Plant-based Protein Market

Plant-based Protein Market by Source (Soy, Wheat, and Pea), Type (Isolates, Concentrates, and Textured), Form, Application (Food(Dairy Alternatives, Meat Alternatives, and Performance Nutrition) and Feed), and Region - Global Forecast to 2026

Report Code: FB 7358 Feb, 2021, by marketsandmarkets.com

[216 Pages Report] According to MarketsandMarkets, the global plant-based protein market size is projected to grow from USD 10.3 billion in 2020 to USD 15.6 billion by 2026, recording a CAGR of 7.2% during the forecast period. This is attributed to the growing usage of pea protein in food industry and innovation in the technologies used for extraction of plant-based protein. North America region accounted for the largest market share in the global plant-based protein market.

Plant-based Protein Market

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Market Dynamics

Drivers: Rise in demand for wellness-focused organic food & beverages

The changing consumer preferences have showcased a growing consumer shift toward adapting to a more nutritional diet centered towards a more sustainable lifestyle and lower dependency on animal proteins. A considerable percentage of the millennial population in Western countries has been observed regarding their changing food habits as consumers move from conventional animal-based products to organic and plant-based food products as an ideal food solution. In recent years, the adoption of plant-based food & beverages among the consumers has been higher due to the broader scope of product availability, improved product developments and innovation into plant-based proteins and a broader scope of available alternatives and substitutes.  

Restraints: Allergies associated with plant-based protein sources

Plant-based food & beverages have functional health benefits and consist of essential minerals; however, in several cases, the consumption of select sources, such as soy and wheat, has been identified as allergens resulting in cautious consumer acceptance. Soybeans have s strong nutrient content profile including, vitamins, minerals, and proteins; however, antinutritional components present in soy could cause allergies. According to the Cleveland Clinic, soy is one of the “Big Eight” allergens, along with cow’s milk, eggs, peanuts, tree nuts, wheat, fish, and shellfish, responsible for 90% of all food allergies. A soy allergy occurs when the human immune system mistakes the harmless proteins found in soy as harmful and produces antibodies to combat them. Moreover, soy protein has large quantities of phytic acid, which has the potential to block the absorption of essential minerals, such as calcium, magnesium, copper, iron, and zinc. Soy allergy could also lead to itching and hives in humans. The other aspect is of gluten allergy, which commonly occurs in wheat proteins exhibiting a similar set of characteristics, which has had an impact on the growth prospects of both protein sources. 

Opportunities: Rise in demand for food & beverages with organic Ingredients

The organic plant-based protein market has the potential to change the business landscape in the overall plant protein ingredients market. According to the Research Institute of Organic Agriculture (FiBL), “a total of 71.5 million hectares were organically managed at the end of 2018, representing a growth of 2.9 percent or 2 million hectares compared to 2017, the largest growth ever recorded.” In 2018, 2.8 million organic producers were reported globally, and India continues to be dominant with the highest number of producers. Growth of the organic food products market is also expected to boost the growth of the organic plant-based protein ingredients market.

Challenges: Concerns over source quality in food and beverage products due to the use of genetically modified crops

Soy, wheat, and pea are among the prominent sources used in the processing and production of plant-based proteins and are produced primarily in countries such as Brazil, the US, Canada, China, and India. These countries also represent a key portion of the demand for plant-based food & beverages among consumers. However, to meet the growing demand for various plant-based protein sources, farmers often grow genetically modified (GM) crops, which is often seen unfavorably by consumers. To that effect, non-GMO soybeans are primarily used for human consumption, whereas the GM soybeans are found mostly in livestock feed. However, producers are focusing their efforts on the production of non-GMO soybeans, resulting in a higher cost of production, often resulting in lower margins during sales. 

By type, the isolates segment is projected to grow with the highest CAGR in the plant-based protein market during the forecast period

The isolate segment, by type, is projected to grow at the highest revenue CAGR during the forecast period. Isolates are the most refined form of protein products containing a higher concentration of protein. They are easily digestible and can be incorporated into different food products. Protein isolates have been developed from a variety of legumes such as soy, pea, canola, and other sources such as rice and oats. It has a high concentration of protein, with the advantage of color, flavor, and functional properties, which make it an ideal raw ingredient to be used in applications such as beverages, infant foods, children's food, and other types of specialty foods

By application, the food segment is estimated to account for the largest market share in 2020 in the plant-based protein market.

The food industry of the plant-based protein market is at the forefront of the plant-based revolution. Changing consumer preferences driven by awareness toward meat sourcing practices, its ecological impact, and animal-borne diseases have led to more consumers opting out of meat consumption. The resulting change has led to consumer demand shifting from conventional animal-based proteins to plant-based alternatives. The growing vegan trend has led to an upsurge in manufacturer presence in the sector.

The dry segment in the plant-based protein market is estimated to dominate the market in 2020.

By form, the market for dry plant-based is estimated to dominate the plant-based protein market in 2020. The dry form of processing of protein is used in the production of protein concentrates. It involves dry milling technology, which is used to reduce the particle size of raw material into fine particles. This method is used to process pulses and cereal, which is correlated to their specific tissue architecture and milling behavior. The process relies on differential particle size and density within the milled flour. Once milled, the air classification process is used to separate the smaller protein rice fragments from larger starch-rich granules or fiber-rich granules.  

