The plant protein ingredients market to grow rapidly in coming years due to escalating demand for healthy diet regimes to minimize the risk of diseases. Organizations like European Vegetarian Union are encouraging local authorities to promote the consumption of plant-based food items to safeguard animal rights. Such initiatives could massively benefit the industry outlook. Vegan protein powders contain healthy fibers and have varied applications in the bakery, infant nutrition, functional food & beverages, and sports nutrition.
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Global Market Insights, Inc., estimates that the plant protein ingredients market might reach USD 8 billion by the year 2025.
The U.S. plant protein ingredients market to grow rapidly over the coming year due to growing popularity of sport nutrition products coupled with rapid expansion of health clubs and fitness centers. Estimates suggest that the regional market from sports nutrition application could generate almost USD 600 million during the analysis period. These protein ingredients help in strengthening and building muscles and takes care of muscle recovery after exercise.
Plant protein ingredients are projected to witness expansive demand given to rising consumption of functional food products such as soy, oats, nutrition bars, fortified baked products, flaxseed & edible oils. Consumers are preferring to add vegan protein powder in their oatmeal dishes to improve overall protein content. These ingredients can provide extra nutritional benefits.
Growing inclination towards vegan diets due to surging awareness over animal welfare could enhance the plant protein ingredients market demand in the forthcoming years.
The elastic and sticky nature of wheat protein makes it ideal for making noodles and bread that are globally prescribed in almost all health regimes. Forecasters claim that the segment could register more than 6.0% gains by the end of 2025. Proliferating demand for multigrain bread due to its high dietary fibers and low-fat content could drive product adoption in bakery goods.
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Increasing number of developmental activities in the field of plant proteins could broaden the business horizon over the predicted timeframe. Plant protein suppliers are investing heavily in new R&D projects to enhance the functionality of plant protein powders. Citing an instance, Protein Industries Canada decided to partner with O.M.D. Food, Ingredion Inc., T Base 4 Investments, and Verdient Foods Inc. to commercialize a new technology to enhance the functionality of pulse-based protein ingredients.
Prominent plant protein ingredients market players like Prinova Group, Kerry, Cargill, Sonic Biochem, and Axiom Food are focusing on capacity expansion, product portfolio expansion and R&D activities to cater to the booming bakery, functional food, and clinical nutrition sectors. Taking November 2020 for instance, ChickP, the popular chickpea protein isolate supplier, managed to patent its proprietor technology in Israel. With this patent, the company will be able to easily commercialize its products across Asia.
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