Global Plant-Based Protein Market Overview:
Plant protein is simply a meaningful food source of protein which is from plants. Plant proteins are experiencing their time in the limelight, with manufacturers launching plant-based completely protein products in retail and foodservice chains launching plant-protein menu innovations. Of late, growth in the demand for additional nutritional supplements is increasing consistently as customers seek sources to enable the body to gain proper nourishment. This, in turn, an increase in spending on these products significantly drives the growth of the global plant-based proteins market globally. According to AMA, the Global Plant-Based Protein market is expected to see growth rate of 12.7% and may see market size of USD36.68 Million by 2024.
- Growing Popularity of Plant-Based Products in Developed Nations
- Growing Cases Number of Lactose Intolerance and Milk Allergies
- Huge Investments in Plant-Based Food Businesses by Market Players
- Increase in Trend of Health and Sustainability Globally
- Social Media Trends to Sway More Consumers Toward Plant-Based Proteins
- Allergies Associated With Plant-Based Protein Sources Includes Soy and Wheat
- High Cost of Plant-Based Protein
- Constant Rise in Demand for Food With Organic Ingredients
- Increasing Number of Health Conscious People across the World
- Growing Consumers’ Focus on Meat Alternatives
- Increase in Production of and Adulteration With Genetically Modified (GM) Soybean
- Unpleasant Flavor of Soy Products
Some of the key players profiled in the report are Cargill (United States), Archer Daniels Midland Company (United States), DowDuPont (United States), Glanbia Plc (Ireland), Kerry Group (Ireland), Tate & Lyle PLC (United Kingdom), Ingredion Incorporated (United States), Burcon NutraScience Corporation (Canada), Koninklijke DSM N.V. (Netherlands), Sotexpro S.A. (France), Axiom Foods (United States), The Scoular Company (United States), Victoria Group (Serbia), Halcyon Proteins Pty. Ltd. (Australia) and Roquette Frères (France). Additionally, following companies can also be profiled that are part of our coverage like PlantFusion (United States), Bühler Group (Switzerland), Koyo Mercantile Co., Ltd. (Japan), Innova Flavors (A Division of Griffith Foods Inc.) (United States) and Garden of Life (A Atrium Innovations Company) (United States). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Plant-Based Protein market by 2024. Considering Market by Source Type, the sub-segment i.e. Soy will boost the Plant-Based Protein market. Considering Market by Sales Channel, the sub-segment i.e. Hypermarket/Supermarket will boost the Plant-Based Protein market. Considering Market by Form Type, the sub-segment i.e. Isolates Protein will boost the Plant-Based Protein market.
The production and sourcing of plant proteins for the agro-food sector has repeatedly stimulated political debate at EU level. This Report is intended to meet the Commission’s commitment taken during the adoption process for Regulation (EU) 2017/2393, to review the supply and demand situation for plant proteins in the EU and to explore possibilities to further develop their production in an economically and environmentally sound way. In addition, the European Parliament adopted a report in April 2018 calling for a European strategy to promote European protein crops.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Plant-Based Protein market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Plant-Based Protein market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Plant-Based Protein Manufacturers, Plant-Based Protein Traders, Government and Research Organizations, R&D Institutions, End-Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.