Plant-based Protein Market

Plant-based Protein Market by Type (Isolates, Concentrates, Protein Flour), Application (Protein Beverages, Dairy Alternatives, Meat Alternatives, Protein Bars, Processed Meat, Poultry & Seafood, Bakery Product), Source, and Region - Global Forecast to 2025

Report Code: FB 7358 Sep, 2019, by marketsandmarkets.com

[149 Pages Report] The plant-based protein market is estimated to account for a value of USD 18.5 billion in 2019 and is projected to grow at CAGR of 14.0% from 2019, to reach a value of USD 40.6 billion by 2025. Plant-based protein products are derived from plant sources such as soy, wheat, and pea. Plant-based proteins are used in protein beverages, dairy alternatives, meat alternatives, proteins bars, nutrition supplements, processed meat, poultry & seafood, bakery, food, and sports nutrition products to enhance their nutritional and functional properties, such as texturing, emulsifying, solubility, stabilizing, and binding.

The major factors expected to drive the growth of the plant-based protein industry are the growing number of product launches, expansions, and investment by major players, consumers cutting down on meat consumption and adopting plant-based proteins,nutritional benefits offered by plant-based food, and increasing preference of consumers for the adoption of a vegan diet. Recently, ADM (US) expanded its geographic footprint in Brazil with the construction of a new soy protein production complex in Campo Grande, Mato Grosso do Sul, Brazil, at a value of USD 250 million. The complex will manufacture a range of functional protein concentrates and isolates for ADM’s current product line.

Consumers are focused towards a better understanding of the provenance of their food and avoid products deemed unnatural or unhealthy. These “clean” eating trends, driven primarily by millennials, favor foods that are healthy, ethically and naturally sourced, and less processed. Increased plant-based protein product consumption is a direct consequence of this shift.

Plant-based Protein Market

By source, the soy segment is projected to dominate the market during the forecast period.

This segment is driven by the increasing popularity and rising demand for a high-protein diet among individuals. Soy protein helps to reduce the cholesterol level, improve metabolism, bone mineral density, and also decrease the risk of cancer. Soy protein isolates are used in applications such as nutritional bars, meat alternatives, bakery products, sports nutrition products, and beverages.

By type, the isolates segment is projected to dominate the plant-based protein market during the forecast period.

Protein isolates contain a higher amount of protein along with greater digestibility. Isolates are demanded widely in protein and nutrition-oriented applications such as sports nutrition, protein beverages, and nutrition supplements. In recent years, they have been required more from athletes, bodybuilders, vegetarians, and have gained an extensive application in various beverages and dairy products, due to their different functional properties.

Plant-based Protein Market

Owing to the increasing awareness for healthy food ingredients and the trend of weight management among consumers is projected to drive the plant-based meat market in North America

Plant-based proteins are highly versatile and can be used in applications such as meat analogs and meat extenders. According to research conducted by key players in the market and government surveys, it has been recorded that consumers are demanding meat alternatives to reduce their meat consumption. This has resulted in a decrease in the demand for meat. For instance, pea proteins are used by processed meat manufacturers as a replacement, thus making them more economical.

Key Market Players

The key players in this market include Cargill (US), Archer Daniels Midland Company (US), DowDuPont (US), Glanbia Plc (Ireland), Kerry Group (Ireland), Tate & Lyle PLC (UK), Ingredion Incorporated (US), Burcon NutraScience Corporation (Canada), Royal DSM N.V, (Netherlands), Sotexpro S.A. (France), Axiom Foods (US), and The Scoular Company (US).

ADM (US) and DuPont Danisco (US) are the top two players in the global market. These companies have adopted expansion and investments as a key strategy to expand their presence in the plant-based protein market. For instance, in January 2019, ADM expanded its presence in Brazil with the construction of a new soy protein production complex in Campo Grande, Mato Grosso do Sul, Brazil, at a value of USD 250 million. The complex would manufacture a range of functional protein concentrates and isolates for ADM’s current product line

Scope of the report

Report Metric

Details

Market size available for years

2017-2025

Base year considered

2018

Forecast period

2019-2025

Forecast units

Value (USD Billion), Volume (KT)

Segments covered

Source, Type, Application, and Region

Geographies covered

North America, Europe, Asia Pacific, and Rest of World (RoW)

Companies covered

Cargill (US), Archer Daniels Midland Company (US), DowDuPont (US), Glanbia Plc (Ireland), Kerry Group (Ireland), Tate & Lyle PLC (UK), Ingredion Incorporated (US), Burcon NutraScience Corporation (Canada), Royal DSM N.V, (Netherlands), Sotexpro S.A. (France), Axiom Foods (US), and The Scoular Company (US)

This research report categorizes the plant-based protein market based on source, product, type, and region.

