The global plant-based protein products market size is poised to grow by USD 5.67 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 9% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global plant-based protein products market 2019-2023. (Graphic: Business Wire)
Read the 108-page research report with TOC on "Plant-Based Protein Products Market Analysis Report by Product (Soy protein, Wheat protein, Pea protein, and Others) and Geography (Americas, APAC, and EMEA) 2019-2023".
The market is driven by the expanding global vegan population base. Also, increasing health consciousness among consumers is anticipated to further boost the growth of the plant-based protein products market.
Rising awareness about the various health benefits of vegan diets has led to an increase in the number of people adopting vegan lifestyles. The number of consumers who are opting for plant-based diets over animal-based diets is increasing across the globe, especially in countries such as the US and Canada. In addition, the trend has been observed to be more common among millennials. The vegan lifestyle is also steadily gaining popularity among the young population in Mexico and in European countries such as the UK, Germany, and France. Thus, the growing global vegan population will help in the growth of the plant-based protein products market during the forecast period.
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Major Five Plant-Based Protein Products Companies:
Archer Daniels Midland Company
Archer Daniels Midland Company has business operations under various segments, which include agricultural services, corn processing, wild flavors and specialty ingredients, and oilseeds processing. The company offers various plant-based proteins, such as soy protein, under the CLARISOY brand.
Cargill operates its business through various segments, such as animal nutrition protein, food ingredients applications, origination processing, and industrial financial services. Cargill offers various plant-based protein products such as Prolia Soy Flour, Prosante Textured Soy Flour, PURIS Pea Protein, and Corn Protein.
DowDuPont has business operations under various segments, which include agriculture; performance materials coatings; industrial intermediates infrastructure; and packaging specialty plastics. The company offers various plant-based protein products such as soy protein, pea protein, and others.
Kerry Group offers taste, nutrition, and functional ingredients solutions such as plant-based protein to the food, beverage, and pharmaceutical sectors. The company offers plant-based proteins under brand names such as ProDiem and Hyprol.
Omega Protein Corporation
Omega Protein Corporation operates the business through various segments, which include human nutrition, animal nutrition, and science and innovation. The company offers plant-based proteins under the brand name, Bioriginal.
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Plant-Based Protein Products (Product) Outlook (Revenue, USD Million, 2019-2023)
- Soy protein
- Wheat protein
- Pea protein
Plant-Based Protein Products Regional Outlook (Revenue, USD Million, 2019-2023)
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