Plant-Based Protein Market To Be Worth USD 16.63 Billion By 2027 Growing at a CAGR of 7.0% | Emergen Research
The increasing adoption of organic food in the food & beverage industry and a growing preference for vegetarian diets are driving the demand for the plant-based protein market.
Vancouver, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The Global Plant-based Protein Market will be worth USD 16.63 Billion by 2027, according to the current analysis by Emergen Research. The growth of this market can be attributed to the growing preference for a vegetarian diet and the increasing vegan population. The increasing adoption of organic food in the food & beverage industry is expected to drive the demand for plant-based proteins. The rising prevalence of type 2 diabetes and cardiovascular diseases among the growing population is fueling the demand for plant-based protein products. The growing awareness about environmental sustainability, and rising preferences for eating clean, has increased the demand for plant-based protein products.
The uncertainty regarding allergies associated with plant-based protein might hamper the demand for the products. The absence of the 20 essential amino acids in plant-based proteins required for human growth and development is expected to restrain the demand for plant-based proteins.
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*Key Highlights From The Report*
· In April 2020, Royal DSM, a global leader in Nutrition, Health, and Sustainable Living, announced the completion of the acquisition of Glycom A/S, the leading supplier of Human Milk Oligosaccharides (HMO) in the world, for an enterprise value of € 765 million.
· The Dry Form sub-segment held the largest market share of 59.6% in 2019. The increasing R&D has resulted in advancements in biotechnology, and microbiology research activities are driving the growth of the segment.
· The Textured Protein sub-segment accounted for the largest market share in 2019 due to the availability of textured soy products in the global nutrition industry. The high fiber content of the textured pea protein has increased its utilization in the production of dietary supplements.
· The Pea protein segment is estimated to be the fastest-growing segment over the forecast period due to the rising consumer preference for pea-based protein and the nutritional benefits of the pea protein.
· North America accounted for the largest share in the plant-based protein market in 2019. The increasing awareness among the health-conscious population about veganism is driving the demand for the market in the region.
· Key participants include CARGILL, ARCHER DANIELS MIDLAND (ADM), DuPont, ROQUETTE FRÈRES, GLANBIA, WILMAR INTERNATIONAL, DSM, KERRY GROUP, EMSLAND GROUP, and INGREDION, among others.
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*Emergen Research has segmented the **Global Plant-based Protein Market on the basis of type, form, application, source, and region: *
· *Type Outlook (Revenue, USD Billion; 2017-2027)*
· Protein Concentrates
· Protein Isolates
· Textured Protein
· *Form Outlook (Revenue, USD Billion; 2017-2027)*
· Liquid
· Dry
· *Application Outlook (Revenue, USD Billion; 2017-2027)*
· Food Ingredients
· Animal Feed
· *Source Outlook (Revenue, USD Billion; 2017-2027)*
· Pea
· Soy
· Wheat
· Others (Rice, Potato, Canola, and Oats)
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· *Regional Outlook (Revenue, USD Billion; 2017-2027)*
· North America
1. U.S.
2. Canada
· Europe
1. Germany
2. U.K.
3. France
4. BENELUX
5. Rest of Europe
· Asia Pacific
1. China
2. Japan
3. South Korea
4. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. U.A.E.
3. Rest of MEA
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