Plant-Based Protein Supplement Market Expected to Grow
Seattle, WA -- (SBWIRE) -- 12/04/2019 -- Plant-based Protein Market Description
Plant-based protein products are derived from plant sources such as soy, wheat, and pea. Plant-based proteins are used in protein beverages, dairy alternatives, meat alternatives, proteins bars, nutrition supplements, processed meat, poultry & seafood, bakery, food, and sports nutrition products to enhance their nutritional and functional properties, such as texturing, emulsifying, solubility, stabilizing, and binding.
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The major factors expected to drive the growth of the plant-based protein industry are the growing number of product launches, expansions, and investment by major players, consumers cutting down on meat consumption and adopting plant-based proteins,nutritional benefits offered by plant-based food, and increasing preference of consumers for the adoption of a vegan diet. Recently, ADM (US) expanded its geographic footprint in Brazil with the construction of a new soy protein production complex in Campo Grande, Mato Grosso do Sul, Brazil, at a value of USD 259 million.
Consumers are focused towards a better understanding of the provenance of their food and avoid products deemed unnatural or unhealthy. These "clean" eating trends, driven primarily by millennials, favor foods that are healthy, ethically and naturally sourced, and less processed. Increased plant-based protein product consumption is a direct consequence of this shift.
Plant-based Protein Market
The new compositional research and modified high-moisture extrusion process are helping the growth of the Plant-based Protein market. For instance, Plant-based Protein-based chocolates that are free from animal protein make up for a good demand in the market, for consumers who do not consume dairy. Plant-based milk has observed a significant growth in recent years, with an increasing number of people turning to dairy-free options. This innovative product line of ready-to-eat product with no compromise in taste and texture has, in turn, boosted the overall Plant-based Protein market.
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Key Market Players
The key players in this market include Cargill (US), Archer Daniels Midland Company (US), DowDuPont (US), Glanbia Plc (Ireland), Kerry Group (Ireland), Tate & Lyle PLC (UK), Ingredion Incorporated (US), Burcon NutraScience Corporation (Canada), Royal DSM N.V, (Netherlands), Sotexpro S.A. (France), Axiom Foods (US), and The Scoular Company (US).
Based on the Source, the market has been segmented as follows:
Others (Quinoa, oats, beans, nuts, and seeds)
Based on Type, the market has been segmented as follows
Based on Application, the market has been segmented as follows
Processed meat, poultry, and seafood
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