Plant-based Protein Market - Global Size, Share, Trend Analysis, Opportunity and Forecast, 2019–2030, Segmented By Source (Soy, Wheat, Pea, Canola, Oats, Rice & Potato, Beans & Seeds, Fermented Protein, Others); By Type (Concentrates, Isolates, Textured); By Form (Dry, Liquid); By Nature (Conventional, Organic); By Application (Food & Beverages, Feed); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Plant-based Protein Market Size to Surpass Healthy Value of USD 19 Billion by 2030
Global Plant-based Protein Market is flourishing because of the growing interest in health-centric food and beverages and increasingly high awareness about health and wellness among people.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Plant-based Protein Market size at USD 11.02 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Plant-based Protein Market size to expand at a CAGR of 8.16% reaching a value of USD 19.08 billion by 2030. The global market for plant-based protein is expected to rise due to consumer shifts away from animal-based protein sources due to environmental and health concerns, as well as growing health consciousness. Moreover, increasing product launches by market participants and increased production to fulfill the expanding demand are projected to propel the Global Plant-based Protein Market in the coming years.
Opportunity - Rising demand for plant-based animal feed
Global Plant-based Protein Market, based on application, consists of food & beverages and feed segments. The feed segment holds a larger share in Global Plant-based Protein Market. Feed derived from plant-based sources is sustainable and cost-effective compared to animal protein sources, which is prompting the market shift. Additionally, pet owners' growing knowledge of the benefits of using organic components in their food drives the market demand for plant-based protein. Furthermore, the growing need for ethical treatment of animals and growing concerns about animal rights and welfare are driving the rise of the feed market.
Texture Protein Type Holds Largest Market Share
The textured protein segment accounts for the highest market share in Global Plant-based protein market by type. The textured protein segment consists of goods that are processed to improve their texture. It can therefore be used to simulate the mouthfeel and viscosity of meat-based proteins. The growing popularity of plant-based diets and the increasing need for meat substitutes across the regions are spurring the demand for textured protein.
Impact of Escalating Geopolitical Tensions on Global Plant-based Protein Market
The escalating geopolitical tensions hinder the growth of Global Plant-based Protein Market. Geopolitical tensions, such as genocide, war, and conflict, can obstruct the balance between supply and demand by disrupting the production and supply chain of several plant-based protein sources, including rice, potatoes, and wheat. For example, Russia is a significant exporter of wheat, ranking fifth in the world in 2022 with USD 5.88 billion worth of wheat shipped. Unfortunately, the western sanctions imposed as a result of its military occupation of Ukraine had a detrimental effect on the world's wheat supply, leading to a severe shortage of raw materials for the global market for plant-based proteins.
Regional Analysis
The in-depth research report on Global Plant-based Protein Market covers the market in a number of major countries across regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. North America dominates Global Plant-based Protein Market. However, the Asia Pacific region is projected to register its growth at the fastest CAGR during the forecast period owing to the rising concerns surrounding health and environmental sustainability. The plant-based protein provides various health benefits, such as reduced risks of chronic diseases and improved immune system, which favors the growth of the Plat-based Protein Market in Asia Pacific.
