Market Overview:
Plant-Based Protein Market Size is Projected to Reach USD 16.80 Billion by 2028 from an Estimated USD 10.67 Billion in 2021, Growing at A CAGR of 6.7% Globally, Analysis Period 2023-2030
Proteins are necessary for the skeletal framework of muscles. Plant-based proteins have a protein concentration that ranges from 50% to 85% and is ideal for vegan and vegetarian diets. Key players who provide the plant-based substitutes for meat, dairy, and seafood that consumers desire will find significant, occurring opportunities as the demand for plant-based proteins increases globally. Brands must also outperform competitors with elastic supply networks to sustain ongoing development. The plant-based sector has evolved in recent years from being the newest opportunity to a big industry. For instance, according to Euromonitor, the size of the European meat substitute market nearly doubled between 2014 and 2019.
Top Key Players for the Plant-Based Protein Market:
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Market Dynamics and Factors:
Demand for goods with plant proteins rather than animal proteins is rising as a result of rising consumer health consciousness and the trend towards vegan, vegetarian, or flexitarian lifestyles. As a result, valuable plant-based sources of protein like soy products, certain grains, and legumes are increasingly making an appearance on menus. Plant-based foods have quickly gone from being a niche item to an integral component of the product lines of major players, and they still have a bright future ahead of them.
Plant-based byproducts that raise the bar on sustainability by repurposing food waste are the novel trend to watch this year. While Outcast Foods, an expert in reviving unsaleable fruits and vegetables, offers protein powders fortified with fruit and vegetables, Planetarians is researching ways to extract sunflower seed protein from the oil cakes left over after the production of sunflower oil (currently used for animal feed). With its most recent plant-based protein bars that support recycled kale, sweet potato and cauliflower, Real Food Bar joined the wave this year.
The Report Will Include A Major Chapter
Key Industry Development:
In June 2023, Cargill and Kotug International formed a partnership to introduce Kotug’s revolutionary zero-emission E-Pusher™ and E-Barges in the transportation of cocoa beans. This collaboration aimed to facilitate the transfer of cocoa beans from the Port of Amsterdam, which is recognized as the largest cocoa import port globally.
In May 2023, ADM, a prominent player in sustainably sourced nutrition, and Air Protein, an innovator in air-based nutritional protein production that eliminates the need for agriculture or farmland, announced their entry into a Strategic Development Agreement. The purpose of this collaboration is to conduct joint research and development initiatives aimed at advancing new and unique protein sources for nutrition.
Plant-Based Protein Market Report Highlight:
Central to our report are the company profiles and competitive analysis, providing insights into market players’ overview, market roles, and operating business segments. We evaluate their financial performance, production volume, sales volume, and sales margin while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Plant-Based Protein Market.
Plant-Based Protein Market Segmentation:
By Source
By Type
By Form
By Application
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For this report, Introspective Market Research has segmented the Plant-Based Protein Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
Eastern Europe
Western Europe
Asia Pacific
Middle East & Africa
South America
Scope of the Report:
The latest research on the Plant-Based Protein market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Plant-Based Protein industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Plant-Based Protein market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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