plant-based protein market growth – Trends & Forecast on Agricultural and Food Industry

The global plant-based protein market is projected to be valued at USD 23.89 billion by 2025 and is expected to grow to USD 34.97 billion by 2030, registering a compound annual growth rate (CAGR) of 7.9% from 2025 to 2030. This growth is driven by a rising shift toward vegan and flexitarian diets, along with increasing consumer demand for plant-based meat and dairy alternatives.

Plant-based proteins have gained substantial popularity in recent years due to their high nutritional value, including a complete amino acid profile, high digestibility, and the ability to meet daily caloric and nutrient needs. Among the various sources, pea protein and other emerging alternatives have seen rapid growth, a trend expected to continue as more consumers look for soy-free options due to allergies and intolerances.

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Rising Demand for Milled Protein Flour

The milled protein flour segment is projected to witness notable growth during the forecast period. These flours, derived from sources such as soy, peas, lentils, and chickpeas, are finely ground to maximize protein content, making them ideal for use in bakery items, snacks, and meat substitutes. Their versatility and ability to enhance both texture and nutrition appeal strongly to health-conscious consumers and manufacturers alike.

Dominance of Conventional Plant-Based Proteins

The conventional plant-based protein segment is expected to maintain the largest market share throughout the forecast period. These proteins—sourced from ingredients like soy, wheat, peas, and chickpeas—are widely used in the food and beverage industry, particularly in baked goods, snack products, and meat analogs.

Manufacturers often prefer conventional plant-based proteins due to their scalability and ease of sourcing, without the regulatory constraints of organic certification. Additionally, conventional crops typically contain higher protein concentrations, owing to the use of fertilizers and other synthetic agricultural inputs, making them a practical solution for meeting growing global demand.

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Europe’s Significant Role in Market Growth

Europe is anticipated to hold a substantial share of the plant-based protein market during the forecast period. The region has seen a rapid increase in veganism, driven by rising sustainability concerns, health awareness, and changing consumer preferences.

This shift has not only influenced individual consumption patterns but also transformed industrial production strategies, prompting companies to innovate and expand their plant-based offerings. As the demand for meat alternatives grows, Europe remains a key region for investment and expansion in the plant-based protein sector.

Leading Plant-based Protein Companies:

The report profiles key players such as Cargill, Incorporated (US), ADM (US), Kerry Group PLC (Ireland), International Flavors & Fragrances Inc. (US), Ingredion Incorporated (US), Wilmar International Ltd. (Singapore), Roquette Frères (France), Glanbia PLC (Ireland), DSM-Firmenich (Switzerland), AGT Food and Ingredients (Canada), Tate & Lyle (UK), Burcon (Canada), Emsland Group (Germany), PURIS (US), and COSUCRA (Belgium).

Introduction:

In the ever-evolving landscape of the global food industry, a notable transformation has occurred in recent years, marked by a substantial surge in consumer demand for plant-based protein market trends. Valued at USD 13.3 billion in 2023, this market is projected to reach USD 19.2 billion by 2028, demonstrating a remarkable Compound Annual Growth Rate (CAGR) of 7.7% from 2023 to 2028. This shift is underpinned by changing consumer attitudes towards health, sustainability, and ethical considerations.

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Health-Conscious Choices:

The increasing number of health-conscious consumers seeking dietary options aligning with their preferences and restrictions has fueled the popularity of plant-based protein sources. Tofu, legumes, and pea protein are hailed for their lower saturated fat content and absence of cholesterol, making them perceived as healthier choices.

Ethical Considerations:

Concerns about animal welfare and the ethical treatment of animals in the food industry have prompted a significant portion of consumers to turn to plant-based protein sources. These alternatives provide an ethical choice for those aiming to reduce or eliminate their consumption of animal products, as they do not involve animal exploitation.

Culinary Innovation:

Advancements in food technology and culinary innovation have given rise to a diverse range of plant-based protein products. From plant-based burgers and sausages to meatless chicken and fish alternatives, consumers now have access to a variety of innovative plant-based protein options.

Drivers of Growth:

A key driver of the plant-based protein market is the growing consumer preference for a vegan diet. Developed nations, particularly the United States and the United Kingdom, have witnessed a notable uptick in the acceptance of plant-based protein options. Consumers in these regions appreciate the benefits of plant-based proteins in delivering essential nutrients, improving overall health, facilitating weight management, and enhancing meal palatability.

Opportunities in Aquatic Plants:

As the market continues to expand, focus on aquatic plants as new and emerging sources of protein presents exciting opportunities. While plant-based foods offer various health benefits and essential minerals, challenges such as allergies associated with certain sources, like soy, need to be addressed for sustained market growth.

Application Dominance:

In terms of applications, the food and beverages sub-segment is anticipated to dominate the plant-based protein market. The increased adoption of plant-based meat and dairy products, driven by concerns about meat sourcing practices and their ecological impact, has fueled this growth.

Regional Dynamics:

The Asia Pacific region is poised to exhibit the fastest CAGR in the plant-based protein market. The rising demand for fortified nutritional food and beverage products, coupled with increased disposable incomes and busy lifestyles, has fueled this growth. Dairy alternatives, particularly soymilk, are gaining popularity, with food manufacturers introducing various forms to meet the growing demand for healthy beverages.

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Conclusion:

The plant-based protein market’s remarkable growth reflects a paradigm shift in consumer preferences towards healthier, more sustainable, and ethically sound dietary choices. As the industry continues to innovate and address challenges, the trajectory points towards a future where plant-based proteins become an integral part of global dietary habits.