Home / Food & Beverage / Plant Protein Market By Source (Soy Protein, Pea Protein, Wheat Protein, Corn Protein, Green Protein, Others), By Form (Protein Isolate, Protein Concentrate, Textured Protein), By Application (Bakery & Confectionery, Meat Alternatives, Dairy Alternatives, Animal Feed, Nutritional Supplement, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Plant Protein Market By Source (Soy Protein, Pea Protein, Wheat Protein, Corn Protein, Green Protein, Others), By Form (Protein Isolate, Protein Concentrate, Textured Protein), By Application (Bakery & Confectionery, Meat Alternatives, Dairy Alternatives, Animal Feed, Nutritional Supplement, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Published: Sep 2018 | Report Code: 59300-09-18

Industry Outlook

Plant protein market is slated to reach a market value of US$ 18,667.6 Mn by 2026 with 6.6% CAGR during the forecast period from 2018 to 2026. In 2017, North America dominated the plant protein market. Asia Pacific is estimated to be the fastest growing region between 2018 and 2026.

Plant protein is an ingredient responsible for curbing the appetite and increasing the muscle mass. Consumption of plant protein enriched products is increasing on account of rising consumer inclination towards natural ingredients over its animal-based counterparts since animal proteins are high in cholesterol content that might have adverse effects on human health. Plant based proteins are finding wide application in the food & beverages industry as supplements. Such proteins are derived from sources that include wheat protein, soy protein, pea protein, corn protein, and green protein among others.

Consumers in the developed regions such as North America and Europe are shifting their preference towards the consumption of plant-based food products, which is one of the key factors driving the demand for plant proteins. Owing to the rising demand, food & beverage manufacturers are actively involving themselves incorporating plant ingredients in their food products. More than 50% of the U.S. population considers plants as the best source of protein and they are increasingly demanding more non-meat food products such as bagels and non-dairy beverages. Consumption of plant proteins reduces the intake of saturated fats, and reduces the incidences of cholesterol and allergic reactions from eggs and dairy products. In addition to this, rising demand for organic food products in the developed nations is a key factor complementing the growth of the plant protein market in those regions. Shifting consumer base towards the consumption of plant-based food products is one of the key factor responsible for high growth of the plant protein market at present. Developed economies such as the U.S. are the frontrunners for the growth of this industry at present. High consumption of red meat is linked with high incidences of heart diseases because red meats such as ground beef are high in saturated fats, which is responsible for elevating the level of blood cholesterol, which increases the risk of cardiovascular diseases. Demand for nutritional supplements is on the rise at the global level, which is majorly spurred by the aging population, which has led the consumers to look for remedies for their ailments and options that would help them stay healthy and active. Staying health has become a lifestyle choice and has boosted the demand for several health products, contributing to the thriving consumer market. All these factors are expected to drive the global plant protein market during the forecast period from 2018 to 2026.

Market Synopsis, Value (US$ Mn)

Plant Protein Market

Pea Protein Segment propelling the growth of Plant Protein Market

By source, pea protein segment is expected to be the fastest growing segment during the forecast period from 2018 to 2026. Preference towards healthy diet among majority of the population owing to the increasing concerns towards chronic diseases such as heart problems is generating a favorable impact on the demand for the plant proteins. These products are rich source of protein as it contains 50% protein and less than 11% of starch. Rising importance of the organic farming due to the strong regulatory framework in the countries such as U.S, Australia and Brazil among others are generating incentive to the farmers to produce pea crops and enhance the availability of raw material. For example, in the U.S, United States Department of Agriculture encourages organic farming and there were 21,781 certified organic operations in 2016. Companies such as Cargill invests on plant based protein in order to meet the rising consumer demands. For instance, in 2018, Cargill invested on PURIS, which is the largest North American producer of pea protein in order to manufacture natural and sustainable plant based products.

Plant Protein Market

Protein Isolate Identified as the Dominant Form Segment in 2017

Rising preferences towards low fat diets, results to the increase in the demand for the protein isolate among the consumers across the globe. Protein isolate refers to the protein powder that includes processing methods such as cooking, decanting and filtering in order to collect the purest protein. It is lactose, fat and gluten free, helps in better digestion, and has fewer calories. Soy and pea isolates are showing rapid growth rate in recent years. Soy protein isolates has 90% of protein content and are widely used in beverages, soups, sauce, bakery items among others. Pea proteins isolates expected to witness the fastest growth during the forecast period as they have the biggest potential as food ingredient. These concentrates are made from pea flour and follow the process of isoelectric precipitation and aqueous extraction. The protein content in pea isolation is approximately 80%.

