U.S. plant protein market is projected to attain a market size of US$5,092.041 million in 2025. There is rising awareness among people regarding the ill effects associated with the excess consumption of red meat such as beef and pork on health such as it holds to the potential to lead to the accumulation of high levels of cholesterol in the body due to its saturated fat content. Simultaneously, it is also likely that it leads to heart disease as well, and it is encouraging people to shift their preferences to the much healthier alternative resulting in an increase in the demand and consumption of plant protein, which is leading to a surge in the market growth.
In addition, the popularity of the different plant-based proteins such as pea protein, soy protein among others is increasing among the individuals due to the rising vegan population and the growing trend towards veganism, which is leading to a further increase in the demand for plant protein and is acting as factor bolstering the market growth over the forecast period.
However, a majority of the individuals are still inclined towards the consumption of the alternative available in the market which hampers the market growth over the forecast period to some extent.
Furthermore, the market players are increasingly participating and involved in the market through investments, and product launches in order to cater to the rising demand among the consumers effectively and to contribute to the growth of the market over the forecast period. For instance, in February 2020, Cargill, one of the leading companies dealing with the provision of food, agricultural, industrial and other products to different industries, announced that they are investing in their own private label, with the purpose to cater to the growing demand of plant protein products, which will be available from April 2020. Some of the products in their offering include plant-based patties and ground products. In February, 2020, Sproud, one of the leading companies involved in producing vegan pea-based products, based in Sweden, announced that their pea-based milk is going to launch in the U.S. The pea-based milk is going to be available in four different flavors, Original, Unsweetened, Chocolate and a professional formula developed especially for baristas, to appeal to the different tastes and preferences of the consumers. The product will be available in April on retail sites such as Amazon.
Pea based Plant protein to estimated to grow rapidly.
By source, the plant-based protein market has been segmented aspea, rapeseed, soy, hempseed, and others. Pea based plant protein is expected to hold a significant market share over the forecast period, which is attributable to the fact that pea protein has a host of health benefits such as they are rich in iron, arginine and are easily digestible, which makes it a popular protein choice to support good health among adults and children alike. In addition, its ability to facilitate muscle growth supply BCAA’S (branched-chain amino acids) and increasing the energy levels in the body, making it a popular choice as a plant-based dietary supplement.