Plant-based Protein Market by Region

North America is projected to account for the largest share in the global plant-based protein market during the forecast period.

The North American market accounted for the largest share in 2020 due to the presence of some of the leading manufacturers such as Cargill (US), ADM (US), DuPont (US), and Puris (US).  The North American region has been a key driver for the growth of the plant-based protein market owing to the investments in product manufacturers as well as processing units. The region is a key producer of different sources, including soy, wheat, and pea, with the combined output from the region dominating the global export market. The growing trend of veganism in the region also continues to propel plant-based protein products into the mainstream. The rising incidences of obesity, cardiovascular diseases, and diabetes among the American population has also prompted consumers to adopt vegan diets.

Key Market Players:

The key players in the plant-based protein market include DSM (Netherlands), ADM (US), DuPont (US), Kerry Group (Ireland), Cargill (US), Glanbia (Ireland), Wilmar International (Singapore), Emsland Group (Germany), Puris (US), Cosucra Group (Belgium), Batory Foods (US), Roquette Freres (France), Ingredion (US), Burcon Nutracience (Canada), Sotexpro (France), AGT Food & Ingredients (Canada), BENEO (Germany), Prolupin Gmbh (Germany), Aminola (Netherlands), Herblink Biotech Corporation (China), ET  Chem (China), Shandong Jianyuan Group (China), The Green Labs LLC (US), and Parabel (US). These players have broad industry coverage and strong operational and financial strength.

Scope of the report

Report Metric

Details

Market size estimation

2018–2026

Base year considered

2019

Forecast period considered

2020–2026

Units considered

Value (USD) & Volume (KT)

Segments covered

Type, application, source, form, and region

Regions covered

North America, Europe, Asia Pacific, South America and RoW

Companies studied

  • Archer Daniels Midland Company (ADM) (US)
  • Wilmar International (US)
  • Cosucra Groupe (Belgium)
  • Emsland Group (Germany)
  • Cargill (US)
  • Ingredion (US)
  • DuPont (US)
  • Roquette Frères (France)
  • PURIS (US)
  • Kerry Group (Ireland)
  • Burcon NutraScience Corp. (Canada)
  • Sotexpro (France).
  • Glanbia (Ireland)
  • DSM (Netherlands)
  • Batory Foods (US)
  • AGT Food & Ingredients (Canada)
  • Axiom Foods (US)
  • Prolupin GMBH (Germany)
  • Aminola (Netherlands)
  • Herblink Biotech Corporation (China)
  • BENEO (Germany)
  • ET Chem (China)
  • Shandong Jianyuan Group (China)
  • The Green Labs LLC (US)
  • Parabel (US)

Target Audience:

  • Product development personnel
  • Plant-based meat manufacturers
  • Consumers
  • Marketing and sales managers
  • Commercial research and development (R&D) institutions and financial institutions
  • Government and research organizations
  • Marketing directors
  • Key executives from various key companies and organizations in the plant-based protein market

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

By Application

  • Food
    • Meat, poultry, and seafood
    • Bakery products
    • Meat alternatives
    • Dairy & dairy alternatives
    • Cereals & snacks
    • Beverages
    • Other food applications (confectioneries, baby food products, and pet food products)
  • Feed

By Type

  • Isolates
  • Concentrates
  • Textured

By Source

  • Soy
  • Wheat
  • Pea
  • Other sources (canola protein, rice protein, and potato protein)

By Form

  • Dry
  • Liquid

By Region

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

Recent Developments

  • 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.
  • In September 2019, ADM expanded the production capacity of its CLARISOY soy protein isolate line of products to meet the growing consumer demand for soy protein isolates.
  • In January 2018, Cargill entered into an agreement with pea protein producer, PURIS (US), for the supply of peas for Cargill’s line of organic, non-GMO pea protein products
  • In February 2019, Glanbia PLC acquired Watson (US), a US-based manufacturer and supplier of high-quality custom nutrient premixes, bakery ingredients, edible films, and material conditioning solutions for the nutrition, food & beverage, personal care, and supplement industries.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 20)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           FIGURE 1 PLANT-BASED PROTEIN MARKET SEGMENTATION
           1.3.1 REGIONAL SEGMENTATION
           1.3.2 PERIODIZATION CONSIDERED
    1.4 CURRENCY CONSIDERED
           TABLE 1 USD EXCHANGE RATES, 2014–2018
    1.5 VOLUME UNIT CONSIDERED
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 25)
    2.1 RESEARCH DATA
           FIGURE 2 PLANT-BASED PROTEIN MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from secondary sources
                    2.1.2.2 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION
           2.2.1 PLANT-BASED PEA PROTEIN MARKET SIZE ESTIMATION: METHOD 1
           2.2.2 PLANT-BASED PROTEIN MARKET SIZE ESTIMATION: METHOD 2
           2.2.3 PLANT-BASED PROTEIN MARKET SIZE ESTIMATION NOTES
    2.3 DATA TRIANGULATION
           FIGURE 3 DATA TRIANGULATION METHODOLOGY
    2.4 ASSUMPTIONS FOR THE STUDY
    2.5 LIMITATIONS OF THE STUDY
    2.6 COVID-19 HEALTH ASSESSMENT
           FIGURE 4 COVID-19: GLOBAL PROPAGATION
           FIGURE 5 COVID-19 PROPAGATION: SELECT COUNTRIES
    2.7 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 6 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
           2.7.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
           FIGURE 7 CRITERIA IMPACTING GLOBAL ECONOMY
           FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY

