(Food-Beverage-News.Com, November 19, 2020 ) The global plant-based protein market size is projected to grow from USD 10.3 billion in 2020 to USD 14.5 billion by 2025, recording a compound annual growth rate (CAGR) of 7.1%, in terms of value during the forecast period. Plant protein refers to the derivation of protein from plant-based sources such as pulses and grains. Different sources of plant-based protein include soy, wheat, pea, canola, rice, potato, and oats. Proteins are polymers of amino acids, which are used in various applications for their nutritional and functional properties. Their potential to increase the nutritional level and the resultant healthy diet makes them one of the key ingredients in both food and feed industries.
Key plant-based protein market players 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 Greenlans LLC (US), and Parabel (US). Product launches, expansions & investments, mergers & acquisitions, and agreements, joint ventures, and partnerships were the dominant strategies adopted by major players. These strategies have helped them to increase their presence in different regions.
Archer Daniels Midland Company (ADM) is a food manufacturing company that is primarily engaged in the agricultural processing and manufacturing of food ingredients. The company operates through four major segments, namely food & beverages, animal nutrition, industrials, and fuels. It offers its plant protein products under the food & beverage segment, which are used mainly in food applications such as bakery, snacks, confectionery, and cooking. The company is engaged in enhancing its market presence in the global plant-based protein market through expansions. For instance, in January 2019, ADM (US) expanded its presence in Brazil with the construction of soy protein production complex at a value of USD 250 million.
Cargill is involved in the production of food, agriculture, financial, and industrial products. The company operates through 11 major segments, namely, agriculture, animal nutrition, beauty, bioindustrial, food & beverage, foodservice, industrial, pharmaceutical, meat & poultry, transportation, and risk management. It offers its plant protein products under its food & beverages segment, which are used in various food applications such as bakery, snacks, confectionery, and cooking. The company is engaged in enhancing its market presence in the global plant-based protein market through agreements. For instance, in January 2018, Cargill (US) entered into an agreement with pea protein producer, Puris (US), for the supply of peas for Cargils line of organic pea products.