Plant-based Protein Market – Analysis, Trends and Forecasts
by Mit K. SEOThe plant-based protein market is projected to grow at a
CAGR of 7.2% during the forecast period
According to MarketsandMarkets, the plant-based
protein market is estimated to be valued at USD 10.3 billion in 2020
and is projected to reach USD 15.6 billion by 2026, recording a CAGR of 7.2 %,
in terms of value. Some of the major
factors driving the growth of the plant-based protein market include growing
demand in the food industry, increasing demand for pea-based protein, and the
opportunity to expand in the high growth potential markets.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14715651
Leading players profiled in this report include the
following:
• Archer
Daniels Midland Company (ADM) (US)
• Wilmar
International (US)
• Cosucra
Groupe (Belgium)
• Emsland
Group (Germany)
• Cargill
(US)
• Ingredion
(US)
• DuPont
(US)
Asia Pacific is projected to record the highest growth
during the forecast period
The Asia Pacific region is projected to record the highest
growth during the forecast period. The rising vegan food consumption has led to
an increased demand for plant-based food.
The feed sector is also growing in countries such as China, India, and
Japan, which aids the growth of the plant-based market in the region. Some of
the leading players operating in the region include Herblink Biotech
Corporation (China) and ET Chem (China). Apart from regional manufacturers,
major foreign players such as Cargill (US), DSM (The Netherlands), and ADM (US)
have established their production and research & development facilities in
countries in the Asia Pacific region.
The plant-based protein market is segmented region-wise,
with a detailed analysis of each region. These regions include North America,
Europe, Asia Pacific, South America, and RoW (Middle East & Africa).
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=14715651
By application, the food segment is projected to dominate
the plant-based protein market throughout the forecast period
The food segment is projected to dominate the plant-based
protein market, by application, in terms of value, due to their extensive use
in human nutrition. Plant-based protein is incorporated in food to add
nutritional value to various food products. Different product sources are
developed into types such as isolates, concentrates, and even textured proteins,
which can be utilized in different types of plant-based foods, including dairy
and meat alternatives, ready meals, confectionery, and other food types.
Sponsor Ads
Created on Oct 27th 2021 05:54. Viewed 250 times.