3 EXECUTIVE SUMMARY (Page No. - 40)
           TABLE 2 PLANT-BASED PROTEIN MARKET SNAPSHOT, 2020 VS. 2026
           FIGURE 9 PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2020 VS. 2026 (USD MILLION)
           FIGURE 10 PLANT-BASED PROTEIN MARKET SIZE, BY FORM, 2020 VS. 2026 (USD MILLION)
           FIGURE 11 PLANT-BASED PROTEIN MARKET SIZE, BY TYPE, 2020 VS. 2026 (USD MILLION)
           FIGURE 12 PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
           FIGURE 13 PLANT-BASED PROTEIN MARKET SIZE IN FOOD, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
           FIGURE 14 PLANT-BASED PROTEIN MARKET SHARE & GROWTH (VALUE), BY REGION

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 OPPORTUNITIES IN THE PLANT-BASED PROTEIN MARKET
           FIGURE 15 INCREASE IN DEMAND FOR MEAT SUBSTITUTES AND VEGAN-FRIENDLY PRODUCTS TO WIDEN GROWTH PROSPECTS FOR PLANT-BASED PROTEIN
    4.2 PLANT-BASED PROTEIN MARKET, BY SOURCE
           FIGURE 16 SOY TO DOMINATE AMONG THE SOURCES OF PLANT-BASED PROTEIN
    4.3 PLANT-BASED PROTEIN MARKET, BY FORM
           FIGURE 17 DRY PLANT-BASED PROTEIN TO DOMINATE ON THE BASIS OF FORM
    4.4 PLANT-BASED PROTEIN MARKET, BY TYPE
           FIGURE 18 CONCENTRATES TO BE THE DOMINANT TYPE OF PLANT-BASED PROTEIN
    4.5 PLANT-BASED PROTEIN MARKET, BY APPLICATION
           FIGURE 19 FOOD TO DOMINATE THE PLANT-BASED PROTEIN MARKET ON THE BASIS OF APPLICATION
    4.6 PLANT-BASED PROTEIN MARKET IN FOOD, BY APPLICATION
           FIGURE 20 MEAT ALTERNATIVES TO DOMINATE THE PLANT-BASED PROTEIN MARKET ON THE BASIS OF FOOD APPLICATION
    4.7 NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE AND COUNTRY
           FIGURE 21 NORTH AMERICA: THE US WAS ONE OF THE MAJOR CONSUMERS ACROSS THE GLOBE IN 2019
    4.8 PLANT-BASED PROTEIN MARKET, BY REGION
           FIGURE 22 ASIA PACIFIC AND NORTH AMERICA ARE PROJECTED TO WITNESS HIGH GROWTH DURING THE FORECAST PERIOD
    4.9 COMPARISON GRAPH OF PRE- AND POST-COVID-19 SCENARIO
           FIGURE 23 COMPARISON GRAPH OF PRE- AND POST-COVID-19 SCENARIO

5 MARKET OVERVIEW (Page No. - 51)
    5.1 INTRODUCTION
           FIGURE 24 US: ANNUAL SALES OF PLANT-BASED FOOD & BEVERAGES, 2017–2019 (USD BILLION)
    5.2 MARKET DYNAMICS
           FIGURE 25 PLANT-BASED PROTEIN MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rise in demand for health-enriching organic food & beverages
                    5.2.1.2 Innovations and developments related to plant-based protein to encourage the vegan trend
           FIGURE 26 US: FOOD PREFERENCES OF POPULATION, 2018
                    5.2.1.3 Rise in population with lactose intolerance
           TABLE 3 LACTOSE INTOLERANCE RATE, BY ETHNICITY
                    5.2.1.4 Increase in investments & collaborations in the plant-based food business
           FIGURE 27 GREENHOUSE GAS EMISSION FROM AVERAGE FOOD CONSUMPTION, BY FOOD TYPE, 2018
           5.2.2 RESTRAINTS
                    5.2.2.1 Allergies associated with plant-based protein sources such as soy & wheat
                    5.2.2.2 Possibilities of nutritional & vitamin deficiencies among vegans
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rise in demand for food & beverages with organic ingredients
                    5.2.3.2 Increase in preference of consumers for meat alternatives
                    5.2.3.3 Focus on aquatic plants as new and emerging sources of protein
           5.2.4 CHALLENGES
                    5.2.4.1 Concerns over the quality of food & beverages due to GM ingredient adulteration
                    5.2.4.2 Economic constraints related to the processing capacity of pea protein
    5.3 VALUE CHAIN
           FIGURE 28 PLANT-BASED PROTEIN MARKET: VALUE CHAIN
    5.4 AVERAGE PRICING OF PLANT-BASED PROTEIN
           5.4.1 AVERAGE PRICE OF PLANT-BASED PROTEIN, BY SOURCE, 2018, 2019 & 2026 (USD/TON)
    5.5 PATENT ANALYSIS
           TABLE 4 KEY PATENTS PERTAINING TO PLANT-BASED PROTEIN, 2019–2020
    5.6 ECOSYSTEM & MARKET MAP
           FIGURE 29 MARKET ECOSYSTEM
           FIGURE 30 MARKET MAP
    5.7 KEY MARKET FOR IMPORT/EXPORT
           5.7.1 SOYBEAN
           TABLE 5 TOP 10 IMPORTERS AND EXPORTERS OF SOYBEANS, 2019 (KT)
           5.7.2 WHEAT
           TABLE 6 TOP 10 IMPORTERS AND EXPORTERS OF WHEAT, 2019 (KT)
           5.7.3 PEA
           TABLE 7 TOP 10 IMPORTERS AND EXPORTERS OF PEA, 2019 (KT)
           5.7.4 RICE
           TABLE 8 TOP 10 IMPORTERS AND EXPORTERS OF RICE, 2019 (KT)
           5.7.5 POTATO
           TABLE 9 TOP 10 IMPORTERS AND EXPORTERS OF POTATO, 2019 (KT)
    5.8 PORTER’S FIVE FORCES
           TABLE 10 PLANT-BASED PROTEIN MARKETS: PORTER’S FIVE FORCE
    5.9 YC-YCC SHIFT
           FIGURE 31 YC & YCC SHIFT FOR THE PLANT-BASED PROTEIN MARKET

