#Plant-based Meat Market Forecast
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Plant-based Meat Market Size, Share, Growth Strategies, Region, and Future Forecast 2027
The global plant-based meat market size is estimated to be valued at USD 7.9 billion in 2022 and is projected to reach USD 15.7 billion by 2027, recording a CAGR of 14.7% in terms of value during the forecast period. Plant-based meat products serve as an alternative to animal meat. The rise in consumption of plant-based meat is either due to medical reasons or lifestyle changes.
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The food retail segment among distribution channels is estimated to have the largest market
Based on the distribution channel, the food retail segment is estimated to account for the largest share of the plant-based meat market in 2022. Food retail refers to operating retail, supermarkets, hypermarket stores, and other stores where various products, such as grocery items, vegetables, uncooked meat, and frozen products, are made available to consumers. The distribution channel is already popular among consumers worldwide due to the wide availability of various products. Therefore, this distribution channel is being used by established plant-based meat companies and startups to increase the penetration of their products in the market, making it the largest segment during the forecast period in the plant-based meat market.
The burger patties segment is projected to grow at the highest CAGR in the plant-based meat market during the forecast period
By product, the plant-based meat market is segmented into burger patties, strips & nuggets, sausages, meatballs, and other products. The other products include slices, fillets, cutlets, fingers, and crumbles. Burgers are generally very popular among consumers globally, particularly in North America. With the growing veganism trend and health consciousness, the demand for plant-based burgers is on the rise. The segment has been dominating the market historically and is expected to continue doing so during the forecast period, making it the fastest-growing product segment in the plant-based meat market.
Europe region holds the largest share in the plant-based meat market
The European plant-based meat market accounted for the largest market share in 2020. This dominance is attributed to the rising health concerns among consumers regarding meat products and the exponentially growing veganism trend in the region. Furthermore, European plant-based meat manufacturers focus on developing innovative products backed by appropriate research and development facilities available in the region. Several European retailers and supermarkets have added plant-based meat products to their product range to cater to the rising demand for plant-based meat products across the region.
Top Companies in Plant-based Meat Market
Key players in this market include Beyond Meat (US), Kellogg Company (US), Impossible Foods Inc. (US), Maple Leaf Foods (Canada), Unilever (UK), Conagra Foods (US), Tofurky (US), Gold&Green Foods Ltd (Finland), Sunfed (New Zealand), and Monde Nissin (Philippines).
Beyond Meat (US), a Delaware Corporation is one of the biggest alternative protein brands offering a portfolio of plant-based meats. The company markets the plant-based product via three categories: beef, pork, and poultry. Beyond Meats range of plant-based meat products can be categorized into four segments: Beyond Burgers, Beyond Sausage, Beyond Beef, and Beyond Beef Crumbles. The company has a wide presence in the US. Its factories are in Columbia and Missouri of the US.
Impossible Foods Inc., (us), manufactures plant-based products by observing animal products at the molecular level and selects specific proteins and nutrients from greens, seeds, and grains to recreate meat and dairy products. Impossible Foods Inc. has its first large-scale food manufacturing site located in Oakland, California. The countries where the company has its presence include the US, Canada, Hong Kong, Macau, and Singapore.
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Plant-Based Meat Market is Estimated to be Worth US$13 Bn by 2026
“According to Fairfield Market Research, the Global Plant-Based Meat Market is Expected to be worth US$13,035.6 Mn by 2026, Registering a whopping CAGR of 18.9% Between the Forecast Years of 2021 and 2026.”
Fairfield Market Research recently released a report in one of its most attractive research domains. The report provides complete growth forecast, and analysis of global plant-based meat market, clearly highlighting solid popularity of plant-based meat product varieties among consumers worldwide. While food industry continues to be significantly influenced by trends like gluten-free, sugar-free, vegetarianism, veganism, and cruelty-free, that of plant-based products is likely to impact the dynamics of the meat analogue segment. An expanding vegan population and growing number of individuals showing preference for plant-based, and cruelty-free food and beverage products are expected to drive the growth of plant-based meat market.
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Expansion of Retail Provides a Fertile Ground to Plant-based Meat and Meat Products
With evolving consumer choices and the consequent trend waves created in F&B industry, brands continue to develop their competition strategies. In the light of exploding progress of retail world, a number of speciality brands are likely to be concentrating on strengthening their positioning in retail industry. As retail has been recently offering a large room to speciality product ranges that align with real-time consumer preferences, brands in categories like plant-based meat perceive retail as the most impactful, and profitable means of extending their product outreach. Leaders in retail like Nature’s Basket, and even OmniPork have been playing out as the trailblazers in plant-based meat and meat products categories at retail stores and chains.
On the other hand, foodservice industry is also gradually embracing the plant-based meat analogues trend, thereby pushing plant-based meat market growth. Subway, and Dominos have already included the same on their menus, and several others in industry are likely to follow the suit.
Pea Protein Bestseller, Europe Retains the Top Spot
Pea protein, being a versatile and clean-label protein source available on the market, is likely to remain the top selling product category in plant-based meat market. The report says that consumers will continue to favour pea protein as it closely matches the texture and mouthfeel of conventional meat and is widely available.
Regional analysis reveals that Europe has been witnessing an unprecedented growth in its vegan population over the recent past. The boom around plant-based trend has also been building up rapidly. The market here is projected to remain dominance and majorly benefit from the strong strategic presence of some of the largest brands active in the meat analogue segment.
Competition Landscape – Global Plant-based Meat Market
Fairfield Market Research report on global plant-based meat market has a dedicated section for competition landscape analysis that intends to uncover some exclusive insights to help potential market participants understand the marsket better. While the plant-based meat landscape continues to witness entry of newer competitors on a frequent basis, the report has some of the most prominent ones profiled here, including Beyond Meat, Inc., OmniFoods, Conagra, Inc., Impossible Foods Inc., Maple Leaf Foods Inc., Kellogg's Company, Hormel Foods Corporation, VBites Food Limited, JBS SA, and Sunfed.
The Global Plant-Based Meat Market is Segmented as Below:
By Source Coverage
Soy
Wheat
Pea
Others
By Meat Type Coverage
Beef
Chicken
Pork
Fish
By Sales Channel Coverage
Supermarket/ Hypermarket
Convenience Stores
Online
Specialty Stores
By Geographical Coverage
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Leading Companies
Beyond Meat, Inc
Impossible Foods Inc
Conagra, Inc.