Based on the Source, the market has been segmented as follows:

  • Soy
  • Wheat
  • Pea
  • Others (Quinoa, oats, beans, nuts, and seeds)

Based on Type, the market has been segmented as follows

  • Isolates
  • Concentrates
  • Protein flour

Based on Application, the market has been segmented as follows

  • Protein beverages
  • Dairy alternatives
  • Meat alternatives
  • Protein bars
  • Nutrition supplements
  • Processed meat, poultry, and seafood
  • Bakery products
  • Convenience food
  • Sports nutrition

Based on the Region, the market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW) (South America and the Middle East & Africa)

Key questions addressed by the report

  • What are the new product areas the plant-based protein companies are exploring?
  • Which are the key players in the plant-based protein market and how intense is the competition?
  • What kind of competitors and stakeholders, such as plant-based protein companies, would be interested in this market? What will be their go-to-market strategy, and which emerging market will be of significant interest? 
  • How are the current R&D activities and M&A’s in the plant-based protein market projected to create a disrupting environment in the coming years?
  • What will be the level of impact, on the revenues of stakeholders, of the benefits of plant-based protein to different stakeholders‒‒from rising revenue, environmental regulatory compliance, to sustainable profits for the suppliers?  

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Regional Segmentation
    1.4 Periodization Considered
    1.5 Currency Considered
    1.6 Units Considered
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Plant-Based Protein Market
    4.2 Plant-Based Protein Market, By Region
    4.3 Plant-Based Protein Market, By Application
    4.4 Asia Pacific: Plant-Based Protein Market, By Source & Country

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rise in Trend of Health and Sustainability
                    5.2.1.2 Innovations in Terms of Integrating Plant-Based Proteins With Meat and Poultry Products
                    5.2.1.3 Increase in Cases of Lactose Intolerance and Milk Allergies
                    5.2.1.4 Growth in Investments in Plant-Based Food Businesses
                    5.2.1.5 Social Media Trends to Sway More Consumers Toward Plant-Based Proteins
           5.2.2 Restraints
                    5.2.2.1 Allergies Associated With Plant-Based Protein Sources Such as Soy and Wheat
           5.2.3 Opportunities
                    5.2.3.1 Constant Rise in Demand for Food With Organic Ingredients
                    5.2.3.2 Immense Opportunity in the Need for Alternative Solutions to Meet the Increasing Meat Demand
           5.2.4 Challenges
                    5.2.4.1 Increase in Production of and Adulteration With Genetically Modified (GM) Soybean
                    5.2.4.2 Unpleasant Flavor of Soy Products
    5.3 Regulatory Framework
           5.3.1 Burning Issues Regarding Protein Intake

6 Plant-Based Protein Market, By Source (Page No. - 46)
    6.1 Introduction
    6.2 Soy
           6.2.1 Significant Rise in Demand for Soy as an Alternative to Meat Protein Sources
    6.3 Wheat
           6.3.1 Consumption of Wheat Protein to Be the Highest in Europe as Compared to Other Regions
    6.4 Pea
           6.4.1 Rise in Demand for Plant-Based Meat and Healthy Food Products to Drive This Segment
    6.5 Others
           6.5.1 Increase in Awareness Regarding Various Benefits Associated With the Consumption of Oats

7 Plant-Based Protein Market, By Application (Page No. - 54)
    7.1 Introduction
    7.2 Protein Beverages
           7.2.1 Growth in Awareness of the Benefits of Protein in their Diets
    7.3 Dairy Alternatives
           7.3.1 Higher Demand for Dairy Alternatives That Provide A Sensory Taste as Well as Nutritional Benefits
    7.4 Meat Alternatives
           7.4.1 Shift in Consumption Patterns in the North American Region Toward Meat-Free Products
    7.5 Protein Bars
           7.5.1 Owing to the High Nutrition Levels, Protein Bars are Gaining Importance Among Health-Conscious Consumers
    7.6 Nutrition Supplements
           7.6.1 Application of Plant-Based Proteins in Nutrition Supplements Attributed to their High Amino Acid Profile
    7.7 Processed Meat, Poultry, and Seafood
           7.7.1 Pea Proteins are Used By Processed Meat Manufacturers as A More Economical Replacement for Animal Meat
    7.8 Bakery Products
           7.8.1 Growth in Trend of Natural Nutrition, Healthy Living, and Organic Products has Significantly Fueled the Demand for Plant-Based Proteins
    7.9 Convenience Food
           7.9.1 Increase in Health Consciousness and Obesity Levels Have Compelled Consumers to Focus on Healthy Diets
    7.1 Sports Nutrition
           7.10.1 Protein Powders, Which are A Mainstay of Sports Nutrition Products, are in High Demand