Plant Protein Market

Meat Alternatives expected to be the fastest growing application segment in 2017

Meat alternative products include beans and lentils, soy foods (tofu, tempeh etc.), mushrooms, seitan (wheat gluten) among others. Soy food products as meat alternative dominated the market as it consists of high quality protein, iron and vitamins. These products are of low calorie and has good source of dietary fiber. Soy food manufacturers’ uses soy concentrates, textured soy flour with the combination of vegetable proteins and ingredients. New technology has resulted in new soy product development that resembles the texture and taste of red meat.

Presence of bioactive components such as isoflavones in soya products helps to maintain healthy bones, prevents colorectal and breast cancers, and provides relief during menopausal symptoms. Products such as Tofu made from soybean curds, are of low calories, and free from gluten. These products are important source of protein for the people who follow flexitarian and vegan diet. Mushrooms also occupied a significant market share in recent years due to the rising demand for meat alternatives. According to American Institute for Cancer Research, mushrooms considered as the meat substitute but they do not provide equivalent amount of proteins like meat. However, they are rich in zinc, iron and vitamins and maintains a rich texture and flavor of the food. Another meat alternative, Seitan made from wheat provides the texture of meat when cooked and has become popular in recent years. These products are of high protein and preferred by the vegan population.

Plant Protein Market

North America is the Largest Region in the Global Plant Protein Market

Globally, North America accounted for the largest value share of plant protein market. Various nutritional benefits of plant protein followed by growing consumer awareness regarding health and wellness is mainly driving this market. Trend shows that there has been increasing consumption of red meat in North America region. This in turn directly linked with high incidence of heart diseases owing to the fact that red meats such as ground beef are high in saturated fats. This basically is responsible for elevating the blood cholesterol level thereby increasing the risk of cardiovascular diseases. In addition, high consumption of red meat also results in obesity thereby increasing the risk of type 2 diabetes. As per the Center for Disease Control and Prevention (CDC), obesity prevalence in U.S. was approximately 39.8%, which affected approximately 93.3 million adults in the country. Hence, consumers in this region are shifting from red meat consumption to natural alternatives that are derived from plant sources, which in turn is driving the plant protein market in this region.

Plant Protein Market

Product Expansion Followed by Mergers and Acquisitions are the Key Strategies Adopted by the manufacturers 

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. In 2017, ADM also expanded their production plant in Straubing, Germany. The production facility deals with various non-GMO based high protein soybean meal production. This expansion will facilitate the Company to cater to the growing demand for soybean meal.

Plant Protein Market

Historical & Forecast Period

Historical Year - 2016

Base Year - 2017

Forecast Period - 2018-2026

This research considers 2017 as the base year and presents analysis of segments from 2016 to 2026. In addition, forecast period from 2018 to 2026 is considered for Compounded Annual Growth Rate (CAGR) calculation for each respective segment.

Report Scope by Segments

Global Plant Protein Market mainly focuses on quantitative and qualitative analysis of the overall market. The report also represents understanding about the current strategies and market dynamics prevailing in the market. The report covers the global plant protein market by segmenting the market in terms of form, source, application and geography.

Source Segment (2016–2026; US$ Mn)

  • Soy Protein
  • Pea Protein
  • Wheat Protein
  • Corn Protein
  • Green Protein
  • Others (potato, bean, canola, etc.)

Form Segment (2016–2026; US$ Mn)

  • Protein Isolate
  • Protein Concentrate
  • Textured Protein

Application Segment (2016–2026; US$ Mn)

  • Bakery & Confectionary
  • Meat Alternatives
  • Dairy Alternatives
  • Animal Feed
  • Nutritional Supplements
  • Others (personal care, cosmetics, pharmaceuticals etc.)

