植物性タンパク質市場 : 2029年までの世界予測

Plant Based Protein Market - Global Forecast to 2029

植物性タンパク質市場 : 供給源 (大豆、小麦、エンドウ豆、キャノーラオーツ、米とジャガイモ、豆と種子、発酵タンパク質)、タイプ (濃縮物、分離物、テクスチャード)、形態 (乾燥、液体)、性質 (従来型、オーガニック)、用途 - 2029年までの世界予測
Plant-based Protein Market by Source (Soy, Wheat, Pea, Canola Oats, Rice & Potato, Beans & Seeds, Fermented Protein), Type (Concentrates, Isolates, Textured), Form (Dry, Liquid), Nature (Conventional, organic), Application - Global Forecast to 2029
出版MarketsandMarkets
出版年月2024年5月
ページ数373
図表数508
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The global market for plant-based protein is estimated to be valued at USD 14.2 billion in 2024 and is projected to reach USD 20.5 billion by 2029, at a CAGR of 8.1% during the forecast period.

植物由来タンパク質の世界市場は、2024 年に 142 億米ドルと推定され、予測期間中の CAGR は 8.1% で、2029 年までに 205 億米ドルに達すると予測されています。

The surge in demand for plant-based protein is driven by several key factors, notably the increasing consumer preference for natural and clean-label ingredients in food and beverages. As individuals prioritize health, there’s a growing desire for products perceived as natural and nutritious. Plant-based proteins derived from sources such as soy, peas, and lentils align perfectly with this trend. Not only do they serve as natural additives, but they also offer functional benefits, making them appealing for incorporation into a diverse range of food and beverage offerings.

植物性タンパク質市場 : 2029年までの世界予測
Moreover, there’s a heightened awareness and adoption of plant-based diets among consumers, emphasizing the importance of protein-rich plant sources. Plant-based protein diets are recognized for their various health advantages, including enhanced weight management, better digestive health, and a reduced risk of chronic ailments like heart disease and diabetes. Plant-based proteins, such as those derived from legumes, nuts, and seeds, fulfill this need while also offering sustainable and ethical alternatives to animal-based proteins, further driving their popularity in the market.

“The conventional segment is projected to dominate the market in the nature segment during the forecast period.”
Plant-based protein has gained immense popularity in today’s market, with an increasing number of consumers turning away from animal-derived protein sources in favor of plant-based alternatives. This shift has sparked a surge in demand for plant-based protein products. Notably, conventional crops generally boast slightly higher protein levels compared to organic crops, attributed to the use of fertilizers, pesticides, and other synthetic chemicals in conventional farming practices. Consequently, conventional plant-based protein sources are better equipped to meet the rising demand for such products.
Consumers have voiced concerns regarding health issues and allergic reactions associated with soy and wheat, prompting manufacturers of plant-based protein to innovate their offerings. In January 2022, NuCiser, a US-based company, unveiled a range of chickpea protein products as a more sustainable and economically viable substitute for traditional plant-based proteins. These products are characterized by their high protein content and gluten-free nature. The company spokesperson emphasized their objective to position chickpea protein as a compelling alternative to conventional sources like soy, wheat, and peas. As the demand for plant-based protein continues to soar, companies are increasingly investing in research and development to diversify their product offerings and address consumer preferences and concerns. Beyond chickpeas, other novel plant sources such as hemp, algae, and quinoa are gaining traction for their nutritional benefits and sustainability credentials. Moreover, advancements in food technology are enabling the creation of plant-based protein products with improved taste, texture, and functionality, further driving consumer acceptance and market growth. With ongoing innovation and expansion in the plant-based protein sector, the future holds promising opportunities for both consumers and manufacturers alike.

植物性タンパク質市場 : 2029年までの世界予測 ecosystem

“The concentrates sub-segment in the type of segment is estimated to grow at a significant CAGR during the forecast period.”
Plant-based protein concentrates are experiencing a surge in demand within the plant-based protein market. As consumers increasingly prioritize health, sustainability, and ethical considerations, they are turning to plant-based alternatives for their protein needs. These concentrates, derived from various plant sources such as soy, pea, and wheat, offer a rich nutritional profile, boasting high protein content along with essential vitamins, minerals, and fiber. Moreover, they cater to diverse dietary preferences and restrictions, including vegan, vegetarian, and flexitarian lifestyles. As a result, food manufacturers are integrating plant-based protein concentrates into a wide array of products, ranging from meat substitutes to sports nutrition supplements, to meet the growing demand for sustainable and nutritious food options.
In November 2022, Ingredion Incorporated (US) entered into an exclusive commercial distribution partnership with InnovoPro (Canada), a pioneering company in plant-based protein innovation. This strategic alliance aimed to introduce a chickpea protein concentrate to the US and Canadian markets, aligning with the escalating consumer demand for sustainable, nutritious, and flavorful plant-based products. Harnessing the nutritional prowess of chickpeas, renowned for their protein-rich composition and versatility, this collaboration promised to offer a compelling alternative for consumers seeking plant-based protein sources. By leveraging Ingredion’s extensive distribution network and market expertise alongside InnovoPro’s cutting-edge technology, the partnership signaled a significant advancement in providing accessible and high-quality plant-based protein solutions to meet evolving consumer preferences.

