The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Plant Protein Ingredient. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Plant Protein Ingredient Market across various industries and regions.
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Demand of plant protein ingredient is expected to grow exponentially and is projected to create an absolute $ opportunity of US$3.0 Bn during forecast period 2019 – 2027. Meat-based ingredients have been a primary source of protein in developed countries for several years. However, a significant uptick in meat consumption have made their procurement complex for alternative applications such as protein ingredients. This has also imparted price pressure on meat based protein products.
This has caused a veritable shift in manufacturing processes of companies to increase volume of plant based protein ingredients in their portfolio. Emerging shift towards alternative protein ingredient sources such as plant based protein is expected to decelerate growth of meat protein by half.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Plant Protein Ingredient market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Plant Protein Ingredient
This newly published and insightful report sheds light on Market Insights of Plant Protein Ingredient, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Plant Protein Ingredient Market.
A comprehensive estimate on plant protein ingredient market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of plant protein ingredient during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
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Plant Protein Ingredient Market: Segmentation
FactMR’s study has done the segmentation of plant protein ingredient market on the basis of product type, form, application and region.
Product Type
- Soy Protein
- Plant Protein Ingredient
- Pea Protein
- Rice Protein
- Potato Protein
- Others
Form
- Isolate
- Concentrate
- Other Forms
Application
- Sports Nutrition
- Clinical Nutrition
- Infant Nutrition
- Bakery & Confectionary
- Fortified Food & Beverages
- Other Applications
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Enhancement of Production Capacity to be Key Market Tenet
The major companies in the plant protein ingredient market such as A & B ingredients, Axiom Foods Inc., Cargill, Inc. etc are front runners in the plant protein ingredient market.
These players are focusing on increasing their production capacities to meet the growing supply of plant protein ingredients in the market. For instance, In January, 2019 Ingredion, Inc. has announced its investment of US$ 185 Mn for expansion of plant protein ingredient plant based in Vanscoy, Saskatchewan and Canada in order to increase the company’s production capacity which is likely to capture the market in the coming years.
Key Takeaways of Global Plant Protein Ingredient Market
- The surge in demand for concentrate type of plant protein ingredients accounts for more than 60% market share and is expected to indicate a rising growth curve in plant protein ingredient market during period of forecast 2019 – 2027.
- Wheat plant protein ingredient type is a major contributor to global plant protein ingredient market and is projected to grow 1.4X over period of forecast 2019 – 2027.
- North America and East Asia plant protein ingredient market together hold more than 3/5th market share. East Asia will grow at a higher CAGR than the global average.
- South Asia and Oceania plant protein ingredient market to hold more than 10% market share in terms of volume and are likely to gain 178 BPS over forecast period 2019 – 2027.
- United States spending on plant protein ingredients is 1.7X as compared to Europe’s per capita spending on plant protein ingredient which is around US$ 6. Moreover, per capita spending by these regions is projected to grow by more than 20% in next three years
- Pea protein and soy protein are gaining traction as compared to other plant protein ingredients across the globe owing to increased applications in nutrition.
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More Valuable Insights on Plant Protein Ingredient Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Plant Protein Ingredient, Sales and Demand of Plant Protein Ingredient, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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