According to a new market research report titled, “Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), and Application (Food and Beverages, Animal Feed) – Global Forecast to 2028″, the global plant-based protein market is anticipated to grow at a CAGR of 9.7% from 2021 to 2028 to reach $23.44 billion by 2028.
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According to the FAO/UN forecast, in 2050, the global food demand, particularly for protein, will be twice the demand in 2013 (FAO, 2013). When global food security is considered, protein will become the limiting macronutrient, and the world population will require sufficient quantities of protein with adequate quality. Further, in recent years, high protein diets and products have made a real impression on nutrition, and re-shaping consumers’ attitudes towards protein in their food intake as adequate nutrition is an important aspect of a healthy lifestyle for all individuals. With the increasing world population and welfare, the demand for protein as a food-nutritional component is rising sharply.
The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. Proteins can help reduce the risk for diabetes and cardiovascular disease and be imperative to feeling healthy and energetic by maintaining healthy skin, nails, and hair. It is a vital nutrient required for building, maintaining, and repairing tissues, cells, and organs throughout the body; it keeps the immune system functioning properly; and maintains heart health. It also plays a vital role in the growth and development of children and aged people. Also, there is a growing awareness of the negative health aspect of eating red meat, with a growing number of people wishing to either minimize or cut animal protein out of their diet altogether. This is leading to a significant increase in plant-based protein production and consumption worldwide.
The global plant-based protein market study presents historical market data in terms of value (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on type, crop type, source process, form, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
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