Plant-Based Protein Market Size Soars Amid Shifting Consumer Trends 2030
The global plant-based protein market is experiencing remarkable growth, driven by a surge in consumer demand for clean label, sustainable, and nutritious food choices. A recent study conducted by DuPont Nutrition & Health reveals that 52% of consumers in the United States are incorporating more plant-based foods into their diets. This shift in consumer preference towards plant-based options, combined with an increasing number of lactose-intolerant individuals, is propelling the demand for plant-based protein.
Pea Protein to Dominate Consumption Patterns
While soy protein has been widely used in various food products due to its availability and affordability, pea protein is emerging as the frontrunner in the plant-based protein market. Processed food manufacturers are favoring pea protein for its texture-enhancing qualities. The isolate form of pea protein is easy to incorporate into a wide range of food products, offering a high protein content along with color and flavor benefits. This makes it a perfect ingredient for items like sports drinks and infant formula, among others.
The outbreak of COVID-19 disrupted the supply chain for organically derived pea protein, but as the world returns to normalcy, the cost-effectiveness of pea protein is expected to drive its demand, further fueling the growth of the plant-based protein market.
North America and Europe Remain Lucrative Markets for Plant-based Protein
Globally, North America is projected to account for the largest share of the plant-based protein market, closely followed by Europe. The increasing popularity of vegan products in these regions is expected to bolster demand. Additionally, heightened awareness of lactose intolerance has driven a significant shift in demand for plant-based food ingredients. Both North America and Europe boast a high number of plant-based protein manufacturers, facilitating widespread product availability in the retail sector. These factors are anticipated to drive the growth of the plant-based protein market in these regions throughout the forecast period.
Collaborations Drive Innovation
Plant-based food products are now shaping the portfolios of key manufacturers in the industry. Processed food manufacturers are introducing a variety of processed plant-based protein products, including burgers, chicken nuggets, and seafood alternatives. Many companies have recently launched new products and acquired brands to establish a prominent presence in the alternative protein category, reshaping the landscape of the plant-based protein market.
Key Market Players
Leading players in the plant-based protein market include Royal Ingredients Group, Sotexpro, Glanbia, Kerry Group, Roquette Freres, Cargill, Emsland Group, The Greenlans LLC, DuPont, Batory Foods, Aminola, Ingredion, Burcon Nutracience, Archer Daniels Midland Company, AGT Food & Ingredients, Beneo, Prolupin GmbH, Puris, Cosucra Group, Wilmar International, and Parabel.
As the global plant-based protein market continues to thrive, consumers can look forward to an ever-expanding array of clean, sustainable, and nutritious food options that cater to a wide range of dietary preferences.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/plant-based-protein-market
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