Here's a quick overview of the global plant protein market in 2024:
- Market value: $10.11 billion in 2023, expected to reach $14.36 billion by 2031
- Annual growth rate: 5.5% from 2024 to 2031
- Key players: Archer Daniels Midland Company, DuPont, Beyond Meat
- Main sources: Cereals (8% market share), legumes
Why people choose plant proteins:
- Health benefits
- Environmental concerns
- Improved taste and texture
Market segments:
- Source: Cereals, legumes, aquatic plants
- Use: Food, drinks, baby food, animal feed, personal care
- Form: Isolates, concentrates, textured proteins
Consumer preferences:
- Healthy options
- Clear labeling
- Easy to understand ingredients
Challenges:
- Taste and texture
- Higher prices
- Regulatory compliance
Future trends:
- Increased adoption
- New protein sources
- Enhanced nutritional profiles
| Aspect | Details |
|---|---|
| Market Value 2023 | $10.11 billion |
| Projected Value 2031 | $14.36 billion |
| Growth Rate | 5.5% annually |
| Top Sources | Cereals, legumes |
| Key Players | Archer Daniels Midland, DuPont, Beyond Meat |
| Main Drivers | Health, environment, product improvements |
| Challenges | Taste, price, regulations |
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FAQs
What is the current market share of plant-based proteins?
Plant-based proteins make up 21%-24% of the global plant-based ingredients market. This shows a clear trend towards healthier and more eco-friendly food choices.
Which regions lead in plant-based protein consumption?
North America and Europe are the top consumers, holding over 60% of the market volume share combined.
How big is the plant protein market?
The plant protein market is growing fast:
| Year | Market Value |
|---|---|
| 2019 | $9.6 billion |
| 2023 | $10.11 billion |
| 2031 (projected) | $14.36 billion |
What's driving the growth in plant-based proteins?
Key factors include:
- Rise in veganism
- Health concerns (e.g., cardiovascular disease)
- Demand for sustainable food options
Which plant protein source dominates the market?
Cereal-based plant proteins led the market in 2021, with over 8% revenue share.
Are there new sources of plant protein being explored?
Yes, there's growing interest in aquatic plants as new protein sources.
Which country has the biggest market for plant proteins?
The US leads the market, followed by Canada and Mexico.
What's the expected growth rate for the plant protein market?
The market is set to grow at a rate of 5.5% per year from 2024 to 2031.
How are consumer preferences shaping the market?
Consumers are looking for:
- Healthier food options
- More sustainable choices
- Plant-based alternatives to animal products
This shift in preferences is a key driver of market growth.
