Organic Plant Protein Ingredients Market: Current Analysis and Forecast (2022-2028)

Organic Plant Protein Ingredients Market: Current Analysis and Forecast (2022-2028)

Changing dietary preferences among consumers is evident globally, and the low inclination toward meat and meat-based products is visible among European and North American consumers. The number of consumers becoming flexitarians or vegan is offering enough opportunities for manufacturers to introduce and innovate more in the plant protein ingredient segment. Protein concentration in plant-based proteins ranges from 50-85%, making them suitable for vegan and vegetarian diets. As per United Nations estimates, the world population in 2021 is 7.9 billion and as of January 2021, the total number of vegans in the world is approx 79 million. The rising awareness regarding the benefits of plant-based proteins amongst people is shifting their diet from animal protein to plant-based protein.

The Organic Plant Protein Ingredients market is expected to grow at a steady rate of around 6.9% owing to the growing demand for plant protein due to its health benefits, mounting animal protein intolerance cases, and rising health and wellness consciousness across the globe. The rise in health consciousness, overall health and nutrition management, and weight management are leading to the shift toward plant-based protein. As per Nielsen, 85% of Canadians and 83% of United States people are preferring plant-based food over animal-based food.

• Based on source, the market is segmented into soy, wheat, pea, and others. Among them, the soy category is to dominate the growth of this market during the forecast period. Soy protein is a plant-based protein that comes from the soybean, which is a legume. It’s a great source of protein for both vegetarians and vegans alike, as well as those avoiding dairy, with no cholesterol and very little saturated fat. It’s one of the few plant-based proteins that’s considered a complete protein as it contains all the essential amino acids. For instance, as per American Heart Association, eating foods containing soy protein to replace foods high in animal fats have benefits for cardiovascular health.
• On the basis of form, the market is categorized into dry and liquid. Among these, the dry segment held a significant share of the market in 2021. This is mainly due to the dry form of processing of protein being majorly used in the production of protein concentrates. Dry milling technology is used to process pulses and cereal making their protein content reach up to 65%. Therefore, the growing preference for high-protein diets among the health-conscious population has increased the demand for the dry form.
• For a better understanding of the market adoption of the organic plant protein ingredients industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. Europe is anticipated to dominate the market growth during the forecast period owing to increasing consumer interest in alternative proteins, and non-animal-based food products. The growing trend toward vegan diets and incorporating plant proteins in processed foods are the major factors driving the market. For instance, Novameat is transforming food using 3D printing technology. Based in Barcelona, the startup has already created prototypes of whole-cut analogues using its tech. It has created a vegan steak as well as cell-based meat. Further, as per new research from psychologists at the University of Bath reveals an increasing number of people in Belgium are shunning meat in favor of plant-based alternatives. The survey found that the proportion of people who were satisfied with meat alternatives grew significantly from 44% in 2019 to 51% in 2020.
• Some of the major players operating in the market include Archer Daniels Midland Company, Proeon, Cargill, Incorporated, Kerry Group plc, AMCO Proteins, The Scoular Company, A&B Ingredients, Inc., Glanbia plc, Reliance Private Label Supplements, Ingredion, among others.