Northbrook, IL 60062 -- (SBWire) -- 11/08/2023 --The plant-based protein market, currently valued at USD 13.3 billion and projected to reach USD 19.2 billion by 2028 with a CAGR of 7.7%, is gaining traction owing to its nutritional diversity and sustainable appeal. An upsurge in health-conscious consumers and environmental awareness is fueling the demand for plant-based protein sources, highlighting their benefits in reducing saturated fat, promoting heart health, and aiding weight management. Soy, peas, lentils, and beans are leading the charge in providing cholesterol-free and nutrient-rich protein alternatives.
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Diverse Offerings Addressing Dietary Needs:
In response to dietary restrictions and an increasing focus on ethical and environmental concerns, the market is witnessing a surge in products like tofu, tempeh, and seitan, catering to consumers seeking meat and animal-based protein substitutes. These plant-based options are not only enriched with essential nutrients but are also fortified with additional vitamins and amino acids, supporting muscle growth and recovery. A wide array of plant-based protein options, including burgers, sausages, snacks, and dairy alternatives, underscores the industry's adaptability to various dietary needs, while culinary innovation continues to enhance consumer experiences.
Rising Preference for Liquid Plant-Based Proteins:
The liquid sub-segment within the plant-based protein market is expected to grow at a rate of 9.0%, owing to its convenience and versatility in meal preparation. The process of extracting protein ingredients from legumes involves a liquid-based method, attracting busy individuals seeking quick, nutritious meal options. Liquid plant-based proteins find application in nutritional supplements, beverages, and culinary uses, enhancing the nutritional value of smoothies, soups, sauces, and dressings.
Soy's Dominance as a Plant-Based Protein Source:
Soy, a highly popular plant-based protein source, offers proven health benefits and is processed into various types, including isolates, concentrates, and textured soy protein. Recognized for its role in reducing the risk of heart and cardiovascular diseases, soy protein continues to witness a surge in demand, leading to a significant increase in global soybean exports. Companies in the industry, such as Benson Hill Inc (US), are capitalizing on this demand by introducing innovative soy protein-based products to meet the growing market needs.
Dynamic Growth in the Asia Pacific Region:
The Asia Pacific region, poised for substantial growth in the plant-based protein market, is witnessing a surge in demand for fortified nutritional food and dairy alternatives. Driven by urbanization, dietary diversification, and increased consumer awareness of health and fitness, key players such as ADM (US), Cargill, Incorporated (US), and Roquette Frères (France) are actively expanding and diversifying their plant-based protein portfolios to cater to the region's evolving dietary preferences.
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Conclusion:
The flourishing plant-based protein market is experiencing a global shift towards sustainable and nutritious dietary alternatives, driven by an increasing preference for healthy and environmentally conscious lifestyles. With an emphasis on innovation and consumer-centric product development, the market continues to thrive, offering a diverse array of plant-based protein options that support both personal health and sustainable dietary practices.
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Plant-Based Protein Market Worth $19.2 Billion by 2028, at a CAGR of 7.7%
Plant-Based Protein Market by Source (Soy, Wheat, Pea, Canola Rice & Potato, Beans & Seeds, Fermented Protein), Type (Concentrates, Isolates, Textured), Form (Dry, Liquid), Nature (Conventional, Organic), Application and Region - Global Forecast to 2028