OmniFoods
Kellogg's Company
Maple Leaf Foods Inc
VBites Food Limited
Sunfed
JBS SA
Hormel Foods Corporation
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Plant-based Meat Market to See Booming Growth | Atlantic Natural Foods, Morningstar Farms, Impossible Foods, Quorn Foods
Advance Market Analytics published a new research publication on “Global Plant-based Meat Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the study, you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market-associated stakeholders. The growth of the Plant-based Meat market was mainly driven by the increasing R&D spending across the world.
Major players profiled in the study are:
Impossible Foods (United States), Morningstar Farms (United States), Pinnacle Foods (United States), Beyond Meat (United States), Atlantic Natural Foods (United States), Amy’s Kitchen (United States), Garden Protein International (United States), the Vegetarian Butcher (Netherlands) , Quorn Foods (United Kingdom), Sunfed (New Zealand)
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Scope of the Report of Plant-based Meat
Plant-based meat refers to food made from non-meats or sometimes without any other animal product but acts as a meat substitute and has the same amount of protein content. This is specially designed and created to look like, taste like, and cook like conventional meat. Many plant-based meat products are soy-based or gluten-based products.
In March 2019, Impossible Foods launched its plant-based meat, with a variety of dishes available at eight restaurants throughout Singapore. The motive behind the launch was to expand its global reach. Additionally, In March 2019, Beyond Meat launched a plant-based ground beef product to meet the rising consumer demands and enhance its plant-based meat product portfolio.
The Global Plant-based Meat Market segments and Market Data Break Down are illuminated below:
by Type (Pork, Beef, Chicken, Fish, Others), Source Type (Soy, Wheat, Pea, Others (Quinoa, Beans, Oats, Nuts and Seeds)), Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others), Process (Grinding, Mixing, Blending, Forming/Shaping, Freezing Systems, Storage), End User (Retail, Industrial)
Market Opportunities:
Shift Towards Vegetarian or Organic Diet
Market Drivers:
Rising Vegan and Flexitarian Population across the World
Rising Incidence of Health Disorders Boost Health and Fitness Consciousness Among Consumers
Growing Awareness about the Health Benefits of Plants Based Meat over Animal Meat
Market Trend:
Substitution of Lupines with Soybeans in Tempeh Production
What can be explored with the Plant-based Meat Market Study?
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Plant-based Meat Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Plant-based Meat
Understand the Competitive Scenarios
Track Right Markets
Identify the Right Verticals
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Plant-based Meat Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Plant-based Meat market
Chapter 2: Exclusive Summary – the basic information of the Plant-based Meat Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Plant-based Meat
Chapter 4: Presenting the Plant-based Meat Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2016-2021
Chapter 6: Evaluating the leading manufacturers of the Plant-based Meat market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2022-2027)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, Plant-based Meat Market is a valuable source of guidance for individuals and companies.
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KEY POINTS
Cargill, the largest privately held company in the U.S. with $165 billion in 2022 revenue, is investing for the long game in plant-based food and a world which it forecasts will need 70% more protein over the next three decades.
The agribusiness giant got into the market later than buzzy startups including Beyond Meat and Impossible Foods, as well as traditional rivals Tyson Foods, Hormel Foods and Smithfield Foods, but it is growing its alternative-protein portfolio including lab-grown beef, chicken and fish made from animal cells.
The plant-based protein boom has stalled, with buzzy startups humbled and food giants retreating, but Cargill forecasts 70% more protein consumption over the next 25 to 30 years. "That protein has to come from somewhere," says its chief technology officer and head of R&D, Florian Schattenmann.
The plant-based protein boom has stalled, with buzzy startups humbled and food giants retreating, but Cargill forecasts 70% more protein consumption over the next 25 to 30 years. “That protein has to come from somewhere,” says its chief technology officer and head of R&D, Florian Schattenmann.
Cargill
Cargill is hardly a household name among consumers — even though it’s the largest privately held company in the U.S., with $165 billion in revenue in its fiscal year 2022. The 158-year-old Minneapolis-based agribusiness giant produces a slew of branded and private-label meats and food ingredients and offers a wide range of agriculture-related products and services.
In the last few years, flying somewhat under the public radar, Cargill has also become a formidable player in the plant-based meat industry, which has come back down to Earth after its meteoric rise about a decade ago, when venture-capital-backed disruptors Beyond Meat
and Impossible Foods came on like gangbusters. Traditional meat companies, including Tyson Foods, Hormel Foods and Chinese-owned Smithfield Foods, jumped on the bandwagon, and the marketplace was soon flooded with faux beef, chicken and sausage.
Strategically, Cargill joined later in the game, and is now positioning itself to win the food fight that its competitors started.
In February 2020, almost a year after Beyond Meat’s IPO, Cargill introduced private-label plant-based patties and ground products for global retail and foodservice markets. Later that year, the company came out with a branded line — called Crave House, featuring plant-based burgers, ground, meatballs and sausages — for those same markets, as well as e-commerce channels. Additionally, Cargill began marketing several plant-based protein ingredients, made from soy, pea and wheat, to food and beverage manufacturers worldwide.
“We are a unique player,” said Florian Schattenmann, Cargill’s chief technology officer and head of research and development. “We have everything from the ingredients to the final meat-processing and distribution, and don’t play in fancy brands. That’s our strategy. I wouldn’t say it’s tempered, but deliberate and thoughtful, knowing where our strengths are and not overbuilding in watching the market.”
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Embracing Green Delights: The Rise of Plant-Based Bakery Products Market
Introduction:
In recent years, a significant shift towards healthier and more sustainable eating habits has led to the rise of plant-based diets. This trend is not only transforming the way we eat but also reshaping the bakery market. Plant-based bakery products, once considered niche, are now gaining widespread popularity among consumers seeking healthier, cruelty-free, and environmentally sustainable options.
In this article, we delve into the growing trend of plant-based bakery products, exploring their rise, benefits, and impact on the bakery market.
According to Next Move Strategy Consulting, the global Bakery Market is predicted to reach USD 557.59 billion by 2030 at a CAGR of 4.8% from 2024 to 2030.
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Understanding Plant-Based Bakery Products: Plant-based bakery products refer to baked goods that are free from animal-derived ingredients such as eggs, dairy, and honey. Instead, they rely on plant-based alternatives like fruits, vegetables, nuts, seeds, and plant-based milk and butter substitutes. These products offer a compassionate and sustainable alternative to traditional bakery items while catering to the growing demand for cruelty-free and eco-friendly options.
