(Food-Beverage-News.Com, September 19, 2017 ) The global plant-based protein market is recorded to be USD 8345.34 million in 2016 and expected to reach USD 14220.5 million by 2022 at a CAGR of 5.9% during the forecasted period from 2017-2022. Increasing demand for nutritional contents and inclination towards non-meat diet have paved a way for the growth of plant protein ingredients. Plant-based proteins derived from sources such as soy, wheat, and other vegetables being an integral part of food & beverage industry are providing intense competition to animal proteins. Increase in population, growing demand for protein products and the attractive amino acid profile of plant proteins have increased the demand of plant protein ingredients in the market.
Market Segmentation: Global plant protein market segmentation by an application in food industry includes sports and energy drink, meat analogues, beverages, bakery and confectionery and ready to eat products. Plant ingredient in Sports nutrition contributes to the major share in the market in application types. Based on the source of plant protein market is segmented into wheat protein, soy protein, pea protein and other cereal protein. Soy protein dominates the plant protein ingredient segment followed by pea protein and wheat protein. Due to a high nutritional value of soy protein which has shown a positive effect on lowering the cholesterol level and fighting with heart disease it has been primarily used in energy drinks and dietary supplements products. Pea protein ingredient being a non-GMO protein source with high nutritional facts giving a healthy competition to soy protein in the market with respect to the countries regulatory environment and GMO image problems among consumers.
Regional Analysis: In the regional analysis of plant protein market North America is leading the global market followed by Europe and Asia Pacific. Asia Pacific is expected to show the highest CAGR during the forecast period.
Competitive Landscape: The key players in the markets are Archer Daniel Midland Company (U.S), Kerry Group (Ireland), and Cargill Incorporated (U.S), E.I. Du Pont de Company (U.S) and Omega Protein Corporation (U.S) among others.
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