8 Plant-Based Protein Market, By Type (Page No. - 68)
    8.1 Introduction
    8.2 Isolates
           8.2.1 Isolates to Witness High Growth Due to the Rising Awareness About Healthy Food Habits Among Consumers
    8.3 Concentrates
           8.3.1 Concentrates to Witness High Demand From the North American Packaged Food & Beverage Sector
    8.4 Protein Flour
           8.4.1 Fast-Paced Lifestyles in Developed and Developing Countries Drive the Demand for Protein Flour in Several Food Applications

9 Plant-Based Protein Market, By Region (Page No. - 74)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 The US is Largely Influenced By the Health & Wellness Trend
           9.2.2 Canada
                    9.2.2.1 Shift Toward Lower-Cost and Nutrition-Rich Plant-Based Dairy Alternatives in the Country
           9.2.3 Mexico
                    9.2.3.1 Preference for A Healthy and Nutritional Diet Among Mexican Consumers has Resulted in Significant Demand for Protein-Rich Food Products
    9.3 Europe
           9.3.1 Germany
                    9.3.1.1 Rise in Health Awareness, Along With the Increase in the Vegetarian and Vegan Population
           9.3.2 France
                    9.3.2.1 The Well-Established Food Industry of France is Experiencing Significant Prevalence in Demand for Healthy, Nutritious, and Plant-Based Food Products
           9.3.3 Switzerland
                    9.3.3.1 More Plant-Based Food & Beverage Players Entering the Swiss Market Due to the Massive Demand in the Country
           9.3.4 UK
                    9.3.4.1 Plant-Based Drinks Have Been Largely Trending in the UK in Recent Years
           9.3.5 Spain
                    9.3.5.1 Growth in the Inclination of Millennials Toward Protein-Rich and Nutritious Food to Drive the Spanish Plant-Based Protein Market
           9.3.6 Netherlands
                    9.3.6.1 Government Support Toward A Plant-Based Protein Diet
           9.3.7 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
                    9.4.1.1 Western Culture Encouraging Urban Chinese Consumers Toward Natural and Healthy Plant-Based Food
           9.4.2 Japan
                    9.4.2.1 Aging Population of Japan Opt for Plant-Based Healthy Food Options
           9.4.3 India
                    9.4.3.1 Increase in Demand for Plant-Based Performance Nutrition Products to Drive the Demand in India
           9.4.4 Australia & New Zealand
                    9.4.4.1 Increase in Demand for Functional Food & Beverages With Natural Ingredients Observed in these Two Countries
           9.4.5 Rest of Asia Pacific
    9.5 RoW
           9.5.1 South America
                    9.5.1.1 Increase in Preferences Toward Plant-Based Food and Protein
           9.5.2 Middle East & Africa
                    9.5.2.1 Greater Awareness Among Consumers About the Benefits of Food & Beverages Products With Natural Ingredients

10 Competitive Landscape (Page No. - 105)
     10.1 Overview
     10.2 Competitive Leadership Mapping
             10.2.1 Visionary Leaders
             10.2.2 Innovators
             10.2.3 Dynamic Differentiators
             10.2.4 Emerging Companies
     10.3 Ranking of Key Players, 2018
     10.4 Competitive Scenario
             10.4.1 New Product Launches & Approvals
             10.4.2 Expansions & Investments
             10.4.3 Acquisitions
             10.4.4 Partnerships, Agreements, and Collaborations

11 Company Profiles (Page No. - 113)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)* 
     11.1 Glanbia
     11.2 Cargill
     11.3 ADM
     11.4 DowDuPont
     11.5 Kerry
     11.6 Ingredion
     11.7 Tate & Lyle
     11.8 Royal DSM
     11.9 Burcon Nutrascience Corporation
     11.10 The Scoular Company
     11.11 Axiom Foods
     11.12 Sotexpro S.A
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies. 