“Europe has consistently held a substantial market share within the plant-based protein sector during the period studied.”
The European region stands at the forefront of the burgeoning plant-based protein market, showcasing robust growth and evolving consumer preferences. With an increasing emphasis on health consciousness, environmental sustainability, and ethical considerations, European consumers are gravitating towards plant-based protein alternatives over traditional animal-derived sources. This shift in dietary patterns is fueled by a growing awareness of the health benefits associated with plant-based diets, including reduced risk of chronic diseases and improved environmental sustainability. Consequently, the plant-based protein market in Europe has witnessed significant expansion, with a plethora of innovative products flooding the market to cater to diverse consumer needs and preferences.
Moreover, the rising trend of plant-based protein adoption is not confined to human consumption alone but extends to animal feed as well. As concerns surrounding the environmental impact and ethical considerations of livestock rearing continue to mount, there is a growing demand for sustainable alternatives in animal agriculture. Plant protein-based animal feed offers a viable solution, serving as a nutritious and eco-friendly substitute for conventional feed ingredients derived from animal sources. This trend is further propelled by regulatory initiatives aimed at promoting sustainable agriculture and reducing the ecological footprint of livestock production. As a result, the European market for plant-based protein-based animal feed is witnessing steady growth, presenting lucrative opportunities for stakeholders across the agricultural value chain.

The break-up of the profile of primary participants in the plant-based protein market:
• By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
• By Designation: CXO’s – 20%, Managers – 50%, Executives- 30%
• By Region: North America – 25%, Europe – 20%, Asia Pacific – 30%, South America – 15% and Rest of the World –10%

植物性タンパク質市場 : 2029年までの世界予測 region

Prominent companies ADM (US), Cargill (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Roquette Frères (France), Wilmar International Ltd. (Singapore), Glanbia plc (Ireland), Kerry Group PLC (Ireland), DSM (Netherlands), AGT Food and Ingredients (Canada), Burcon NutraScience Corporation (Canada), Emsland Group (Germany), PURIS (US), COSUCRA (Belgium), Tate & Lyle (UK).
Other players include BENEO GmbH (Germany), SOTEXPRO (France), Shandong Jianyuan group (China), AMCO Proteins (US), Axiom Foods, Inc (US), Aminola (Netherlands), The Green Labs LLC. (US), Australian Plant Proteins Pty Ltd (Australia), ETChem (China), PROEON (India), Nutraferma, Inc. (US), MycoTechnology (US), European Protein A/S (Denmark), naVitalo (Germany), Bioway Organic Group Limited (China).

Research Coverage:
This research report categorizes the plant-based protein market by Source (soy, wheat, pea, oats, canola rice & potato, beans & seeds, fermented protein, and other sources), by Type (concentrates, isolates, textured), by Form (dry, liquid), by Nature (conventional, organic), by application (food & beverages, feed) and by region (North America, Europe, Asia Pacific, South America, RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the plant-based protein market. A detailed analysis of the key industry players has been done to provide insights into their business overview, services, key strategies, contracts, partnerships, and agreements. New service launches, mergers and acquisitions, and recent developments associated with the plant-based protein market. Competitive analysis of upcoming startups in the plant-based protein market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall plant-based protein market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (Growing interest in health-centric food and beverages), restraints (Possibilities of nutritional & vitamin deficiencies among vegans), opportunities (Effective marketing strategies and correct positioning of plant-based proteins), and challenges (Concerns regarding taste and texture of plant-based protein) influencing the growth of the plant-based protein market.
• New product launch/Innovation: Detailed insights on research & development activities and new product launches in the plant-based protein market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the plant-based protein market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the plant-based protein market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like ADM (US), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Roquette Frères (France) and others in the plant-based protein market strategies.

