Plant Derived Protein Trends and Forecast
The future of the global plant derived protein market looks promising with opportunities in the food and feed applications. The global plant derived protein market is expected to reach an estimated $20.0 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are the significant adoption of veganism and health concerns such as cardiovascular diseases, increasing demand for vegan and vegetarian diets, and high availability of plant-based protein products.
Lucintel forecasts that organic is expected to witness the highest growth over the forecast period due to demand for clean-label food and transparency.
Within this market, feed is expected to witness the highest growth over the forecast period.
APAC is expected to witness the highest growth over the forecast period due to the growing populationÄX%$%Xs dietary preferences towards plant-based foods and proteins in the region.
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Emerging Trends in the Plant Derived Protein Market
Market for plant derived proteins is growing systematically thanks to change in dietary habits of consumers, development of technology and rise in concerns over sustainability. The plant derived protein industry is adapting into five major trends. This summary presents the trends and their effects on the growth and development of the market.
• Focus on New Protein Ingredients: It is witnessed that flours other than extensive soybean and wheat flour usage are gaining popularity. This is because the consumers have different protein requirements and thus there are efforts to create proteins that come from novel sources like protein from peas, lentils, chickpeas, and even algae. This also lets the consumers satisfy their demand for variety of the protein sources without fearing about the diet allergy or environmental impacts of plant based protein benefits.
• Development in Technology of Protein Recovery: Technological improvement on protein extraction is enabling increased yield and improved quality of plant proteins. Modifications like precision fermentation and enzymatic techniques are also enhancing plant protein in terms of mouth feel, flavor and nutrition. It is important to note that these are the reasons why consumers will accept plant proteins occupationally and the market for plant proteins will enlarge.
• Growing Demand for Clean Label Products: In this era with so much health awareness, most consumers have begun to promote clean label products, which are only minimally processed and free from unnatural ingredients. This trend is also creating a ripple effect in the plant-derived protein market as companies are now making proteins that comply with the clean label requirements. This change is leading to new ideas to be drawn on how the processing of the rollouts and the raw materials are obtained to ensure that the plant proteins will meet the consumer market wants of natural healthy products.
• Expansion of Plant-Based Protein into New Categories: The scope of application of plant proteins is being enhanced to informational products such as snacks and beverages as well as animal feeds like pet foods. This trend indicates the growing acknowledgment of and need for plant-based proteins in great variety among users. As companies increase efforts to penetrate into new markets, it is providing the companies with new lines of revenue, and enlarging the total market because plant-based alternatives are being adopted in a broader sphere of consumer use.
• Sustainability as a Market Influencing Factor: In the market for plant-derived proteins, concerns about sustainability are of fundamental importance, as they affect consumers and even companies themselves. Businesses are more and more turning to the sustainable sourcing and production methods due to the defined green audience. This sustainability orientation is not only a way to satisfy the customer, but also a response to the worldwide efforts in reducing the carbon footprint, which will in turn promote growth in the market.
These new trends are changing the dynamics in plant derived protein market growth, fueling innovations, product development, and placing the sector in consonance with the wider market and environmental needs. As these trends show no signs of receding, they will increase growth rates and market share of plant derived proteins around the world.
Recent Developments in the Plant Derived Protein Market
The market and the structure of plant protein raw materials are in a state of tides. This change is triggered by innovations, the movement of the consumers as well as changes in tactics of players in the industry. Such changes are creating the environment within which various levels of growth and diversification of the market could occur. Over the next five paragraphs, a summary presents five challenges that came across in the plant derivative protein industry in the future.
• Strategic Partnerships and Acquisitions Corporation: There has been an increasing trend of strategic partnerships and acquisitions of businesses in the plant-based protein industry, as companies expand their product offerings and their presence in the marketplace. Large players in the food industry combine with or purchase disruptive companies in order to access new technologies and offerings. This trend is also accelerating the development and scaling of new protein products based on the emerging sources thereby promoting market growth.
