Global plant proteins market - Size, Trends, Competitive Analysis, Market Share and Forecasts (2019-2026)
The global Plant Proteins market was valued at USD xx million in 2018 and is forecasted to reach USD xx million by 2025, with a CAGR of xx% during the forecast period.
The “fake” meats or plant protein-based meats act as substitutes to meat by imitating animal protein’s taste and texture. Meat Alternatives are sourced from various plant proteins such as soya beans, wheat protein, pea protein and mycoprotein.
The market for these alternatives is increasing because the number of vegetarians and number of consumers who are reducing their meat consumption has been increasing over recent years.
Global Plant Proteins Market
The above graph shows that growth of vegan food products has increased as consumer’s interest in variation and “new” food in increasing because for environmental, ethical and health reasons.
With growing market, several plant protein products that act as meat alternatives, such as Tofu, Tempeh, TVP (a highly nutritious and versatile soy product, that takes on flavor easily), Seitan (derived from the protein portion of wheat), Quorn (a fungus-based ferment used in food production as a meat substitute.), Soy-products (miso, yaso, & natto), Others (lupin, pea-protein, risofu, and valess) are introduced based on consumer preferences.
There are several innovative foods prepared as meat alternatives such as a burger, a schnitzel etc.,
The soy-based segment accounted for an approximate 68% market share in the global meat substitutes market in 2014. The market for tofu and tofu ingredients is projected to witness the highest growth as a result of increasing awareness about the health benefits of soybean.
As of 2016, Asia Pacific has the largest share of vegan consumers globally with approximately 9% of people following a vegan diet. China is one of the fastest growing markets for vegan products in future years. The United States launched a total of 17 new drink products with pea protein isolate during 2011-15.
Beyond Meat, Impossible Foods, A trip to Trader Joe and Hampton Creek Foods are among the top plant-based meat alternatives players known for their mouthwatering and innovative food products which are made from non-GMO, gluten-free pea protein. Some other major players in the meat substitutes include Amy’s Kitchen (U.S.), Beyond Meat (U.S.), Sonic Biochem Extractions Ltd. (India), MGP Ingredients (U.S.), and Garden Protein International Inc. (Canada)
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. Veterinary Diagnostics Market is segmented based on their Sources such as Wheat Protein, Soy Protein, Pea Protein, Other vegetable Protein and Nuts and seeds. Based on a type of, the market is segmented into Protein Isolate, Protein Concentrate, and Textured Protein. Further, based on Application market is segmented into Food Ingredients (Energy and sports drink, Meat Analogues, Beverages, Bakery and confectionery and Ready to eat), Pharmaceuticals and Animal Feed. The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific and RoW.
Why purchase the report
Visualize the composition of the Plant Protein market across each indication, in terms of type and applications, highlighting the key commercial assets and players.
Identify commercial opportunities in Plant Proteins by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Plant Protein market – level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for the key Plant Protein products of all major market players
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