Plant Protein Ingredients Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Plant Protein Ingredients Market Insights

According to the report published by Zion Market Research, the global Plant Protein Ingredients Market size was valued at USD 13.18 Billion in 2023 and is predicted to reach USD 26.86 Billion by the end of 2032. The market is expected to grow with a CAGR of 8.23% during the forecast period. The report analyzes the global Plant Protein Ingredients Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Plant Protein Ingredients industry.

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Global Plant Protein Ingredients Market: Overview

The human body is made up of 20% proteins. As proteins are not stored in the body, it is essential to consume protein-rich food every day to get enough protein from the diet. Plant proteins make up a high proportion of the human diet. A wide range of plant protein ingredients such as insoluble, functional, soluble, and textural forms are produced for several applications including sports & slimming foods, snacks & cereals, gluten-free foods, clinical nutrition products, soups & sauces, and meat products. The plant protein ingredients are proteins that are derived from plant-based sources such as wheat, soybean, cereals, pea, and many more.

Global Plant Protein Ingredients Market: Growth Factors

The growing trend of veganism, rise in consumer preferences towards a healthy diet, rise in demand for animal feed, and growing importance of plant proteins in sports nutrition are the major factors that are augmenting the growth of the global plant protein ingredients market at a rapid pace. Plant protein ingredients are widely used in food products that are essential for weight management. Nowadays, most of the population is adopting a diet that is fortified with proteins. In developed and developing countries, obesity and its comorbidities are becoming a public health problem across the world. As per the data and statistics provided by CDC, in 2017-18, the prevalence of obesity was around 42.4 percent which ultimately leads to obesity-related conditions such as stroke, heart diseases, diabetes, and many more.

Thus, the government is taking initiatives by conducting national educational campaigns to modify consumer behavior and eating habits to fight the rising obesity factor. Thus, there is a huge demand for plant protein ingredients in weight loss and weight management. In addition to this, they are also a good alternative for meat products. The population with lactose intolerance is also opting for plant proteins instead of dairy protein ingredients. Owing to all these factors, there is significant growth in the global market. Moreover, huge investment in R&D activities to launch new products and increasing use of soya & rice-based proteins will drive the growth of the global plant protein ingredients market during the forecast period. However, certain allergies associated to plant protein ingredients may hamper the growth of the global plant protein ingredients market.

During the first and second quarter of the year 2020, the global plant protein ingredients market experienced a setback in growth due to strict lockdown and restriction on movement. However, with the removal of lockdown, most of the industries have started functioning at full pace. Consumers are turning towards a healthy diet & plant-based products and are avoiding meat due to the impact on meat production. Thus, the market will experience a healthy growth rate in the forthcoming years.

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Global Plant Protein Ingredients Market: Segmentation

The global plant protein ingredients market is bifurcated by form, type, source, application, and region.

Based on the form, the global plant protein ingredients market is divided into liquid and dry.

Based on the type, the global market is split into isolates, textured proteins, and isolates.

Based on the source, the global market is categorized into wheat, pea, soy, and others.

The application segment is divided into food & beverages, cosmetics & personal care, animal feed, and others.

Plant Protein Ingredients Market: Report Scope

Global Plant Protein Ingredients Market: Regional Analysis

North America is anticipated to dominate the global plant protein ingredients market during the forecast period followed by Europe. Factors such as the presence of major players, the growing trend of veganism, the rising prevalence of obesity, and heavy investments in the manufacturing of the products are contributing to the growth of the global market in this region. On the other hand, the market in Asia Pacific is expected to grow at a substantial rate. This is attributable to the growing demand for functional foods, growing initiatives of the government, and rise in demand in the sports & animal feed industry.

Global Plant Protein Ingredients Market: Competitive Players

The global plant protein ingredients market is highly competitive. Some of the major players operating in the global market are:

• Kerry Inc
• Chaitanya Chemicals
• Cargill
• PEVES
• Axiom Food Incorporation
• Glanbia Nutritionals
• Prinova Group
• A & B Ingredients
• Glanbia Nutritionals
• Medix Laboratoires.

The Global Plant Protein Ingredients Market is segmented as follows:

By form 

• liquid
• dry 

By type 

• isolates
• textured proteins
• isolates 

By source 

• wheat 
• pea
• soy
• and others

By application 

• food & beverages
• cosmetics & personal care
• animal feed
• and others

Global Plant Protein Ingredients Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.