Plant-based Protein Market to be Worth $21.23 Billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

News provided by

Apr 07, 2021, 09:00 ET

REDDING, Calif., April 7, 2021 /PRNewswire/ -- According to a new market research report titled "Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Forecast to 2027". The plant-based proteins market is expected to grow at a CAGR of 9.5% from 2020 to 2027 to reach $21.23 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5031

Consumer interest in boosting protein intake is increasing with more attention being paid to the specific types of protein being consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and foodservice operators is intensifying, fueling the global plant-based protein market's growth.

The overall plant-based proteins market is mainly segmented based on type, crop type, source process, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Increasing demand for plant-based food during the COVID-19 pandemic to drive market growth

The COVID-19 provided a substantial increase in sales of plant-based products, which proved beneficial for all stakeholders in the plant-based proteins market. Few to be listed are:

As of May 2020, Green Monday's (China) online sales have doubled, citing the impact of the coronavirus. Among the most popular purchases was a pork substitute called Omnipork.
In April 2020, JUST, a U.S.-based company that makes egg products from mung beans, announced that its sales on Chinese e-commerce platforms JD.com and Tmall of JUST Egg had surged 30% since the outbreak.
As of May 2020, U.S.-based California Farms grocery sales increased by 50% as compared to 2019. An upsurge in sales was mainly attributed to increased sales of oat milk and nutritional plant-based butter.
In April 2020, in the U.S., retail sales of fresh plant-based meats grew 279.8%. Also, oat milk sales grew 476.7% in the week ending March 2020, while dairy milk sales grew 32.4%, according to Nielsen data. Additionally, according to IRI data, retail sales of meat grew 77% in the week of March 2020.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5031

Key Findings in the Plant-based Protein Market Study:

Based on type, the plant-based protein market is segmented into soy, wheat, pea, canola, potato, rice, corn, and others. The soy proteins segment accounted for the largest share of the overall plant-based proteins market in 2020. This segment's leading position is mainly attributed to higher consumer acceptance, the presence of a large number of manufactures, lower cost than other types of plant proteins, easy availability of raw materials, and large number of applications in various industries. However, the pea proteins segment is expected to grow at the highest CAGR during the forecast period. This segment's rapid growth is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on crop type, the plant-based proteins market is mainly segmented into genetically and non-genetically modified organism crops. The non-genetically modified organism crops segment accounted for the largest share of the overall plant-based proteins market in 2020. This segment's leading position is mainly attributed to increased awareness about the harmful effects of genetically modified crops and the increasing trend of clean label products. This segment is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising demand for eco-friendly, natural, and organic food products and stringent regulations for GM crops in Europe and Asia-Pacific.

Based on source process, the plant-based proteins market is mainly segmented into organic and conventional plant-based protein ingredients. The conventional plant-based protein ingredients segment accounted for the largest share of the overall plant-based proteins market in 2020. The leading position of this segment is mainly attributed to their low price than organic protein ingredients, longer shelf life, and availability of substantial crop varieties. However, the organic plant-based protein ingredients segment is expected to grow at the highest CAGR during the forecast period.

Quick Buy – Plant-based Protein Market Research Report: https://www.meticulousresearch.com/Checkout/19184656

Based on application, the plant-based protein market is segmented into food and beverages, animal feed, nutrition and health supplements, pharmaceuticals, and others. The food and beverage segment accounted for the largest share of the overall plant-based proteins market in 2020. This segment's large share is mainly attributed to high consumer demand for sustainable products, growing awareness about plant protein health benefits, increasing health concerns over animal products & ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplements segment is expected to witness significant growth. This segment's rapid growth is mainly attributed to changing lifestyles, growing health & wellness trends, and increasing prevalence of diseases.

Geographically, North America accounted for the largest share of the global plant-based protein market in 2020. This region's large share is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This region's rapid growth is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Freres Le Romarin (France), Ingredion Inc. (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Proteins (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd. (Japan), Glanbia plc (Ireland), Corbion NV (The Netherlands), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & co. Kg (Germany), Wilmar International Ltd. (Singapore), and CHS Inc. (U.S.) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-based-protein-market-5031

Scope of the report

Plant-based Protein Market, by Type

Soy Protein

Soy Protein Concentrates
Soy Protein Isolates
Textured Soy Protein
Soy Flour, Grits, and Chunks

Wheat Protein

Vital Wheat Gluten
Wheat Protein Isolates
Hydrolysed Wheat Protein
Textured Wheat Protein

Pea Protein

Pea Protein Isolate
Pea Protein Concentrate
Others

Canola Protein
Potato Protein
Rice Protein
Corn Protein
Others

Plant-based Protein Market, by Crop Type

Genetically Modified Organism (GMO) crops
Non-GMO crops

Plant-based Protein Market, by Source Process

Organic Plant-Based Protein Ingredients
Non-Organic/Conventional Plant-Based Protein Ingredients

Plant-based Protein Market, by Application

Food and Beverages

Meat, Poultry, & Seafood
Bakery
Meat Analogue
Dairy & Dairy Alternatives
Cereals & Snacks
Beverages
Others

Animal Feed
Nutrition & Health Supplements
Pharmaceuticals
Others

Plant-based Protein Market, by Geography

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)

Asia-Pacific (APAC)

China
Japan
India
Australia
Rest of Asia-Pacific (RoAPAC)

Rest of the World

Latin America
Middle East and Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5031

Amidst this crisis, Meticulous Research^®is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports-

Plant Based Food Market by Product Type (Dairy Alternatives, Meat Substitute, Plant-Based Eggs, Confectionery), Source (Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) - Global Forecast to 2027

https://www.meticulousresearch.com/product/plant-based-food-products-market-5108

Alternative Protein Market by Stage/Type (Emerging Alternative Protein, Adolescent Alternative Protein, Matured Alternative Protein), Application (Plant-Based Products, Insect-Based Products, Microbial Products) - Global Forecast to 2027

https://www.meticulousresearch.com/product/alternative-protein-market-4985

Plant-Based Protein Supplements Market by Type (Soy Protein, Rice Protein), Form (Powder, RTD), Application (Sports Nutrition, Additional Nutrition), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Pharmacies) - Global Forecast To 2027

https://www.meticulousresearch.com/product/plant-based-protein-supplements-market-5143

Meat Substitute Market by Product Type (Tofu, TVP, Burger Patties, Sausages, Meatballs, Nuggets), Source (Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) - Global Forecast To 2027

https://www.meticulousresearch.com/product/meat-substitute-market-4969

Dairy Alternatives Market by Product Type (Plant Milk, Cheese, Yogurt, Butter, Ice Cream), Source (Almond Protein, Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) - Global Forecast To 2027

https://www.meticulousresearch.com/product/dairy-alternatives-market-5128

Protein Ingredients Market by Type (Animal Protein, Plant Protein, Insect Protein, Microbial Protein), Form (Dry, Liquid), and Application (Food & Beverage, Animal Feed, Nutritional Supplements, Pharmaceuticals, Cosmetics)—Global Forecast to 2027

https://www.meticulousresearch.com/product/protein-ingredients-market-5173

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected]
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/130/plant-based-protein-market-2027