The Global Plant-based Protein Market to Reach Revenues of Over $7 Billion by 2025 - Market Research by Arizton

CHICAGO, Nov. 26, 2019 /PRNewswire/ --  According to Arizton's recent research report, Plant-based Protein Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of approximately 9% during the forecast period.

Key Highlights Offered in the Report:  

1. 39% of the Americans are consuming more plant-based foods. Plant-based proteins are expected to make up 33% of the overall protein market in US by 2054.
2. The number of food and beverage launches in UK with plant-based protein increased from 205 in 2007 to 944 in 2017. UK also accounted for the largest number of plant-based protein product launches in the European region.
3. With the younger population, middle aged and elderly population in Australia is actively adopting gym and fitness activities which is leading to the rising demand for protein supplements in the country.
4. In 2017, the Canadian Government invested $150 million in the Protein Industries Supercluster, a non-profit organization based in Canada that aims to raise awareness of the health benefits of plant-based proteins.
5. The usage of vegan claims in packaging in China jumped by more than 440% in the last five years.
6. Roughly 20% of the consumers surveyed also mentioned that it is difficult to find plant-based alternatives in Brazil.
7. Europe is one of the fastest growing market for plant-based protein supplement powder and expected to grow at an estimated CAGR of 9.33% during the forecast period.
8. Pea protein is the fastest growing source of protein and is expected to grow at a CAGR of 10.17% during the forecast period.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by products, source, application, and geography.
• Competitive Landscape – Profile of 2 key vendors and 10 other vendors.

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Plant-based Protein Market – Segmentation

• The demand for protein bars is not only growing among athletes, however, but the majority of the population also consumes them as an energy-boosting quick meal. The rise in the number of fitness clubs and weight management programs is boosting demand and is expected to grow significantly during the forecast period.
• Rice protein is considered to be an excellent source for vegans and gluten intolerance people. The increasing gluten intolerance is expected to drive the growth by 2025.
• The sports nutrition segment dominates the market. The hike in demand for protein bars, energy drinks, and other supplements among athletes, fitness enthusiasts, and bodybuilders is driving the demand.  

Market Segmentation by Products  

• Protein Powder
• Protein Bar
• RTD Protein Beverages
• Others

Market Segmentation by Source

• Soy
• Pea
• Rice
• Others

Market Segmentation by Application  

• Sports Nutrition
• Additional Nutrition

Plant-based Protein Market – Dynamics

The rising preference of vegan and plant-based diets among consumers owing to increasing concerns regarding animal and environmental protection are driving the market for plant-based products. Millennials are the main drivers for the global shift away from animal-based products consumption. Renowned celebrities and world-class athletes, as well as large companies such as Google, are moving towards the consumption of more plant-based products. Countries such as China are also supporting the vegan movement. The rise of veganism across the globe will positively impact the growth of the plant-based protein market.

Key Drivers and Trends fueling Market Growth:

• Rising Health Conscious Population
• High Prevalence of Lactose Intolerance Population
• Growing Demand for Clean Labels
• Rising sales of RTD product

Plant-based Protein Market –Geography

In North America, consumers are adopting plant-based food diets on account of their health benefits and high nutritional values, and the trend is likely to increase during the forecast period. The US plant-based protein market is expected to grow as 39% of the consumers in the country are actively seeking vegan products in their diets. By source type, soy protein accounted for the largest market share of 65.12% in 2019, however, with rising incidence of soy allergies, the demand for soy free products are rising in the region, resulting in the declining demand for soy products. However, soy is still expected to dominate the market as soy protein is the only plant-based protein type which is considered as a complete protein containing all essential amino acids.

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Market Segmentation by Geography

• North America
• US
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Spain
• APAC
• China
• Japan
• Australia
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia

Major Vendors

• Glanbia
• Danone

Other vendors include - Tone it up, Orgain, KOS, Garden of Life, Your Super, Nuzest, No Cow, Kind, GoMacro, and SimplyProtein.

Explore our consumer goods & retail technology profiles to know more about the industry.

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SOURCE Arizton Advisory & Intelligence