Plant-Based Proteins Market to Reach US$ 23.4 Billion by 2027 Globally |CAGR: 10%

A comprehensive overview of the plant-based protein market is recently added by UnivDatos Market Insights to its humongous database. The plant-based protein market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the plant-based protein market. The plant-based protein market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the plant-based protein market at the global and regional levels. Global Plant-Based Proteins Market is expected to grow at a CAGR of 10% from 2021-2027 to reach USD 23.4 billion by 2027.

Market Overview

Plant-Based Protein Market is experiencing significant growth on account of increasing awareness of health and wellness globally. The growing trend of plant-based protein can be attributed to new product creation, creativity, and technology. The recent rapid and disruptive growth of the plant-based sector has been driven predominantly by the millennial generation and the emergence of ‘flexitarian’ consumers, as well as increased numbers of vegetarians and vegans – as consumers respond to a combination of environmental, health, and ethical concerns.

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According to L.E.K. Consulting’s 2018 consumer food and beverage survey, 93% of consumers said they feel compelled to eat healthy at least some of the time, and 54% of consumers said including more plants in their diet makes them feel healthier. For instance, Right to Protein an awareness programme launched in India during April month of the calendar year, also April is treated as the Soy month worldwide. This initiative would develop an ecosystem that is increasing the awareness regarding the plant-based diet/protein among consumers for better health and quality food.

Covid-19 Impact

The consumption of plant-based protein increased amid COVID-19 due to its high protein content and ability to improve immunity. Further, recent funding has also ushered in the plant-based protein industry. However, the pandemic has thrown a wrench in global distribution channel management and has also influenced the plant-based protein supply chain. An IFIC study found that the pandemic had changed eating habits for 85% of consumers. Besides, a study on purchasing behavior for plant-based proteins, look over the three most important labels in which top choices were "good source of protein (28%)," followed by "natural" (26%) and "organic" (22%).

Plant-Based Protein Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Source, the market is primarily bifurcated into

• Soy
• Wheat
• Pea

Soy segment dominated the by type of the plant-based protein market and will grow and reach US$ X Billion by the year 2027.

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By Type, the market is primarily segmented into

• Isolates
• Concentrates
• Textured

Amongst type, isolates accounted for the largest share and is expected to grow at X% CAGR during the forecast period 2021-2027. In 2020, the isolates segment accounted for a revenue share of almost X%.

By Form, the market is primarily studied into

• Dry
• Liquid

In 2020, the dry segment dominated the plant-based protein market with nearly X% of the market share and it is anticipated by 2027, the segment will garner US$ X Billion of the market.

By Application, the market is primarily studied into

• Food
  • Dairy Alternatives
  • Meat Alternatives
  • Performance Nutrition
• Feed

In 2020, the food segment dominated the plant-based protein market with nearly X% of the market share and it is anticipated by 2027, the segment will garner US$ X Billion of the market.

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Plant-Based Protein Market Geographical Segmentation Includes:

• North America (The United States, Canada, Mexico, and Rest of North America)
• Europe (France, United Kingdom, Germany, Spain, Netherlands, Italy, Belgium, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia-Pacific)
• South America (Brazil, Argentina, and Rest of South America)
• Rest of the World (The Middle East and Africa)

Based on the estimation, the North America region dominated the plant-based protein market with almost US$ X Billion revenue in 2020. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of X% over the forecast period on account of the internet penetration & growing awareness about its benefits.

The major players targeting the market includes

• Archer Daniels Midland Company
• Cargill
• Dupont
• Wilmar International
• Roquette Freres
• Glanbia
• Kerry Group
• DSM

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the plant-based protein market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the plant-based protein market?
• Which factors are influencing the plant-based protein market over the forecast period?
• What are the global challenges, threats, and risks in the plant-based protein market?
• Which factors are propelling and restraining the plant-based protein market?
• What are the demanding global regions of the plant-based protein market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of plant-based protein market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.