2. Rising Consumer Demand: The increasing awareness of the health benefits associated with plant-based diets, coupled with concerns about animal welfare and environmental sustainability, has fueled the demand for plant-based bakery products. Consumers are seeking out these products as healthier alternatives that align with their values and dietary preferences. Additionally, the rise of flexitarianism, where individuals are reducing their meat and dairy consumption without fully adopting a vegan or vegetarian diet, has further contributed to the popularity of plant-based bakery options.
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3.Health Benefits of Plant-Based Bakery Products: Plant-based bakery products offer a plethora of health benefits compared to their traditional counterparts. They are often lower in saturated fat and cholesterol, making them heart-healthier options. Additionally, they are rich in fiber, vitamins, minerals, and antioxidants, contributing to better digestive health, improved immunity, and overall well-being. For individuals with dietary restrictions or allergies, such as lactose intolerance or egg allergies, plant-based bakery products provide safe and delicious alternatives.
4.Environmental Sustainability: One of the most significant advantages of plant-based bakery products is their positive impact on the environment. Plant-based ingredients require fewer natural resources, such as water and land, compared to animal-derived ingredients. Additionally, plant-based agriculture has been shown to produce fewer greenhouse gas emissions and have a lower carbon footprint, making it a more sustainable choice. By opting for plant-based bakery products, consumers can reduce their environmental impact and contribute to a more sustainable food system.
Geographical Analysis:
Europe currently holds the dominant bakery market. It is expected to maintain its dominance during the forecast period due to factors such as busy lifestyle of individuals and expansion of fast-food businesses that employ middle-class people to make burgers, snacks, and sandwiches. Also, the availability of organic baked items, breakfast cereals, and allergy-free baked products suitable for people suffering from allergies and intolerances boosts the market growth in this region.
5. Diverse Range of Offerings: The growing demand for plant-based bakery products has led to a surge in innovation and creativity within the bakery market. Today, consumers can find a diverse range of plant-based options, including bread, cakes, pastries, cookies, muffins, and more. These products come in various flavors, textures, and formats, offering something for every palate and occasion. From decadent chocolate cakes made with avocado to flaky croissants crafted with plant-based butter, the options are endless.
6. Market Expansion and Opportunities: The increasing popularity of plant-based bakery products presents significant opportunities for bakery businesses. Bakeries that embrace this trend and offer plant-based options alongside their traditional offerings can attract a broader customer base and stay competitive in the market. Moreover, retailers, cafes, and foodservice establishments can differentiate themselves by incorporating plant-based bakery products into their menus, catering to the growing demand for plant-based options among consumers.
7. Challenges and Considerations: Despite the numerous benefits, there are challenges associated with formulating and producing plant-based bakery products. Achieving the desired taste, texture, and consistency without the use of traditional animal-derived ingredients can be challenging for manufacturers. Additionally, sourcing high-quality plant-based ingredients at an affordable price can pose logistical challenges. However, with advancements in ingredient technology and increased consumer demand, these challenges are being addressed, paving the way for more innovative and delicious plant-based bakery offerings.
8. Education and Consumer Awareness: One of the ongoing challenges in the plant-based bakery market is the need for consumer education and awareness. Many consumers may be unfamiliar with plant-based ingredients and their benefits, leading to hesitation or resistance to try plant-based bakery products. Therefore, educating consumers about the health, environmental, and ethical advantages of plant-based eating is essential for driving acceptance and adoption. Food manufacturers and retailers can play a crucial role in this by providing clear labeling, informative packaging, and educational resources to help consumers make informed choices.
9. Regulatory Compliance and Labeling Standards: Another consideration for manufacturers of plant-based bakery products is ensuring compliance with regulatory requirements and labeling standards. As the market for plant-based foods continues to grow, regulatory bodies may introduce new guidelines and standards specific to plant-based products. Manufacturers must stay informed about these regulations and ensure that their products meet all labeling requirements, including ingredient lists, nutritional information, and allergen declarations. Clear and accurate labeling instills trust and confidence in consumers and helps them make informed purchasing decisions.
Competitive Landscape:
The bakery products market comprises various market players such as Bahlsen GmbH & Co. KG, Mmmly Inc., BAB Inc., Nestlé SA, Barilla Holding Societa per Azioni, Bakers Delight, Britannia Industries Ltd., Bruegger’s Enterprises Inc., Flowers Foods Inc., and Kellogg Company. These market players are adopting various strategies, such as product innovation and partnerships across various regions, to maintain their dominance in the bakery market.
Conclusion:
The rise of plant-based bakery products reflects a broader shift towards healthier, more sustainable, and compassionate eating habits. As consumers become increasingly conscious of the health, environmental, and ethical implications of their food choices, the demand for plant-based options is expected to continue growing. Bakeries and food manufacturers that embrace this trend and innovate with plant-based ingredients stand to benefit from a burgeoning market hungry for delicious, guilt-free treats that nourish both the body and the planet.
#bakery market#baking innovations#food and beverages#plant-based bakery products#market research#market insights
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ANTICIPATED WORTH OF TEXTURED VEGETABLE PROTEINS MARKET: $5.07 B
Meticulous Research®—a leading global market research company, published a research report titled, ‘Textured Vegetable Proteins Market by Type (Soy, Wheat, Pea), Nature (Inorganic, Organic), Form (Chunks, Slices, Flakes, Granules), Application (Meat Alternatives, Snacks Foods, Bakery, Animal Feed) - Global Forecast to 2030.’
The latest publication from Meticulous Research® indicates that the textured vegetable proteins market is poised to achieve a remarkable CAGR of 10.5% from 2023 to 2030, reaching a value of $5.07 billion by 2030. This growth trajectory is fueled by several factors including heightened demand for processed and convenient foods, the surging popularity of meat alternatives, increasing awareness about the health advantages of plant-based proteins, and substantial investments in the plant-based food sector. Additionally, factors such as a growing intolerance for animal proteins and the emergence of economies offer promising growth prospects for vendors in the textured vegetable protein space. Nevertheless, challenges such as the availability of alternative vegetable proteins and fluctuating raw material prices pose constraints on market expansion.
Market Segmentation:
The textured vegetable proteins market is segmented based on product type, nature, form, application, and geography. The report also includes an assessment of industry competitors and analyzes the market at both regional and country levels.
