As
stated by Persistence Market Research, the global
plant-based proteins market
is anticipated to grow at a robust rate to reach a significant value
by the end of the assessment period. The plant-based proteins market
has been experiencing noteworthy growth during 2012-2016 period. It
is projected to grow at a value CAGR of 5.7% throughout the period of
forecast to reflect a market value about US$ 16.3 Bn by the end of
2025 from a market valuation of about US$ 10.5 Bn in 2017. This
growth can be attributed to the rising demand for plant-based
proteins in various food & beverages, and bakery products during
the period of assessment as well as rising demand for clean label
products. Plant-based proteins are looked upon as healthy
alternatives to dairy/animal proteins and this fact is supporting the
growth of the global plant-based proteins market. Moreover, trends
such as rising demand for organic-based foods and increasing demand
for healthier and premium food options are indirectly influencing the
growth of the global market in a positive way.
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Soy
protein segment to bolster its dominance during the assessment period
Soy
protein segment by product type is the largest segment and is
anticipated to dominate the global market by product type with
respect to market value share by the end of 2025. The soy segment was
valued at US$ 6.8 Bn in 2017 and is estimated to portray a value of
about US$ 10.4 Bn by the end of 2025. This segment is projected to
grow at a high value CAGR of 5.4% during the period of assessment
2017-2025. This segment is expected to create absolute dollar
opportunity of US$ 323.5 Mn in 2017 over 2016 and an incremental
dollar opportunity of US$ 3.6 Bn between 2017 and 2025.
Wheat
and Pea show high growth opportunities
By
product type, wheat protein and pea protein segments show good growth
opportunities in the coming years. The wheat protein segment is
anticipated to reach a market evaluation of about US$ 3.6 Bn by the
end of 2025 from an evaluation of US$ 2.3 Bn in 2017. This segment is
expected to grow at a robust CAGR of 6.1% throughout the period of
forecast. The pea protein segment is an emerging one and is
anticipated to project the highest growth during the entire forecast
period. It is poised to register the highest CAGR of 7.0% during
2017-2025 owing to rising awareness of high nutritional value that
pea proteins provide. But this segment shows less strength in terms
of market revenue as compared to wheat and soy proteins segments.
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Regional
Outlook – Soy to say cheese
In
North America region, the soy protein segment holds major share owing
to the sifting consumer preference for plant protein based beverages
which has resulted in the increased use of soy proteins in this
region. This trend is observed in other regions also, such as Asia
Pacific, Europe, Middle East and Africa and Europe. To infer, the soy
protein segment by product type has been witnessing growing
popularity in various regions across the globe.
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