Changing dietary preferences among consumers is evident globally, and the low inclination toward meat and meat-based products is visible among European and North American consumers. The number of consumers becoming flexitarians or vegan is offering enough opportunities for manufacturers to introduce and innovate more in the plant protein ingredient segment. Protein concentration in plant-based proteins ranges from 50-85%, making them suitable for vegan and vegetarian diets. As per United Nations estimates, the world population in 2021 is 7.9 billion and as of January 2021, the total number of vegans in the world is approx 79 million. The rising awareness regarding the benefits of plant-based proteins amongst people is shifting their diet from animal protein to plant-based protein.
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The Organic Plant Protein Ingredients market is expected to grow at a steady rate of around 6.9% owing to the growing demand for plant protein due to its health benefits, mounting animal protein intolerance cases, and rising health and wellness consciousness across the globe. The rise in health consciousness, overall health and nutrition management, and weight management are leading to the shift toward plant-based protein. As per Nielsen, 85% of Canadians and 83% of United States people are preferring plant-based food over animal-based food.
According to UnivDatos Market Insights (UMI)’s research report “global organic plant protein ingredients market”, the market is expected to witness robust growth during the forecast period (2022-2028).
Based on basis of form, the market is categorized into dry and liquid. Among these, the dry segment held a significant share of the market in 2021. This is mainly due to the dry form of processing of protein being majorly used in the production of protein concentrates. Dry milling technology is used to process pulses and cereal making their protein content reach up to 65%. Therefore, the growing preference for high-protein diets among the health-conscious population has increased the demand for the dry form.
Based on source, the market is segmented into soy, wheat, pea, and others. The pea category is to witness a higher CAGR during the forecast period due to their popularity and increasing utilization in various dietary supplements.
Despite it being a plant-based protein, pea protein is considered a "complete" protein and a good source of BCAA's (leucine, isoleucine, and valine), which promotes muscle growth. A growth in the consumption of pea protein has been mainly triggered by the sports nutrition segment where consumers positively link protein with improved sports performance.
North America to witness extensive growth
For a better understanding of the market adoption of the organic plant protein ingredients industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. North America will grow with a significant CAGR during the forecast period. This is mainly due to several key factors in the United States and Canada which drive the growth of organic plant protein ingredients market. Plant protein foods contribute 65% of the per capita supply of protein on a worldwide basis and 32% in the North American region. Mixtures of plant proteins can serve as a complete and well-balanced source of amino acids for meeting human physiological requirements. According to Nielsen, 55% of U.S. households state “high protein” is an important attribute considered when buying food. Furthermore, the exploitation of modified high-moisture extrusion processes in the industries is intensifying the growth of the organic plant protein ingredients market.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the organic plant protein ingredients market are Archer Daniels Midland Company, Proeon, Cargill, Incorporated, Kerry Group plc, AMCO Proteins, The Scoular Company, A&B Ingredients, Inc., Glanbia plc, Reliance Private Label Supplements, Ingredion.
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“Global Organic Plant Protein Ingredients Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By Source (Soy, Wheat, Pea, and Others)
2. By Form (Dry and Liquid)
3. By Application (Food and Beverages and Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Archer Daniels Midland Company, Proeon, Cargill, Incorporated, Kerry Group plc, AMCO Proteins, The Scoular Company, A&B Ingredients, Inc., Glanbia plc, Reliance Private Label Supplements, Ingredion)
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Key questions answered in the study:
1. What are the current and future trends of the global organic plant protein ingredients market industry?
2. How the industry has been evolving in terms of source, form, and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global organic plant protein ingredients industry?
5. What is the customer orientation, purchase behavior, and expectations from the global organic plant protein ingredients market suppliers across various regions and countries?