6 PLANT-BASED PROTEIN MARKET: A COMPARATIVE ANALYSIS WITH ALTERNATIVE PROTEIN SOURCES (Page No. - 66)
    6.1 WHAT IS PLANT PROTEIN?
           FIGURE 32 MAJOR HIGHLIGHTS IN PLANT PROTEIN
           6.1.1 DEVELOPMENT OF NEW PLANT-BASED SOURCES ARE CONTRIBUTING TO THE GROWTH OF THE PLANT-BASED PROTEINS MARKET ON A GLOBAL LEVEL
           FIGURE 33 PROTEIN CONSUMPTION, BY SOURCE, 2018
           6.1.2 COMPREHENSIVE PROFILES OF ALTERNATIVE PROTEIN SOURCES
           FIGURE 34 PEA PROTEIN: COMPREHENSIVE PROFILE
           FIGURE 35 SOY PROTEIN: COMPREHENSIVE PROFILE
           FIGURE 36 INSECT PROTEIN: COMPREHENSIVE PROFILE
           FIGURE 37 MYCOPROTEIN: COMPREHENSIVE PROFILE
           FIGURE 38 CULTURED MEAT: COMPREHENSIVE PROFILE
           FIGURE 39 WHEY PROTEIN: COMPREHENSIVE PROFILE
           6.1.3 WHAT IS THE NEED FOR INNOVATION IN THE INDUSTRY?
           6.1.4 COMPARATIVE ANALYSIS
           TABLE 11 COMPARATIVE ANALYSIS OF PROFILES OF KEY PLANT PROTEIN PRODUCTS
           6.1.5 CONCLUSION

7 PLANT-BASED PROTEIN, BY SOURCE (Page No. - 76)
    7.1 INTRODUCTION
           FIGURE 40 PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
           TABLE 12 PLANT-BASED PROTEIN MARKET SHARE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 13 PLANT-BASED PROTEIN MARKET SHARE, BY SOURCE, 2018–2026 (KT)
           7.1.1 COVID-19 IMPACT ON THE PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2021
           TABLE 14 PESSIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2021 (USD MILLION)
           TABLE 15 REALISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2021 (USD MILLION)
           TABLE 16 OPTIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2021 (USD MILLION)
    7.2 SOY
           7.2.1 PRODUCTION AND EXPORTS OF SOYBEANS TO DRIVE THE DEMAND FOR SOY PROTEIN
           TABLE 17 PLANT-BASED PROTEIN MARKET SIZE FOR SOY, BY REGION, 2018–2026 (USD MILLION)
           TABLE 18 PLANT-BASED PROTEIN MARKET SIZE FOR SOY, BY REGION, 2018–2026 (KT)
    7.3 WHEAT
           7.3.1 BINDING CHARACTERISTICS TO DRIVE THE DEMAND FOR WHEAT PROTEIN
           TABLE 19 PLANT-BASED PROTEIN MARKET SIZE FOR WHEAT, BY REGION, 2018–2026 (USD MILLION)
           TABLE 20 PLANT-BASED PROTEIN MARKET SIZE FOR WHEAT, BY REGION, 2018–2026 (KT)
    7.4 PEA
           TABLE 21 PLANT PROTEIN MARKET SIZE FOR PEA, BY REGION, 2018–2026 (USD MILLION)
           TABLE 22 PLANT PROTEIN MARKET SIZE FOR PEA, BY REGION, 2018–2026 (KT)
    7.5 OTHER SOURCES
           TABLE 23 PLANT-BASED PROTEIN MARKET SIZE FOR OTHER SOURCES, BY REGION, 2018–2026 (USD MILLION)