Competitive Landscape
Global Plant-based Protein market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include ADM, Cargill Incorporated, International Flavors & Fragrances Inc., Ingredion, Roquette Frères, Wilmar International Ltd., Glanbia plc, Kerry Group PLC, DSM, AGT Food and Ingredients, Burcon NutraScience Corporation, and PURIS.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Plant-based Protein Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Plant-based Protein Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Global Plant-based Protein Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing Interest in Health-Centric Food and Beverages
- 3.2.1.2. Rising Health Awareness During COVID-19
- 3.2.1.3. Shifting Consumer Preferences
- 3.2.1.4. Expanding Distribution Channels
- 3.2.2. Restraints
- 3.2.2.1. High Cost Product
- 3.2.2.2. Nutritional Deficiencies
- 3.2.3. Opportunities
- 3.2.3.1. Product Innovation
- 3.2.3.2. Growing Awareness of Environmental Impact
- 3.2.4. Challenges
- 3.2.4.1. Limited Availability
- 3.2.4.2. Regulatory Landscape
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Global Plant-based Protein Market: Marketing Strategies
- 5. Global Plant-based Protein Market Overview
- 5.1. Market Size & Forecast, 2019–2030
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Source
- 5.2.1.1. Soy
- 5.2.1.2. Wheat
- 5.2.1.3. Pea
- 5.2.1.4. Canola, oats, Rice & Potato
- 5.2.1.5. Beans & Seeds
- 5.2.1.6. Fermented Protein
- 5.2.1.7. Others
- 5.2.2. By Type
- 5.2.2.1. Concentrates
- 5.2.2.2. Isolates
- 5.2.2.3. Textured
- 5.2.3. By Form
- 5.2.3.1. Dry
- 5.2.3.2. Liquid
- 5.2.4. By Nature
- 5.2.4.1. Conventional
- 5.2.4.2. Organic
- 5.2.5. By Application
- 5.2.5.1. Food & Beverages
- 5.2.5.2. Feed
- 5.2.6. By Region
- 5.2.6.1. North America
- 5.2.6.2. Europe
- 5.2.6.3. Asia Pacific (APAC)
- 5.2.6.4. Latin America (LATAM)
- 5.2.6.5. Middle East and Africa (MEA)
- 6. North America Plant-based Protein Market
- 6.1. Market Size & Forecast, 2019–2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Source
- 6.2.2. By Type
- 6.2.3. By Form
- 6.2.4. By Nature
- 6.2.5. By Application
- 6.2.6. By Country
- 6.2.6.1. United States
- 6.2.6.1.1. By Source
- 6.2.6.1.2. By Type
- 6.2.6.1.3. By Form
- 6.2.6.1.4. By Nature
- 6.2.6.1.5. By Application
- 6.2.6.2. Canada
- 6.2.6.2.1. By Source
- 6.2.6.2.2. By Type
- 6.2.6.2.3. By Form
- 6.2.6.2.4. By Nature
- 6.2.6.2.5. By Application
- 7. Europe Plant-based Protein Market
- 7.1. Market Size & Forecast, 2019–2030
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Source
- 7.2.2. By Type
- 7.2.3. By Form
- 7.2.4. By Nature
- 7.2.5. By Application
- 7.2.6. By Country
- 7.2.6.1. Germany
- 7.2.6.1.1. By Source
- 7.2.6.1.2. By Type
- 7.2.6.1.3. By Form
- 7.2.6.1.4. By Nature
- 7.2.6.1.5. By Application
- 7.2.6.2. United Kingdom
- 7.2.6.2.1. By Source
- 7.2.6.2.2. By Type
- 7.2.6.2.3. By Form
- 7.2.6.2.4. By Nature
- 7.2.6.2.5. By Application
- 7.2.6.3. Italy
- 7.2.6.3.1. By Source
