Global Plant Protein Market: Rising demand of lactose free and gluten free products and increasing health consciousness due to growing concern about obesity and overweight.

The plant-based protein market is estimated to account for a value of USD 20.1 billion in 2020 and is projected to grow at CAGR of 14.6% from 2020, to reach a value of USD 48.7 billion by 2027. The plant protein market involves protein ingredients derived from plants as a source. The products considered are manufactured by companies that have their procurement system and farms, as a part of the agribusiness unit.

Major drivers of the market include rising purchasing power of middle income and lower income families, growing youngsters and middle-aged population interested in hitting gym and fitness clubs, rising demand of lactose free and gluten free products and increasing health consciousness due to growing concern about obesity and overweight. The report provides a comprehensive analysis of the global plant-based protein market (segmented on the basis of type, source and applications) with focus on global plant-based meat market (segmented on the basis of source and product). The major regional and country markets (North America, Europe, Asia Pacific and Rest of the World) have been analyzed. The market dynamics such as growth drivers such as health and purchase power of the middle income, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (Kerry Group PLC, Glanbia PLC, Corbion NV, Archer Daniels Midland Company, Danone and Cargill Inc.) are also presented in detail.