8 PLANT-BASED PROTEIN MARKET, BY APPLICATION (Page No. - 84)
    8.1 INTRODUCTION
           FIGURE 41 PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
           TABLE 24 PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2026 (USD MILLION)
           TABLE 25 SOY-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2026 (USD MILLION)
           TABLE 26 WHEAT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2026 (USD MILLION)
           TABLE 27 PEA-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2026 (USD MILLION)
           8.1.1 COVID-19 IMPACT ON THE PLANT-BASED PROTEIN MARKET, BY APPLICATION (2018–2021)
           TABLE 28 PESSIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 29 REALISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 30 OPTIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
    8.2 FOOD
           8.2.1 INNOVATIVE FOOD PRODUCTS AND VEGAN TRENDS TO SUPPORT THE GROWTH OF FOOD APPLICATIONS
           TABLE 31 PLANT-BASED PROTEIN MARKET SIZE IN FOOD, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 32 PLANT-BASED PROTEIN MARKET SIZE IN FOOD, BY APPLICATION, 2018–2026 (USD MILLION)
           8.2.2 MEAT ALTERNATIVES
           8.2.3 DAIRY ALTERNATIVES
           8.2.4 BAKERY PRODUCTS
           8.2.5 PERFORMANCE NUTRITION
           8.2.6 CONVENIENCE FOODS
           8.2.7 OTHER FOOD APPLICATIONS
    8.3 FEED
           8.3.1 MEAT PRODUCTION TO DRIVE THE DEMAND FOR PLANT-BASED PROTEINS IN FEED APPLICATIONS
           TABLE 33 PLANT-BASED PROTEIN MARKET SIZE IN FEED, BY SOURCE, 2018–2026 (USD MILLION)

9 PLANT-BASED PROTEIN, BY FORM (Page No. - 92)
    9.1 INTRODUCTION
           FIGURE 42 PLANT-BASED PROTEIN MARKET SIZE, BY FORM, 2020 VS. 2026 (USD MILLION)
           TABLE 34 PLANT PROTEIN MARKET SIZE, BY FORM, 2018–2026 (USD MILLION)
           9.1.1 COVID-19 IMPACT ON THE PLANT-BASED PROTEIN, BY FORM, 2018–2021
           TABLE 35 PESSIMISTIC SCENARIO: PLANT PROTEIN MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
           TABLE 36 REALISTIC SCENARIO: PLANT PROTEIN MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
           TABLE 37 OPTIMISTIC SCENARIO: PLANT PROTEIN MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
    9.2 DRY
           9.2.1 INCREASE IN THE USE OF DRY PROTEIN PRODUCTS IN A WIDE RANGE OF APPLICATIONS IS PROJECTED TO DRIVE ITS MARKET GROWTH
           TABLE 38 DRY PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)
    9.3 LIQUID
           9.3.1 WIDESPREAD ADAPTABILITY AND EASE IN PROCESSING DRIVES THE DEMAND FOR LIQUID PROCESSING OF PLANT PROTEINS
           TABLE 39 LIQUID PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)

10 PLANT-BASED PROTEIN MARKET, BY TYPE (Page No. - 97)
     10.1 INTRODUCTION
           FIGURE 43 PLANT-BASED PROTEIN MARKET SIZE, BY TYPE, 2020 VS. 2026 (USD MILLION)
           TABLE 40 PLANT-BASED PROTEIN MARKET SHARE, BY TYPE, 2018–2026 (USD MILLION)
             10.1.1 COVID-19 IMPACT ON THE PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2021
           TABLE 41 PESSIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY TYPE, 2018–2021 (USD MILLION)
           TABLE 42 REALISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY TYPE, 2018–2021 (USD MILLION)
           TABLE 43 OPTIMISTIC SCENARIO: PLANT-BASED PROTEIN MARKET SIZE, BY TYPE, 2018–2021 (USD MILLION)
     10.2 ISOLATES
             10.2.1 INCLUSION OF PLANT PROTEIN CONCENTRATES IN INFANT NUTRITION TO DRIVE THE MARKET GROWTH
           TABLE 44 PLANT-BASED PROTEIN ISOLATES MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     10.3 CONCENTRATES
             10.3.1 RISE IN CONSUMPTION OF HEALTH-ENRICHING BAKED FOOD PRODUCTS AND SNACKS IS PROJECTED TO DRIVE THE MARKET GROWTH FOR PLANT PROTEIN ISOLATES
           TABLE 45 PLANT-BASED PROTEIN CONCENTRATES MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     10.4 TEXTURED PROTEIN
             10.4.1 INCREASE IN CONSUMPTION OF PLANT-BASED MEAT PRODUCTS IS PROJECTED TO DRIVE THE MARKET GROWTH FOR TEXTURED PROTEIN
           TABLE 46 PLANT-BASED TEXTURED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)