Geography Segment (2016–2026; US$ Mn)

  • North America
    • U.S.
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • South East Asia
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
      • Others
    • Rest of APAC
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East and Africa (MEA)
    • GCC
    • Rest of MEA

Plant Protein Market

Key questions answered in this report

  • Who are the distributors, traders and dealers of plant protein market?
  • What are expected largest source, form and application segments in the market during the forecast period from 2018 to 2026?
  • What are the fastest growing segments in the market for the forecast period?
  • What are the current market trends in the plant protein market and valuable opportunities for the players?
  • How the regulatory framework affects the global as well as the regional markets?
  • Which are the key players operating in the global market and what are the strategies adopted by them?
  • What are sales, revenue, business strategy and product portfolio of top manufacturers of plant protein market?
  • What is the market size and trend in emerging and developed markets?

Chapter 1 Preface 11
1.1 Report Scope and Description 11
1.1.1 Study Purpose 11
1.1.2 Target Audience 11
1.1.3 USP and Key Offerings 11
1.2 Research Scope 12
1.3 Research Methodology 13
1.3.1 Phase I – Secondary Research 13
1.3.2 Phase II – Primary Research 14
1.3.3 Phase III – Expert Panel Review 14
1.3.4 Approach Adopted 14
1.3.4.1 Top-Down Approach 15
1.3.4.2 Bottom-Up Approach 15
1.3.5 Assumptions 16
1.4 Market Segmentation 16

Chapter 2 Executive Summary 17
2.1 Market Snapshot: Global Plant Protein Market 18
2.1.1 Global Plant Protein Market Value, by Source, 2017 (US$ Mn) 19
2.1.2 Global Plan Protein Market Value, by Form, 2017 (US$ Mn) 19
2.1.3 Global Plant Protein Market, by Application, 2017 (US$ Mn) 20
2.1.4 Global Plant Protein Market Value, by Region, 2017 (US$ Mn) 20

Chapter 3 Market Dynamics 21
3.1 Introduction 21
3.2 Market Dynamics 22
3.2.1 Market Drivers 22
3.2.1.1 Rising Awareness Regarding Adverse Effects of Red Meat, Resulting in Shift Towards Plant-Based Substitutes 22
3.2.1.2 Growing Demand for Nutritional Supplements Fuelling Market Growth of Plant Protein 24
3.2.2 Market Restraints 26
3.2.2.1 Price Volatility of Agricultural Commodities 26
3.2.3 Market Opportunity 27
3.2.3.1 Rising Sunflower Production in Brazil 27
3.2.3.2 Rising Demand for Plant Protein Infused Products Make Asia Pacific the Fastest Growing Market 28
3.3 Attractive Investment Proposition, by Geography, 2017 29

Chapter 4 Global Plant Protein Market, by Source 31
4.1 Overview 31
4.1.1 Global Plant Protein Market Value Share, by Source, 2017 & 2026 (Value, %) 32
4.1.2 Global Plant Protein Market, by Source, 2016 – 2026 (US$ Mn) 32
4.2 Soy Protein 33
4.2.1 Global Plant Protein Market, by Soy Protein, 2016 – 2026 (US$ Mn) 33
4.3 Pea Protein 34
4.3.1 Global Plant Protein Market, by Pea Protein, 2016 – 2026 (US$ Mn) 34
4.4 Wheat Protein 35
4.4.1 Global Plant Protein Market, by Wheat Protein, 2016 – 2026 (US$ Mn) 35
4.5 Corn Protein 36
4.5.1 Global Plant Protein Market, by Corn Protein, 2016 – 2026 (US$ Mn) 36
4.6 Green Protein 37
4.6.1 Global Plant Protein Market, by Green Protein, 2016 – 2026 (US$ Mn) 38
4.7 Others 39
4.7.1 Global Plant Protein Market, by Others, 2016 – 2026 (US$ Mn) 39

Chapter 5 Global Plant Protein Market, by Form 40
5.1 Overview 40
5.1.1 Global Plant Protein Market Value Share, by Form, 2017 & 2026 (Value, %) 40
5.1.2 Global Plant Protein Market, by Form, 2016 – 2026 (US$ Mn) 41
5.2 Protein Isolate 41
5.2.1 Global Plant Protein Market, by Protein Isolate, 2016 – 2026 (US$ Mn) 42
5.3 Protein Concentrate 43
5.3.1 Global Plant Protein Market, by Protein Concentrate, 2016 – 2026 (US$ Mn) 43
5.4 Textured Protein 44
5.4.1 Global Plant Protein Market, by Textured Protein, 2016 – 2026 (US$ Mn) 44

