Plant Protein Market - Growth, Trends and Forecast (2020 - 2025)

Global Plant Protein Market report is segmented by Product Type (Algae, Hemp, Soy, Wheat, Pea, Potato, Oat, Chickpea, Rice and, Lupin); by Application (Food and Beverage, Animal Feed, Supplements, and others); and by Geography.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

South America

Largest Market:

North America

CAGR:

7.31 %

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Market Overview

Global plant protein market is projected to grow at a CAGR of 7.31% during the forecast period (2020 - 2025).

  • Changing dietary preferences among consumers is evident globally, and the low inclination toward meat and meat-based products is visible among European and North American consumers. The percentage of the consumer becoming more of flexitarian or vegan at most is offering enough opportunities for manufacturers to introduce and innovate more in the plant protein segment. Over the past years, the segment has provided positive Y-o-Y growth for manufacturers.
  • Soy holds a major market share in the market, the rapid escalation of pea and legumes protein drives the industry toward a new source that requires a higher volume of production. The need for eradicating global hunger does not involve around seeking the alternative but combining the multiple alternative from diverse sources to balance the supply. Therefore, plant protein mixed with that of algae will eventually provide opportunities in the short term.

Scope of the Report

The market studied is segmented by product type, application, and geography. Based on product type, the market studied has been segmented into algae, hemp, soy, wheat, pea, potato, oat, chickpea, rice, and lupin. Moreover, based on the application, the market studied is segmented into food and beverage, animal feed, supplements, and other applications.

Also, the study provides an analysis of the market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East and Africa.

By Product Type
Algae
Hemp
Soy
Wheat
Pea
Potato
Oat
Chickpea
Rice
Lupin
By Application
Food and Beverage
Animal Feed
Supplements
Other Applications
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
France
Germany
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Increasing Incidences of Intolerance for Animal Protein

The National Institute of Allergy and Infectious Diseases reveal that more than majority of the food allergy is caused by eggs, milk, fish, and red meat. Due to animal protein allergies, most of the meat consumers are inclined toward meat substitutes made of vegan protein, which ultimately drives the plant protein market. According to the reference list of allergen data collection, the allergen from chicken meat ranges from 0.5-5% in Southern Europe. Pea protein, recognized as a complete protein can be incorporated into several egg-based products, like pasta, vermicelli, cakes, and cookies. According to the United States Center for Disease Control and Prevention, 12.2 million people are suffering from a food allergy, of which two-thirds is associated with egg allergy.

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Highest Consumption of Plant Protein in North America

According to Mordor Intelligence analysis, the share of North American plant protein market was 38% in 2019. The demand for plant proteins is growing at a fast rate, owing to change in lifestyle, lack of balanced dietary intake, and improved R&D, in order to develop new kinds of plant-protein enriched products. The United States continues to capture the largest market share for plant protein, followed by Canada and Mexico. The demand for processed and low cholesterol foods have paved the way for the plant-based protein market, in the region. Nowadays, consumers around the world are switching to other alternative products, such as green label food products, coupled with raising awareness of healthy and plant-based products thus, driving the market forward.

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Competitive Landscape

Archer Daniels Midland Company, DuPont de Nemours Inc., and Kerry Group dominate the market studied. In order to increase their market share, companies are focusing on new innovative products, For instance, in December 2019, DuPont Nutrition & Biosciences built a new plant-based solution, Danisco Planit. It comprises a comprehensive portfolio of plant proteins, cultures, probiotics, enzymes, and stabilizing solutions that deliver all-round nutritional and functional benefits.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Algae

      2. 5.1.2 Hemp

      3. 5.1.3 Soy

      4. 5.1.4 Wheat

      5. 5.1.5 Pea

      6. 5.1.6 Potato

      7. 5.1.7 Oat

      8. 5.1.8 Chickpea

      9. 5.1.9 Rice

      10. 5.1.10 Lupin

    2. 5.2 By Application

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Animal Feed

      3. 5.2.3 Supplements

      4. 5.2.4 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Germany

        5. 5.3.2.5 Russia

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Archer Daniels Midland company

      2. 6.4.2 DuPont de Nemours Inc.

      3. 6.4.3 Kerry Group

      4. 6.4.4 The Scoular Company

      5. 6.4.5 Cooke Inc. (Omega Protein Corporation)

      6. 6.4.6 Roquette Freres

      7. 6.4.7 Royal Avebe UA

      8. 6.4.8 PURIS

      9. 6.4.9 Cargill Incorporated

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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