11 PLANT-BASED PROTEIN MARKET, BY REGION (Page No. - 103)
     11.1 INTRODUCTION
           TABLE 47 GLOBAL PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)
           FIGURE 44 JAPAN TO RECORD THE FASTEST GROWTH IN THE PLANT-BASED PROTEIN MARKET DURING THE FORECAST PERIOD
     11.2 COVID-19 IMPACT ON THE PLANT-BASED PROTEIN MARKET, BY REGION (2018–2021)
           TABLE 48 PESSIMISTIC SCENARIO: GLOBAL PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
           TABLE 49 REALISTIC SCENARIO: GLOBAL PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
           TABLE 50 OPTIMISTIC SCENARIO: GLOBAL PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
     11.3 NORTH AMERICA
             11.3.1 AVERAGE PRICE OF PLANT-BASED PROTEIN SOURCES
           TABLE 51 NORTH AMERICA: AVERAGE PRICE, BY PROTEIN SOURCE, 2016–2018 (USD/KG)
             11.3.2 REGULATORY FRAMEWORK
             11.3.3 INTRODUCTION
           FIGURE 45 NORTH AMERICA: REGIONAL SNAPSHOT, 2019
           TABLE 52 NORTH AMERICA: PLANT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 53 NORTH AMERICA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 54 NORTH AMERICA: SOY-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 55 NORTH AMERICA: WHEAT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 56 NORTH AMERICA: PEA-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 57 NORTH AMERICA: OTHER SOURCES MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
             11.3.4 US
                        11.3.4.1 Large manufacturing and processing base to drive the market growth
           TABLE 58 US: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.3.5 CANADA
                        11.3.5.1 Favorable policies and investments to propel strong growth in the Canadian plant-based protein market
           TABLE 59 CANADA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.3.6 MEXICO
                        11.3.6.1 Changing consumer preferences and dependence on imports supplementing the market growth
           TABLE 60 MEXICO: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     11.4 EUROPE
             11.4.1 AVERAGE PRICE OF PLANT-BASED PROTEIN SOURCES
           TABLE 61 EUROPE: AVERAGE PRICE, BY SOURCE, 2016-2018 (USD/KG)
             11.4.2 REGULATORY FRAMEWORK
             11.4.3 INTRODUCTION
           FIGURE 46 TOP TEN COUNTRIES WITH THE LARGEST SHARE OF VEGAN NEW PRODUCT LAUNCHES, 2018
           FIGURE 47 GREENHOUSE GAS EMISSIONS FROM AVERAGE FOOD CONSUMPTION
           TABLE 62 EUROPE: PLANT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 63 EUROPE: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 64 EUROPE: SOY-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 65 EUROPE: WHEAT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 66 EUROPE: PEA-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 67 EUROPE: OTHER SOURCES MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
             11.4.4 FRANCE
                        11.4.4.1 Pea production and processing upgrades driving the French revolution in plant-based proteins
           TABLE 68 FRANCE: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.5 UK
                        11.4.5.1 Growing vegan population and manufacturer base driving the demand for plant-based proteins
           TABLE 69 UK: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.6 GERMANY
                        11.4.6.1 Industrial applications and consumers aid the demand for plant-based alternatives
           TABLE 70 GERMANY: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.7 SPAIN
                        11.4.7.1 Improvements in agricultural infrastructure to support the production of plant-based proteins
           TABLE 71 SPAIN: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.8 NETHERLANDS
                        11.4.8.1 Strong export base and presence of manufacturing units
           TABLE 72 NETHERLANDS: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.9 ITALY
                        11.4.9.1 Changing consumer preferences from conventional to plant-based sources supporting the growth
           TABLE 73 ITALY: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.10 BELGIUM
                        11.4.10.1 Export access and growing processing capacities propelling the growth of the plant-based proteins market
           TABLE 74 BELGIUM: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.4.11 REST OF EUROPE
           TABLE 75 REST OF EUROPE: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     11.5 ASIA PACIFIC
             11.5.1 ASIA PACIFIC: AVERAGE PRICE OF PLANT-BASED PROTEIN SOURCES
           TABLE 76 ASIA PACIFIC: AVERAGE PRICE, BY SOURCE, 2016–2018 (USD/KG)
             11.5.2 REGULATORY FRAMEWORK
             11.5.3 INTRODUCTION
           FIGURE 48 REGIONAL SNAPSHOT: ASIA PACIFIC, 2019
           TABLE 77 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET SIZE, BY COUNTRY/REGION, 2018–2026 (USD MILLION)
           TABLE 78 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 79 ASIA PACIFIC: SOY-BASED PROTEIN MARKET SIZE, BY COUNTRY/REGION, 2018–2026 (USD MILLION)
           TABLE 80 ASIA PACIFIC: WHEAT-BASED PROTEIN MARKET SIZE, BY COUNTRY/REGION, 2018–2026 (USD MILLION)
           TABLE 81 ASIA PACIFIC: PEA-BASED PROTEIN MARKET SIZE, BY COUNTRY/REGION, 2018–2026 (USD MILLION)
           TABLE 82 ASIA PACIFIC: OTHER SOURCES MARKET SIZE, BY COUNTRY/REGION, 2018–2026 (USD MILLION)
             11.5.4 CHINA
                        11.5.4.1 Industrial and consumer base driving the paradigm shift for plant-based proteins
           TABLE 83 CHINA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.5.5 INDIA
                        11.5.5.1 Changing dietary preferences among consumers stimulating the growth of plant-based proteins
           TABLE 84 INDIA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.5.6 JAPAN
                        11.5.6.1 Health concerns and geriatric population to drive the demand for plant-based protein products
           TABLE 85 JAPAN: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.5.7 AUSTRALIA & NEW ZEALAND
                        11.5.7.1 Sustainability concerns and vegan trends driving plant-based protein acceptance
           TABLE 86 AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.5.8 REST OF ASIA PACIFIC
           TABLE 87 REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2026 (USD MILLION)
     11.6 SOUTH AMERICA
             11.6.1 AVERAGE PRICE OF MAJOR PLANT-BASED PROTEIN SOURCES
           TABLE 88 SOUTH AMERICA: AVERAGE PRICE OF PLANT-BASED PROTEIN, BY SOURCE, 2016-2018 (USD/KG)
           TABLE 89 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 90 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 91 SOUTH AMERICA: SOY-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 92 SOUTH AMERICA: WHEAT-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 93 SOUTH AMERICA: PEA-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 94 SOUTH AMERICA: OTHER SOURCES MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
             11.6.2 BRAZIL
                        11.6.2.1 Strong agricultural outputs and exports propelling the growth of the Brazilian plant-based protein market
           TABLE 95 BRAZIL: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.6.3 ARGENTINA
                        11.6.3.1 Imports driven by consumers to influence the Argentinian market growth for plant-based proteins
           TABLE 96 ARGENTINA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.6.4 REST OF SOUTH AMERICA
           TABLE 97 REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
     11.7 REST OF THE WORLD
           TABLE 98 ROW: PLANT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)
           TABLE 99 ROW: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
           TABLE 100 ROW: SOY-BASED PROTEIN MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
           TABLE 101 ROW: WHEAT-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)
           TABLE 102 ROW: PEA-BASED PROTEIN MARKET SIZE, BY REGION, 2018–2026 (USD MILLION)
           TABLE 103 ROW: OTHER SOURCES MARKET SIZE, BY COUNTRY, 2018–2026 (USD MILLION)
             11.7.1 MIDDLE EAST
                        11.7.1.1 Demand for functional foods and nutrition products encourages the dominance for the plant-based proteins market in the region
           TABLE 104 MIDDLE EAST: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)
             11.7.2 AFRICA
                        11.7.2.1 Favorable production conditions and agricultural support to favor the growth of the plant-based protein market
           TABLE 105 AFRICA: PLANT-BASED PROTEIN MARKET SIZE, BY SOURCE, 2018–2026 (USD MILLION)

