Food And Beverages

Estimated Growth Potential Of The Plant-Based Protein Market 2024-2033

January 30, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Exponential Growth and Projections

The plant-based protein market size has grown exponentially in recent years.
It will grow from $42.13 billion in 2023 to $52.08 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%.
Expected to reach $107.28 billion in 2028 at a CAGR of 19.8%.

Drivers of Growth

Increased health and wellness awareness.
Concerns about environmental sustainability.
Preference for vegetarian and vegan diets.
Expansion of the plant-based food and beverage industry.
Demand for allergen-free and non-GMO protein sources.

Forecast Period Dynamics

Regulatory support and labeling standards.
Rising consumer demand for clean label and natural ingredients.
Market penetration in emerging economies.
Increasing applications in functional foods and nutraceuticals.
Growing interest in sports nutrition and performance-enhancing supplements.
Major trends: Technological advancements, hybrid products, fermented proteins, customized solutions, dairy alternatives.

View More On The Plant-Based Protein Market Report 2024 – https://www.thebusinessresearchcompany.com/report/plant-based-protein-global-market-report

Growing Health Consciousness Drives Demand For Plant-Based Proteins

Plant-based proteins are conducive to weight loss and muscle health.
High in fiber, low in calories and fats.
Example: 70% of Indians prioritizing food and lifestyle adjustments post-COVID-19.
Key companies in the market: Archer-Daniels-Midland, DuPont Nutrition & Biosciences, etc.

Revolutionizing Plant-Based Protein Market Through Strategic Partnerships And Advanced AI Technology

Major companies like Food System Innovations partnering with AI experts.
Example: GreenProtein AI optimizing extrusion of plant-based meats.
Aim: More predictable and efficient production processes.

Wm Partners Expands Portfolio With Acquisition Of Canada-Based Plant-Based Protein Company Vega

WM Partners’ acquisition of Vega enhances its brand portfolio.
Vega, a Canadian company, produces plant-based proteins.

Market Segmentation

By Type: Isolates, Concentrates, Textured.
By Source: Soy, Wheat, Pea, Other Sources.
By Form: Dry, Liquid.
By Application: Feed, Food, Other Applications.

Regional Insights

North America dominated the market in 2023.
Asia-Pacific poised for fastest growth in the forecast period.

RequestA Sample Of The Global Plant-Based Protein Market Report 2024:

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The Plant-Based Protein Global Market Report 2024 provides comprehensive insights on the plant-based protein market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the plant-based protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Plant-Based-Meat Global Market Report 2024

Protein Expression Global Market Report 2024

Protein Inhibitors Global Market Report 2024

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