likely to witness significant growth due to a growing demand for high nutrition profiles of pea and soy proteins and increasing demand for healthy food products. Customers are inclined towards plant-based protein because of its high nutritional value, easy digestibility, and because it’s a sustainable source of protein. Plant protein ingredients are mainly used in the pharmaceutical industry, food and beverages industry, and sports nutrition products to provide a healthy diet to consumers.
In addition, increasing awareness regarding the adverse effects of red meat has resulted in shifting interest of consumers towards plant-based protein as an alternative, which is driving the growth of the market. Mounting demand of consumers towards a vegan diet is also expected to propel the market growth in the near future.
Moreover, rising e-commerce industry is one of the key factors that is propelling the sale of nutritional supplements. Retailers are focusing on increasing online shopping through better online education and target marketing.
Global Plant Protein Market: Segment Analysis
The global market for plant protein is segmented into product type and applications. The application segment includes pharmaceuticals & personal care and food & beverages, animal feed, and others. The product type segment includes pea protein, soy protein, wheat protein, and others. Soy protein is the leading segment in the plant protein market. The pea protein segment is also witnessing significant growth due to the rising awareness of a high nutritional value.
Global Plant Protein Market: Regional Outlook
North America is the leading regional market due to a shifting preference of consumers towards substitute products. The growing demand for green-labeled products and growing awareness of healthy diets is also projected to bode well for the market. Asia Pacific is also estimated to grab a remarkable market share due to the growing urban population and mounting research and development activities to developed enriched products in this region.
Global Plant Protein Market: Key Players
Gushen Group, ADM, Glico Nutrition, Cargill, Glanbia Nutritionals, DuPont, CHS, Kerry Group, Cosucra, Manildra, Axiom Foods, Roquette, and Tereos are the top players that are operating in the global plant protein market.
Global Plant Protein Market: Competitive Landscape
Archer Daniels Midland (ADM) has announced the formation of its new business unit named Ag Services & Oilseeds that combines ADM’s Origination and Oilseed business operations into a single reporting structure, with effective from July 1. Players are focusing on the business expansion strategies to combat intense competition.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076597/global-plant-protein-market