Plant Protein Market is Estimated to Reach USD 27,965.9 Million by 2027, The Rise of Plant-Based Proteins

The Future of Protein: Shifting Consumer Preferences Towards Plant-Based Alternatives

NEW YORK, NEW YORK, UNITED STATES, April 10, 2023 /EINPresswire.com/ -- Our recent research study on the "Plant Protein Market to 2027 – Global Analysis and Forecast – by Source, Type, and Application" has shown that the market is projected to grow at a CAGR of 6.2% during 2019-2027, reaching US$27,965.9 million by 2027 from US$16,633.6 million in 2018.

Plant protein is obtained from various plant sources such as soy, wheat, pea, nuts, and seeds. Lentils, chickpeas, peanuts, almonds, spirulina, quinoa, and chia seeds are some of the plant sources that provide a high amount of protein. As plant proteins are low in calories, they can be consumed as a substitute for animal protein for weight loss. The growing demand for plant-based food, along with rising consumer interest in high-protein food, is a key factor boosting the demand for plant protein globally.

Rising Consumer Awareness About Protein-Rich Food to Fuel Plant Protein Market Growth

Proteins are essential for maintaining the structure and functions of the human body. They are made up of amino acids that are linked together in long chains by peptide bonds. There are 20 different types of amino acids that determine the role of protein in the human body. Proteins play a crucial role in transporting molecules throughout the body, helping in cell repair, and protecting the body from viruses and bacteria. They also promote proper growth and development in children, teenagers, and pregnant women.

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Several studies have shown that a protein-rich diet can help gain muscle mass and strength and prevent muscle loss during weight management or weight loss programs. People who consume more protein tend to maintain bone mass better and have a lower risk of osteoporosis and fractures. High protein intake has also been shown to boost metabolism, resulting in the burning of a high amount of calories. This further helps in proper weight management and weight loss. These benefits of protein are attracting consumers towards protein-rich food and beverages available in the market, creating a huge demand for plant proteins globally and boosting the plant protein market growth.

Plant Protein Market: Segmental Overview

Based on source, the plant protein market is categorized into soy, wheat, pea, and others. The soy segment accounted for the largest market share in 2018; however, the pea segment is expected to register the highest CAGR in the market during the forecast period. Soy protein isolate is a highly refined form of soy protein, with a protein content of a minimum 90%. It is made from defatted soy flour from which most of the non-protein components, including fats and carbohydrates, are removed. Soy protein powder is made from defatted soybean flakes washed in either alcohol or water to remove the sugars and dietary fibers. They are then dehydrated and ground into powder. Soy protein powder is used to make infant soy formulae, as well as a variety of meat and dairy alternatives. Soy protein concentrates typically contain 70% soy protein and is basically defatted soy flour without the water-soluble carbohydrates. This form of protein is made by removing part of the carbohydrates from dehulled and defatted soybeans. Soy flour is made by grinding soybeans into a fine powder.

Based on type, the plant protein market is segmented into isolates, concentrates, and protein flour. The concentrates segment accounted for the largest market share in 2018. Plant protein concentrates are produced by extracting protein from various sources such as soy, wheat, pea, quinoa, oats, beans, and nuts. These typically supply 60–80% protein, with the remaining 20–40% composed of fat and carbs. The concentrated plant protein is the least processed type of protein powder. Plant protein in the concentrated form helps the muscles recover quickly from heavy exercise as it is absorbed quickly by the body. Therefore, easy availability of plant protein concentrates coupled with lower prices compared to plant protein isolates are the key factors boosting the market. Plant protein concentrate tends to be the cheapest option, but they offer the least amount of protein compared to plant protein isolates because they contain more of other ingredients. These extra ingredients can include fat, cholesterol, lactose, and gluten. The consumers trying to limit the fat intake or have a sensitive digestive system should avoid plant protein concentrates.

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Plant Protein Market: Competition Landscape and Key Developments

Archer Daniels Midland Company; Axiom Foods, Inc.; Burcon NutraScience Corporation; Cargill, Incorporated; E. I. Du Pont De Nemours and Company; Glanbia plc; Ingredion Incorporated; Kerry Group; Koninklijke DSM N.V.; and Roquette Frères are among the key companies operating in the global plant protein market. These companies provide a wide range of product portfolios in the market. The companies have their presence in developing regions, which will help in increasing awareness regarding plant protein. These market players are highly focused on developing high-quality and innovative products to meet the customer's requirements. They have realized the immense potential of plant protein and are observed to be highly involved in mergers and acquisitions, product launch/product innovation, and market initiatives.

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