Plant-based Protein Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to

Plant-based Protein Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to 2031

Plant-based Proteins Market By Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements)—Global Forecast to 2031

According to the research report titled, ‘Plant-based Proteins Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements)—Global Forecast to 2031,’ the plant-based proteins market is projected to reach $26.45 billion by 2031, at a CAGR of 8.4% during the forecast period 2024–2031. The report provides an in-depth analysis of the global plant-based proteins market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.

Following extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends. The growth of this market is driven by the rising need for protein-rich diets, growing health and wellness trends, increasing consumer focus on meat alternatives, rising demand from the food & beverage industry, and advancements in ingredient technologies, such as microencapsulation. However, consumers’ preference for animal-based products and fluctuating raw material prices are expected to hinder the growth of this market.

Furthermore, consumers’ increasing inclination toward plant-based diets, emerging economies, and rising prevalence of intolerance to animal proteins are expected to generate growth opportunities for the players operating in the plant-based proteins market.

The key players operating in the global plant-based proteins market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

The global plant-based proteins market is segmented by type (soy proteins [soy protein concentrate, soy protein isolate, textured soy protein, and other soy proteins], wheat proteins [vital wheat gluten, wheat protein isolate, hydrolyzed wheat protein, and textured wheat protein], pea proteins [yellow pea protein {yellow pea protein isolate, yellow pea protein concentrate, yellow textured pea protein, yellow pea protein hydrolysate, yellow pea flour, and other yellow pea proteins}, green pea protein {green pea protein isolate, green pea protein concentrate, green textured pea protein, green pea protein hydrolysate, green pea flour, and other green pea proteins}], canola proteins [canola protein isolate, canola protein concentrate, and other canola proteins], potato proteins [potato protein concentrate and potato protein isolate], rice proteins [rice protein isolate, rice protein concentrate, and rice protein hydrolysate], corn proteins [corn protein isolate, corn protein concentrate, and other corn proteins], and other plant proteins), form (solid and liquid), source process (conventional plant-based protein ingredients and organic plant-based protein ingredients), application (food & beverage [meat, poultry, and seafood; bakery, meat analogs, dairy alternatives, cereals & snacks, beverages, and other food & beverage applications], animal feed, nutrition & health supplements, pharmaceuticals, and other plant protein-based applications), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the global plant-based proteins market is segmented into soy proteins, wheat proteins, pea proteins, canola proteins, potato proteins, rice proteins, corn proteins, and other types. In 2024, the soy proteins segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to its easy availability, lower price of soy protein than other protein sources, increased demand for meat protein alternatives, a wide range of applications in various products, greater consumer awareness, and multiple health benefits.

Based on form, the global plant-based proteins market is categorized into solid (dry) and liquid. In 2024, the solid segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the increasing demand for powdered plant-based protein due to its benefits, such as ease of handling and transport, comparatively lower costs, low chances of formulation errors, and ingredient stability. This segment is also expected to register the highest CAGR during the forecast period.

Based on source process, the global plant-based proteins market is broadly segmented into conventional plant-based protein ingredients and organic plant-based protein ingredients. In 2024, the conventional plant-based protein ingredients segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the widespread availability of crops cultivated through traditional harvesting methods (utilizing chemical fertilizers), the easy accessibility to cost-effective conventional plant-based protein ingredients, the extended shelf life of these proteins, and the availability of a diverse range of crop varieties. However, the organic plant-based protein ingredients segment is expected to register the highest CAGR during the forecast period.

Based on application, the global plant-based proteins market is segmented into food & beverage, animal feed, nutrition & health supplements, pharmaceuticals, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of the global plant-based proteins market. However, the nutrition & health supplements segment is expected to record a CAGR during the forecast period of 2024-2031. The growth of this segment is mainly attributed to changing lifestyles, growing health & wellness trends, and the increasing prevalence of diseases.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is driven by the increasing awareness about the importance of consuming protein-rich diets, the increasing health consciousness among consumers, the growth in the food & beverages industry, rapid economic growth and urbanization, and the large vegan population in the region.

