June 5, 2020

Changes in Veggie Protein Market Revenue and growth rate during COVID-19 crisis and Forecast 2018-2028

Global Veggie Protein: Market Outlook

Proteins are the major essential component of muscles and other body cells and are used to produce enzymes, hormones, and hemoglobin. An adequate dietary intake of protein is essential for growth and repair of body tissues, the normal functioning of muscles, transmission of nerve immunity and impulses. Veggie protein is extracted from natural resources like plants, fruits, beans, nuts, and other sources. Veggie protein products are lower in saturated fat, cholesterol and high in fiber, and are good sources of antioxidants and phytochemicals, all of which may contribute to reducing fat and weight. The consumption of veggie protein rather than animal protein helps in the management of body weight and reducing chronic disease risk.

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Global Veggie Protein Market: Market Dynamics

Changing dietary pattern refers to more protein will be consumed by humans and increased demand for protein arising from the population growth. The increased demand for veggie protein globally is driven by health conciseness, climate change, increased urbanization, an aging population, thus boosting the global veggie protein market. The word natural, vegan, and organic is gaining high momentum in food and beverages industry, thus proving a positive factor for global veggie protein market.

The veggie protein contains natural plant-based ingredients which are easy to digest for any age group of human, which creates a huge demand for veggie protein market. The increasing awareness about the unwanted negative environmental effects of livestock production, as well as the negative health effect of animal-based food products and protein compared with plant-based veggie protein, which boosted demand for veggie protein market. Consumers taste and preferences for food are changing dramatically from last two decades, demand for healthy vegetarian products is increasing especially in the Europeam amd Asia-Pacific regions. Protein manufactures more prone to produce veggie protein due to increasing demand from the consumer.

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Global Veggie Protein Market: Market Segmentation

On the basis of sources, global veggie protein market has been segmented into:-

  • Soy
  • Pea
  • Tofu
  • Rice
  • Others

On the basis of Flavor, global veggie protein market has been segmented into:-

  • Regular
  • Flavored

On the basis of distribution, global veggie protein market has been segmented into:-

  • Business to Business
  • Business to consumer
  • Hypermarkets/Supermarkets
  • Specialty Outlets
  • Pharmacy & Drug Stores

On the basis of forms, global veggie protein market has been segmented into:-

  • Isolate
  • Concentrate
  • Texturize
  • Hydrolysate

On the basis of end use, global veggie protein market has been segmented into:-

  • Bakery
  • Prepared Meals
  • Personal care Industry
  • Foodservice Industry
  • Pharmaceutical

On the basis of region, the global veggie protein market has been segmented as:

  • North America
  • Latin America
  • Europe
  • East-Asia
  • South Asia
  • Middle East & Africa
  • Oceania

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Global Veggie Protein Market: Key Players

The key industry player operating in the Global veggie protein market are ,

  • Nuzest
  • Nutreelife
  • Naturade
  • A division of Prevention
  • LLC.
  • Vega
  • MV Nutrient Products Pvt Ltd
  • Hustle up
  • Ingredion Inc.
  • Axiom Foods, Inc.
  • Blnditup

Opportunities for market participants in the Global Veggie Protein market:

The world is on the stage of nutrition transition, consumer trends towards both healthier diets and alternative natural proteins have prompted an increase in demand for veggie protein. Popularity of plant protein is increasing among food manufacturers as it is a clean label ingredient. Modern consumers read ingredient lists and labels very carefully and want to have full control over what they eat, every day. For food manufacturers, clean label means simplifying the ingredient list, while removing ingredients that are not easily recognized or preferred by consumers. Plant proteins are easily recognized by consumers and are presumed to be healthy, natural, and nutritious.

According to Ingredion, a leading global ingredients solutions company, around 80% of consumers, globally feel it is important that they recognize all ingredients listed on their food and drink packaging. A global survey conducted across 17 prominent countries indicated that consumers also feel that a short and simple ingredient list is important, and that Chinese consumers were rated 4th most likely to read ingredient lists.

Archer Daniels Midland Company, a premier self-contained, full-line manufacturer of soy proteins, offers extensive line of soy proteins including isolates, concentrates, TVP (textured vegetable protein), TVC (textured vegetable crumbles), soy flours, and soy grits designed to help maintain optimal health.

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