Latest News- Plant Based Protein Products Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Plant Based Protein Products Market is being driven by Expanding global vegan population base

The Plant Based Protein Products Market is expected to grow at a CAGR of 20.51% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 15905.7 million. The global plant-based protein products market is experiencing significant growth due to the rising health consciousness among consumers. With increasing instances of obesity and related diseases, there is a growing demand for natural, low-fat, and low-calorie food and beverage offerings. In response, market players are introducing new plant-based products that cater to this trend. The health and wellness movement is particularly popular among younger consumers, aged 18-32 years, who prioritize natural and nutritious food choices. Companies are capitalizing on this trend to expand their product portfolios and meet the evolving needs of health-conscious consumers. 

Get more information on Plant Based Protein Products Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Soy protein
  • Wheat protein
  • Pea protein
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expanding global vegan population base
• Growing prominence of private label brands
• Growth in organized retailing

However, the market also witnesses some limitations, which are as follows:

• Increasing number of product recalls
• Fluctuating prices of functional foods
• Management challenges faced by manufacturers operating in market

Benefits of Buying Global Plant Based Protein Products Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Plant Based Protein Products Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Plant-Based Protein Products Market encompasses various offerings such as Tofu, Legumes, Pea Protein, and alternatives like plant-based burgers, sausages, meatless chicken, and fish substitutes. These products cater to consumers prioritizing environmental sustainability and animal welfare. Soybeans and the ready-to-eat segment are popular choices. Nutritional values, amino acids, and sodium levels are key considerations. Food allergies are addressed with offerings like pumpkin seed protein. This market appeals to vegans, those on a healthy diet, fitness enthusiasts, and health-conscious consumers seeking muscle-building properties and weight control.

Market Research Overview

The global packaged foods and meats market encompasses businesses engaged in food processing to ensure food safety and increase product longevity. According to Technavio, the market's size is determined by the consolidated revenue of the participating vendors. This market excludes providers of food processing machinery and those specializing in packaged alcoholic and non-alcoholic beverages. Factors fueling the market expansion include the health benefits linked to the consumption of minimally processed foods, such as tofu, legumes, and pea protein, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Additionally, the increasing emphasis on environmental sustainability and animal welfare concerns is driving the demand for plant-based protein products, such as plant-based burgers, in the market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/