Plant Protein Ingredients Market size for food application exceeded USD 5.5 billion in 2019 and the annual consumption is expected to surpass 2.5 million tons by 2025. Growing adoption of veganism owing to increasing animal welfare concerns supported by rising awareness about environmental concerns regarding animal edibles production should drive market growth.
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COVID 19 outbreak had a significant impact on the plant protein ingredients market for food application owing to the rising concerns associated with the consumption of traditional meat or animal protein sourced food as COVID 19 is considered to be of animal origin. This factor has raised the demand for vegan food products and is anticipated to drive the soy-based protein ingredients industry. Protein intake helps to repair the wear and tear of the body and also helps to recover from post COVID weakness by boosting the immune system these factors are expected to fuel the market demand. However, disruption in raw materials supply has impacted the sales of food products. Trade restrictions in countries have further impacted the import and export of raw materials. Moreover, decreasing per capita income due to mass layoff is expected to decrease the demand of plant-based products in developing countries as plant-based products are very expensive compared to traditional meat-based products. This factor will have an impact on the market for a short span of time.
|Market Size in 2018:||5.5 Billion (USD)|
|Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||7.4%|
|2025 Value Projection:||8 Billion (USD)|
|Historical Data for:||2014 to 2018|
|No. of Pages:||250|
|Tables, Charts & Figures:||390|
|Segments covered:||Product Product, Application and Region|
|Pitfalls & Challenges:|
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Growth in product innovation in vegan food products mainly in UK and Germany will have positive impact on product demand. UK new product launches claiming vegan, or no animal content accounted for 16% in 2018. Availability of innovative products with plant ingredients as a potential alternative to animal-based products to meet nutritional demands will favour plant-based protein demand.
Supporting regulatory approvals from FDA regarding soy protein health claims along with use of pea protein in functional food & beverages may fuel the product demand. These guidelines will increase plant protein incorporation in functional foods to increase the overall protein content and imparts therapeutic characters which should have positively influence the industry demand.
Rising raw material cost concerns for commercial protein production owing to high dependence on weather conditions for crop yield leading to supply deficit may challenge industry profitability, thus affecting plant proteins market for food application price trends. However, growing vegetable proteins demand as meat substitutes owing to increasing meat prices and increasing risk of emerging livestock disease will favour plant proteins demand.
Pea based plant protein ingredients market for food application is set to exceed USD 185 million by 2025. Increasing product adoption in functional foods, bakery, sports supplements, meat substitutes and nutraceuticals due to its beneficial attributes including regulating sugar, helps in weight loss, high protein content which offers energy during workout will supporting the segmental demand. It also helps in relieving muscle breakdown after workout along with hypoallergic properties which is beneficial for athletes allergic to other nutrients, thus propelling product demand.
Soy based plant protein ingredients industry is expected to register over 6.5% CAGR through 2025. Soy protein ingredients contains less than 1% fat supported by high protein content which may replace dairy protein and plays a vital role in replacing dairy proteins mainly for individuals having milk allergies which will fuel product demand mainly in infant nutrition, thus driving industry landscape.
Functional food & beverage application segment is projected to surpass USD 2 billion up to 2025. Consumer inclination towards maintaining daily health routines has led to rise in demand for functional edibles to combat prevailing lifestyle disease such as heart issues, obesity and metabolic disorders will favour industry expansion. Technological advancements in processing technology makes it possible to balance good sensory attributes and clean after taste in beverages proteins concentrates and isolates which may fuel product demand.
Bakery application segment of plant protein ingredients market is set to witness over 5% CAGR through 2025, supported by rising popularity of pea protein in bakery products as it helps in maintaining cholesterol levels and triglycerides along with healthy blood pressure. Growing demand for gluten free bakery items for weight and health management will have positive impact on product demand in this application.
European region driven by UK, France and Germany plant protein ingredient market for food application may register over 6% CAGR through 2025. Supporting regulatory standards by EFSA reading daily protein intakes will boost regional product demand. Growing vegan inhabitants supported by presence of major manufacturers engaged in novel product development will have positive impact on regional product landscape.
Asia Pacific led by India, Japan and China plant food protein ingredients industry is anticipated to surpass USD 1.5 billion by 2025. Easy accessibility towards raw material owing to presence of agroeconomies along with dominance of vegetarian population will propel regional industry outlook.
Competitive Market Share
Global plant protein ingredients market for food application is moderately fragmented and competitive. Key industry participants operating in market includes Cargill, Axiom Food, Rouquette, Kerry, sonic Biochem, Prinova Group. Manufacturers are focusing on strategic alliance and product innovations to cater escalating demand in various application as an alternative to animal-based products, thus propelling industry growth.
Plant proteins are derived from seeds, legumes, grains, beans, soy, and hemp. These functions as an alternative to animal-based proteins in vegan diets. The product is rich in phytonutrients and antioxidants. Plant based proteins contains fibre which help to achieve balanced digestive system. Growing health awareness has led to rise in demand for nutritious and fortified food for healthy dietary routine which may propel industry statistics.
Plant Protein Ingredients market for food application market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2014 to 2025, for the following segments:
- Pea protein
- Pea protein concentrates
- Pea protein isolates
- Textured pea protein
- Soy protein
- Soy protein concentrate
- Soy protein isolates
- Textured soy protein
- Wheat protein
- Rice protein
- Rice protein concentrates
- Rice protein isolates
- Textured rice protein
• Sports & nutrition
• Clinical nutrition
• Infant nutrition
• Functional food & beverages
• Fortified food & beverages
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Saudi Arabia
- South Africa
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