Product Type:
The market is segmented into soy, wheat, pea, and other types, with the soy segment expected to dominate in 2023 due to factors such as widespread adoption and lower production costs. However, the pea segment is anticipated to witness the highest growth rate during the forecast period.
Nature:
Segments include inorganic and organic, with the inorganic segment expected to lead in 2023, while organic textured vegetable proteins are forecasted to exhibit the highest CAGR.
Form:
Segments encompass chunks, slices, flakes, and granules, with the chunks segment projected to hold the largest share in 2023, although flakes are anticipated to experience the highest growth rate owing to their water retention and defatting properties.
Application:
The market is segmented into food & beverage, animal feed, and other applications, with the food & beverage segment expected to dominate in 2023 and exhibit the highest growth rate throughout the forecast period.
Geography:
North America is projected to lead the market in 2023, attributed to a well-established food and beverage industry and increasing preference for meat alternatives. However, Asia-Pacific is anticipated to register the highest CAGR, driven by a large vegetarian population and advancements in the food & beverages sector.
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Key Players:
The textured vegetable proteins market features moderate competition, with numerous global, regional, and local players. Some of the key players in this market include Cargill, Incorporated (U.S.), Rouquette Frères (France), Archer-Daniels-Midland Company (U.S.), Ingredion Incorporated (U.S.), International Flavors & Fragrances Inc. (U.S.), Beneo GmbH (Germany), Sotexpro (France), CHS Inc. (U.S.), Farbest Brands (U.S.), Axiom Foods Inc. (U.S.), Puris Foods (U.S.), and FoodChem International Corporation (China).
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Rice Protein Market Forecasted to Expand Rapidly, Projecting US$ 1.15 Billion Value by 2033, with 3.9% CAGR
From 2023 to 2033, the amount of rice protein Market worldwide is expected to rise at a CAGR of 3.9%. By the end of 2033, the worldwide rice protein market, currently valued at US$ 780 million, is expected to have grown to US$ 1.15 billion.
Because of its improved quality and effective mixing qualities, there is a growing need for protein from dry rice. Dry rice protein extracts are mostly used in pasta and grain products, drinks and bases, and baked goods and baking mixes.
Key pioneers of the market are launching new variants of rice proteins:
Consumers in the market are looking for ways to adopt a healthy lifestyle, key food companies are capitalizing this aspect by offering new variants with better health claims in the market.
In June 2022, Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins, announced the launch of 2 rice proteins. This way, company has added a new botanical origin to its portfolio.
Food tech startup, Novolutions had launched plant-based food brands which offers a variety of plant-based meat snacks. The company is expected to focus on innovative dishes under plant-based food category.
Another example is Max&Bien, a start-up based in Amsterdam offers plant-based cheese products with good textures and natural flavors. Moreover, the company has been using traditional methods of almonds, oats, and rice to offer cheese substitutes. Company is offering plant-based substitutes for the consumers to easily choose vegan options.
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Drivers:
Surge in demand for plant-based protein in sports and energy supplements market is expected to boost the adoption of rice protein. Also, rice protein is highly preferred as it is hypoallergenic, and thus is likely to cause any allergies.
Moreover, increasing global demand for plant protein and increase in vegan population are the factors contributing to the growth of rice protein market. Rice protein has gained popularity as consumers are inclined towards gluten-free and high-protein food products. In addition to this, rising health-consciousness among consumers has led to surge in demand for healthy, nutrition-rich and protein-rich diet.
Besides this, surge in need for gluten-free products is expected to boost the adoption of rice protein in bakery and confectionery applications. High inclusion of rice protein in baking mixes is acting as a growth driver for the rice protein market.
The use of plant protein in edible films, flavor enhancers, as well as meat analogs is one more factor boosting the growth of the rice protein market.
Competitive Landscape
Leading companies are focusing on the introduction of innovative rice protein products, with an increase in functional properties, and leveraging ‘label claims’ such as gluten-free, allergen-free, and dairy free to meet consumer demand.
For instance :
In 2020, The Kerry Group broadened the scope of its plant protein ingredients. Products from the range are extensively used in a variety of food and beverage applications.
Prominent Players
Axiom Foods, Inc.
The Green Labs LLC
RiceBran Technologies
North Coast Naturals
BENEO
Nutrition Resource
Golden Grain Group Limited
NutriBiotic
Z-Company
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Regional Landscape:
Europe occupies a substantial share of rice protein market, accounting for around 50% of the total share. Moreover, various factors such as significant investments in labels compliance with European standards is expected to boost the adoption of the product in the market.
In Europe market, Germany is expected to occupy highest revenue due to presence of leading rice protein producers and surge in fitness trends to join gyms and health clubs. These factors are ultimately boosting the demand of fortified and functional food products.
US market is expected to witness sustainable adoption of the product due to rise in production of rice protein and significant presence of e-commerce companies in the region. Moreover, increased consumer interest in sports and fitness are expected to boost the US market
Rice protein in the APAC region is expected to exhibit impressive growth due to growing functional and fortified food market. Besides this, rice protein market in Latin America is expected to grow at moderate CAGR due to growing demand for fortified foods and beverages.
Key Segments of Rice Protein Industry Research
By Product :
Rice Protein Isolates
Rice Protein Concentrates
Others
By Nature :
Organic
Conventional
By Form :
Dry
Liquid
By Application :
Food & Beverages
Infant Milk Formula
Bakery & Confectionery
Dairy Products
Animal Feed
Others
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
In summary, a number of important reasons are contributing to the notable growth the rice protein market is seeing. The increasing demand for plant-based protein sources has led to the emergence of rice protein as a feasible and sustainable substitute for conventional animal-based proteins. Customers with dietary limitations and health-conscious lives find it intriguing because it is devoid of allergens, gluten, and genetically modified organisms.
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Exploring the Soil Active Herbicides Market Landscape
Overview and Scope
Soil active herbicides also known as weed killers are herbicides that act on seeds, roots, or shoots of undesired plants, also known as weeds. Soil active herbicides are incorporated into the soil to control the growth of weeds and unwanted plants. Herbicides get rid of weeds that will otherwise compete for light, moisture, and nutrients with the crops, affecting the quality and quantity of produce.
Sizing and Forecast
The soil active herbicides market size has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%.