• Investment in Research and Development Science: Research on plant-based protein has seen enormous financing toward research and development, enhancing the plants protein market. The companies are working to enhance the flavors, mouth-feel, and nutrition of the plant proteins to increase their use in foods. These R&D initiatives are also providing materials for the introduction of new proteins, thus opening more markets and catering for many consumer wants.
• Buildup of Production Infrastructure: In order to cater for rising demand from consumers, the companies that produce plant protein products at present are investing and increasing their production capabilities. This encompasses the building of new production plants as well as the increase of currently existing production capacity. The higher production capacity is allowing the companies to provide the market with more varieties of plant protein thus able to support the market growing.
• Government Policies and Initiatives: Governments are also active in the development of the market for plant-derived protein with legislative initiatives. Government policies geared towards sustainable agricultural practices and the production of the plant protein are fueling industry growth. Furthermore, government investment in research and developing of plant based food products has also proved useful in increasing innovation and further expanding the market.
• Consumer Education and Awareness Campaigns: Consumer education and awareness campaigns are important in getting the consumers to accept the use of plant derived proteins. Both companies and industry organizations are engaging in campaigns that promote the consumption of plant based diets because of their health and environmental advantages. Such activities are important in changing perceptions and increasing the uptake of the plant protein products, hence growing the market.
These new developments overthrow traditional methods by promoting different aspects of plant-derived protein market, enhancing its productivity and consumer inclusion. As such trends continue, they are likely to enhance the growth of the market while revealing potential factors for its further diversification.
Strategic Growth Opportunities for Plant Derived Protein Market
The plant-derived protein market presents limitless growth especially in the applications where there is a lot of consumer demand and tech advancements. This summary pinpoints five participant-specific strategic growth possibilities within the industry. The range of influence that these opportunities present and the emerging potential of the market are discussed below.
• Plant-Based Meat Alternatives: The plant-based meat alternative segment of the plant-derived protein market presents one of the largest growth opportunities. As the focus of consumers shifts to healthier and more environmental friendly meat proteins, companies are coming up with meat substitutes that are actually healthier alternatives. Such an opportunity is making a lot of investors and R&D attention resulting to new innovations and products being introduced to satisfy the increasing demand for plant based nutrition.
• Protein-Enriched Snacks and Beverages: Consumers in particular are more and more looking for protein enriched consuming products most especially snacks and beverages. This trend is presenting growth opportunities for plant-derived proteins owing to the increased level of adoption. More people are looking for healthy food options that are also easy to eat due to lack of time. This trend is also informing the introduction of snack bar, shake and other protein enriched food products adding more options to companies in the quest for healthy consumers.
• Nutraceuticals and Functional Foods: Plant derived proteins are one of the best opportunities in the growing market of nutraceuticals and functional foods. Such products (dietary supplements, and fortified or functional foods) are increasingly more consumed because of the consumers’ concern for health and wellness. The incorporation of plant proteins in a variety of functional foods furnishes health that goes beyond nutritional value attributing to growth in this market segment.
• Dairy Alternatives: Dairy substitutes like plant-based milk, cheese, and yogurt, are a significant growth area in the plant-proteins market. With the increasing interest of buyers towards lactose-free or vegan consumers, market provides a good momentum for dairy alternatives with high quality, protein contents. These providers are answering by creating new plant based products, broadening the scope of their business and increasing market share.
• Sports Nutrition: The segment of sports nutrition is also considered to hold prospects for plant-derived proteins. World players and fans are increasingly using plant based protein powders and supplements during their training and recovery periods. This particular consumer trend is providing opportunities for the development of plants based protein products targeting particular segment of consumers and hence presenting companies with an opportunity for exceptional growth.
These growth option strategies in the different application segments are contributing to the development of the plant-based protein market. Further expansion in the market is possible as the companies continue to create new ideas and meet the changing needs of the customers with considerable growth opportunities for market diversification and penetration.
Plant Derived Protein Market Driver and Challenges
There are many factors that affect the plant derived protein market including technology, economy, and regulations. In order to succeed in this rapidly changing market, one needs to grasp the underlying drivers and challenges. This assessment puts forth five key drivers and three accompanying key challenges toward the market’s growth and development.