- 7.2.6.3.2. By Type
- 7.2.6.3.3. By Form
- 7.2.6.3.4. By Nature
- 7.2.6.3.5. By Application
- 7.2.6.4. France
- 7.2.6.4.1. By Source
- 7.2.6.4.2. By Type
- 7.2.6.4.3. By Form
- 7.2.6.4.4. By Nature
- 7.2.6.4.5. By Application
- 7.2.6.5. Spain
- 7.2.6.5.1. By Source
- 7.2.6.5.2. By Type
- 7.2.6.5.3. By Form
- 7.2.6.5.4. By Nature
- 7.2.6.5.5. By Application
- 7.2.6.6. Belgium
- 7.2.6.6.1. By Source
- 7.2.6.6.2. By Type
- 7.2.6.6.3. By Form
- 7.2.6.6.4. By Nature
- 7.2.6.6.5. By Application
- 7.2.6.7. Russia
- 7.2.6.7.1. By Source
- 7.2.6.7.2. By Type
- 7.2.6.7.3. By Form
- 7.2.6.7.4. By Nature
- 7.2.6.7.5. By Application
- 7.2.6.8. The Netherlands
- 7.2.6.8.1. By Source
- 7.2.6.8.2. By Type
- 7.2.6.8.3. By Form
- 7.2.6.8.4. By Nature
- 7.2.6.8.5. By Application
- 7.2.6.9. Rest of Europe
- 7.2.6.9.1. By Source
- 7.2.6.9.2. By Type
- 7.2.6.9.3. By Form
- 7.2.6.9.4. By Nature
- 7.2.6.9.5. By Application
- 8. Asia Pacific Plant-based Protein Market
- 8.1. Market Size & Forecast, 2019–2030
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Source
- 8.2.2. By Type
- 8.2.3. By Form
- 8.2.4. By Nature
- 8.2.5. By Application
- 8.2.6. By Country
- 8.2.6.1. China
- 8.2.6.1.1. By Source
- 8.2.6.1.2. By Type
- 8.2.6.1.3. By Form
- 8.2.6.1.4. By Nature
- 8.2.6.1.5. By Application
- 8.2.6.2. India
- 8.2.6.2.1. By Source
- 8.2.6.2.2. By Type
- 8.2.6.2.3. By Form
- 8.2.6.2.4. By Nature
- 8.2.6.2.5. By Application
- 8.2.6.3. Japan
- 8.2.6.3.1. By Source
- 8.2.6.3.2. By Type
- 8.2.6.3.3. By Form
- 8.2.6.3.4. By Nature
- 8.2.6.3.5. By Application
- 8.2.6.4. South Korea
- 8.2.6.4.1. By Source
- 8.2.6.4.2. By Type
- 8.2.6.4.3. By Form
- 8.2.6.4.4. By Nature
- 8.2.6.4.5. By Application
- 8.2.6.5. Australia & New Zealand
- 8.2.6.5.1. By Source
- 8.2.6.5.2. By Type
- 8.2.6.5.3. By Form
- 8.2.6.5.4. By Nature
- 8.2.6.5.5. By Application
- 8.2.6.6. Indonesia
- 8.2.6.6.1. By Source
- 8.2.6.6.2. By Type
- 8.2.6.6.3. By Form
- 8.2.6.6.4. By Nature
- 8.2.6.6.5. By Application
- 8.2.6.7. Malaysia
- 8.2.6.7.1. By Source
- 8.2.6.7.2. By Type
- 8.2.6.7.3. By Form
- 8.2.6.7.4. By Nature
- 8.2.6.7.5. By Application
- 8.2.6.8. Singapore
- 8.2.6.8.1. By Source
- 8.2.6.8.2. By Type
- 8.2.6.8.3. By Form
- 8.2.6.8.4. By Nature
- 8.2.6.8.5. By Application
- 8.2.6.9. Vietnam
- 8.2.6.9.1. By Source
- 8.2.6.9.2. By Type
- 8.2.6.9.3. By Form
- 8.2.6.9.4. By Nature
- 8.2.6.9.5. By Application
- 8.2.6.10. Rest of APAC
- 8.2.6.10.1. By Source
- 8.2.6.10.2. By Type
- 8.2.6.10.3. By Form
- 8.2.6.10.4. By Nature
- 8.2.6.10.5. By Application
- 9. Latin America Plant-based Protein Market
- 9.1. Market Size & Forecast, 2019–2030
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Source
- 9.2.2. By Type
- 9.2.3. By Form
- 9.2.4. By Nature
- 9.2.5. By Application
- 9.2.6. By Country
- 9.2.6.1. Brazil
- 9.2.6.1.1. By Source
- 9.2.6.1.2. By Type
- 9.2.6.1.3. By Form
- 9.2.6.1.4. By Nature
- 9.2.6.1.5. By Application
- 9.2.6.2. Mexico
- 9.2.6.2.1. By Source
- 9.2.6.2.2. By Type