12 COMPETITIVE LANDSCAPE (Page No. - 147)
     12.1 OVERVIEW
     12.2 MARKET EVALUATION FRAMEWORK
           FIGURE 49 MARKET EVALUATION FRAMEWORK, 2018–2020
     12.3 MARKET SHARE ANALYSIS
           FIGURE 50 MARKET SHARE ANALYSIS OF MAJOR PLANT-BASED PROTEIN PLAYERS, 2019
     12.4 COMPANY EVALUATION QUADRANT, 2019 (KEY PLAYERS)
             12.4.1 STARS
             12.4.2 EMERGING LEADERS
             12.4.3 PERVASIVE PLAYERS
             12.4.4 PARTICIPANTS
           FIGURE 51 PLANT-BASED PROTEIN MARKET: COMPANY EVALUATION QUADRANT, 2019 (KEY PLAYERS)
     12.5 PRODUCT FOOTPRINT
           TABLE 106 PLANT-BASED PROTEIN MARKET: COMPANY SOURCE FOOTPRINT
           TABLE 107 PLANT-BASED PROTEIN MARKET: COMPANY TYPE FOOTPRINT
           TABLE 108 PLANT-BASED PROTEIN MARKET: COMPANY APPLICATION FOOTPRINT
           TABLE 109 PLANT-BASED PROTEIN MARKET: COMPANY REGIONAL FOOTPRINT
     12.6 COMPANY EVALUATION QUADRANT (OTHER PLAYERS)
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 STARTING BLOCKS
             12.6.3 RESPONSIVE COMPANIES
             12.6.4 DYNAMIC COMPANIES
           FIGURE 52 PLANT-BASED PROTEIN MARKET: COMPETITIVE LEADERSHIP MAPPING FOR STARTUP/SME, 2019
     12.7 COMPETITIVE SCENARIO
             12.7.1 EXPANSIONS & INVESTMENTS
           TABLE 110 EXPANSIONS & INVESTMENTS, 2017–2020
             12.7.2 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS
           TABLE 111 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS, 2018–2020
             12.7.3 NEW PRODUCT LAUNCHES
           TABLE 112 NEW PRODUCT LAUNCHES, 2019
             12.7.4 ACQUISITIONS, MERGERS, AND JOINT VENTURES
           TABLE 113 ACQUISITIONS, MERGERS, AND JOINT VENTURES, 2018–2019

