Plant Protein Market Summary
Plant protein refers to protein extracted from soybeans, wheat, rice, peas and other plants. Proteins are an important building block of human cells and are composed of monomers called amino acids. Plant protein is an alternative to animal protein and can be easily absorbed. Protein is important to the human body. Most people need about 0.8 grams of protein per kilogram of body weight, and a 160-pound adult needs about 58 grams of protein per day.
According to the new market research report "Global Plant Protein Market Report 2023-2029", published by QYResearch, the global Plant Protein market size is projected to grow from USD 7.58 billion in 2023 to USD 12390 million by 2029, at a CAGR of 8.5% during the forecast period.
- Global Plant Protein MarketSize(US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Plant Protein Market Report 2023-2029.
Market Drivers:
Health Trends: More and more people are choosing plant-based proteins because they are generally healthier than animal proteins, rich in fiber, vitamins, minerals and antioxidants, while being low in fat and cholesterol.
Vegan and Vegan Trend: The rising number of vegetarians and vegans, who seek plant-based proteins as their primary source of protein, is driving the market demand.
Environmental factors: People are paying more and more attention to environmental issues. Plant protein production usually has less impact on the environment and is therefore in line with the concept of sustainable development.
Ethical factors: Ethical and animal welfare considerations also drive demand for plant-based proteins, as many people are reluctant to support the animal production industry.
Technological innovation: The continuous development of new technologies and production methods has improved the quality and palatability of plant proteins, attracting more consumers.
Population growth and urbanization: The global population is growing, especially in urban areas, which means more people need to find sustainable sources of protein, and plant-based proteins are meeting this need.
Restraint:
Price issues: Plant-based protein products are often more expensive than traditional animal proteins, which may limit choice for some consumers.
Taste and habit issues: Some consumers may be dissatisfied with the taste and flavor of plant protein products and are accustomed to the taste of animal protein.
Supply chain challenges: The production and distribution of plant proteins face several supply chain challenges, including issues with raw material supply, production facilities, etc.
Opportunity:
Product innovation: Continuously innovate plant protein products to improve taste, flavor and diversity to attract more consumers.
Market expansion: Expand the market for plant protein, including food, beverages, health products and other fields to meet the needs of different types of consumers.
Partnerships: Establish partnerships with agricultural producers, food manufacturers and retailers to strengthen supply chains and market penetration.
Health certification: By obtaining health certification, you can prove the quality and health value of plant protein products and attract more consumers.
- Global Plant Protein Top24Players Ranking and Market Share（Continually updated）
Based on or includes research from QYResearch: Global Plant Protein Market Report 2023-2029.
This report profiles key players of Plant Protein such as ADM、Cargill、CHS、DuPont
In 2022, the global top five Plant Protein players account for 50% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Plant Protein.
- Plant Protein,Global Market Size, Split by Region
Based on or includes research from QYResearch: Global Plant Protein Market Report 2023-2029.
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