PARTNERS

The plant-based protein market

 

According to the latest research carried out by MarketsandMarkets, the plant-based protein market size is projected to grow from USD 10.3 billion in 2020 to USD 15.6 billion by 2026, in terms of value, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The rise in population with lactose intolerance is one of the major factors driving the market growth for plant-based protein. North America region accounted for the largest market share in the global plant-based protein market.

The plant-based protein market is segmented, based on type, into isolates, concentrates, and textured protein. The isolates segment is projected to grow at the highest CAGR during the forecast period since it has a high concentration of protein with the advantage of color, flavor, and functional properties. This makes it an ideal raw ingredient to be used in applications such as beverages, infant foods, children food, textured protein products, and other types of specialty foods.

The market is also segmented, based on application, into food, and feed. The food segment is projected to be a leading segment in the plant-based protein market, since, plant-based foods represent the growing consumer segment of the market with an increasing number of manufacturers utilizing the characteristics of plant-based proteins to develop new product types and alternatives to conventional products. Plant-based foods are now occupying mainstream presence driven by large-scale manufacturers such as Beyond Meat (US), Impossible Foods (US), Danone (France), and Tyson Foods (US).

Based on source, the market is segmented into soy, pea, wheat, and others, that include potato, canola, and rice. The pea-based protein segment is projected to grow at a higher CAGR during the forecast period, owing to its nutritional benefits and easy integration into final products. Furthermore, the demand for pea protein continues to grow from application industries. Moreover, rising consumer preference for pea-based protein due to increasing health consciousness and awareness regarding the benefits of pea-based protein, particularly in the European and the North American regions, is expected to drive their market growth.

The Asia Pacific region is projected to grow at the highest CAGR in the plant-based protein market during the forecast period due to the growing application of plant-based protein in the food segment. The Asia Pacific region continues to be a strong prospect for manufacturers based in North America. The young demographic and growing interest in plant-based products have resulted in organizations expanding their scope for improved geographic coverage in the region. Countries such as China and India with a strong agricultural background have emerged as key entry points into the region with a well-established infrastructure suited for the processing of plant-based proteins.

www.marketsandmarkets.com

LATEST NEWS

22nd World Congress of Food Science and Technology IUFoST

  The 22nd World Congress of Food Science and Technology (IUFoST) will take place in Rimini from 8 to 12 September 2024. For the first...

Vinventions introduces VINTOP Infinite: a revolutionary, digitally enabled screwcap

  Vinventions, the global leader in closure solutions, announces the launch of VINTOP Infinite, an exclusive wine screwcap (BVS standard) featuring cutting-edge digital printing technology....

Impact of different roasting conditions on coffee characteristics

  A Brazilian work aimed to evaluate the physicochemical changes during the roasting process of Robusta and Arabica coffee.  The highest content of total phenolics was...

ASCOLTATE IL PODCAST DI "ALIMENTI FUNZIONALI"

DOVE TROVARE LE NOSTRE RIVISTE

28-29/05/2024 - MONACO, GERMANIA
28-30/05/2024 PARMA
6-7/06/2024 - PARMA
12-15/06/2024 - BANGKOK, TAILANDIA
18-21/06/2024 - SHANGHAI, CINA
8-12/09/2024, RIMINI
24-26/09/2024 - NORIMBERGA, GERMANIA
9-12/10/2024 - MILANO
16-17/10/2024 - VERONA
5-7/11/2024 - DUBAI, EAU
6-7/11/2024 LA ROCHELLE, FRANCIA
12-15/11/2024 MILANO
18-20/11/2024 - SAHANGHAI, CINA
19-21/11/2024 - FRANCOFORTE, GERMANIA
24-26/11/2024 - NORIMBERGA, GERMANIA
26-28/11/2024 BORDEAUX, FRANCIA
18-22/01/2025 - RIMINI
2-5/02/2025 - COLONIA, GERMANIA
5-7/02/2025 - BERLIN, GERMANIA
16-18/02/2025 - RIMINI
23-25/02/2025 - BOLOGNA
16-18/03/2025 - DÜSSELDORF, GERMANIA
18-22/05/2025 - DÜSSELDORF, GERMANIA
27-30/05/2025 - MILANO

CATALOGO LIBRI

CATALOGO RIVISTE