Vegan Protein Market to Reach $16.3 Billion Before 2026

Persistence Market Research has just released its new research report, “Plant-Based Proteins Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)”  which has delved into understanding of the global plant-based proteins market.

The market can be understood by splitting it into areas, including soy protein, wheat protein and pea protein; by form (such as isolate and concentrate); by application (supplements and nutritional powders, beverages, snacks, protein and nutritional bars, ‘dairy and meat’ products, infant neutron and animal feed); and by region.

The study analyses several areas of market across Africa, Asia Pacific and Middle East, Europe , North America and Latin America.

It found that the global plant-based proteins market will experience high growth in the coming years.

As reported by Markets Insider, “[i]t is poised to register a robust CAGR [compound annual growth rate] of 5.7% throughout the period of forecast 2017-2025. In 2017, the global market was viewed at US$ 10.5 Bn and with this growth rate, it is estimated to reach a value of around US$ 16.3 Bn by the end of 2025.”

Some of the specifics are as follows:

• Asia Pacific is expected to illustrate high pace before 2026. This region is poised to register the highest CAGR of 6.3% during the 2017-225 period. North America leads the global market regarding high market value by 2025, a trend observed since 2012.
• The ‘meat’ products segment is poised to register a significant value CAGR of 6.6%. The animal feed segment is predicted to dominate the global market as it is estimated to show high market value of $4590.7million in 2025, followed by the ‘meat’ products segment which is poised to reach a valuation of $4.1 billion.
• Soy proteins segment by product type is expected to lead the global market with respect to market share; pea proteins  will show the fastest pace to register a CAGR of 7.0% during the forecast period.

Markets Insider has attributed these predictions to a number of factors, including “rising consumer awareness towards preventive healthcare, healthy aging, clean labelling… awareness regarding soy proteins that reduce effects of fatty liver disease, increasing use of soy proteins in sports nutrition… rising obesity rate driving high consumption of plant based proteins, plant based proteins being easier to digest than animal proteins can be used by any age group and the trend of on- the-go-healthy foods are driving the growth of the global plant-based proteins market.”

The list is extensive, and whatever individuals’ reasons are for opting for plant-based protein, these predictions are promising.

While some ‘pulling aspects’ have been identified as potential hinderances to this rise, including volatile pricing, technical difficulties in producing raw material and false negative publicity, it is still exciting to see such hopeful forecasts for the growth of the global plant-protein market.

To read more of the study, you can request a sample copy here.

Image credit: Naturally Intense