The factors responsible for driving the plant derived protein market include:
1. Rising Consumer Demand for Plant-Based Diets: Plant derived protein market is buoyed up by consumer demand for plant-based diets. More and more people are foregoing animal protein due to the increased awareness of plant-based diets, its health benefits, the ecological conservation, and its ethical reasons. This trend is resulting in an increased plant derived protein products demand in different categories hence creating market growth and innovations.
2. Enhancement of Technological Features for Better Protein Processing: Protein processing technologies have progressed so much so that one can now have high-quality plant derived protein which is better tasting, improving the texture and enhancing the nutritional profile. Emerging technologies like extrusion and precision fermentation are helping plant proteins overtake animal proteins. Such technological improvements are significant in fulfilling the expectations of the consumers and increasing the market.
3. Changing Consumer Attitudes and Purchasing Behavior Toward the Use of Non Animal Components: A sustainability factor is becoming one of the drivers of the emerging market of plant-derived protein. With rising awareness of the environmentally detrimental effects of animal agriculture, both consumers and corporations look for ways to tap into plant proteins instead. This orientation towards sustainability is contributing to the growth of the market because it is affecting the decision on what to buy and making companies implement green initiatives.
4. Government Support and Policy Legislation: Government backing and suitable policies are bringing about the advancement of the plant-based protein industry. The prudent policies which have been designed to promote sustainable agricultural practices, investment in research as well as encouraging the production of plant-based foods are also fostering this hard industry. Such efforts are, therefore, intended to stimulate creativity and increase the supply of plant-based proteins.
5. Entry into New Markets: The entry into new markets ranks high on the list of increasing the plant based protein market scope. New products based on plant sources of protein are produced continuously in accordance to the changing demands of various consumers. This encompasses cutting edge technologies in plant based meat, and dairy, snack and beverage which boosts the market and reaches more consumers.
Challenges in the plant derived protein market are:
1. Very High Production Costs: High production costs have been a major hindrance in the development of the plant based proteins market. The costs related to sourcing for the raw materials and of finishing the products as well as of R & D are too high for most especially new and small companies. These prices on the whole economic boom are normally transferred to the consumers thus the plant based protein products are more pricey than the animal ones and reduce the market uptake.
2. Consumer Perception and Acceptance: Consumer perception and acceptance continues to be an impediment in the plant protein derived foods market. Although the awareness for plant protein diets is increasing, a section of consumers remains doubtful about the flavor, consistency, or nutrition value of proteins obtained from plants. Changing the minds of people on these perceptions is not an easy task and needs quite a lot of innovations and marketing strategies.
3. Supply Chain Constraints: Supply chain constraints such as resource availability and processing facilities, remain a concern in the plant-derived protein market. Supply chain disruptions may result in product shortages and increased prices which jeopardizes the demand. This requires enhanced supply chain infrastructure and preparation strategy to ease the challenges faced.
The plant-derived protein market is under shaping of a number of both drivers and challenges, with each having its share of impact to the evolution of the market. The drivers such as consumer appetite and technological developments continue to support market growth, however the challenges such as high cost of production and supply chain constraints still have to overcome in order to maintain growth and extend the market.
List of Plant Derived Protein Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plant derived protein companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plant derived protein companies profiled in this report include-
• ADM
• Cargill
• DuPont
• Wilmar
• Roquette Frères
• Glanbia
• Kerry
• DSM
• Ingredion
• Emsland
Plant Derived Protein by Segment
The study includes a forecast for the global plant derived protein by type, source, nature, application, and region.
Plant Derived Protein Market by Type [Analysis by Value from 2018 to 2030]:
• Isolates
• Concentrates
• Textured
Plant Derived Protein Market by Source [Analysis by Value from 2018 to 2030]:
• Soy
• Wheat
• Pea
Plant Derived Protein Market by Nature [Analysis by Value from 2018 to 2030]:
• Conventional
• Organic
Plant Derived Protein Market by Application [Analysis by Value from 2018 to 2030]:
• Food
• Feed
Plant Derived Protein Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Plant Derived Protein Market
Within the market for protein obtained from plants, there is an upward trend, as consumers embrace animal protein alternatives that are healthy and respect the environment. Primary markets such as the United States, South Africa, China, Germany, India, and Japan are able to rapidly advance in production developments, regulatory developments, and the behavioral patterns of consumers. Such a summary answers the question in these key regions in a country factor-wise recent advances , which of the recently emerged factors determine the growth of particular markets.
