The Global Plant-based Protein Food market is expected to grow at a considerable rate by 2030, with a growing CAGR (compound annual growth rate) of 7.2% from 2022 to 2030.
Overview : Plant-based Protein Food
Foods that are made from natural plant ingredients are referred to as plant-based foods. These items typically don’t contain any components derived from animals, such as meat, milk, or eggs, and are instead made using fruits, vegetables, nuts, oils, whole grains, and legumes. Tofu, coconut and almond milk, tempeh, and seitan are a few of the often-consumed plant-based dietary items.
These foods are part of a balanced diet that is low in cholesterol and saturated fats while being a good source of the vitamins B1, C, and E, folic acid, magnesium, and iron. They may also help to reduce the chances of diabetes, obesity, high blood pressure, heart disease, metabolic disorders, and several types of cancer with frequent use.
Key market trends- Growth determinants and restraints
The Global Plant-based Protein Food Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
One of the main factors driving the market for plant-based proteins is the rising demand for them in the food and beverage sector. The only important nutrient that the human body needs is protein. They aid in the production of hormones, enzymes, and other bodily substances. It is a crucial component of skin, blood, muscles, bones, cartilage, and other tissues.
Soy, pea, wheat, and other plant-based sources are used to produce plant-based proteins, which are then further processed to create the finished product. It is also taken into account as an alternative to proteins derived from animals. They are widely used in the food and beverage industries as well as the animal feed industry. These plant-based proteins are available in a variety of shapes and are substituted for meat in a number of culinary products.
Plant-based proteins, including those found in chickpeas and pea protein, among others, are added to beverages to boost their nutritional value. Because of their nutritional value, these proteins are used in a variety of dietary products. As a result, many health-conscious individuals are gravitating toward plant-based proteins.
After the COVID-19 virus spread, consumers became more health-conscious about the food they consumed, which increased demand. Proteins are crucial building blocks for strong muscles. During the coronavirus pandemic, there is a rising need for plant-based proteins and healthful food alternatives. This will continue to fuel the market for plant-based proteins. Global demand for plant-based proteins is driven by rising health consciousness and the significance of plant proteins for a stronger immune system. Organic food choices that are natural and environmentally friendly are growing more and more popular with consumers. To meet the rising demand from customers, producers of plant-based proteins are expanding their production capacity.
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Segmentation Analysis of Global Plant-based Protein Food market
Based on type
- Plant based milk
- Plant based drinks
- Plant based meat
- Others
Based on application
- Specialty store
- Supermarket
- Convenience store
- Third party online shopping platform
- Others
Asia-Pacific is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global Plant-based Protein Food market. Asia-Pacific dominates the market with the largest market share among others.
Competitive Landscape
The Key players in the Global Plant-based Protein Food Market are DSM, Sotexpro, Batory Foods, Glanbia Plc, AGT Food and Ingredients, Axiom Foods, Inc, Prolupin GmbH, Yantai Shuangta Food co. LTD, ADM, Wilmar International Ltd, COSCURA, Emsland Group, Cargill, Incorporated, DuPont, Ingredion Incorporated, Roquette Frères, ET CHEM, The Green Labs LLC, and Shandong Jianyuan group among others.
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Major development
1) The Global Plant-based Protein Food market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Frequently Asked Questions
- What is the growth rate of the Global Plant-based Protein Food Market?
- What are the primary growth determinants of the Global Plant-based Protein Food market?
- Which are the major regions constituting the geographical landscape of Global Plant-based Protein Food Market?
- Which are the prominent companies operating in Global Plant-based Protein Food Market?
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