Market Overview:
Plant Protein Ingredients Market has witnessed continued growth during the last few years. The growth of the plant protein ingredients market in Asia Pacific region is anticipated to be driven by various factors. The rise in disposable incomes has resulted in an increase in demand for a quality protein which is available in different forms. Increase in vegan, vegetarian population across the world has boosted the demand for plant-based protein ingredients. Healthy benefits of plant proteins include lowering cholesterol, lowering blood pressure, balancing blood sugar, lowering cancer risk, and weight loss support has further attracted consumers towards plant protein ingredients.
Key manufacturers are penetrating the developing economies and arranging various promotional events in order to create strong awareness among the consumers regarding the new product launch, which, in turn, stimulates the sales of plant protein ingredients. For the pharmaceutical application, protein in the form of tablets and capsules are used. Protein is also used in the manufacturing of different vaccines which induce a protective immune response against the pathogen. Unique functional properties of proteins including signaling, regulation, transcription or structure enables its higher usage in pharmaceuticals. Apart from that, cost-effective nature of plant protein ingredients is expected to fuel the sales of plant protein ingredients market in the Asia Pacific region.
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Leading Key Players:
Key players are engaged in the acquisition of local & small players which will further help the company to expand and spread out to consumers across the various regions. The end-user industries are inclined to the product promotions through magazines, social media and other different mediums to reach the customers. The promotional always helps to enhance the customer base due to the increasing awareness of the new product offerings. With strategic expansions, key market players are focusing on penetrating into the developing economies to expand their business portfolio. Consumers both in developed and developing countries are keen on discovering new product range offered to them and which creates a large consumer base.
The key players profiled in the Plant Protein Ingredients Market report are Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill Incorporated (U.S.), Omega Protein Corporation (U.S.), Amco Proteins (U.S.), Kerry Group (Ireland), Omega Protein Corporation (U.S.), Roquette Freres S.A. (France), Axiom Foods, Inc. (U.S.), and The Scoular Company (U.S.) among many others.
Latest Industry Updates:
January, 2018 Cargill Incorporated entered into a collaboration with PURIS to increase the pea protein segment
November, 2017 Cargill Incorporated invested USD 146 million in the plant protein market to increase the production
September 2017 Du Pont introduced its 90% protein nugget product range, with three various products
October 2017 Du Pont launched plant based beverages especially for the increasing vegan consumers
April 2017 Dupont has launched its new SUPRO XT55 Isolated Soy Protein, designed specifically to improve the profitability of ready-to-drink
February 2017 Glanbia Nutritionals Inc. announced strategic acquisitions of Plant Nutrition and the company invests approximately €181 million.
Segments:
Global Plant Protein Ingredients Market has been divided into type, source, application, and region
On the Basis of Type: Isolates, Concentrates, and Textured proteins
On the Basis of Source: Pea, Soy, Wheat and others
On the Basis of Application: Dairy, Beverages, Bakery & confectionary and others
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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Regional Analysis:
Plant Protein Ingredients Market is segmented into Europe, North America, Asia Pacific and Rest of the World. Among all the region, North America region is expected to account for the one third of the market proportion in the year of 2017 and the trend is expected to continue throughout the forecast period of 2017-2023. North America plant protein ingredients market is anticipated to be driven by various reasons. Product innovation is considered to be the main factors for the rising growth of plant protein ingredients market in North America region.
Apart from that, increasing consumer awareness towards the healthy lifestyles is expected to fuel the demand for plant protein ingredients. Europe is also estimated to account for the significant market proportion in the plant protein ingredients market. Also, Europe is expected to witness healthy growth during the forecast period. Increasing lactose intolerance among the consumers in Europe region is the key factors for the increasing growth of plant protein ingredients market during the forecast period.
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