Global plant-based protein industry projected to reach $40.6 billion by 2025
In the North American region, high growth is expected due to increases in population and other factors.
The global plant-based protein market was estimated to be valued at USD $18.5 billion in 2019 and is likely to reach USD $40.6 billion by 2025, growing at a CAGR of 14% during the forecast period, according to a new report offered by ResearchandMarkets.com, Dublin.
The market is experiencing positive growth worldwide. In the North American region, high growth is expected due to increases in population, with improving economic conditions and growth in concerns toward health leading to a rise in the demand for nutritional food and healthy diets in the region. Owing to these factors, the market in the North American region is projected to grow at a significant rate, ResearchandMarkets.com said.
The soy segment is estimated to account for the largest share in the plant-based protein market in 2019. This segment is driven by the increasing popularity and rising demand for a high-protein diet among individuals. Soy protein helps to reduce the cholesterol level, improve metabolism, bone mineral density, the company said, and also helps to reduce the risk of cancer. Soy protein isolates are used in applications such as nutritional bars, meat alternatives, bakery products, sports nutrition products and beverages.
Protein isolates also are growing in demand. Based on type, protein isolates contain a higher amount of protein along with greater digestibility. Isolates are demanded widely in protein and nutrition-oriented applications such as sports nutrition, protein beverages and nutrition supplements. In recent years, they have been required more from athletes, bodybuilders and vegetarians, the company said, and have gained wide application in various beverages and dairy products due to their different functional properties.
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