• United States: In the U.S., factors such as increased education of the customers regarding the benefits of a plant-based diet and the rapid development of the big food businesses are contributing to the growth in the consumption of plant derived proteins. Recent developments are the collaboration of food technology starter companies with business giants to come up with new meat substitute products. The market is also witnessing positive dynamics in terms of raw materials for protein production due to governmental incentives for sustainable farming practices.
• China: While in China, the plant-based protein market is growing rapidly due to the government’s efforts to encourage people to eat more plants for better health and cause less damage to the environment. Recent reports highlight the building of n plant protein production companies and launching of new products that have been made with the local antioxidants. More and more Chinese consumers are looking for such products and therefore the market is broadening with more varieties being introduced with time.
• Germany: Germany’s plant-derived protein market has the major of consumers who are currently more focused on sustainable food as well as effective innovation regulations. Among the current trends is the emergence of new companies and start up’s which are also producing new plant proteins. Moreover, government policies encouraging environmental friendly farming are increasing production of plant proteins, making Germany a more competitive player in the European market.
• India: In India, rapid growth is also expected in the plant derived protein market owing to increasing health awareness and preferences towards vegetarian food. Among the current trends is the boost of international plant protein brands to the Indian market and the launching of indigenous plant protein products. The availability of feedstock for plant protein production is also increasing owing to government actions in agriculture such as subsidies on pulse cultivation.
• Japan: Due to increasing awareness of the health and environment friendly aspects of plant based diets and more and more consumers embracing the plant based diet, the Japan plant derived protein market is witnessing an increase in size. In current trends for example, new plant protein products have been developed to fit in with the local diets. The Japanese food manufacturers are also engaging in development so as to enhance the taste and mouth feel of plant proteins so as to reach out to more consumers.
Features of the Global Plant Derived Protein Market
Market Size Estimates: Plant derived protein market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Plant derived protein market size by various segments, such as by type, source, nature, application, and region in terms of ($B).
Regional Analysis: Plant derived protein market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, sources, natures, applications, and regions for the plant derived protein market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plant derived protein market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q.1 What is the plant derived protein market size?
Answer: The global plant derived protein market is expected to reach an estimated $20.0 billion by 2030.
Q.2 What is the growth forecast for plant derived protein market?
Answer: The global plant derived protein market is expected to grow with a CAGR of 6.0% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the plant derived protein market?
Answer: The major drivers for this market are the significant adoption of veganism and health concerns such as cardiovascular diseases, increasing demand for vegan and vegetarian diets, and high availability of plant-based protein products.
Q4. What are the major segments for plant derived protein market?
Answer: The future of the plant derived protein market looks promising with opportunities in the food and feed applications.
Q5. Who are the key plant derived protein market companies?
Answer: Some of the key plant derived protein companies are as follows:
• ADM
• Cargill
• DuPont
• Wilmar
• Roquette Frères
• Glanbia
• Kerry
• DSM
• Ingredion
• Emsland
Q6. Which plant derived protein market segment will be the largest in future?
Answer: Lucintel forecasts that organic is expected to witness the highest growth over the forecast period due to demand for clean-label food and transparency.
Q7. In plant derived protein market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to the growing populationÄX%$%Xs dietary preferences towards plant-based foods and proteins in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the plant derived protein market by type (isolates, concentrates, and textured), source (soy, wheat, and pea), nature (conventional and organic), application (food and feed), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Plant Derived Protein Market, Plant Derived Protein Market Size, Plant Derived Protein Market Growth, Plant Derived Protein Market Analysis, Plant Derived Protein Market Report, Plant Derived Protein Market Share, Plant Derived Protein Market Trends, Plant Derived Protein Market Forecast, Plant Derived Protein Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.