Market Trends of united states plant protein Industry
Plant protein consumption growth fuels opportunities for key players in the ingredients sector
- The per capita consumption rate of plant proteins is increasing at a considerable rate in the United States, supported by investments and innovations, resulting in a consumption rate of 40.28 grams per day, primarily due to a rising number of consumers turning vegan to promote animal welfare. This is because factory farming, where animals are maltreated, is a norm in the United States. Most Americans eat less meat and animal products, but they do not eliminate their consumption entirely. They also tend to be more flexitarian than vegan or vegetarian. Nearly 12% of consumers in the country prefer a plant-based diet, whereas 7% of consumers follow a flexitarian diet. Although consumers of all generations in the United States are interested in plant-based meals, individuals in their 20s and 30s are the keenest to adopt plant-based diets.
- There is a constant rise in the per capita consumption of pea protein due to its wide applications in different food products, like meat, poultry, and bakery products. Around 41% of consumers are interested in plant-based food derived from pea protein. The usage of pea protein is mainly observed in sports nutrition and meal replacement applications. A typical serving of pea protein powder is 30 grams, with 25 grams of protein recommended to consumers.
- 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 United States. Similarly, the consumption of soy-based food and beverages favorably increased by 12.9% during 2014-2019, and it is likely to remain consistent throughout the forecast period.
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Soy, wheat, and pea production contributes majorly as raw material for plant protein ingredients manufacturers
- Plant proteins in the US plant protein market include proteins from different plant sources, such as soybean, wheat, pea, oat, potato, rice, hemp, lentil, sunflower seed, lupin, corn, quinoa, almond, and walnut. There is an increasing scope for plant protein ingredients in the country due to the production recorded during the review period. The United States produces about one-third of the total soybean in the world, followed closely by Brazil and Argentina. Wheat ranks third among US field crops regarding planted acreage, production, and gross farm receipts, after corn and soybean. The United States produces about 7% of the world's wheat and is the major exporter. It ranks among the top three global wheat exporters. It exports wheat to major countries and regions, like the European Union and Russia.
- Hard red spring (HRS) wheat is one of the major categories of wheat, accounting for almost 20% of the production. It is grown primarily in the northern plains, like North Dakota, Montana, Minnesota, and South Dakota. Hard red spring wheat is valued for its high protein level, making it suitable for specialty bread and blending with lower-protein wheat. The major restraints for the wheat protein market are the rising interest in gluten-free foods and the revived interest in low-carbohydrate diets. These may reduce the level of wheat consumption.
- Hemp production is rising due to increasing government support for hemp producers in the United States. In January 2021, the US Department of Agriculture (USDA) framed the final rule regulating hemp production in the United States. In Florida, the USDA established the State Hemp Program and directed the Department of Agriculture and Consumer Services, including a land registry and licensing, to submit a plan.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Baby food to witness steady growth post pandemic
- Innovation holds key to maintain steady growth rate
- Consumers' preferences shift to premium condiments and sauces, away from packaged soups
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Rising us feed exports and feed prices are expected to impact production
- Soy, wheat, and pea production contributes majorly as raw material for plant protein ingredients manufacturers
- The growth of the bakery industry is led by large commercial players
- Sustainable and innovative packaging trends to influence breakfast cereals market
- 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
- United States cosmetic industry to drive by synergy of innovation and social media influence
