Plant Based Protein Market Growth, Outlook, Trends Analysis and Forecast 2023-2028

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Plant-based protein refers to protein sources that come from plants, such as legumes, nuts, seeds, and grains. Unlike animal protein sources, plant-based protein sources are typically low in saturated fat and cholesterol and high in fiber, vitamins, and minerals. Plant-based protein sources include tofu, tempeh, lentils, chickpeas, almonds, quinoa, and chia seeds.

The global plant-based protein market is expected to exhibit a growth rate (CAGR) of 7.4% during 2023-2028.

These protein sources can be incorporated into a variety of dishes and meal plans to ensure adequate protein intake for individuals following a vegetarian or vegan diet or those considering reducing their intake of animal products. Additionally, plant-based protein sources have been associated with various health benefits, including a lower risk of chronic diseases, such as heart disease, diabetes, and certain types of cancer.

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Plant Based Protein Market Trends:

The increasing inclination toward health and wellness represents a key factor driving the market growth as plant-based proteins are perceived to be healthier than animal-based products. In line with this, plant-based protein sources are low in saturated fat, cholesterol, and calories, and higher in fiber, vitamins, and minerals, which is also facilitating their demand. Apart from this, rising environmental consciousness, coupled with increasing animal welfare concerns are contributing to the market growth. In addition to this, the advancements in technology have enabled the development of better plant-based protein products that imitate the taste and texture of animal-based products, thus making them more appealing to consumers. This, in turn, is acting as another major growth-inducing factor.

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Plant Based Protein Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the plant-based protein market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • AGT Food and Ingredients
  • Archer-Daniels-Midland Company
  • Axiom Foods Inc.
  • Cargill Incorporated
  • Dupont De Nemours Inc.
  • Glanbia plc
  • Ingredion Incorporated
  • Kerry Group plc
  • Koninklijke DSM N.V.
  • Roquette Fr√®res
  • Tate & Lyle PLC
  • The Scoular Company
  • Wilmar International Limited.

Key Market Segmentation:

The report has categorized the market based on source, type, nature, application and regiion.

Breakup by Source:

  • Soy
  • Wheat
  • Pea
  • Others

Breakup by Type:

  • Concentrates
  • Isolates
  • Textured

Breakup by Nature:

  • Conventional
  • Organic

Breakup by Application:

  • Food
    • Meat Alternatives
    • Dairy Alternatives
    • Bakery Products
    • Performance Nutrition
    • Convenience Foods
    • Others
  • Feed

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key Highlights of The Report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

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