Shifting trends in global food and nutrition demands have placed the market in quite the favourable position. The rise in the number of individuals drifting to vegetarian and vegan lifestyles calls for a sufficient supply of protein from plants, rather than from milk or meats.
Plant proteins find application in almost all ready-made baby foods, and so, have been in use for quite some time already in the food and beverages industry. Dietary supplements designed for middle and old age consumers also make use of plant protein as a primary base. Other than dietary supplements, plant proteins also have wide ranging applications in the pharmaceutical industry as a common raw material for other drugs.
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Recent health fads suggest plant products be healthier than animal analogues, driving a good fraction of people towards veganism and vegetarian lifestyles. The market stands to profit heavily from such lifestyle migrations as people will require nutritious alternatives to animal sourced proteins. Rising popularity of soy products and other plant proteins are direct indicators of the market’s profiteering. Moreover, the rise in gym culture amongst the general public has promoted sales in sports nutrition products.
As was seen above, drift towards non-meat lifestyles directly affects the market. One huge factor contributing to this drift is the rise in diseases and other ailments often associated with animal products. These include all major cholesterol related ailments; cholesterol can only be introduced into the human body with consumption of animal products. This and the fact that plant proteins are easier to digest by the human body have further accelerated the market’s growth, specifically in the food and beverages industry.
For manufacturers, plant proteins hold quite the rich potential as they are high in demand and require lower costs, land, and even water. Moreover, plant proteins will always hold a higher rate of consumption since animals reared for milk and meats require plant protein for their own nutrition. In addition to this, plant proteins have wide applications in many industries, namely food and beverages, pharmaceuticals and personal care, and also as animal feed. Fluctuating prices of raw materials and questionable credibility of GMO (genetically modified organism) products have been long time hurdles to the market. However, current demand and readily available alternatives to GMO crops have alleviated the market’s suffering from such hurdles to a notable extent.
The global plant protein market can be segmented based on application and source type. On the basis application, the market is segmented into food and beverages, pharmaceuticals, and animal feed. Of these, food and beverages holds the highest share in terms of market value and can be further segmented into meat analogues and sports nutrition. The pharmaceuticals segment makes use of plant proteins in the synthesis of dietary supplements and also as raw materials for other drugs.
When segmented on the basis of source, the market is categorised into soy, pea, wheat, and peanut protein. Amongst these, soy protein holds the highest share in terms of capacity. However, high GMO inputs have put an inquiring stance on its credibility. Pea protein, which holds the second highest share, is free from any GMO intervention and hence provides an equally capable alternative to soy.
Regionally, the market is segmented into North America, South America, Europe, Asia Pacific, and Africa. Amongst these, North America holds the highest share in terms of capacity while Asia Pacific is expected to gain the most in the forecast period.
Key players in the global plant protein market include Archer Daniels Midland, Amway, Axiom Foods, Cargill, Dupont, Glanbia, Growing Naturals, Kerry, NOW Foods, Roquette, The Scoular Company, and Yantai Shuangta Food.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
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Rest of Western Europe
Rest of Eastern Europe
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Rest of Asia Pacific
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Rest of Middle East and Africa
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Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
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