Global plant protein market has been growing rapidly in the past few years. The growth is primarily backed by the rising flexitarian trend in most of the countries. Flexitarian diet is likely to expand plant-protein manufacturers’ consumer-base which in turn increases profitability. Moreover, the adoption of vegetable diet and vegan meals due to the increasing health consciousness and evolving veganism among a large population is expanding the market growth. Reducing animal product intake and adding more plant-based foods in diets is creating demand for plant-based proteins.
Changing lifestyles is driving consumers’ food habits. Consumers are becoming more conscious about what they eat. As a result, demand for high protein products which has less carbon footprint such as plant-based protein is rising. Also, ongoing coronavirus pandemic is creating demand for plant-based meats, as consumers are avoiding animal-based products due to health concerns. The trend is creating opportunities for manufacturers to meet the rising demand.
Plant-based proteins have emerged as a weight management tool in the recent years especially in countries such as the US, Russia, and Australia. As there are changes in preferences and common food habits, weight management is also going through a change. The trend towards more plant-based foods and diets has increased the number and types of products in the market. Many of the plant-based proteins are specifically made to help in weight management.
Globally, the demand for pea protein is rising. In the US, in particular, pea protein is gaining market share. This is primarily due to high protein content and several health benefits it offers. Additionally, the use of pea protein is increasing in dairy, bakery, and other food and beverage processing markets as an alternative to other plant-based protein such as soy.
This report from ConsumerIntel360 is a bundled offering, combining 15 detailed country reports: Australia, Brazil, China, France, Germany, India, Indonesia, Italy, Japan, Russia, South Africa, Thailand, United Arab Emirates, United Kingdom, United States.
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