The soil active herbicides market size is expected to see strong growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
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Segmentation & Regional Insights
The soil active herbicides market covered in this report is segmented –
1) By Product Type: Synthetic Herbicides, Bio-Herbicides
2) By Crop: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crops
3) By Application: Pre-Plant, Pre-Emergence, Post-Emergence
Asia-Pacific was the largest region in the soil active herbicides market share in 2023. The regions covered in the soil active herbicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth of the population and changing dietary preferences towards plant-based food are expected to drive the growth of the soil-active herbicides market going forward. The population is increasing due to an imbalance between births and deaths, lack of family planning, migration, and others. Plant-based food refers to food that is completely obtained from plants and has no dairy, or meat products. People in developed and developing countries are getting cautious about their health and maintaining a regular diet that includes plant-based food. The rise in population needs more production of food to feed which increase the use of herbicides and other natural or chemical fertilizer which gives higher yield.
Key Industry Players
Major companies operating in the soil active herbicides market report are Bayer AG, BASF SE, Syngenta AG, DuPont de Nemours, Inc., ADAMA Ltd., Arysta LifeScience, Inc., Nufarm Limited, Nissan Chemical Industries, Ltd., Shandong Binnong Tech Co., Ltd., FMC Corporation, Monsanto Company, UPL Ltd., Bhaskar Agrochemicals Limited, Dhanuka Agritech Limited, Insecticides Limited
The soil active herbicides market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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Plant-based Meat Market Global Trends, and Opportunities Forecast by 2031
Plant-based meat MarketScope & Overview
The market research report assists firms in improving their business goals by allowing them to develop a systematic presence in the globalPlant-based meat Market. It also helps them plan for and forecast their chances of success in a competitive environment. The research investigates the vital sectors and underlying potential in certain industries, as well as the market's problems and international trends.
The research report goes over regional market growth aspects as well as key companies that dominate regional growth. It also stays current on industry developments and advancements. The research looks into the demand and supply side factors that influence the Plant-based meat market, as well as major industry trends in the coming years.
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Market Key Players:
Amy’s Kitchen, Beyond Meat, Garden Protein International, Gold & Green Foods, Greenwise, Impossible Foods, Maple Leaf Foods, Morningstar Farms, Novameat, Omnipork, Quorn Foods, Surfed, The Vegetarian Butcher, Tofurky, V2food, VBites, and Zikooin.
Market Segmentation Analysis
A current market research provides an in-depth analysis of the most essential industry variables. The market's growth possibilities are obtained with utmost precision after completing extensive research on the historical and present growth characteristics of the Plant-based meat market. It investigates and forecasts the worldwide market in a number of key areas. By segmenting the market by application, end-user, and geography, the report provides a comprehensive view of the industry.
By Source:
Soy
Pea
Wheat
By Product:
Burgers
Sausages
Patties
Nuggets, Tenders & Cutlets
Grounds
By Type:
Chicken
Pork
Beef
Fish
By End-user:
Retail
HORECA (Hotel/Restaurant/Café)
By Storage:
Refrigerated Plant-based Meat
Frozen Plant-based Meat
Shelf-stable Plant-based Meat
Russia-Ukraine Conflict Impact Analysis
The market research report explores whether the ongoing war between Russia and Ukraine has had any discernible impact on the worldwide Plant-based meat market, as well as the specifics of the impact made in several global regional markets.
Regional Outlook
After considering political, economic, social, and technological variables affecting the Plant-based meat market in all regions, the research offers a complete PEST analysis for all regions, including North America, Europe, APAC, Latin America, and the Middle East and Africa. Readers can get thorough information about numerous elements influencing market growth, such as pricing analyses and regional trends.
Competitive Analysis
The market research report discusses key advancements in the industry as well as organic and inorganic growth strategies. This section discusses the macroeconomic variables influencing the growth of the Plant-based meat market, as well as the influence of these macroeconomic indicators on the market.
Key Reasons to Purchase Plant-based meatMarket Report
The market executive summary contains the market's own wheel of fortune, demand-side and supply-side trends, potential evaluation, and global market recommendations.
Readers can find extensive market segmentation and definitions, which will help them comprehend fundamental information about the market.
Conclusion
The Plant-based meat market report discusses the factors influencing the growth of the market. The opportunities and current trends in the target market are also thoroughly addressed in the research report.
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Plant-based Meat Market Will Hit Big Revenues In Future
The global plant-based meat market is estimated to be valued at USD 7.9 billion in 2022. It is projected to reach USD 15.7 billion by 2027, with a CAGR of 14.7%, in terms of value between 2022 and 2027. There is a growth in the vegan and flexitarian population, a rise in awareness about the health benefits of plant-based meat over animal-based meat products, an increase in investment by government bodies and R&D activities, and investment of the major food industry giants in plant-based meat products. These factors together are propelling the plant-based meat market.
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By product, the strips & nuggets segment is projected to occupy the second-largest market share during the forecast period
By product, the strips & nuggets segment is projected to occupy the second-largest market share in terms of value by 2027 in the plant-based meat market. The demand for strips & nuggets is on the rise because of their taste appeal and consumer popularity, particularly in American and European countries. Thus, due to their rising popularity, several companies are focusing on expanding their product portfolios by incorporating other strips & nuggets made from chickpeas, wheat, soy, corn, rice, and oats. All these factors together are projected to contribute to the market share of this product category by 2027.
The food retail segment among distribution channels is estimated to have the largest market
Based on the distribution channel, the food retail segment is estimated to account for the largest share of the plant-based meat market in 2022. Food retail refers to operating retail, supermarkets, hypermarket stores, and other stores where various products, such as grocery items, vegetables, uncooked meat, and frozen products, are made available to consumers. The distribution channel is already popular among consumers worldwide due to the wide availability of various products. Therefore, this distribution channel is being used by established plant-based meat companies and startups to increase the penetration of their products in the market, making it the largest segment during the forecast period in the plant-based meat market.
