Reports > Chemicals And Materials > Plant Protein Market Report
Plant Protein Market Size, Share, Industry Trends and Forecast to 2033
This market report provides an in-depth analysis of the plant protein industry, spotlighting market dynamics, size forecasts, and segmentations from 2023 to 2033. It aims to guide stakeholders in making informed decisions based on current trends and future projections.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.50 Billion |
| CAGR (2023-2033) | 9.6% |
| 2033 Market Size | $27.12 Billion |
| Top Companies | TPI Enterprises, Beyond Meat, Taste Nirvana, DuPont Nutrition & Biosciences |
| Last Modified Date | 15 Nov 2024 |
Plant Protein Market Report (2023 - 2033)
Plant Protein Market Overview
What is the Market Size & CAGR of Plant Protein market in 2023?
Plant Protein Industry Analysis
Plant Protein Market Segmentation and Scope
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Plant Protein Market Analysis Report by Region
Europe Plant Protein Market Report:
Europe's plant protein market is currently valued at $2.88 billion, forecasted to reach $7.43 billion by 2033. Strong regulations on health and sustainability along with consumer preference for locally-sourced ingredients significantly boost plant-based product consumption.Asia Pacific Plant Protein Market Report:
In 2023, the Asia Pacific plant protein market is valued at approximately $2.27 billion, projected to increase to $5.86 billion by 2033. The rising middle-class population and increasing disposable incomes are driving demand for health-oriented products, particularly among younger demographics who favor plant-based protein sources.North America Plant Protein Market Report:
North America leads the plant protein market with a valuation of $3.68 billion in 2023, projected to surge to $9.51 billion by 2033. The growing trend of plant-based diets and increasing availability of plant protein-based products in supermarkets highlight the widespread shift towards vegetarian and vegan lifestyles.South America Plant Protein Market Report:
The South American market is currently estimated at $0.32 billion, with expectations to grow to $0.82 billion by 2033. The region's agricultural sector is a significant contributor, as local crops like quinoa and soybeans are being utilized for protein production, fostering regional commercial growth.Middle East & Africa Plant Protein Market Report:
The Middle East and Africa show a market size of $1.36 billion in 2023, expected to grow to $3.50 billion by 2033. Increasing interest in health and wellness, coupled with a youthful population, enhances the uptake of plant protein products across various demographic segments.Request a custom research report for industry.
Plant Protein Market Analysis By Product
Global Plant Protein Market, By Product Market Analysis (2023 - 2033)
The segment of plant protein powders dominates the market, projected to grow from $7.18 billion in 2023 to $18.54 billion by 2033, indicating a share of 68.36%. Textured proteins and liquid forms follow, with textured proteins valued at $2.15 billion in 2023 and expected to see strong growth as demand for meat alternatives rises. Overall, this segment is pivotal for the market as it adapts to evolving consumer preferences.
Plant Protein Market Analysis By Application
Global Plant Protein Market, By Application Market Analysis (2023 - 2033)
The food and beverage sector represents the largest application segment for plant proteins, valued at $7.18 billion in 2023 and expected to grow significantly in response to dietary trends. Nutraceuticals are also emerging, with consumers inclined towards health-focused products. Animal feed's market share is comparatively smaller, yet consistently growing as plant protein enhances animal nutrition.
Plant Protein Market Analysis By Source
Global Plant Protein Market, By Source Market Analysis (2023 - 2033)
Sources of plant protein include soy, pea, and wheat. Soy protein dominates due to its mild flavor and high nutritional content, expected to hold a consistent market share of 68.36%. Meanwhile, pea and wheat proteins are gaining traction, specifically as innovative food products catering to diverse dietary needs emerge.
Plant Protein Market Analysis By Form
Global Plant Protein Market, By Form Market Analysis (2023 - 2033)
Plant proteins are predominantly sold in powder form, with sales expected to rise significantly, aiming for a market size of $18.54 billion by 2033. Textured forms are also growing as consumers seek meat-like textures in vegetarian diets, encouraging innovation in manufacturing and processing techniques.
Plant Protein Market Analysis By Distribution Channel
Global Plant Protein Market, By Distribution Channel Market Analysis (2023 - 2033)
Online sales are surging, with market size expected to reach $21.82 billion by 2033, reflecting a shift in shopping behavior towards e-commerce. Offline retail remains significant, yet it sees slower growth rates due to the rise of digital shopping convenience.
Plant Protein Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Plant Protein Industry
TPI Enterprises:
A leading player in the plant protein space, known for its innovation in plant-based protein extraction methods and broad product offerings across multiple food categories.Beyond Meat:
A pioneer in developing plant-based meat alternatives, Beyond Meat continues to dominate the market with its sustainable approach to protein production and extensive R&D in flavor and texture enhancements.Taste Nirvana:
This company focuses on high-quality coconut products, including protein-based snacks, harnessing nutritional benefits while catering to the health-conscious consumer.DuPont Nutrition & Biosciences:
DuPont leads with technological advancements in plant protein production, supplying a range of protein solutions to elevate food and beverage products.We're grateful to work with incredible clients.
