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Plant Protein Ingredients Market is expected to grow by USD 10.33 Billion during 2024-2032, accelerating at a CAGR of 6.22% | Introspective Market Research

Plant Protein Ingredients Market is expected to grow by USD 10.33 Billion during 2024-2032, accelerating at a CAGR of 6.22% | Introspective Market Research
Plant protein components are plant-based protein sources such as hemp, peas, soybeans, and lentils. These components are used as a healthy and sustainable alternative to animal-based proteins in a variety of food and beverage products. Ingredients derived from plant proteins are widely used in plant-based meat substitutes, dairy substitutes, protein bars, snacks, and baked goods in the food and beverage sector.

Plant Protein Ingredients market size was valued at $ 6 billion in 2023, and is projected to reach $10.33 billion by 2032, registering a CAGR of 6.22 % from 2024 to 2032.

Plant protein components are plant-based protein sources such as hemp, peas, soybeans, and lentils. These components are used as a healthy and sustainable alternative to animal-based proteins in a variety of food and beverage products. Ingredients derived from plant proteins are widely used in plant-based meat substitutes, dairy substitutes, protein bars, snacks, and baked goods in the food and beverage sector. Because of their versatility, producers can create a wide range of goods that satisfy a variety of nutritional requirements, such as flexitarian, vegetarian, and vegan diets.  

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Plant Protein Ingredients Market Top Key Players:

DuPont (US),ADM - Archer Daniels Midland Company (US),The Scoular Company (US),CHS, Inc. (US),Mead Johnson & Company, LLC (US),Bunge Limited (US),Cargill, Incorporated (US),MGP (US),Ingredion (US),Axiom Foods (US),Puris (US),Prinova Group LLC (US),Burcon (Canada),Nutri-Pea (Canada),CropEnergies AG (Germany),DSM (Netherlands),Louis Dreyfus Company (Netherlands),Barentz (Netherlands),Roquette Freres (France),Tate & Lyle (UK),Tessenderlo Group (Belgium),Kerry Inc. (Ireland)

The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Assnalysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

The Plant Protein Ingredients Market is segmented into Type, Form, Application, and region. By Type, the market is categorized into Pea Protein, Potato Protein, Soy Protein, Rice Protein, Hemp Protein and Wheat Protein. By Form, the market is categorized into Isolates and Concentrates. By Application, the market is categorized into Clinical Nutrition, Functional Food & Beverages, Infant Nutrition, Fortified Food & Beverages, Sports & Nutrition and Bakery. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).  

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Global Plant Protein Ingredients Market, Segmentation

The Plant Protein Ingredients market is segmented on the basis of Type, Form and Application, and region.

Type:

The type segment is further classified into Pea Protein, Potato Protein, Soy Protein, Rice Protein, Hemp Protein, Wheat Protein. Among these, the Pea Protein sub-segment accounted for the highest market share in 2023.

By Type

  • Pea Protein
  • Potato Protein
  • Soy Protein
  • Rice Protein
  • Hemp Protein
  • Wheat Protein

By Form

  • Isolates
  • Concentrates

By Application

  • Clinical Nutrition
  • Functional Food & Beverages
  • Infant Nutrition
  • Fortified Food & Beverages
  • Sports & Nutrition
  • Bakery

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Application:

The application segment is further classified into Clinical Nutrition, Functional Food & Beverages, Infant Nutrition, Fortified Food & Beverages, Sports & Nutrition, Bakery. Among these, the Sports & Nutrition sub-segment is anticipated to show the fastest growth by 2032.

Key Industry Developments

  • In February 2024, Cargill and food tech leader ENOUGH, known for producing fermented protein sustainably, expanded their partnership to further innovate nutritious and sustainable alternative meat and dairy solutions that consumers crave.
  • In December 2023, ADM, a global leader in human and animal nutrition, announced that it had reached an agreement to acquire UK-based FDL, a leading developer and producer of premium flavor and functional ingredient systems. FDL, with projected 2023 sales of approximately $120 million, including about 40 dedicated innovation specialists, had created more than 10,000 proprietary flavor formulations, enabling accelerated speed to market.

Region:

The Plant Protein Ingredients market in Asia-Pacific is projected to show the fastest growth by 2032. For several strong reasons, Asia Pacific is positioned to lead the market. The region's demand for food and beverages, among other consumer items, is fueled by factors like as its quickly growing population, growing urbanization, and rising disposable incomes.

By Region 

  • North America (U.S., Canada, Mexico) 
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe) 
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe) 
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC) 
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa) 
  • South America (Brazil, Argentina, Rest of SA) 

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.

Key Findings of the Study / Key Industry Developments. 

  • The Asia Pacific region's rapidly growing population is driving increased demand for food and beverages.
  • Accelerating urbanization in the region is contributing to higher consumption of consumer goods.

There is a significant market opportunity for producers and suppliers of food ingredients, particularly plant protein ingredients.

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About us:

Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.

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