- 9.2.6.2.3. By Form
- 9.2.6.2.4. By Nature
- 9.2.6.2.5. By Application
- 9.2.6.3. Argentina
- 9.2.6.3.1. By Source
- 9.2.6.3.2. By Type
- 9.2.6.3.3. By Form
- 9.2.6.3.4. By Nature
- 9.2.6.3.5. By Application
- 9.2.6.4. Peru
- 9.2.6.4.1. By Source
- 9.2.6.4.2. By Type
- 9.2.6.4.3. By Form
- 9.2.6.4.4. By Nature
- 9.2.6.4.5. By Application
- 9.2.6.5. Rest of LATAM
- 9.2.6.5.1. By Source
- 9.2.6.5.2. By Type
- 9.2.6.5.3. By Form
- 9.2.6.5.4. By Nature
- 9.2.6.5.5. By Application
- 10. Middle East & Africa Plant-based Protein Market
- 10.1. Market Size & Forecast, 2019–2030
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Source
- 10.2.2. By Type
- 10.2.3. By Form
- 10.2.4. By Nature
- 10.2.5. By Application
- 10.2.6. By Country
- 10.2.6.1. Saudi Arabia
- 10.2.6.1.1. By Source
- 10.2.6.1.2. By Type
- 10.2.6.1.3. By Form
- 10.2.6.1.4. By Nature
- 10.2.6.1.5. By Application
- 10.2.6.2. UAE
- 10.2.6.2.1. By Source
- 10.2.6.2.2. By Type
- 10.2.6.2.3. By Form
- 10.2.6.2.4. By Nature
- 10.2.6.2.5. By Application
- 10.2.6.3. Qatar
- 10.2.6.3.1. By Source
- 10.2.6.3.2. By Type
- 10.2.6.3.3. By Form
- 10.2.6.3.4. By Nature
- 10.2.6.3.5. By Application
- 10.2.6.4. Kuwait
- 10.2.6.4.1. By Source
- 10.2.6.4.2. By Type
- 10.2.6.4.3. By Form
- 10.2.6.4.4. By Nature
- 10.2.6.4.5. By Application
- 10.2.6.5. South Africa
- 10.2.6.5.1. By Source
- 10.2.6.5.2. By Type
- 10.2.6.5.3. By Form
- 10.2.6.5.4. By Nature
- 10.2.6.5.5. By Application
- 10.2.6.6. Nigeria
- 10.2.6.6.1. By Source
- 10.2.6.6.2. By Type
- 10.2.6.6.3. By Form
- 10.2.6.6.4. By Nature
- 10.2.6.6.5. By Application
- 10.2.6.7. Algeria
- 10.2.6.7.1. By Source
- 10.2.6.7.2. By Type
- 10.2.6.7.3. By Form
- 10.2.6.7.4. By Nature
- 10.2.6.7.5. By Application
- 10.2.6.8. Rest of MEA
- 10.2.6.8.1. By Source
- 10.2.6.8.2. By Type
- 10.2.6.8.3. By Form
- 10.2.6.8.4. By Nature
- 10.2.6.8.5. By Application
- 11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Global Plant-based Protein Company Market Share Analysis, 2023
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 12. Impact of Escalating Geopolitical Tensions on Global Plant-based Protein Market
- 13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 13.1. ADM
- 13.2. Cargill Incorporated
- 13.3. International Flavors & Fragrances Inc.
- 13.4. Ingredion
- 13.5. Roquette Frères
- 13.6. Wilmar International Ltd
- 13.7. Glanbia plc
- 13.8. Kerry Group PLC
- 13.9. DSM
- 13.10. AGT Food and Ingredients
- 13.11. Burcon NutraScience Corporation
- 13.12. PURIS
- 13.13. Other Prominent Players
- 14. Key Strategic Recommendations
- 15. Research Methodology
- 15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
- 15.2. Quantitative Research
- 15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
- 15.4. Breakdown of Primary Research Respondents, By Region
- 15.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications-based on in-depth secondary research for the final deliverable
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