Home / Press Release / Global Plant Protein Market Projected To Grow With A CAGR Of 6.6% By Value From 2018 To 2026

Global Plant Protein Market Projected To Grow With A CAGR Of 6.6% By Value From 2018 To 2026

According to the latest report published by Credence Research, Inc. “Global Plant Protein Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global plant protein market accounted for US$ 10,564.6 Mn in 2017, expanding at a CAGR of 6.6% from 2018 to 2026.

Browse the full report Global Plant Protein Market - Growth, Future Prospects and Competitive Analysis, 2018-2026 report at  https://www.credenceresearch.com/report/plant-protein-market

Market Insights

The global plant protein accounted for US$ 10,564.6 Mn in 2017 growing with a CAGR of 6.6% during the forecast period from 2018 to 2026. Proteins are chains of polymers that are made from amino acids coupled with peptide bonds. During the digestion process, proteins break down in the stomach to create smaller polypeptide chains via protease and hydrochloric acid actions. This process is imperative for the absorption of vital amino acids, which cannot be biosynthesized by the human body.

Majority of the plant foods, with the exception of spinach, soy, and quinoa are usually low in one or two essential amino acids, but they can be obtained through the inclusion of a variety of whole plant foods in the diet. Demand for plant proteins expected to grow at a rapid pace due to the rising demand in food & beverage products such as bakery products, meat alternatives, cereals, snacks, and nutritional supplements among others. Consumers are slowly becoming aware about preventive healthcare, which is fueled by rising number of online forums and magazines that offer lifestyle and diet advice and promotional offers about new products. This factor plays a key role in the development of the herbal supplements industry in U.S. Rising awareness regarding adverse effects of red meat, resulting in shift towards plant-based substitutes is driving the plant protein market. High consumption of red meat is also linked with obesity, which in turn generates high possibilities of type 2 diabetes. Rise in the number of self-directed consumers is another key factor pushing market growth for nutritional supplements at present. Consumers are increasingly relying on self-diagnosis in order to identify the targeted health needs. More than 60% of the residents in the U.S. seek help of the internet to get information on any specific disease or illness, which includes diagnosis and treatment. Growing e-commerce industry is another key factor driving the sale of nutritional supplements, with retailers focusing more on improving the online shopping experience through targeted marketing and better online education, which in turn has increased the comfort level of the consumers for buying supplements online.

The global plant protein market has been segmented by source, form, application and geography. In 2017, soy protein segment dominated the global plant protein market by source. Rising demand for vegan diet among the population across the globe in recent years is resulting in high demand for soy proteins. In terms of form, protein isolate segment held the largest revenue share in 2017 owing to rising preference for low fat diet. In terms of application, animal feed held major share of the global plant protein market. Rising number of animal stock has led to sharp increase in the demand for feeds with high protein content, essential nutrients and vitamins. Modern poultry production involves the manipulation of genetics due to which a balanced and hygienic diet is required to feed the birds. In terms of geography, North America is the most prominent market and held the largest market share both in terms of value in the global plant protein market. Growing health and wellness awareness followed by shift in consumption from red meat to natural food products are primarily driving the plant protein market in this region.

Key players operating in the global plant protein market includes Cargill Incorporated, Archer Daniels Midland Company, Azaki Gulico Co., Ajinomoto Co., Inc., Ltd, Axiom's Foods, E.I. Du Pont de Nemours and Company, Glanbia PLC, Growing Naturals, LLC, Kerry Group PLC and Pinnacle Foods, Inc. among others.

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