Global Plant Protein Market by Product Type, Application and Geography - Market Shares, Forecasts and Trends (2019-2024) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 8, 2019--The “Global Plant Protein Market by Product Type, Application and Geography - Market Shares, Forecasts and Trends (2019-2024)” report has been added to ResearchAndMarkets.com’s offering.
The global plant protein market was valued at USD 5,978.72 million in 2017, and is expected to register an estimated CAGR of 7.1%, during the forecast period, 2019-2024.
Increasing demand for nutritional contents and inclination towards non-meat diet have pave a way for the growth of plant protein ingredients. Plant-based proteins derived from sources such as soy, wheat and other vegetables being an integral part of food & beverage industry are providing intense competition to animal proteins.
Increase in population, growing demand for protein products and the attractive amino acid profile of plant proteins have increased the demand of plant protein ingredients in the market.
Plant protein ingredients are commercially used in the food and beverages products, sports nutrition products and pharmaceutical applications. Protein products are majorly consumed by infant age groups and adult age groups. However due to the benefits of plant protein ingredients nowadays has covered all age group protein consumers.
The plant protein market is expected to increase in developing countries due to emerging economies, rise in demand for healthy food products and high nutritional profiles of soy and pea proteins. Consumers are more inclined towards plant protein because of its ease of digestibility, sustainable source of protein, high nutritional value, non-allergic nature, economical and ethical reasons. Innovation in plant based meat alternatives is another driving factor for the plant ingredient markets.
Due to high nutritional facts and economic feasibility of plant proteins provides a great opportunity for the application in food, beverages and dietary supplements to meet the insatiable demands of protein in the market. However fluctuating raw material cost, government regulation related to protein derives from GMO crops and organoleptic ally acceptance of plant based proteins have become a hurdle in the growth of industry.
Global plant protein market segmentation by application in food industry includes sports and energy drink, meat analogues, beverages, bakery and confectionery and ready to eat products. Plant ingredient in Sports nutrition contributes to the major share in the market in application types. Animal feed market is also a growing segment which uses plant protein as an animal feed ingredient to depend on the more sustainable source which uses less energy consumption, land usage and water consumption.
Based on the source of plant protein market is segmented into wheat protein, soy protein, pea protein and other cereal protein. Soy protein dominates the plant protein ingredient segment followed by pea protein and wheat protein. Due to high nutritional value of soy protein which has shown a positive effect on lowering the cholesterol level and fighting with heart disease it has been primarily used in energy drinks and dietary supplements products.
Pea protein ingredient being a non-GMO protein source with high nutritional facts giving a healthy competition to soy protein in the market with respect to the countries regulatory environment and GMO image problems among consumers.
The various forms of plant protein ingredients available in the market are protein concentrate, protein isolate and textured protein. In the pea protein ingredient market, textured pea protein contains the highest amount of protein and dominates the whole pea protein market as compared to pea protein isolates and concentrates.
Usage of approximately 5:1 of plant protein to produce animal protein provides a great opportunity for the plant based protein market to grow while the GMO nature of soya and wheat protein, sensory and functional properties of plant proteins is still a big challenge for the market.
The key players in the markets are Archer Daniel Midland Company (U.S), Kerry Group (Ireland), and Cargill Incorporated (U.S), E.I. Du Pont de Company (U.S) and Omega Protein Corporation (U.S) among others. The key players involved in new product development, expansions and partnerships, agreements & collaboration to gain a profitable share in the market.
DriversIntolerance of Animal Protein Increase in Plant Protein based Ready to Eat Products-Technological Advancements Cost Competitiveness
RestraintsFluctuation in Price of Agricultural Commodity Government Regulations Plant Protein Allergens
OpportunitiesIncrease in Demand for Nutrition Bar and Sports Drink Increase in Demand for Vegan Diet
2. Key Findings of the Study
3. Market Scope
4. Market Overview
5. Market Segmentation
5.1 By Product Type
5.1.1 Wheat Protein
5.1.2 Soy Protein
5.1.3 Pea Protein
5.2 By Form
5.2.1 Protein Isolate
5.2.2 Protein Concentrate
5.2.3 Textured Protein
5.3 By Application
5.3.3 Nutritional Supplement
5.3.4 Meat Extender & Substitute
5.4 By Geography
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Archer Daniels Midland
7.2 Cargill Inc.
7.3 Du Pont-Danisco
7.4 Kerry Group
7.5 Scoular Company
7.6 Omega Protein Corporation
7.7 Roquette Foods
7.8 Axiom Foods
7.9 Glanbia PLC
7.10 Growing Naturals LLC
7.11 Manitoba Harvest Hemp Foods
7.12 Amway Corporation
For more information about this report visit https://www.researchandmarkets.com/research/lpkjzk/global_plant?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190208005238/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Food Ingredients
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/08/2019 08:05 AM/DISC: 02/08/2019 08:06 AM