The Kenya plant protein market is projected to grow at a CAGR of 7.46%, from US$26.478 million in 2020 to US$43.818 million in 2027.
There is a growing sense of realization among the Kenyan population that the world is stressed by the exponential growth of the population when it comes to food and beverage consumption, especially with regard to proteins that are derived from meat, poultry, fish, and dairy, despite the fact that it is also known that these sources have proved to be an optimal source of development. According to FAO, global meat production is projected to increase by 16% from 2015 to 2025. Additionally, Kenya, being a transition economy, is also seeing a great demand for livestock-based food that is predicted to further exacerbate the already prolonged environmental degradation. If problems like climate change, biodiversity loss, water stress, land degradation, and water pollution are added to the mix, it will not be an encouraging aspect for the economy. Nevertheless, with increasing awareness, today's consumers of Kenya are increasingly inclined to adopt plant-based dietary patterns and there also exists a growing number of vegan consumers, which will indirectly fuel the Kenyan plant-based protein ingredient market growth.
Increased demand for plant-based protein ingredients
Further, the other factor is that, whether they are vegan, flexitarian or just adventurous eaters, today's Kenyan consumers are looking for more protein from a variety of sources. Additionally, the increasing purchasing power is also leading to a demand for a variety of textures and tastes. Moreover, a growing sense of health consciousness is also driving the need for plant-based protein ingredients in Kenya. The reason is that consumers are increasingly becoming aware of the association of increased chronic diseases and mortality with animal protein consumption, and the consumption of higher protein lowers the risk significantly. Other factors poised to fuel the growth of the plant-based protein market include urban consumers' desire to supplement their diet with functional beverages marketed as meal replacements for being fortified with a variety of plant-based protein ingredients, as well as a lack of time to embrace traditional methods of cooking. Nevertheless, there are certain restraining factors for the market due to the slow adoption rate and the still larger market share of protein derived from animals. Further vegetarianism necessitates the inclusion of a wide variety of substitutes for nutrient-dense animal products, which is difficult to accommodate due to the dearth of a variety of products that include plant-based proteins. However, this creates an opportunity for the same market for future expansion.
Products offerings by the key players in the market
Key Developments in the Market:
COVID-19 Insights
COVID-19 had a significant impact on the Kenya plant-based protein market. The outbreak significantly impacted the consumers' dietary habits as they became more health conscious, driving up demand for a balanced diet that is nutrient-rich. This growth trend was reflected in the demand for plant-based protein as well. The digital market employed by the market players also played a significant role in the market change. The growing number of vegans in the region is another driving factor.
Segmentation