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Europe region holds the largest share in the plant-based meat market
The European plant-based meat market accounted for the largest market share in 2020. This dominance is attributed to the rising health concerns among consumers regarding meat products and the exponentially growing veganism trend in the region. Furthermore, European plant-based meat manufacturers focus on developing innovative products backed by appropriate research and development facilities available in the region. Several European retailers and supermarkets have added plant-based meat products to their product range to cater to the rising demand for plant-based meat products across the region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Beyond Meat (US), Kellogg Company (US), Impossible Foods Inc. (US), Maple Leaf Foods (Canada), Unilever (UK), Conagra Foods (US), Tofurky (US), Gold&Green Foods Ltd (Finland), Sunfed (New Zealand), and Monde Nissin (Philippines).a
#Plant-based Meat Market#Plant-based Meat#Plant-based Meat Market Size#Plant-based Meat Market Share#Plant-based Meat Market Growth#Plant-based Meat Market Trends#Plant-based Meat Market Forecast#Plant-based Meat Market Analysis#Plant-based Meat Market Research Report#Plant-based Meat Market Scope#Plant-based Meat Market Overview#Plant-based Meat Market Outlook
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Plant-Based Meat Market Registering a CAGR of 18.9% During the Forecast Period 2021-2026
Expanding at an impressive rate of around 18.9% between 2021 and 2026, worldwide demand for plant-based meat products is likely to account for the revenue of over US$13 Mn. A new Fairfield Market Research study indicates that the growth of plant-based meat market will remain influenced by the exploding popularity of vegan, plant-based, gluten-free, and cruelty-from trends among consumers worldwide.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/plant-based-meat-market
Pea Protein Remains the Leading Segment
An increasing number of products that closely match the conventional meat texture, and mouthfeel are being launched on the market over the recent past. This according to the report is one of the strongest indications of the market potentially attracting a large pool of conventional meat consumers. The highly versatile clean label protein product, i.e., pea protein will continue to be the most sought-after segment in plant-based meat market, projects the report.
Sales Proliferate as Plant-based Penetrates Foodservice, and Retail
Several speciality brands have been strengthening their foothold in retail world by extending their outreach with an intent to enhance product availability. Retail behemoths like OmniPork, and Nature’s Basket include some of the pioneering retailers making a larger room for plant-based meats and meat products. The foodservice industry is also showcasing growing interest around plant-based meat products. Considering the shifting consumer behaviour in favour of plant-based meat varieties, more foodservice facilities are making it a point to include the same on their menus. Dominos, and Subway have been a few trailblazers, research identifies.
European Consumer Retains the Top Spot in Fake Meat Consumption
Led by the UK, Europe will continue to reign supreme in terms of consumption of plant-based meat products. The market here is expected to benefit majorly from the expanding vegan population, and strong profiles of plant-based meat manufacturing brands. Given the boom around plant-based meats growing at a rapid pace, even the largest retail chains have been dedicating entire sections to these meat products, which will remain a significant boost for market growth.
Key Companies in Global Plant-based Meat Market
The report has a section dedicated to competition analysis that sheds light on the financial, and strategic profiling of some of the prominent players competing in plant-based meat landscape. Some of the top companies include Beyond Meat, Inc, Conagra, Inc., OmniFoods, Impossible Foods Inc, Kellogg's Company, VBites Food Limited, Maple Leaf Foods Inc, Hormel Foods Corporation, Sunfed, and JBS SA.
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Meticulous Research®, a renowned global market research firm, released a study called ‘Pet Food Ingredients Market by Type (Meat & Poultry, Fish, Maize, Wheat, Additives, Novel Ingredients), Application (Pet Meals {Dry Meal}, Pet Treats, Pet Snacks, Veterinary Diet), Pet Type (Dog, Cat, Birds, Ornamental Fish) - Global Forecast to 2031’.
Based on Meticulous Research’s recent report, the pet food ingredients market is anticipated to achieve a value of $73.30 billion by 2031, with a compound annual growth rate (CAGR) of 8.5% spanning from 2024 to 2031. The market's expansion is fuelled by factors such as the escalating pet population, higher spending on pet food, increased demand for premium pet nutrition, and a growing emphasis on pet health and well-being. Nevertheless, regulatory constraints and fluctuating prices of raw materials pose challenges to the market's growth.
Moreover, the rise in novel pet food ingredient options and the expanding embrace of these alternatives, along with the emergence of direct-to-consumer (D2C) brands and startups within the pet food sector, are poised to offer lucrative prospects for stakeholders involved in this market. Nonetheless, the significant hurdle of counterfeit products poses a considerable challenge to the market's advancement.
Additionally, there is a notable trend of increasing demand for personalized pet food within the pet food ingredients market.
Key Players
The competition in the pet food ingredients market is moderate, attributed to the participation of numerous large and small-scale players on a global, regional, and local scale. Key participants in this market includes BASF SE (Germany), Darling Ingredients Inc. (U.S.), Cargill, Incorporated (U.S.), Kemin Industries, Inc. (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Roquette Frères (France), Protix B.V. (Netherlands), Duynie Ingredients (Netherlands), Chr. Hansen Holding A/S (Denmark), Omega Protein Corporation (U.S.), DSM-Firmenich AG (Switzerland), KAGOME Australia Pty Ltd (Australia), Symrise AG (Germany), IQI b.v. (Netherlands).
Based on type, the pet food ingredients market is categorized based on various factors including type, application, pet type, and geography. These segments include animal-based ingredients such as meat & poultry and fish, plant-based ingredients like cereals & grains (such as corn/maize, wheat, rice, and other cereals & grains), oilseeds & pulses, fruits & vegetables (including carrot residue and other fruits & vegetables), as well as additives and novel ingredients. Applications encompass pet meals (both dry and wet), treats & snacks, veterinary diets, and other uses. Pet types considered are dogs, cats, birds, ornamental fish, and other pet animals. Geographically, the market is divided into North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa. Additionally, the report examines industry competitors and provides analysis at regional and country levels.
Based on type, the global pet food ingredients market is segmented into animal-based ingredients, plant-based ingredients, additives, and novel ingredients. In 2024, the animal-based ingredients segment is expected to account for the largest share of the global pet food ingredients, mainly due to the widespread adoption of animal by-products in pet food manufacturing, considering their high protein content, balanced amino acid profiles, better digestibility, and palatability.
Based on application, the global pet food ingredients market is divided into segments including pet meals, treats & snacks, veterinary diets, and other applications. By 2024, it is projected that the pet meals segment will hold the largest portion of the market. This is primarily driven by the rising demand for convenient and nutritionally balanced pet meals that cater to specific dietary requirements. Factors such as cost-effectiveness, ease of storage, and high energy content further contribute to the popularity of pet meals. Additionally, increased expenditure on premium pet meals and the growing preference for customized options bolster the segment's dominance. Within the pet meals application, segmentation includes both dry and wet meals.
