Athletes and fitness enthusiasts are increasingly favoring plant-based proteins, driving growth in the plant protein supplements and powders market.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 29, 2023 /EINPresswire.com/ -- Global vegan protein foods market is expected to be valued at US$ 10327 million in 2023 and to reach a valuation of US$ 19063 million by 2033. The demand for vegan protein foods is estimated to grow at a steady 7% CAGR, with the U.K., the U.S., China, and India emerging as key producers.

Consumers' growing interest in health has fueled a dramatic expansion of the field of personalized nutrition. Recently, shoppers have been increasingly picky about what they put in their bodies. Other than the traditional vegan protein product sources like soy, wheat, and pea, aquatic plants present a tremendous potential to obtain proteins and components that are tailored to the specific physiological and metabolic requirements of individual customers.

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Protein in plants is synthesized through a natural process that uses the energy from the sun to drive a sequence of chemical reactions that combine different elements into a single molecule. Chlorophyll, found in plants, is the essential agent responsible for this one-of-a-kind process. Most of the sun's rays hit water, including the seas, rivers, lakes, and wetlands. Aquatic proteins fit for human consumption exist in water bodies all over the world and can be enhanced with the help of modern aquaculture technology, but they are still mostly unexplored.

Growing concerns about heart disease, diabetes, high blood pressure, obesity, and other lifestyle-related illnesses have shifted consumer preferences toward plant-based diets. As a result, this is helping to drive Demend for vegan protein foods. People are increasingly opting for plant-based diets as a defense mechanism against the rapid proliferation of diseases that can be spread by animals or insects. Manufacturer interest in the vegan market has increased as a result of the expanding vegan trend. In the Americas, morbid obesity is the primary killer. Veganism, or the consumption of proteins derived from plants, is thought to lower the risk of cancer, obesity, and cardiovascular disease through increasing glucagon activity.

Key Takeaways:

The growing vegan protein foods market as a result of the health benefits, it provides has prompted major businesses to diversify their offerings. So, to improve the food's overall health benefits, more and more people are turning to plant-based proteins.

With the help of cutting-edge innovations in research and development, plant proteins can find even more uses in the food and drink industry. However, new products can help make up for plant protein's lower grade when compared to animal/dairy proteins like whey and meat.

When it comes to the worldwide plant-based protein business, soy protein is a huge moneymaker and is projected to expand at a rapid clip over the next several years.

Soy, wheat, pea, and other legumes and grains are only some of the plant foods that can be used to make protein-rich plant-based foods. Pea protein is expected to expand at a robust CAGR of 6.9% during the next few years.

The value of the isolate market category is projected to grow at a CAGR of 5.8% over the forecasted time frame, as indicated by the data presented here.

Competitive Landscape:

The competitive landscape in the vegan protein foods market is becoming increasingly competitive as more companies enter the market and existing companies expand their product offerings.

Companies in the vegan protein foods market are prioritizing product innovation, utilizing new ingredients and technologies for plant-based alternatives that mimic traditional meat. Some employ fermentation for more realistic texture and taste.

Top Companies in the Indian Vegan protein foods Industry:

Good Dot - Good Dot, an Indian food tech company, offers a diverse range of plant-based meat alternatives, including burgers, sausages, and kebabs.

Meatless Farm Co. - Meatless Farm Co. is an Indian startup that produces plant-based meat alternatives such as burgers, sausages and meatballs. They use a blend of soy, wheat, and pea protein to create their products.

Green Chef - Green Chef is an Indian food company that specializes in plant-based, vegan, and organic food products. They offer a wide range of products, including ready-to-eat meals, snacks, and protein supplements.

EVO Foods - EVO Foods is an Indian company that produces plant-based meat alternatives such as burgers, sausages, and kebabs. They use a blend of soy, wheat, and pea protein to create their products.

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Key Segments:

Product Type:

Soy Protein
Wheat Protein
Pea Protein

Form:

Isolates
Concentrates
Hydrolysates

Nature:

Organic
Conventional

Application:

Nutritional Products
Bakery, Snacks & Cereals
Dairy, Confectionary and Dessert
Convenience Food
Beverages
Animal Feed

Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

Vegan Protein Bars Market: Is expected to reach a market valuation of US$ 757.5 million by the year 2023.

Pea Protein Market: Size is expected to develop at a CAGR of 7.0% from 2023 to 2033.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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