Summary:
Plant proteins are ingredients that are responsible for increasing muscle mass and curbing appetite. The rising consumer inclination towards natural ingredients has resulted in an increase in demand for plant proteins over the years. Plant-based proteins are finding wide applications in the food & beverage industry as food supplements.
The global plant protein market report provides analysis for the period from, where 2018 to 2023 is the forecast period, with 2017 as the base year. This report on plant protein covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market.
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Exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the coming years.
The global plant protein market has been segmented on the basis of different types, forms, and applications. On the basis of different types, the market is segmented into soy protein, pea protein, wheat protein, green protein, and corn protein, among others. On the basis of different forms, the market is segmented into protein isolate, protein concentrate, and textured protein. Further, on the basis of different applications, the market is segmented into bakery & confectionery, dairy alternatives, meat alternatives, animal feed, and nutrition supplements, among others.
Pea protein segment is witnessing the fastest growth rate during the forecast period by different types, pea protein is expected to witness the fastest growth during the forecast period. The growing preference towards healthier lifestyles among consumers, owing to rising concerns regarding chronic diseases such as problems related to health, is generating a favorable impact on the demand for plant-based proteins.
These products are rich in protein, as they contain 50% protein and less than 11% starch. Moreover, the rising importance of organic farming due to the presence of stringent regulatory frameworks in countries such as Australia, the U.S, and Brazil, among others, is generating opportunities for farmers to produce pea and enhance the production of raw materials. For instance, in the U.S, the United States of Agriculture encourages organic farming in the country and there were 21,781 organic operations in 2016.
Protein Isolate dominated the market in 2018 and expected to display a similar trend in the coming years
Increasing preferences towards low-fat diets over the years is resulting in a rise in demand for protein isolates. Protein isolates are a protein powder that has undergone processing methods such as decanting, cooking and filtering, in order to collect the purest protein. It is fat-, lactose-, and gluten-free, and it helps in proper digestion and has fewer calories. Pea and soy isolates are witnessing a rapid growth rate in recent years. Soy protein isolates have 90% protein content and are widely used in soups, beverages, bakery items, and sauce, among others.
The Meat alternative segment is expected to witness the fastest growth during the forecast period
Meat alternative products include lentils, beans, soy foods, and mushrooms, among others. Soy food products as meat alternatives are preferred by consumers, as they contain iron, high-quality proteins, and vitamins. These products have low calories and are considered a good source of dietary fiber. The manufacturers of soy foods use textured soy flour soy concentrates, with the combination of ingredients and vegetable proteins.
North America region dominated the market in 2018 and is expected to display a similar trend in the coming years
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