Market Size of united states plant protein Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 4.21 Billion |
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Market Size (2029) | USD 5.02 Billion |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 3.62 % |
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Fastest Growing by End User | Supplements |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United States Plant Protein Market Analysis
The United States Plant Protein Market size is estimated at 4.21 billion USD in 2024, and is expected to reach 5.02 billion USD by 2029, growing at a CAGR of 3.62% during the forecast period (2024-2029).
4.21 Billion
Market Size in 2024 (USD)
5.02 Billion
Market Size in 2029 (USD)
5.43 %
CAGR (2017-2023)
3.62 %
CAGR (2024-2029)
Largest Market by Product Type
68.12 %
value share, Soy Protein, 2023
Soy proteins overpower all the plant protein types due to their high protein content, low viscosity, solubility, etc., catering to extensive applications in all the sectors.
Largest Market by End User
54.21 %
value share, Food and Beverages, 2023
The F&B segment leads the market, majorly driven by the bakery and dairy alternative sector. The wider functionalities of soy and wheat proteins further drive the F&B segment.
Fastest Growing Market by Product Type
5.28 %
Projected CAGR, Pea Protein, 2024-2029
Pea protein is projected to witness higher growth rate owing to increasing demand from meat substitutes end user segment and growing acceptance among food processors.
Fastest Growing Market by End User
6.49 %
Projected CAGR, Supplements, 2024-2029
The rising consumer focus on fitness and sports is anticipated to drive the segment. Among all, the preference for soy-based supplements further propells the segment's growth.
Leading Market Player
18.78 %
market share, Archer Daniels Midland Company, 2021
Archer Daniels Midland Company holds the largest market share. The company focuses on extending its consumer base, and it has collaborated with local clients for the same.
F&B and Animal feed together accounted for more than 50% of share in 2022, due to rising veganism coupled with growing preference for plant-based foods as a sustainable alternative.
- The food and beverage segment witnessed the highest demand, followed by animal feed, in 2022. The food and beverages segment grew, registering a CAGR of 4.11% by value during the study period. The rising utilization of plant proteins in animal feed and cosmetics has driven growth in recent years. The high usage of protein types in feed composition, such as soy, wheat, and pea drives the animal feed market. The increase in demand for plant proteins in dairy and meat alternatives will drive the segment during the forecast period.
- The food and beverages sector applications drive the demand for plant proteins in the country, and they registered a volume share of 54.2% in 2022. This was majorly due to the increasing preference for plant-based foods as a sustainable alternative. The meat alternative products sub-segment is witnessing huge demand from food and beverages applications, with a share of 38.03% by volume in 2022, followed by the dairy alternative products sub-segment. The rapid expansion of plant-based meats, which are now widely available in grocery stores and offered in fast-food restaurants, makes these diets more convenient and easier to maintain.
- Supplements are anticipated to be the fastest-growing sector in the market, registering a CAGR of 6.30% during the forecast period, owing to their immense health benefits. Plant protein powder is rich in fiber and is more nutrient dense than dairy protein powder, making it a suitable alternative to casein and whey powder. Plant proteins, such as rice and peas, are gaining popularity for being hypoallergenic and a nutritious alternative for people suffering from lactose intolerance. In 2022, 36% of the US population was lactose-intolerant people, leading to high demand for alternative proteins.
Understand The Key Trends Shaping This Market
