This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Plant-Based Protein industry.
What is the anticipated market size of the plant-based protein industry over the next few years?
The plant-based protein market size has grown exponentially in recent years. It will grow from $52.08 billion in 2024 to $64.38 billion in 2025 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to increased health and wellness awareness, rise in concerns about environmental sustainability, growth in preference for vegetarian and vegan diets, expansion of plant-based food and beverage industry, demand for allergen-free and non-gmo protein sources.
The plant-based protein market size is expected to see rapid growth in the next few years. It will grow to $124.55 billion in 2029 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to regulatory support and labeling standards for plant-based foods, rising consumer demand for clean label and natural ingredients, market penetration in emerging economies and middle-income countries, increasing applications in functional foods and nutraceuticals, growing interest in sports nutrition and performance enhancing supplements. Major trends in the forecast period include technological advancements in protein extraction and processing, hybrid and blended products, fermented and cultivated proteins, customized protein solutions, innovations in dairy alternatives.
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What emerging drivers are expected to shape the future of the plant-based protein market?
The increasing awareness of health and wellness is expected to propel the growth of the plant-based protein market during the forecast period. Plant-based proteins are good for weight loss and provide building blocks for healthy muscles and tissues. They are high in fiber and contain less amount of calories & fats than animal protein. For instance, in 2022, according to the Office for National Statistics, a UK-based national statistics organization on the epilepsy, UK healthcare expenditure reached approximately $354.88 billion (£283 billion) in 2022, reflecting a nominal increase of 0.7% compared to spending in 2021. Therefore, the increasing awareness of health and wellness drives the growth of the plant-based protein market.
What emerging segments are shaping the future landscape of the plant-based protein industry?
The plant-based protein market covered in this report is segmented –
1) By Type: Isolates, Concentrates, Textured
2) By Source: Soy, Wheat, Pea, Other Sources
3) By Form: Dry, Liquid
4) By Application: Feed, Food, Other Applications
Subsegments:
1) By Isolates: Soy Protein Isolate, Pea Protein Isolate, Rice Protein Isolate, Wheat Protein Isolate
2) By Concentrates: Soy Protein Concentrate, Pea Protein Concentrate, Rice Protein Concentrate, Hemp Protein Concentrate
3) By Textured: Textured Soy Protein (TSP), Textured Pea Protein, Textured Wheat Protein, Textured Rice Protein
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How are emerging trends transforming the plant-based protein market dynamics?
Major companies operating in the plant-based protein market are focusing on developing innovative products, such as Meal Extender, to enhance nutritional profiles and improve the sensory experience of meat alternatives. A meal extender is an ingredient added to a dish to increase its volume or bulk without significantly altering its flavor. Commonly used in various cuisines, meal extenders can include ingredients like grains, vegetables, or legumes, helping to reduce costs and increase portion sizes. For instance, in July 2024, Nestle, a Switzerland-based food company, launched Maggi Rindecarne to enhance meals by combining it with traditional minced meat. Maggi Rindecarne is a plant-based meat extender that enhances meals by combining with traditional minced meat, providing approximately 5.2 g of protein per serving while keeping fat content low. This cost-effective solution allows families to double their servings, making it an economical choice for budget-conscious consumers.
How are key players in the plant-based protein market strengthening their market position?
Major companies operating in the plant-based protein market include Archer-Daniels-Midland Company, DuPont Nutrition & Biosciences, Axiom Foods Inc., Cargill Inc., Kerry Group, Ingredion Inc., Roquette Freres SA, Wilmar International Ltd., Glanbia plc, Cosucra Groupe Warcoing SA, Sotexpro SAS, Emsland Group, Puris Proteins LLC., Beyond Meat Inc., ETChem Ltd., BENEO GmbH, Tate & Lyle plc, Shandong Jianyuan group, American Casein Company, Proeon Foods, Australian Plant Proteins Pty Ltd., Impossible Foods Inc., Nestle SA, Kellogg Company, Conagra Brands Inc., Tyson Foods Inc., Turtle Island Foods, Lightlife Foods Inc., Field Roast Grain Meat Co. Inc., Quorn Foods Ltd.
Which geographic areas are contributing significantly to the growth of the plant-based protein sector?
North America was the largest region in the plant-based protein market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plant-based protein market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
How Can Companies Use The Plant-Based Protein Market Report to Drive Business Results?
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:
• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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