World Plant Based Protein Market to See Steady Growth to 2022, Predicts Meticulous Research in Its New Report Now Available at MarketPublishers.com30 Oct 2017 • by Natalie Aster
LONDON – Fueled by rising awareness of the benefits of protein, increasing demand for protein rich diet, expanding health & wellness trends, enhancing consumers’ focus on meat alternatives, escalating demand from the food & beverage sector and different advancements in ingredient technologies, the world’s plant based protein market is anticipated to go beyond USD 10.89 billion in value terms by the year 2022, registering a 6.7% CAGR in the next 5 years.
However, there are some factors that could hamper further growth in the plant based protein market, for instance, fluctuating raw materials prices and strong presence of animal based protein.
As for region, North America held the major share of the global plant based protein market in the past year, followed by Europe and APAC. The dominance of the North American region is attributed majorly to the well-established food & beverage industry, escalating concerns about animal products and protein, rising popularity of vegan lifestyle, surging demand for healthy and nutritional products, and high popularity of health & wellness trend in the region.
Meantime, the highest growth rates during 2017-2022 are expected in the APAC market for plant based protein, owing to increasing awareness of protein rich diet amid the local population, elevating health consciousness, tremendous uptake in the regional food & beverage industry, ongoing economic development, robust urbanisation and high number of vegans in the region.
New research publication “Plant Based Protein Market- Global Opportunity Analysis And Industry Forecast (2017-2022)” prepared by Meticulous Market Research offers a 360 degree view of the world’s plant based protein market scenario. It covers the actual situation across different regions, highlights the major growth propelling and restraining the market development, delves into the market segmentation and identifies promising growth areas, as well as discusses the emerging growth opportunities and challenges. Moreover, this report gives a look at the competitive environment and uncovers valuable data on the key rivals in the market. This publication touches upon the prevailing trends in the plant based protein market, reviews the recent industry developments, evaluates the market’s future growth potential and gives access to detailed forecasts of the market development up till 2022.
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