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(Health-NewsWire.Net, March 23, 2020 ) Market Overview
The global plant protein market was worth $11.01 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 7.19% during the forecast period.
The global plant protein market is expected to grow at a rapid pace owing to the high protein content and many health benefits of plant protein. Plant protein is gotten from sources, for example, soy, wheat, and other plant sources. It is important for vegetarians and vegans to mix their protein sources and ensure that they are getting all of the essential amino acids. Most plant proteins need at least one of the important amino acids required by the human body for ideal development and fix. Most of the plant proteins are extracted from seeds and vegetables.
Market Dynamics
Rising consumption of plant-based food due to health benefits, increasing demand for high-protein content products and growing demand for sports nutrition products are the vital drivers for the market growth. The increasing awareness about the health benefits of plant-based foods among consumers is boosting the growth of the market. Plant-based packaged foods have emerged as a good nutritional option, especially for vegetarians and vegans. Plant protein is low in saturated fat and cholesterol and is a good source of unsaturated fat, fibers, vitamins, and minerals. Therefore, with increasing customer preference for plant-based foods, food manufacturers are formulating plant-based foods with a vegan claim to tap the market demand. For instance, Pacific Foods offers Organic Seitan Korean BBQ, and Organic Seitan Original prepared from plant-based ingredients.
Market Segmentation
By Type
Protein Concentrate
Protein Isolate
Textured Protein
By Source
Pea Protein
Soy Protein
Wheat Protein
Other vegetable Protein
By Application
Animal Feed
Food Ingredients
Bakery and confectionery
Beverages
Energy and sports drink
Meat Analogues
Ready to eat
Pharmaceuticals
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Geographical Share
The global Plant Protein Market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa.
Competitive Analysis
Some of the key market players are Archer Daniels Midland Company, Axioms Foods, Amco Proteins, Cargill Incorporated U.S, E.I Du Pont de company, Glanbia Nutritionals, Growing Naturals, LLC, Kerry Group, Manitoba harvest hemp foods, Omega Protein Corporation, Roquette Foods, Scoular Companys Food Ingredient, Sodrugestvo Groups and Sunwarrior.
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