Chapter 6 Global Plant Protein Market, by Application 45
6.1 Overview 45
6.1.1 Global Plant Protein Market Value Share, by Application, 2017 & 2026 (Value, %) 46
6.1.2 Global Plant Protein Market, by Application, 2016 – 2026 (US$ Mn) 46
6.2 Bakery & Confectionery 47
6.2.1 Global Plant Protein Market, by Bakery & Confectionery, 2016 – 2026 (US$ Mn) 47
6.3 Meat Alternatives 48
6.3.1 Global Plant Protein Market, by Meat Alternatives, 2016 – 2026 (US$ Mn) 49
6.4 Dairy Alternatives 50
6.4.1 Global Plant Protein Market, by Dairy Alternatives, 2016 – 2026 (US$ Mn) 50
6.5 Animal Feed 51
6.5.1 Global Plant Protein Market, by Animal Feed, 2016 – 2026 (US$ Mn) 51
6.6 Nutritional Supplement 52
6.6.1 Global Plant Protein Market, by Nutritional Supplement, 2016 – 2026 (US$ Mn) 52
6.7 Others (personal care, cosmetics, pharmaceuticals etc.) 53
6.7.1 Global Plant Protein Market, by Others, 2016 – 2026 (US$ Mn) 53

Chapter 7 Global Plant Protein Market, by Geography 54
7.1 Overview 54
7.1.1 Global Plant Protein Market Value Share, by Geography, 2017 & 2026 (Value %) 55
7.1.2 Global Plant Protein Market, by Geography 2016 – 2026 (US$ Mn) 55
7.2 North America 56
7.2.1 North America Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 57
7.2.2 North America Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 58
7.2.3 North America Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 58
7.2.4 North America Plant Protein Market, by Country (US$ Mn) 59
7.3 Europe 60
7.3.1 Europe Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 61
7.3.2 Europe Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 61
7.3.3 Europe Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 62
7.3.4 Europe Plant Protein Market, by Country/Region (US$ Mn) 62
7.4 Asia Pacific 63
7.4.1 Asia Pacific Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 64
7.4.2 Asia Pacific Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 64
7.4.3 Asia Pacific Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 65
7.4.4 Asia Pacific Plant Protein Market, by Country/Region (US$ Mn) 65
7.4.4.1 South East Asia Plant Protein Market, by Country/Region (US$ Mn) 66
7.5 Latin America 67
7.5.1 Latin America Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 68
7.5.2 Latin America Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 68
7.5.3 Latin America Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 69
7.5.4 Latin America Plant Protein Market, by Country/Region (US$ Mn) 69
7.6 Middle East and Africa(MEA) 70
7.6.1 MEA Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 71
7.6.2 MEA Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 71
7.6.3 MEA Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 72
7.6.4 MEA Plant Protein Market, by Region (US$ Mn) 72

Chapter 8 Company Profiles 73
8.1 Archer Daniels Midland Company 73
8.2 Ajinomoto Co., Inc. 75
8.3 Ezaki Glico Co., Ltd 77
8.4 Axiom's Foods 79
8.5 Cargill Incorporated 81
8.6 E.I. Du Pont de Nemours and Company 83
8.7 Glanbia Plc 85
8.8 Growing Naturals, LLC 87
8.9 Kerry Group PLC 89
8.10 Pinnacle Foods Inc. 91

