The market is recorded to be USD 5539.5 million in 2016 and expected to reach USD 8241.9 million by 2022 at a CAGR of 6.8% during the forecasted period from 2017-2022. In the 2017, the global market volume for plant based proteins was estimated to be XX million tonnes out of which the soya protein dominates in the market segment that accounts for XX% volume share. The consumption of soya based plant proteins segment is raising a CAGR of 6.3% in comparison to other protein segments. Increasing demand for nutritional contents and inclination towards non meat diet have pave a way for the growth of plant protein ingredients. Plant based proteins derived from sources such as soy, wheat and other vegetables being an integral part of food & beverage industry are providing intense competition to animal proteins. Increase in population, growing demand for protein products and the attractive amino acid profile of plant proteins have increased the demand of plant protein ingredients in the market.
Plant protein ingredients are commercially used in the food and beverages products, sports nutrition products and pharmaceutical applications. Protein products are majorly consumed by infant age groups and adult age groups. However due to the benefits of plant protein ingredients nowadays has covered all age group protein consumers.
The plant protein market is expected to increase in developing countries due to emerging economies, rise in demand for healthy food products and high nutritional profiles of soy and pea proteins. Consumers are more inclined towards plant protein because of its ease of digestibility, sustainable source of protein, high nutritional value, non-allergic nature, economical and ethical reasons. Innovation in plant based meat alternatives is another driving factor for the plant ingredient markets. Due to high nutritional facts and economic feasibility of plant proteins provides a great opportunity for the application in food, beverages and dietary supplements to meet the insatiable demands of protein in the market. However fluctuating raw material cost, government regulation related to protein derives from GMO crops and organoleptic ally acceptance of plant based proteins have become a hurdle in the growth of industry.
Global plant protein market segmentation by application in food industry includes sports and energy drink, meat analogues, beverages, bakery and confectionery and ready to eat products. Plant ingredient in Sports nutrition contributes to the major share in the market in application types. Animal feed market is also a growing segment which uses plant protein as an animal feed ingredient to depend on the more sustainable source which uses less energy consumption, land usage and water consumption.
Based on the source of plant protein market is segmented into wheat protein, soy protein, pea protein and other cereal protein. Soy protein dominates the plant protein ingredient segment followed by pea protein and wheat protein. Due to high nutritional value of soy protein which has shown a positive effect on lowering the cholesterol level and fighting with heart disease it has been primarily used in energy drinks and dietary supplements products. Pea protein ingredient being a non GMO protein source with high nutritional facts giving a healthy competition to soy protein in the market with respect to the countries regulatory environment and GMO image problems among consumers. The various forms of plant protein ingredients available in the market are protein concentrate, protein isolate and textured protein. Among the soy protein source type, soy protein concentrate values for XX% of the soya protein market followed by the soy protein isolates which accounts for XX% and soy textured protein that values XX% of the soya protein market. While in the pea protein ingredient market textured pea protein contains the highest amount of protein and dominates the whole pea protein market as compare to pea protein isolates and concentrates.
Based on the geography the global plant protein ingredient market is segmented into North America, Europe, Asia pacific, South America and Africa. In the regional analysis of plant protein market North America is leading the global market followed by Europe and Asia pacific. Asia Pacific is expected to show a highest CAGR during the forecast period.
Usage of approximately 5:1 of plant protein to produce animal protein provides a great opportunity for the plant based protein market to grow while the GMO nature of soya and wheat protein, sensory and functional properties of plant proteins is still a big challenge for the market. The key players in the markets are Archer Daniel Midland Company (U.S), Kerry Group (Ireland), and Cargill Incorporated (U.S), E.I. Du Pont de Company (U.S) and Omega Protein Corporation (U.S) among others. The key players involved in new product development, expansions and partnerships, agreements & collaboration to gain a profitable share in the market.
Key Deliverables in the Study:
A five-year forecast of the global plant protein market and noted trends.
Consumers segments are most likely to purchase food and drink products rich in plant protein ingredients and reason
Analysis of food and drink categories that are most appropriate to develop products enriched with plant protein ingredients
Details about manufacturers who are developing new plant ingredients and details of unique market opportunities exist for these ingredients
Market trends that have emerged over the last five years and where may future growth opportunities lie in the future (2018-2023)
Insights on the major countries/regions where the plant protein market is developing and to also identify the regions that are still untapped.
Market share of brands and private labels and private label growth analysis during 2018-2023
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. KEY FINDINGS OF THE STUDY
3. MARKET OVERVIEW
3.1 Market Overview
3.2 Market Trends
3.3 Market Hotspot
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Overview
4.1 Market Dynamics
184.108.40.206 Imtolerance of Animal Protein
220.127.116.11 Increase in Plant Protein based Ready to Eat Products-Technological Advancements
18.104.22.168 Cost Competitiveness
22.214.171.124 Fluctutaion in Price of Agricultural Commodity
126.96.36.199 Government Regulations
188.8.131.52 Plant Protein Allergens
184.108.40.206 Increase in Demand for Nutrition Bar and Sports Drink
220.127.116.11 Increase in Demand for Vegan Diet
5. Market Segmentation
5.1 By Product Type
5.1.1 Wheat Protein
5.1.2 Soy Protein
5.1.3 Pea Protein
5.2 By Form
5.2.1 Protein Isolate
5.2.2 Protein Concentrate
5.2.3 Textured Protein
5.3 By Application
5.3.3 Nutritional Supplement
5.3.4 Meat Extender & Substitute
5.4 By Geography
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
5.4.3 Asia Pacific
5.4.4 South America
126.96.36.199 South Africa
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Archer Daniels Midland
7.2 Cargill Inc.
7.3 Du Pont-Danisco
7.4 Kerry Group
7.5 Scoular Company
7.6 Omega Protein Corporation
7.7 Roquette Foods
7.8 Axiom Foods
7.9 Glanbia PLC
7.10 Growing Naturals LLC
7.11 Manitoba Harvest Hemp Foods
7.12 Amway Corporation