Plant-based Protein Market Global Upcoming Demand & Growth Analysis 2023-2032

The global plant-based protein market estimated at USD 12.2 billion in 2022 and is anticipated to grow at 7.3% CAGR during 2022 to 2027, to hit USD 17.4 billion by 2027 in terms of value.

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Plant-based proteins are taken into consideration a extra sustainable opportunity for animal sourced proteins, on the subject of both personal and environmental health. The demand for plant-based foods increased due to rise in adoption of veganism and health concerns such as cardiovascular diseases have contributed to the growth of this industry. Plant-based proteins are also becoming increasingly popular among the consumers because of their perceived health benefits of obesity management which is also a prevalent issue globally.

Restraints: Allergies associated with plant-based protein sources, such as soy & wheat
Plant-based food & beverages have functional health benefits and consist of essential minerals; however, humans have been allergic to their consumption in several cases, thus restraining the market growth. According to the Cleveland Clinic, soy is one of the "Big Eight" allergens, along with cow's milk, eggs, peanuts, tree nuts, wheat, fish, and shellfish, responsible for 90% of all food allergies.

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Opportunities: Focus on aquatic plants as new & emerging sources of protein
With the rise in health awareness among consumers, the shift toward personalized nutrition has been robust. In recent times, consumers have been conscious and specific about the food they consume and its effects on the body. Besides soy, wheat, and pea, as the major sources of plant-based protein, aquatic plants pose a massive opportunity to obtain proteins and ingredients that match the unique physiological and metabolic needs of the consumers.

Challenges: Concerns over quality of food & beverages due to adulteration of GM ingredients
Soy, wheat, and pea are among the prominent sources used to obtain plant-based proteins and are highly produced in Brazil, the US, Argentina, China, and India.

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Plant-based Protein Market Top Players
Key players in this market include ADM (US), Cargill (US), DuPont (US), Wilmar International Ltd (Singapore), Roquette Frères (France), Glanbia plc (Ireland), Kerry Group PLC (Ireland), DSM (Netherlands), Ingredion (US), Emsland Group (Germany).

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This release was published on openPR.