Based on pet type, the global pet food ingredients market is categorized into segments consisting of dogs, cats, birds, ornamental fish, and other pet animals. By 2024, it is anticipated that the dogs’ segment will hold the largest portion of the global market. This is primarily attributed to a rise in dog adoptions, heightened demand for top-quality dog food items, and an increasing recognition of the nutritional advantages offered by dog foods. Furthermore, ongoing advancements in pet food manufacturing techniques and escalating investments in dog food ingredients are bolstering the expansion of this segment.
Geographic Review
This research report conducts thorough analyses of major geographical regions, including North America (covering the U.S. and Canada), Europe (encompassing Germany, France, the U.K., Spain, Poland, Italy, and the rest of Europe), Asia-Pacific (including China, Japan, Australia, India, and the rest of Asia-Pacific), Latin America (covering Brazil, Mexico, Argentina, and the rest of Latin America), and the Middle East & Africa. By 2024, North America is predicted to dominate the pet food ingredients market, primarily driven by the increasing number of millennials becoming pet owners in the region, heightened attention to pet health and diets, and the presence of major pet food manufacturers.
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What is the expected growth rate of global demand for pet food ingredients over the upcoming 5 to 7 years?
What were the past dimensions of the market for pet food ingredients, and what is its growth rate?
What are the primary factors influencing the expansion of this market on both a global and regional scale?
What significant opportunities exist for both established participants and newcomers in this market?
Which segments within types, applications, and pet types are notably attracting manufacturers' attention in this market?
What are the main geographical patterns observed in this market? Which regions or countries are anticipated to provide substantial growth prospects for manufacturers involved in the pet food ingredients market?
Who are the key players in the pet food ingredients market, and what specific products do they offer within this market?
What are the latest significant advancements in the pet food ingredients market? How have these strategic developments influenced the market?
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#Pet Food Ingredients Market#Pet Food Additive#Pet Feed#Pet Food Industry#Dog Food Ingredients#Companion Animal Nutrition
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Canned Lamb Market Region Wise Analysis for Industry Players | Product Types, Applications, End User Scope by 2030
"The market research Canned Lamb offers market 2024-2030 sizing and predictions in seven main currencies: USD, EUR, JPY, GBP, AUD, CAD, and CHF. The availability of different currencies facilitates informed decision-making for organization executives. The years 2019 through 2022 are regarded as historical years in this report, while 2023 serves as the base year, 2024 is the expected year, and the years 2024 through 2030 are regarded as the forecast period.
Global Canned Lamb Market: Manufacturers
The Caledonian Kitchen, Evanger, Fromm, Tuffy's, Stahly, AlexMeat, WholeHearted, KURGAN MEAT-PROCESSING PLANT STANDART LLC
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The Global Canned Lamb Market Assessment Requires the Use of the FPNV Positioning Matrix. By looking at important variables related to Product Satisfaction and Business Strategy, it offers a thorough assessment of suppliers and empowers consumers to make selections based on their own requirements. Then, using a sophisticated analysis, these vendors are grouped into four different quadrants, Forefront (F), Pathfinder (P), Niche (N), and Vital (V), which correspond to different success levels.
An informative look at the current situation of vendors in a specific market space can be found in the Canned Lamb Market Share Analysis. We can help firms better evaluate their performance and their competition when vying for market share by analyzing vendor contributions to overall revenue, client base, and other critical indicators. Additionally, the Canned Lamb analysis clarifies the degree of competition in each sector with regard to accumulation, fragmentation domination, and amalgamation features during the base year period under investigation.
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The following advice is revealed in the Canned Lamb market report:
Market Penetration: Gives thorough details on the Canned Lamb market that the major companies are offering.
Market Development: Offers comprehensive details regarding profitable developing markets and examines market penetration across established market sectors.
Market diversification: Offers comprehensive data on investments, unexplored regions, new product launches, and recent advancements.
Market Trends: Offers a thorough grasp of the Russia-Ukraine Conflict, the High Inflation, and the Cumulative Effect of COVID-19
Competitive Assessment & Intelligence: Offers a thorough evaluation of the top companies' market shares, business plans, goods, certifications, regulatory approvals, patent portfolios, and manufacturing capacities.
Product Development & Innovation: Offers perceptive perspectives on upcoming technologies, research and development endeavors, and innovative product innovations.
Global Market: Type
Fresh
Frozen
Global Market: Application
Supermarkets and Hypermarkets
Convenience Stores
Online Retailers
Others
Highlights of the Canned Lamb Market analysis:
With 2023 serving as the base year, this research offers a thorough analysis of the Canned Lamb market as well as market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2030).
It presents appealing investment proposition matrices for this market and clarifies possible revenue prospects across several segments.
Important information is also provided by this report regarding market trends, regional outlooks, opportunities, opportunities, constraints, and competitive strategies used by major competitors, as well as new product launches or approvals.
Based on the following criteria—company overview, financial performance, product portfolio, market presence, distribution tactics, significant advancements, strategies, and future plans—it profiles major participants in the Canned Lamb market.
Marketers and the companies' management authorities would be able to make well-informed decisions about their future product launches, type upgrades, market expansion, and marketing strategies with the use of the insights from this study.
Various industry stakeholders, such as investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts, are served by the Canned Lamb market study.
With the usage of numerous strategy matrices for examining the Canned Lamb market, stakeholders would find it easier to make decisions.
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The report provides answers to queries like:
What are the Global Canned Lamb Market's size and forecast?
What are the COVID-19-related barriers and how will they affect the global Canned Lamb market throughout the projected period?
Which Global Canned Lamb Market goods, sectors, applications, and areas should investors focus on during the forecast period?
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What are the global Canned Lamb market's regulatory frameworks and technological trends?
What percentage of the global Canned Lamb market do the top vendors hold?
Which approaches and tactical maneuvers are deemed appropriate for breaking into the global Canned Lamb market?"
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Faba Bean Protein Market Supply Demand Scenario, and Forecast Research Report 2024-2032
The Reports and Insights, a leading market research company, has recently releases report titled “Faba Bean Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Faba Bean Protein Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Faba Bean Protein Market?
The global faba bean protein market size was US$ 5.8 Billion in 2022. Global market revenue is expected to register a revenue CAGR of 5.1% during the forecast period and reach a market size of US$ 9.1Bn in 2031.
