The global plant based protein market is on the up, so much so that by 2022 it is expected to reach an impressive $10,892.3 million.
The global plant based market report has evaluated the popularity and use of pea protein, rice protein, soy protein and many more plant-based protein sources to come up with its findings. It also analyzed where these proteins are applied, looking at food and health supplements alongside animal feed and pharmaceuticals.
It has found that amongst others, NOW Foods of the US, along with the United Kingdom’s Tate & Lyle Plc, France’s Roquette Freres Le Romarin and Singapore based Wilmar International Ltd are the current front-runners when it comes to meat-free protein.
Over the last few years, the world has seen a growing awareness and concern for health and wellness. People across the globe have an increased desire to seek out healthy plant-based proteins over meat and there are also growing concerns for animal welfare.
The global plant based market report reflects this and has found that as of last year, the population of North America is leading us towards a bright vegan horizon.
Europe and Asia-Pacific are following on closely behind, with the latter anticipated to quickly progress further towards plant-based alternatives. This is due to an increasing health awareness in the Asia-Pacific region combined with the development of the food and beverage industry and an expanding economy.