[FURL=https://www.industryarc.com/Research/Plant-Protein-Market-Research-507370]Plant Protein Market[/FURL] size is estimated to be $9.2 billion in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025. Plant protein is a food source of proteins which is from plants. This group includes pulses, tofu, soy, tempeh, seitan, nuts, seeds, certain grains and even pulses. Growing population along with the increasing prevalence of diabetes, chronic disease and other cardiovascular diseases and the preference of vegetarian foods among consumers is a significant factor driving the plant protein market in the upcoming years. Moreover, the shift of consumers towards vegetarian food owing to its several health benefits is propelled to increase the utilization and demand of the product. Apart, from this, the use of plant protein in beverages, Animal feed, infant food and dietary supplement is also fueling the market growth. Product launches, development, collaboration is some of the key factors contributing to market growth.Key Takeaways
The soy protein accounted for the largest market share in 2019 owing to its several health benefits.
Food and Beverages segment held the largest market share in the year 2019 owing to the wide usage of plant protein in beverages as well as in food products.
North America contributed to the largest market share of 41% owing to the presence of large dominant players in the region including Cargill and Archer Daniels Midland Company.
Increasing awareness among consumers regarding nutritional benefits of plant protein is a significant factor driving the plant protein market during the forecast period 2020-2025.
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Plant Protein Market Segment Analysis - Geography
North America contributed to the largest market share of 41% owing to the presence of large dominant players in the region including Cargill and Archer Daniels Midland Company. Increasing demand of Plant-Based Food among consumers owing to its health benefits have highly supported its regional demand. Besides, this developments by key players is another factor triggering its market growth. For instance, in April 2016 Archer Daniel Midland Company launched soya ingredients that can be used to boost protein and fibre content in meat products.
Plant Protein Market Drivers
Increasing Awareness Among Consumer Regarding Nutritional Benefits of Plant Protein
Cost-Effectiveness
Plant Protein Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Plant Protein Market. Plant Protein Market top 10 companies are Archer Daniel Midland Company, DuPont, Kerry Inc., Royal Avebe UA, Cargill, Glanbia, Puris, Emsland Group, Roquette and Batory Foods.
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