12 Appendix (Page No. - 140)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (86 Tables)

Table 1 USD Exchange Rate, 2014–2018
Table 2 Lactose Intolerance Rate, By Ethnicity
Table 3 Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 4 Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 5 Characteristics of Soy Protein Ingredients in Application Segments
Table 6 Soy: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 7 Soy: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 8 Wheat: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 9 Wheat: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 10 Pea: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 11 Pea: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 12 Others: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 13 Others: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 14 Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 15 Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 16 Protein Beverages: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 17 Protein Beverages: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 18 Dairy Alternatives: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 19 Dairy Alternatives: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 20 Meat Alternatives: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 21 Meat Alternatives: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 22 Protein Bars: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 23 Protein Bars: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 24 Essential Amino Acids in Plant-Based Proteins and their Functions
Table 25 Nutrition Supplements: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 26 Nutrition Supplements: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 27 Processed Meat, Poultry, and Seafood: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 28 Processed Meat, Poultry, and Seafood: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 29 Bakery Products: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 30 Bakery Products: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 31 Convenience Food: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 32 Convenience Food: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 33 Sports Nutrition: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 34 Sports Nutrition: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 35 Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 36 Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 37 Isolates: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 38 Isolates: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 39 Concentrates: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 40 Concentrates: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 41 Protein Flour: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 42 Protein Flour: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 43 Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 44 Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 45 Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 46 Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 47 Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 48 Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 49 Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 50 Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 51 North America: Plant-Based Protein Market Size, By Country, 2017–2025 (USD Million)
Table 52 North America: Plant-Based Protein Market Size, By Country, 2017–2025 (Kt)
Table 53 North America: Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 54 North America: Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 55 North America: Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 56 North America: Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 57 North America: Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 58 North America: Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 59 Europe: Plant-Based Protein Market Size, By Country, 2017–2025 (USD Million)
Table 60 Europe: Plant-Based Protein Market Size, By Country, 2017–2025 (Kt)
Table 61 Europe: Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 62 Europe: Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 63 Europe: Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 64 Europe: Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 65 Europe: Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 66 Europe: Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 67 Asia Pacific: Plant-Based Protein Market Size, By Country/Region, 2017–2025 (USD Million)
Table 68 Asia Pacific: Plant-Based Protein Market Size, By Country/Region, 2017–2025 (Kt)
Table 69 Asia Pacific: Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 70 Asia Pacific: Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 71 Asia Pacific: Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 72 Asia Pacific: Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 73 Asia Pacific: Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 74 Asia Pacific: Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 75 RoW: Plant-Based Protein Market Size, By Region, 2017–2025 (USD Million)
Table 76 RoW: Plant-Based Protein Market Size, By Region, 2017–2025 (Kt)
Table 77 RoW: Plant-Based Protein Market Size, By Type, 2017–2025 (USD Million)
Table 78 RoW: Plant-Based Protein Market Size, By Type, 2017–2025 (Kt)
Table 79 RoW: Plant-Based Protein Market Size, By Source, 2017–2025 (USD Million)
Table 80 RoW: Plant-Based Protein Market Size, By Source, 2017–2025 (Kt)
Table 81 RoW: Plant-Based Protein Market Size, By Application, 2017–2025 (USD Million)
Table 82 RoW: Plant-Based Protein Market Size, By Application, 2017–2025 (Kt)
Table 83 New Product Launches & Approvals, 2014–2019
Table 84 Expansions & Investments, 2016–2019
Table 85 Acquisitions, 2017–2019
Table 86 Partnerships, Agreements, and Collaborations, 2018–2019


List of Figures (52 Figures)

