Middle East and Africa plant protein market is projected to grow at a CAGR of 9.95% during the forecast period. In June 2019, DuPont Nutrition & Biosciences announces the debut of naturally sourced GRINDSTED® PLANT-TEX egg white replacement system for plant-based meat alternatives suitable for anyone wanting to reduce their consumption of meat and able to obtain a vegan claim. It is also reported to cater to the ever-growing change in consumer’s mindset toward a healthier and more sustainable lifestyle is driving purchases of plant-based foods high in protein with meat-like texture, taste, and juiciness. Moreover, it is reported to boost the protein content for health profiling a d enhances tastes of the final product in various aspects that range from juiciness to the Umami flavor. Further, it also enables a salt reduction to a meat-like texture. During the time of the announcement, it was being offered in the Middle East and Africa, among others. Thus. Form the aforesaid instill market offering by a global ingredient giant is an example that the Middle East and African market is witnessing a surge in the demand for plant-based process food which in turn is poised to drive the plant-based protein ingredient market of the region.
The other aspect that is going to drive the plant protein ingredient market in the region is the growing interest of home-grown investment companies. An example to this endis prominent Saudi Arabia based venture capital fund KBW ventures led by Prince Khaled bin Alwaleed bin Talal Al Saud to invest in innovative food companies that can feed the entire world. By 2020, it plans to make way for the establishment of a series of outlets of vegan chain Plant Power Fast Food. This announcement comes after closing the deal with the chain that includes investments with them and obtain the rights to open these outlets. Thus, these piecemeal investments to fuel a food and beverage revolution in the country are being hailed as the next new normal for the plant-based meat sector that will, in turn, drive the market for plant-based protein market of Saudi Arabia. Further, due to the rise in disposable income as well as a steady rise of urbanization has resulted in the increasing of options available and a dearth of time to ensure a nourishing meal, respectively. From the perspective of a variety of options, due to a percentage of the population who are embracing a vegan lifestyle, there are a quite a few players in the plant meat segment who are eagerly inclined to enter the plant-based meat market of the region. To this end, 100 percent plant meat, zero percent cow and resembling exactly like a regular patty, Moving Mountains®that claims to less land, less water and produces fewer greenhouse emissions than animal meat in February 2019, announced that it is launching its first-ever plant-based burger into the Middle East. Another two instances that are a testimony to the growing plant protein market of the middle east and Africa that would be an integral part of the plant-based alternative processed food market.
Further, there is a growing requirement for adhering to a strict fitness regime that has led to the surge in plant-based protein supplements.To this end, it should be noted that protein derived out of soy has held limelight for quite some time within the plant-based protein ingredient market. Nevertheless, due to an increase in research and innovation as well as growing approval form regulator authorities like that of FDA are being increasingly viewed as a reliable assurance enabling the successful transitioning to protein supplementing dietary habits that include plant-based proteins. Further, food and beverage are being increasingly pursued for its functionality and the degree to which they resonate with the value of today’s consumers. This has incentivized the need for incorporating plant-based proteins to increase the functionality of beverages as well as catering to those who have adopted the vegan or flexitarian lifestyle. However, the traditional inclination to consume meat and relatively low awareness of plant-based alternatives will slow the adoption of consumer goods with the plant-based protein ingredients thus will be a restraining factor for the Middle East and Africa Plant Protein Market.