Growing Green Exploring the Plant-Based Protein Market

• Posted by Pramod Kumar Mar 11 - Filed in Business - #technology  #Market  #trends  #plant-based protein  #dynamics  #growth opportunities  #consumer preferences  #regulations  - 183 views

  The revenue generated by the plant-based protein market was USD 11,104.3 million in the year 2020, and it will power at a rate of 9.2% by the end of this decade to reach a value of USD 26,721.3 million by 2030, as stated by a market research report by P&S Intelligence.

  Moreover, these are also used for a number of food applications, such as sausages, nutritional bars, dairy replacers and also nutritional ingredients in agriculture and livestock feed.

  Dry Soyabeans were used the most in the past. This had a lot to do with the fact that the dry products are convenient to cook, and easy to handle.
  Moreover, the requirement for dry plant-based protein is on the rise amongst millennials as they have low-calories as opposed to animal proteins, because of which they are the first-choice of fitness trainers and athletes.

  The food category will grow rapidly in the future. This is mainly as a result of the increasing requirement for vegan products, increasing health & wellness trends, and people changing their lifestyles.
  North America will dominate the plant-based protein market as a result of the evolution of consumers toward plant-based foods. This is powered by the increasing emphasis of people on sustainability, food safety, personal health, immunity, and animal welfare.

  Furthermore, with the progression of new techs and state-of-the-art experiments in the food and beverage market, the use of plant-based protein is the most in the region, because of increase in flexitarian and vegan population.

  APAC will grow the fastest in the years to come. This has a lot to do with the alterations in the customers eating habits, in the company of the increasing concern pertaining to the environment, health, and ethical issues. These issues are responsible for an increase in the vegan population, ultimately powering the consumption of the food product, which is plant-based.

  It is because of the growing intolerance toward animal protein in the people, and increase in consumer expenditure, the demand for plant-based protein is on the rise all over the world.