13 COMPANY PROFILES (Page No. - 158)
     13.1 OVERVIEW
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)* 
     13.2 KEY COMPANIES
             13.2.1 ARCHER DANIELS MIDLAND (ADM)
           FIGURE 53 ARCHER DANIELS MIDLAND (ADM): COMPANY SNAPSHOT
             13.2.2 CARGILL
           FIGURE 54 CARGILL: COMPANY SNAPSHOT
             13.2.3 DUPONT
           FIGURE 55 DUPONT: COMPANY SNAPSHOT
             13.2.4 WILMAR INTERNATIONAL
           FIGURE 56 WILMAR INTERNATIONAL: COMPANY SNAPSHOT
             13.2.5 ROQUETTE FRÈRES
           FIGURE 57 ROQUETTE FRÈRES: COMPANY SNAPSHOT
             13.2.6 GLANBIA
           FIGURE 58 GLANBIA: COMPANY SNAPSHOT
             13.2.7 KERRY GROUP
           FIGURE 59 KERRY GROUP: COMPANY SNAPSHOT
             13.2.8 DSM
           FIGURE 60 DSM: COMPANY SNAPSHOT
             13.2.9 INGREDION
           FIGURE 61 INGREDION: COMPANY SNAPSHOT
             13.2.10 EMSLAND GROUP
           FIGURE 62 EMSLAND GROUP: COMPANY SNAPSHOT
             13.2.11 PURIS
             13.2.12 COSUCRA GROUPE
             13.2.13 BATORY FOODS
             13.2.14 BURCON NUTRASCIENCE
           FIGURE 63 BURCON NUTRASCIENCE: COMPANY SNAPSHOT
             13.2.15 SOTEXPRO
*Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies. 
     13.3 OTHER PLAYERS
             13.3.1 AGT FOOD & INGREDIENTS
             13.3.2 AXIOM FOODS
             13.3.3 PROLUPIN GMBH
             13.3.4 AMINOLA
             13.3.5 HERBLINK BIOTECH CORPORATION
             13.3.6 BENEO
             13.3.7 ET CHEM
             13.3.8 SHANDONG JIANYUAN GROUP
             13.3.9 THE GREEN LABS LLC
             13.3.10 PARABEL

14 ADJACENT AND RELATED MARKETS (Page No. - 202)
     14.1 PEA PROTEIN MARKET
             14.1.1 MARKET DEFINITION
             14.1.2 MARKET OVERVIEW
           FIGURE 64 PEA PROTEIN MARKET SIZE, 2018–2025 (USD MILLION)
           TABLE 114 PEA PROTEIN MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     14.2 TEXTURED VEGETABLE PROTEIN MARKET
             14.2.1 MARKET DEFINITION
             14.2.2 MARKET OVERVIEW
           FIGURE 65 TEXTURED VEGETABLE PROTEIN MARKET SIZE, 2018–2025 (USD MILLION)
           TABLE 115 TEXTURED VEGETABLE PROTEIN MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     14.3 MILK PROTEIN MARKET
             14.3.1 MARKET DEFINITION
             14.3.2 MARKET OVERVIEW
           FIGURE 66 MILK PROTEIN MARKET SIZE, 2015–2022 (USD MILLION)
           TABLE 116 MILK PROTEIN MARKET SIZE, BY REGION, 2015–2022 (USD MILLION)

15 APPENDIX (Page No. - 207)
     15.1 DISCUSSION GUIDE
     15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL:
     15.3 AVAILABLE CUSTOMIZATIONS
     15.4 RELATED REPORTS
     15.5 AUTHOR DETAILS

 

The study involved four major steps in estimating the size of the plant-based protein market. Exhaustive secondary research was done to collect information on the market as well as the parent market. The next step was to validate these findings, assumptions, and sizing 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, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources such as the United States Department for Agriculture (USDA), Good Food Institute (GFI), and European Vegetable Protein Association (EUVEPRO) were some of the organizations that were referred to identify and collect information for this study. The secondary sources also include clinical studies and journals, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors and regulatory bodies, trade directories, and paid databases.

Secondary research was conducted mainly to obtain key information about the industry’s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom-most level, and geographical markets. It was also used to obtain information about the key developments from a market-oriented perspective.

Primary Research

The overall plant-based protein market comprises several stakeholders in the supply chain, which include suppliers, manufacturers, importers, traders, distributors, and exporters. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders; executives; vice presidents; and CEOs in food & beverages, feed, and dietary supplements industry. The primary sources from the supply side include research institutions involved in R&D, key opinion leaders, and plant-based protein suppliers, and manufacturers.

Given below is the breakdown of the primary respondents.

Plant-based Protein Market Size, and Share

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 include the following:

  • The key players were identified through extensive primary and secondary research.
  • The value chain and market size of the plant-based protein market, in terms of value and volume, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research included the study of reports, reviews, newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.

Data Triangulation

After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points matches, the data is assumed to be correct.

Report Objectives

  • To describe and forecast the plant-based protein market, in terms of type, source, application, form, and region
  • To describe and forecast the plant-based protein market, in terms of value, by region–North America, Europe, Asia Pacific, South America, and the Rest of the World—along with their respective countries
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the plant-based protein market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the plant-based protein market
  • To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
  • To analyze strategic approaches, such as expansions & investments, product launches & approvals, mergers & acquisitions, and agreements, in the plant-based pr

Available Customizations

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

Product Analysis

  • Product Matrix; which gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the Rest of European market into Russia, Hungary, and Denmark
  • Further breakdown of the Rest of Asia Pacific market into the Philippines, Malaysia, Singapore, Indonesia, Thailand, Vietnam, and South Korea

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Plant-based Protein Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Plant-based Protein Market

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