The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
Plant based protein market size was USD 10.10 billion in 2021 and is expected to register a revenue CAGR of 7.4% during the forecast period, according to latest analysis by Emergen Research. Rising demand for vegan and plant-based products and increased health risks associated with meat consumption are factors driving market revenue growth during 2022-2030. In addition, increasing demand for organic products and shift towards sustainable lifestyle is another factor expected to drive revenue growth of the market. Moreover, rising demand for vegan and organic food products due to its significant health benefits and minimal side effects has led to a shift in consumer preference towards plant based extracts. Furthermore, this has led to a rise in demand for plant based protein, which is expected to contribute significantly to revenue growth of the market.
Increase in health risks associated with meat consumption has led to rising adoption of vegan products as an alternative source of protein content. According to World Health Organization (WHO)'s International Agency for Research on Cancer (IARC), intake of red meat is carcinogenic to humans and conclusions had been based on proof for colorectal cancer. Data showed a positive correlation between processed meat consumption and stomach and pancreatic cancer. Meat processing, which includes curing, can result in formation of doubtless cancer-causing (carcinogenic) chemical substances including N-nitroso Compounds (NOC) and Polycyclic Aromatic Hydrocarbons (PAH). Meat also contains heme iron, which can facilitate production of carcinogenic NOCs. In addition, cooking meat in especially high-temperature can also produce carcinogenic chemicals such as heterocyclic aromatic amines (HAA) and PAHs.
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The study offers comprehensive coverage of the qualitative and quantitative analysis of the Plant Based Protein market along with crucial statistical data about the Plant Based Protein market. The research study provides historical data and offers accurate forecast estimation until 2030. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Some major companies in the global market report include Burcon NutraScience Corporation, The Scoular Company, DuPont de Nemours, Inc., NutriPea LP, Puris Proteins, LLC., The Green Labs LLC., Kerry Group plc., Ruchi Soya Industries Limited, Axiom Foods, Inc., and Wilmar International Limited.
Highlights from the Report
- The pea segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to rising demand for plant based protein substitutes.
- The concentrate segment is expected to account for largest revenue growth over the forecast period due to increasing use of protein concentrate in food and bakery products.
- The North America market is expected to register a larger revenue growth rate in the plant based protein market over the forecast period than other regional markets. This is due to robust presence of international and domestic enterprises providing plant based protein products, such as Burcon NutraScience Corporation, The Scoular Company, Axiom Foods, Inc., Puris Proteins, LLC., The Green Labs LLC., and NutriPea LP, among others in countries in the region.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Plant Based Protein industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Emergen Research has segmented the global plant based protein market based on source, type, form, application, and region:
- Source Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019–2030)
- Soybeans
- Wheat
- Pea
- Canola
- Rice
- Potato
- Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019–2030)
- Isolates
- Concentrates
- Textured
- Form Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019–2030)
- Dry Form
- Wet Form
- Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019–2030)
- Food Dairy Alternatives
- Meat Alternatives
- Performance Nutrition
The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
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Key Points of Plant Based Protein Market:
Extensive coverage of the analysis of the Plant Based Protein market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Plant Based Protein market
Complete data about the key manufacturers and vendors in the Plant Based Protein market
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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