Key Questions Answered in the Report-

What is the current revenue generated by plant-based proteins globally?
At what rate is the global demand for plant-based proteins projected to grow for the next 5–7 years?
What are the historical market sizes and growth rates of the global plant-based proteins market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of type, form, source, process, and application are expected to create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global plant-based proteins market?
Who are the major players in the global plant-based proteins market? What are their specific product offerings in this market?
What are the recent strategic developments in the global plant-based proteins market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Plant-based Proteins Market Assessment—by Type

Soy Proteins
Soy Protein Concentrate
Soy Protein Isolate
Textured Soy Protein
Other Soy Proteins
Wheat Proteins
Vital Wheat Gluten
Wheat Protein Isolate
Hydrolyzed Wheat Protein
Textured Wheat Protein
Pea Proteins
Yellow Pea Proteins
Yellow Pea Protein Isolates
Yellow Pea Protein Concentrates
Textured Yellow Pea Protein
Yellow Pea Protein Hydrolysate
Yellow Pea Flour
Other Yellow Pea Protein Types
Green Pea Proteins
Green Pea Protein Isolates
Green Pea Protein Concentrates
Textured Green Pea Protein
Green Pea Protein Hydrolysate
Green Pea Flour
Other Green Pea Protein Types
Canola Proteins
Canola Protein Isolate
Canola Protein Concentrate
Other Canola Proteins
Potato Proteins
Potato Protein Concentrate
Potato Protein Isolate
Rice Proteins
Rice Protein Isolate
Rice Protein Concentrate
Rice Protein Hydrolysate
Corn Proteins
Corn Protein Isolate
Corn Protein Concentrate
Corn Protein Hydrolysate
Other plant-based proteins

Plant-based Proteins Market Assessment—by Form

Solid (Dry)
Liquid

Plant-based Proteins Market Assessment—by Source Process

Conventional Plant-Based Protein Ingredients
Organic Plant-Based Protein Ingredients

Plant-based Proteins Market Assessment—by Application

Food & Beverage
Animal Feed
Nutrition & Health Supplements
Pharmaceuticals
Other Plant Protein-based Applications

Plant-based Proteins Market Assessment—by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa

Global Plant-based Proteins Market - Report Summary

Report Metrics	Details
Years Considered	2022 - 2031
Base Year	2023
Forecast Period	2024-2031
Page Count	588
Units Referenced	Value (USD Million)Volume (Tons)
Segments/Key Topics	Market by Type, Market by Form, Market by Source Process, Market by Application, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa
Key Companies Mentioned	Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

FAQs About the Report

What is the value of revenue generated from the sales of the plant-based proteins market across the globe? At what rate is their demand expected to grow for the next 5–7 years?

The plant-based proteins market is projected to reach $24.45 billion by 2031, at a CAGR of 8.4% during the forecast period.

Which type segment showcases high growth opportunities for the plant-based proteins market players?

The pea proteins segment is slated to register the highest growth rate during the forecast period, providing significant opportunities for players operating in this market.

Which application segment of the market is projected to create more traction in the plant-based proteins market?

The nutrition & health supplements segment is projected to record the highest CAGR during the forecast period of 2024–2031.

What are the key factors driving the growth of the plant-based proteins market? What are the major opportunities for existing market players and new entrants in the market?

The growth of the plant-based proteins market is mainly driven by the rising need for protein-rich diets, growing health and wellness trends, increasing consumer focus on meat alternatives, rising demand from the food & beverage industry, and advancements in ingredient technologies, such as microencapsulation. Furthermore, consumers’ increasing inclination toward plant-based diets, emerging economies, and rising prevalence of intolerance to animal proteins are expected to generate growth opportunities for the players operating in the plant-based proteins market.

Who are the major players operating in the plant-based proteins market?

The key players operating in the global plant-based proteins market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

Which Regions/Countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Countries in Asia-Pacific are projected to offer significant growth opportunities for the vendors in this market due to factors such as increasing protein-rich diet awareness, increasing health consciousness, booming food & beverages industry, growing economy, rapid urbanization, and a large vegan population.