Figure 1 Plant-Based Protein Market Segmentation
Figure 2 Plant-Based Protein Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Plant-Based Protein Market Size, 2017–2025 (USD Million)
Figure 8 Plant-Based Protein Market Size, 2017–2025 (Kt)
Figure 9 Isolates Segment is Projected to Dominate the Plant-Based Protein Market Through 2025 (USD Million)
Figure 10 The Concentrates Segment is Projected to Dominate the Plant-Based Protein Market Through 2025 (Kt)
Figure 11 Soy is Projected to Dominate the Plant-Based Protein Market Through 2025 (USD Million)
Figure 12 Soy Segment is Projected to Dominate the Plant-Based Protein Market Through 2025 in Terms of Volume as Well (Kt)
Figure 13 Protein Beverages Segment is Projected to Dominate the Plant-Based Protein Market Through 2025 (USD Million)
Figure 14 Protein Beverages Segment is Projected to Dominate the Plant-Based Protein Market Through 2025 in Terms of Volume as Well (Kt)
Figure 15 Plant-Based Protein Market Share and Growth (Value), By Region, 2018
Figure 16 Obesity Share Among Adults, By Key Country, 2015
Figure 17 Growth in Vegetarian Population to Drive the Plant-Based Protein Market
Figure 18 North America to Dominate the Plant-Based Protein Market From 2019 to 2025
Figure 19 Protein Beverages Segment is Estimated to Be the Largest From 2019 to 2025
Figure 20 Soy Protein Accounted for the Largest Share of the Asia Pacific Market in 2018
Figure 21 US, France, and Spain are Projected to Grow at the Highest Rates During the Forecast Period
Figure 22 Annual US Sales of Plant-Based Foods, 2017–2019 (USD Billion)
Figure 23 Market Dynamics: Plant-Based Protein Market
Figure 24 Annual Growth of All Plant-Based Food Products in Retail, 2017 vs. 2018
Figure 25 Google Search Trends: Vegan Protein Powder, 2010–2019
Figure 26 Google Search Trends: Mayonnaise Protein Powder, 2010–2019
Figure 27 Meat Consumption, By Type, 2005 vs. 2050 (Million Ton)
Figure 28 Plant-Based Protein Market Size, By Source, 2019 vs. 2025 (USD Million)
Figure 29 Plant-Based Protein Market Size, By Application, 2019 vs. 2025 (USD Million)
Figure 30 Plant-Based Protein Market Size, By Type, 2019 vs. 2025 (USD Million)
Figure 31 Geographic Snapshot: CAGR(Value), 2019–2025
Figure 32 North America: Market Snapshot
Figure 33 Europe: Market Snapshot
Figure 34 Asia Pacific: Market Snapshot
Figure 35 Plant-Based Protein Market: Competitive Leadership Mapping, 2019 (Top 25)
Figure 36 Key Developments of the Leading Players in the Plant-Based Protein Market, 2014–2019
Figure 37 Archer Daniels Midland Company Led the Plant-Based Protein Market in 2018
Figure 38 Glanbia: Company Snapshot
Figure 39 Glanbia: SWOT Analysis
Figure 40 Cargill: Company Snapshot
Figure 41 Cargill: SWOT Analysis
Figure 42 ADM: Company Snapshot
Figure 43 ADM: SWOT Analysis
Figure 44 DowDuPont: Company Snapshot
Figure 45 DowDuPont: SWOT Analysis
Figure 46 Kerry: Company Snapshot
Figure 47 Kerry: SWOT Analysis
Figure 48 Ingredion: Company Snapshot
Figure 49 Tate & Lyle: Company Snapshot
Figure 50 Royal DSM: Company Snapshot
Figure 51 Burcon Nutrascience Corporation: Company Snapshot
Figure 52 The Scoular Company: Company Snapshot

The study involves four major activities to estimate the current market size for plant-based protein. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. These findings, assumptions, and market size were validated with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases.

Primary Research

The plant-based protein market comprises several stakeholders such as meat alternative manufacturers, dairy alternative manufacturers, sports nutrition manufacturers, food importers and exporters, intermediary suppliers (traders and distributors of plant-based sources such as soy , pea, corn, chia, and flax), government and research organizations, associations and industry bodies, venture capitalists and investors

The demand-side of this market is characterized by the rising demand for plant protein sources. The supply-side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of the primary respondents:

Plant-based Protein Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the plant-based protein market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value and volume, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary respondents

Data Triangulation

After arriving at the overall market size—using the market size estimation processes, as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed. The data was triangulated by studying various factors and trends from both the demand and supply sides in the food industry.

Report Objectives

  • To define, segment, and project the global market size for the plant-based protein market
  • To understand the structure of the plant-based protein market by identifying its various subsegments
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micromarkets, with respect to individual growth trends, future prospects, and their contribution to the total plant-based beverages market
  • To project the size of the market and its submarkets, in terms of value and volume, with respect to the regions (along with their respective key countries)
  • To profile the key players and comprehensively analyze their core competencies
  • To understand the competitive landscape and identify the major growth strategies adopted by the players across key regions
  • To analyze the competitive developments such as expansions & investments, mergers & acquisitions, new product launches, partnerships, joint ventures, and agreements

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports as per client-specific requirements. The available customization options are as follows:

Regional Analysis

  • Further breakdown of the Rest of Asia Pacific plant-based protein market, by country
  • Further breakdown of other Rest of Europe plant-based protein market, by country
  • Further breakdown of other Rest of the World plant-based protein market, by country

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
FB 7358
Published ON
Sep, 2019
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