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.