Global Plant Protein Market Projected to be worth US$6950 mn by 2025 as the Vegan Diet Rises

Publisher: QYResearch
Published Date: 2019/8/2

The plant protein market is likely to witness significant growth due to a growing demand for high nutrition profiles of pea and soy proteins and increasing demand for healthy food products. Customers are inclined towards plant-based protein because of its high nutritional value, easy digestibility, and because it’s a sustainable source of protein. Plant protein ingredients are mainly used in the pharmaceutical industry, food and beverages industry, and sports nutrition products to provide a healthy diet to consumers.

In addition, increasing awareness regarding the adverse effects of red meat has resulted in shifting interest of consumers towards plant-based protein as an alternative, which is driving the growth of the market. Mounting demand of consumers towards a vegan diet is also expected to propel the market growth in the near future.

Moreover, rising e-commerce industry is one of the key factors that is propelling the sale of nutritional supplements. Retailers are focusing on increasing online shopping through better online education and target marketing.

The plant protein market is likely to grow to a CAGR of 6.30% during the period of forecast to attain a market value of US$6950 mn by the end of 2025 from US$4530 mn in the year 2018. Plant proteins are considered to be a healthy substitute to animal or dairy products, which is expected to support the growth of the market in the forthcoming years.

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