Plant Based Protein Market is predicted to reach USD 24.5 billion at a CAGR of 7.80% during the forecast period

Market Research Future (MRFR) has published on the “Global Plant based protein Market”.

MRFR recognizes the following companies as the key players in the global plant based protein market— Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

Plant Based Protein Market Highlights

The global plant based protein market is accounted to register a CAGR of 7.80% during the forecast period and is estimated to reach USD 24.5 Billion by 2032.

Globally, the demand for plant-based proteins is rising significantly as more people adopt vegetarian and vegan diets, place a high value on sustainability and health, and look for other protein options. Market expansion is fueled by elements including rising environmental consciousness about the effects of animal agriculture and the accessibility of cutting-edge plant-based goods, which present potential in a number of sectors including food and beverage, healthcare, and sports nutrition.

Segment Analysis

The global plant based protein market has been segmented based source, type, form, nature and application.

On the basis of source, the market is segmented into soy, wheat, pea, other sources. The pea source dominated the market in 2022. Because pea protein contains all nine of the body's essential amino acids, all of which are balanced and present.

Based on type, the global plant based protein market has been segmented into concentrates, isolates, and texturned. The isolates segment dominated the market in 2022. Plant-based protein isolates with high nutritional value are used in functional foods and dietary supplements in a number of ways.

Based on form, the global plant based protein market has been segmented into dry and liquid. The liquid segment dominated the market in 2022. The need for protein in nutritional supplements and beverages is often larger than in other food applications, therefore the wet form of protein processing meets this demand while also providing a higher level of nutrition.

Based on nature, the global plant based protein market has been segmented into conventional and organic. The organic segment dominated the market in 2022. The desire for clean-label foods and information about the origins of food will continue to develop throughout the forecast period, which will favourably impact the organic plant-based protein market.

Based on application, the global plant based protein market has been segmented into food, meat alternatives, dairy alternatives, bakery products, performance nutrition, convenience foods, feed. The feed segment dominated the market in 2022. Plant-based proteins are frequently used in feed products as the market for clean label and sustainable feed solutions in this industry is growing.

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Regional Analysis

The global plant based protein market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe plant based protein market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The plant based protein market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World plant based protein market comprises of Middle East, Africa, and Latin America.

The North America Plant based protein Market is expected to grow at the fastest CAGR from 2023 to 2032. Plant-based proteins are thought to be generally healthier since they include more fibre and less cholesterol and saturated fat than animal-based proteins. The growing health consciousness in North America has increased the demand for goods with plant-based proteins, which is driving the market's rise.

Moreover, the second-largest market share belongs to Europe. There are more vegans, vegetarians, and flexitarians in the area than ever before, and they are actively seeking plant-based alternatives to meet their dietary preferences and wellness goals. The growing demand has led to an increase in the market for plant-based proteins in Europe.

Additionally, in 2022, this market was headed by the Asia-Pacific Plant-based Protein Market (45.80%). The increase in demand for plant-based proteins in this region is primarily due to individual religious preferences that influence dietary decisions for plant-based foods and proteins. The rise in cardiovascular and other sorts of heart illnesses in the region has also had a substantial impact on peoples' propensity to include more plant-based protein in their meals.

Furthermore, as the region adopts healthier and more sustainable nutritional options, the market for plant-based proteins in Latin America is expanding. Growing numbers of vegetarians and vegans, increasing consumer awareness of environmental issues, and a need for plant-based alternatives all contribute to the market's expansion and present potential for plant-based protein products in Latin America.

Key Findings of the Study

• The global plant based protein market is expected to reach USD 24.5 Billion by 2032, at a CAGR of 7.80% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The increase in demand for plant-based proteins in this region is primarily due to individual religious preferences that influence dietary decisions for plant-based foods and proteins.


• Based on type, the isolates segment was attributed to holding the largest market in 2022.


• Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).