Global Plant Based Protein Market Analysis, 2020

The rising awareness about environmental concerns and growing number of animal welfare groups and societies across the globe are making end users to shift toward plant-based proteins to fulfil the need for the nutrients in the daily diet. Moreover, the reduction in meat consumption across the globe is driving the Global Plant-Based Protein market. 

According to the MarkNtel Advisors’ research report, “Global Plant-Based Protein Market Analysis, 2020”, the Global Plant-Based Protein market expected to surge at a CAGR of around 13.82% during 2020-25. North America and Europe captured more than half the market in 2019 due to the well-established food and beverage industry in the regions. Moreover, the rising per capita income and the innovations by the companies in the segments such as snacks and beverages are contributing to the growth of the market.

 In 2019, the soy segment dominated the market on an account of the availability of the raw material in the large volume and low prices in comparison to other segments such as wheat, pea, etc. Moreover, the isolates segment dominates over the concentrates and protein flour in 2019 due to the benefits such as being easily digestive, along with having higher amounts of protein. Also, the demand for soy protein is escalating amongst bodybuilders, sports enthusiasts due to its properties such as  weight loss and no impact on muscle mass which would further contribute to the market demand in the Plant-Based Protein market across the globe.

The major players operating in the industry are Cargill, Archer Daniels Midland Company, DowDuPont, Glanbia Plc, Kerry Group, etc. These companies are investing in the production facilities and expanding geographical coverage to in a competitive edge in the industry.