What are Faba Bean Protein?
Faba bean protein is a plant-based protein sourced from faba beans, also known as broad beans. It is highly regarded for its quality, containing all essential amino acids crucial for human health. Faba bean protein is prized for its nutritional value, being low in fat and high in fiber, making it a popular option for those following vegetarian or vegan diets. Its versatility is showcased in various food products, including plant-based meat alternatives, protein supplements, and baked goods, where it enhances texture and serves as a complete protein source. Moreover, faba bean protein is recognized for its sustainability, as faba beans require less water and result in fewer greenhouse gas emissions compared to animal-derived proteins.
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What are the growth prospects and trends in the Faba Bean Protein industry?
Faba bean protein market growth is driven by various factors. The market for Faba Bean Protein is witnessing significant growth, fueled by the increasing consumer preference for plant-based protein sources. Faba bean protein's appeal lies in its nutritional richness, serving as a complete protein containing essential amino acids, which resonates with health-conscious consumers and those embracing vegetarian or vegan lifestyles. Its incorporation into a variety of food items, including meat substitutes, protein bars, and dairy alternatives, is expanding as manufacturers seek sustainable and allergen-friendly protein options. The market's upward trajectory is further propelled by growing awareness of environmental sustainability and the advantages of plant-based diets. However, challenges such as optimizing taste and maintaining cost competitiveness relative to animal-based proteins could impede market expansion to some extent. Hence, all these factors contribute to faba bean protein market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Product Type:
Concentrates
Isolates
Form:
Powder
Liquid
Application:
Food & Beverages
Nutritional Supplements
Animal Feed
End-User:
Retail
Food Service
Industrial
Distribution Channel:
Direct Sales
Online Retail
Specialty Stores
Hypermarkets/Supermarkets
Others
Segmentation By Region:
North America:
United States
Canada
Europe:
Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX
NORDIC
Rest of Europe
Asia Pacific:
China
Japan
India
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Argentina
Middle East & Africa:
Saudi Arabia
South Africa
United Arab Emirates
Israel
Who are the key players operating in the industry?
The report covers the major market players including:
Roquette Frères
Axiom Foods
Burcon NutraScience Corporation
AGT Food and Ingredients
Emsland Group
Cargill, Incorporated
Ingredion Incorporated
Cosucra Group Warcoing SA
Parabel USA Inc.
Nutriati, Inc.
Farbest Brands
Verdient Foods Inc.
Plantible Foods Inc.
Shandong Jianyuan Group Co., Ltd.
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PROJECTION: YELLOW PEA PROTEIN MARKET SET TO HIT $1.09 BILLION
Meticulous Research®—leading global market research company published a research report titled, 'Yellow Pea Protein Market by Type (Pea Protein Isolate, Pea Protein Concentrate, Pea Flour), Source Process (Conventional, Organic), Processing Method (Dry, Wet), Application (Nutritional Supplements, Meat Alternatives)—Global Forecast to 2029.'
The latest report from Meticulous Research® predicts that the yellow pea protein market will reach $1.09 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 15.8% from 2022 to 2029. This growth is primarily driven by the increasing interest in plant-based nutrition, growing health and wellness trends, expansion of the plant-based food market, heightened consumer awareness regarding the nutritional benefits of pea-based products, and ongoing innovation in pea protein ingredients.
The market presents promising opportunities in emerging markets, coupled with a rise in the launch of pea protein-based products, which are expected to enhance growth prospects for market participants. However, challenges such as the significant preference for animal-based protein sources remain notable hurdles.
Market Segmentation:
The yellow pea protein market is segmented based on type, source process, processing method, form, application, and geography. The study also includes an evaluation of industry competitors and an analysis of the market at regional and country levels.
Type-wise segmentation includes yellow pea protein isolate, yellow pea protein concentrate, yellow textured pea protein, yellow pea protein hydrolysate, yellow pea flour, and other yellow pea proteins. In 2022, the yellow pea protein isolate segment is poised to dominate the market due to its high protein content, excellent emulsification, and stability properties. It is projected to maintain the highest CAGR during the forecast period due to its versatile applications.
Source process segmentation comprises conventional yellow pea protein and organic yellow pea protein. While conventional yellow pea protein is expected to hold the largest market share in 2022, organic yellow pea protein is anticipated to witness the highest CAGR owing to increasing demand for organic products and the rising trend of clean label items.
Processing method segmentation includes dry processing and wet processing. Dry processing is estimated to lead the market in 2022 due to its lower capital and resource consumption compared to wet extraction. Conversely, wet processing is forecasted to exhibit the highest CAGR, driven by its ability to deliver higher purity.
Form-wise segmentation consists of powder and liquid, with powder dominating the market in 2022 due to its ease of handling, cost-effectiveness, and minimal formulation errors. However, the liquid segment is projected to witness the highest CAGR during the forecast period, driven by increasing demand in the dairy alternative sector and innovative product applications.
Application-wise segmentation encompasses various sectors such as nutrition and health supplements, meat and alternative meat products, bakery products, dairy and dairy alternatives, cereals and snacks, beverages, pet food, and others. While nutrition and health supplements are expected to dominate the market in 2022, the meat and alternative meat products segment is forecasted to experience the highest CAGR, driven by the growing vegan population and concerns over meat-borne diseases.
Geographically, North America is anticipated to hold the largest market share in 2022, driven by a well-established food and beverage industry, sustainability concerns, and a growing preference for meat alternatives. However, Asia-Pacific is poised to register the highest CAGR during the forecast period, fueled by increasing awareness of protein-rich diets, a booming food and beverage industry, and a rising vegan population.
Key Players:
Key players in the yellow pea protein market include Roquette Frères Le Romain, AGT Food and Ingredients Inc., Cargill, Incorporated, Ingredion Incorporated, Archer-Daniels-Midland Company, E.I. Dupont De Nemours and Company, Axiom Foods Inc., Burcon NutraScience Corporation, Glanbia Plc., Cosucra Groupe Warcoing SA, Sotexpro, Farbest Brands, Shandong Jianyuan Foods Co., Ltd., The Emsland Group, and Nutri-Pea Ltd.
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The report also addresses several key questions such as identifying high-growth market segments, historical market size, market forecasts, major drivers and challenges, competitive landscape, recent developments, growth strategies adopted by major players, geographic trends, and the competitive positioning of local emerging players in the global yellow pea protein market.
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