FIG. 1 Global Plant Protein Market: Research Methodology 13
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach 15
FIG. 3 Global Plant Protein Market Segmentation 16
FIG. 4 Global Plant Protein Market Value, by Source, 2017 (US$ Mn) 19
FIG. 5 Global Plant Protein Market Value, by Form, 2017 (US$ Mn) 19
FIG. 6 Global Plant Protein Market Value, by Application, 2017 (US$ Mn) 20
FIG. 7 Global Plant Protein Market Value, by Region, 2017 (US$ Mn) 20
FIG. 8 Top 20 Countries/Regions with High Per Capita Consumption of Beef, 2017 (Kg) 23
FIG. 9 Retail Sales of Herbal Supplements in the U.S., 2011-2016 (US$ Bn) 25
FIG. 10 Attractive Investment Proposition, by Geography, 2017 29
FIG. 11 Global Plant Protein Market Value Share, by Source, 2017 & 2026 (Value, %) 32
FIG. 12 Global Plant Protein Market, by Soy Protein, 2016 – 2026 (US$ Mn) 33
FIG. 13 Global Plant Protein Market, by Pea Protein, 2016 – 2026 (US$ Mn) 34
FIG. 14 Global Plant Protein Market, by Wheat Protein, 2016 – 2026 (US$ Mn) 35
FIG. 15 Global Plant Protein Market, by Corn Protein, 2016 – 2026 (US$ Mn) 36
FIG. 16 Global Plant Protein Market, by Green Protein, 2016 – 2026 (US$ Mn) 38
FIG. 17 Global Plant Protein Market, by Others, 2016 – 2026 (US$ Mn) 39
FIG. 18 Global Plant Protein Market Value Share, by Form, 2017 & 2026 (Value, %) 40
FIG. 19 Global Plant Protein Market, by Protein Isolate, 2016 – 2026 (US$ Mn) 42
FIG. 20 Global Plant Protein Market, by Protein Concentrate, 2016 – 2026 (US$ Mn) 43
FIG. 21 Global Plant Protein Market, by Textured Protein, 2016 – 2026 (US$ Mn) 44
FIG. 22 Global Plant Protein Market Value Share, by Application, 2017 & 2026 (Value, %) 46
FIG. 23 Global Plant Protein Market, by Bakery & Confectionery, 2016 – 2026 (US$ Mn) 47
FIG. 24 Global Plant Protein Market, by Meat Alternatives, 2016 – 2026 (US$ Mn) 49
FIG. 25 Global Plant Protein Market, by Dairy Alternatives, 2016 – 2026 (US$ Mn) 50
FIG. 26 Global Plant Protein Market, by Animal Feed, 2016 – 2026 (US$ Mn) 51
FIG. 27 Global Plant Protein Market, by Nutritional Supplement, 2016 – 2026 (US$ Mn) 52
FIG. 28 Global Plant Protein Market, by Others, 2016 – 2026 (US$ Mn) 53
FIG. 29 Global Plant Protein Market Value Share, by Geography, 2017 & 2026 (Value %) 55

TABLE 1 Market Snapshot: Global Plant Protein Market Value 18
TABLE 2 Global Plant Protein Market, by Source, 2016 – 2026 (US$ Mn) 32
TABLE 3 Global Plant Protein Market, by Form, 2016 – 2026 (US$ Mn) 41
TABLE 4 Global Plant Protein Market, by Application, 2016 – 2026 (US$ Mn) 46
TABLE 5 Global Plant Protein Market, by Geography 2016 – 2026 (US$ Mn) 55
TABLE 6 North America Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 57
TABLE 7 North America Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 58
TABLE 8 North America Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 58
TABLE 9 North America Plant Protein Market, by Country 2016 – 2026 (US$ Mn) 59
TABLE 10 Europe Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 61
TABLE 11 Europe Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 61
TABLE 12 Europe Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 62
TABLE 13 Europe Plant Protein Market, by Country/Region 2016 – 2026 (US$ Mn) 62
TABLE 14 Asia Pacific Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 64
TABLE 15 Asia Pacific Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 64
TABLE 16 Asia Pacific Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 65
TABLE 17 Asia Pacific Plant Protein Market, by Country/Region 2016 – 2026 (US$ Mn) 65
TABLE 18 South East Asia Plant Protein Market, by Country/Region 2016 – 2026 (US$ Mn) 66
TABLE 19 Latin America Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 68
TABLE 20 Latin America Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 68
TABLE 21 Latin America Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 69
TABLE 22 Latin America Plant Protein Market, by Country/Region 2016 – 2026 (US$ Mn) 69
TABLE 23 MEA Plant Protein Market, by Source 2016 – 2026 (US$ Mn) 71
TABLE 24 MEA Plant Protein Market, by Form 2016 – 2026 (US$ Mn) 71
TABLE 25 MEA Plant Protein Market, by Application 2016 – 2026 (US$ Mn) 72
TABLE 26 MEA Plant Protein Market, by Region 2016 – 2026 (US$ Mn) 72

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