Plant-Based Protein Products Market 2021-2025: Soy Protein will lead the Market growth

The plant-based protein products market share is expected to grow up to USD 6.04 billion, accelerating at a CAGR of 9% during the forecast period. The expanding global vegan population base will offer immense growth opportunities to market vendors. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Plant-Based Protein Products Market: Market Segments and Growth Forecasts

The plant-based protein products market report will provide insights into each segment's current market share and growth projections for the next five years.

• The Plant-based protein products market is segmented by Product (Soy protein, Wheat protein, Pea protein, and Others) and Geography (North America, Europe, APAC, South America, and MEA).
• Based on the product segmentation, the market growth in the soy protein segment will be significant during the forecast period.
• In terms of geographic segmentation, 40% of the market growth will originate from North America during the forecast period. US and Canada are the key markets for plant-based protein products in North America.
• Factors such as expanding the vegan population base, increasing awareness about the health benefits of plant-based protein products, and an increasing number of new product launches will facilitate the plant-based protein products in North America.
• The report provides an accurate prediction of the contribution of all the geographic segments to the growth of the plant-based protein products market size.

Plant-Based Protein Products Market: Trends, Drivers, Challenges

The report helps market players to discover the various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will provide clients with all the information they would require for designing a growth strategy for their business.

• A key market driver for the plant-based protein products market is expanding global vegan population base.
• The growing prominence of private label brands is another factor that will be instrumental in driving the market growth during the forecast period.
• Increasing health consciousness among consumers is one of the major plant-based protein products market trends that supports market growth.
• The increasing number of product recalls is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.

Plant-Based Protein Products Market: Vendor Analysis

• The market is fragmented due to the presence of several players.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• Archer Daniels Midland Co., Cargill Inc, DuPont de Nemours Inc., Glanbia Nutritionals Inc., Kerry Group Plc, Mann Packing Co. Inc., Omega Protein Corp., PepsiCo Inc., Tate & Lyle Plc, and The Kroger Co. are some of the major plant-based protein products market vendors.

Download the Free PDF Sample Report The custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 9%.
    
2. What is the incremental growth of the market?
   The market is expected to grow up to USD 6.04 billion.
    
3. What is a key factor driving this market?
   Expanding global vegan population base will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   40% growth will originate from North America.
    
6. Who are the leading market vendors?
   The leading vendors in this market are Archer Daniels Midland Co., Cargill Inc, DuPont de Nemours Inc., Glanbia Nutritionals Inc., Kerry Group Plc, Mann Packing Co. Inc., Omega Protein Corp., PepsiCo Inc., Tate & Lyle Plc, and The Kroger Co.
    
7. What are the market segments covered in this report?
   The market is segmented by Product (Soy protein, Wheat protein, Pea protein, and Others) and Geography (North America, Europe, APAC, South America, and MEA).