Global Plant-based Protein Products Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global plant based protein products Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global plant-based protein products market report has been segmented on the basis of product type, end-use application, distribution channel, and region.

Global Plant-based Protein Products Market: Overview

Plant-based protein, also known as vegan protein, refers to protein extracted from lentils, nuts, etc. Plant-based protein is considered as a good source of protein, especially for vegan population. Plant-based protein is as beneficial as animal-based protein as it also helps in building muscle mass, and strengthens overall body, thus increasing energy levels of the human body.

Global Plant-based Protein Products Market: Dynamics

Increasing awareness about benefits of vegan diet among individuals across the globe is a major factor expected to drive market growth. Plant-based protein is beneficial for human health as it provides fiber, vitamins, potassium, minerals, etc. and has antioxidant properties, which is a major factor expected to drive growth of the global plant-based protein market.

Increasing preference for vegan protein owing to rising health concerns, and awareness about animal welfare and impact on environment are other key factors expected to fuel the global plant-based protein market growth.

From the recent past, various food chains such as McDonald's, Domino's Pizza, etc. have been including vegan fast food products in their menu, and this can help in making vegan food available in the market for non-vegan population to taste and increase sales, thereby supporting revenue growth of the global market. In addition, growing demand for supplements, and increasing number of vegan individuals engaging in workouts is resulting in high demand for plant-based protein supplements. This is expected to drive significant revenue growth of the market in the years to come.  Similarly, growing demand for vegan protein for application in infant food, dairy products, bakery products, beverages, etc. is anticipated to drive growth of the target market.

However, a major drawback of plant-based protein is lack of appropriate level of protein in certain plant-based protein products, and lack of Vitamin B 12, which can lead to deficiency in the body. This can result in low adoption of the vegan or plant-based protein, and thus hamper revenue growth of the global market to a certain extent.

Global Plant-based Protein Products Market: Segment Insights

Among the product type segments, the soy protein segment is expected to contribute major share in terms of revenue, as soy protein are exceptionally a complete source of nine essential amino acids required by human body.

Among the distribution channel segments, the supermarket segment is expected to account for significant revenue share in the global market. The online segment is projected to register lucrative growth rate owing to rising preference to purchase online across the globe.

Global Plant-based Protein Products Market: Region Insights

Currently, North America plant-based protein market accounts for significant share in terms of revenue, owing to rising awareness regarding health conscious among population, resulting in high consumption of plant-based protein and related products in countries in the region.

Asia Pacific plant-based protein market is projected to register lucrative CAGR in the global market over the next 10 years, owing to presence of vegan population in large number in certain countries in the region, and increasing awareness regarding benefits of vegan or plant-based protein and related products.

Global Plant-based Protein Products Market Segmentation:

Segmentation by product type:

• Soy Protein
• Wheat Protein
• Pea Protein
• Others (Nuts, Hazelnut, etc.)

Segmentation by end-use application:

• Supplements
• Beverages
• Protein and Nutritional Powders
• Bakery and Snacks
• Breakfast Cereals
• Meat Products
• Dairy Products
• Infant Nutritional
• Animal Feed

Segmentation by distribution channel:

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Retail Stores
• Online Retailers

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa