Market Trends of north america plant protein ingredients Industry
Plant protein consumption growth fuels opportunities for key players in the ingredients sector
- The per capita consumption of plant protein in the region registered an increase of 2.42% from 2017 to 2022, supported by both investment and innovation. This increase was mainly due to the rise in the rate of consumers turning vegan or vegetarian in a bid to ensure animal welfare. For instance, the number of Americans following plant-based diets has increased by roughly 9.6 million people, accounting for nearly 3% of the population in the United States in 2020. After the COVID-19 pandemic, plant protein consumption skyrocketed for various reasons, including the fear of processing contamination by the virus in animal-sourced proteins and the hike in consumption of protein combinations, including animal and plant proteins or a combination of distinct plant proteins.
- Most Americans eat less meat, but they do not eliminate their consumption entirely. They also tend to be more flexitarian than vegan or vegetarian. The usage of plant protein is mainly observed in sports nutrition and meat alternatives. Soy and whey proteins are used primarily in the food and beverage, supplement, and sports nutrition industries. In 2021, around 36% of consumers were familiar with soy protein and had consumed the same, whereas 31% of individuals consumed whey protein in the U.S.
- Flexitarian is the second-largest dietary group in Canada. The percentage of consumers becoming flexitarian or vegan offers manufacturers enough opportunities to introduce and innovate more in the plant protein segment. In 2021, the Canadian government announced an investment of more than USD 4.3 million to support Canada’s pulse and special crop farmers to meet the growing consumer demand for sustainable, high-quality plant-based protein.
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Soy, wheat, and rice production contributes majorly as raw material for plant protein ingredients manufacturers
- The graph given depicts the total production of raw materials such as dry peas, rice, wheat, and soya beans. In North America, the U.S. is the key producer of some plant protein raw materials. The U.S. produces about one-third of the total soybean in the world, followed closely by Brazil and Argentina. In 2021, the country produced 119.88 million MT of soybean accounting 31% shares of the global soybean production. Soybeans are the third-largest field crop in Canada. Predominantly, soybean has become an important cash crop in cities like Quebec and Manitoba, Maritimes, southeast Saskatchewan, and southern Alberta. Presently, Canada is the producer of 200 registered soybean varieties. Among those registered varieties, 80% of soybeans are herbicide-tolerant.
- The U.S. is also the wheat-producing leader in the region, followed by Canada, with both countries accounting for almost 100% of the regional wheat production. Wheat ranks third among U.S. field crops in planted acreage, production, and gross farm receipts—behind corn and soybeans. In marketing year 2023/24, U.S. farmers produced a total of 1.8 billion bushels of winter, durum, and other spring wheat from a harvested area of 37.3 million acres. Winter wheat production represents nearly 70 percent of total U.S. production. Similarly, in 2023, Canadian farmers grew almost 32 million tonnes of wheat
- Arkansas Grand Prairie, Mississippi Delta, Gulf Coast, Sacramento Valley of California are four regions producing almost the entire U.S. rice crop. Each of these regions normally specializes in a specific type of rice, referred to in the United States by length of grain, i.e., long, medium, and short. In general, long-grain production accounts for approximately 75 percent of U.S. rice production.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Organic baby food to drive the market in the future
- Fortified beverage to witness a rise in sales during forecast period
- Hike in single-serve packets’ demand may augment production
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Steady demand from united sates to support market
- Large commercial players lead the growth of the bakery industry
- Consumer shift toward low-carb diets poses a threat to the market growth
- Key players to focus fortification and nutritional enrichment
- Emphasizing awareness and innovation; driving force behind elderly nutrition market growth
- E-commence will emerge as one of the most preferred channels
- Sport/performance nutrition to witness significant growth during forecast period
- Cosmetic industry to drive by synergy of innovation and social media influence
