Global Plant Protein Ingredients Market Research Report: Information By Type (Protein Isolate, Concentrate, Textured Protein), Source (Soy, Wheat, Pea, Vegetable), Application (Dairy, Bakery & Confectionary, Beverages) and Region – Forecast Till 2023
Pune, India -- (SBWIRE) -- 02/01/2018 -- Market Overview:
Plant protein ingredients are large molecules which are formed from one or more chains of amino acids in a specific order. From last few years companies are promoting the nutritional profiles of various plant protein ingredients such as pea & soy protein along with their health benefits on social media and health magazines which has enhanced the knowledge and awareness about functional properties of various protein ingredients.
The global plant protein ingredients market is growing due to increased demand for vegan food products. With the growing consumer awareness and their increasing interest in healthy food, the demand for plant protein ingredients has increased recently. North America and Europe are the major consumers of plant protein ingredients followed by the Asia Pacific region.
Increase in the demand for overall health and wellness products with protein-rich foods and beverages is driving higher demand for plant protein ingredients. Furthermore, shifting consumer preference towards vegan food ingredients, advancement in processing methods & technologies, and high opportunities in developing countries is positively supporting the growth of global plant protein ingredients market.
However, plant protein ingredients have been facing challenges due to the high availability of economical alternatives such as animal and dairy protein ingredients. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of plant protein ingredients in the global market. The global plant protein ingredients market is expected to grow at a CAGR of 5.8% during the forecast period, 2017-2023.
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The global plant protein ingredients market is segmented into type, source, and application.
On the basis of the type, it is segmented into protein isolate, protein concentrate, textured protein, and others. Among all, the textured segment is dominating the market followed by protein isolate owing to the presence of high protein content.
On the basis of the source, the plant protein ingredients market is segmented into soy protein, wheat protein, pea protein, vegetable protein, and others. The soy protein segment is dominating the market followed by pea protein.
On the basis of the application, the plant protein ingredients market is segmented into dairy and frozen desserts, bakery and confectionary, snacks, beverages, and others. The bakery and confectionary segment is dominating the market.
The major players in the plant protein ingredients market
I. du Pont de Nemours and Company (U.S.)
Archer Daniels Midland Company (U.S.)
Cargill Incorporated (U.S.)
Omega Protein Corporation (U.S.)
Kerry Group (Ireland)
Amco Proteins (U.S.)
Omega Protein Corporation (U.S.)
Axiom Foods, Inc. (U.S.)
Roquette Freres S.A. (France)
The Scoular Company (U.S.)
The global plant protein ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the plant protein ingredients market followed by Europe owing to increasing demand for high protein food and beverage products. Canada is projected to be the major market in terms of product innovation related to plant protein ingredients.
Furthermore, soy plant proteins are projected to grow fastest among the various protein ingredients in the Asia Pacific region over the forecast period. China is one the largest consumer of soybean in the world, supports the plant protein ingredient market.
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Plant Protein Ingredients Market is segmented on the basis of type, source, application, and region