Table of Contents

1            INTRODUCTION            51

1.1         STUDY OBJECTIVES      51

1.2         MARKET DEFINITION   52

1.3         STUDY SCOPE  52

1.3.1      MARKET SEGMENTATION         53

1.3.2      INCLUSIONS & EXCLUSIONS     53

1.3.3      REGIONS COVERED      54

1.4         YEARS CONSIDERED     55

1.5         CURRENCY CONSIDERED          55

TABLE 1             USD EXCHANGE RATES, 2019–2023         56

1.6         UNIT CONSIDERED       56

1.7         STAKEHOLDERS            56

1.8         SUMMARY OF CHANGES            57

1.8.1      RECESSION IMPACT ANALYSIS 57

2            RESEARCH METHODOLOGY     58

2.1         RESEARCH DATA           58

FIGURE 1           PLANT-BASED PROTEIN MARKET: RESEARCH DESIGN  58

2.1.1      SECONDARY DATA       59

2.1.1.1   Key data from secondary sources     59

2.1.2      PRIMARY DATA 59

2.1.2.1   Key data from primary sources         60

2.1.2.2   Breakdown of primary profiles         60

FIGURE 2           BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,  AND REGION  60

2.1.2.3   Key insights from industry experts   61

2.2         MARKET SIZE ESTIMATION       61

2.2.1      TOP-DOWN APPROACH             62

FIGURE 3           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       62

2.2.2      SUPPLY-SIDE ANALYSIS             62

FIGURE 4           PLANT-BASED PROTEIN MARKET SIZE CALCULATION: SUPPLY SIDE    63

2.2.3      BOTTOM-UP APPROACH (DEMAND SIDE)         63

FIGURE 5           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       64

2.3         DATA TRIANGULATION AND MARKET BREAKUP           65

FIGURE 6           DATA TRIANGULATION             65

2.4         RESEARCH ASSUMPTIONS         66

2.5         LIMITATIONS & RISK ASSESSMENT        66

2.6         RECESSION IMPACT ANALYSIS 67

2.6.1      MACROECONOMIC INDICATORS OF RECESSION            68

FIGURE 7           MACROECONOMIC INDICATORS OF RECESSION            68

FIGURE 8           GLOBAL INFLATION RATE, 2011–2022   68

FIGURE 9           GLOBAL GDP, 2011–2022 (USD TRILLION)          69

FIGURE 10         RECESSION INDICATORS AND THEIR IMPACT ON PLANT-BASED PROTEIN MARKET          70

FIGURE 11         GLOBAL PLANT-BASED PROTEIN MARKET: EARLIER FORECAST VS.  RECESSION FORECAST 71

3            EXECUTIVE SUMMARY 72

TABLE 2             PLANT-BASED PROTEIN MARKET SNAPSHOT, 2024 VS. 2029 (USD MILLION) 73

FIGURE 12         PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION) 74

FIGURE 13         PLANT-BASED PROTEIN MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)          74

FIGURE 14         PLANT-BASED PROTEIN MARKET, BY NATURE, 2024 VS. 2029 (USD MILLION) 75

FIGURE 15         PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024 VS. 2029 (USD MILLION)     75

FIGURE 16         PLANT-BASED PROTEIN MARKET, BY FORM, 2024 VS. 2029              76

FIGURE 17         PLANT-BASED PROTEIN MARKET SHARE AND GROWTH RATE,  BY REGION, 2024 (BY VALUE)    76

4            PREMIUM INSIGHTS      78

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PLANT-BASED PROTEIN MARKET         78

FIGURE 18         CONSUMER PREFERENCES FOR HEALTHY AND NUTRITIONAL PROTEIN  SOURCES TO DRIVE PLANT-BASED PROTEIN MARKET         78

4.2         NORTH AMERICA: PLANT-BASED PROTEIN MARKET,  BY APPLICATION AND COUNTRY  79

FIGURE 19         US AND FOOD & BEVERAGES SEGMENT TO ACCOUNT FOR SIGNIFICANT  SHARE IN 2024   79

4.3         PLANT-BASED PROTEIN MARKET, BY TYPE       79

FIGURE 20         CONCENTRATES SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       79

4.4         PLANT-BASED PROTEIN MARKET, BY SOURCE  80

FIGURE 21         SOY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD              80

4.5         PLANT-BASED PROTEIN MARKET, BY FORM      80

FIGURE 22         DRY SEGMENT TO LEAD MARKET DURING FORECAST PERIOD              80

4.6         PLANT-BASED PROTEIN MARKET, BY NATURE 81

FIGURE 23         CONVENTIONAL SEGMENT TO ACCOUNT FOR LARGER SHARE DURING  FORECAST PERIOD   81

4.7         PLANT-BASED PROTEIN MARKET, BY APPLICATION AND REGION              81

FIGURE 24         FOOD & BEVERAGES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       81

4.8         PLANT-BASED PROTEIN MARKET: REGIONAL SNAPSHOT          82

FIGURE 25         US TO DOMINATE PLANT-BASED PROTEIN MARKET IN 2024              82

5            MARKET OVERVIEW     83

5.1         INTRODUCTION            83

5.2         MACROECONOMIC INDICATORS           84

5.2.1      GLOBAL PRODUCTION OF PEA CROPS AND GREEN PEAS  AND BOOST IN INNOVATION             84

FIGURE 26         GLOBAL PRODUCTION OF CHICKPEAS AND GREEN PEAS,  2018–2022 (MILLION TONNES)  84

FIGURE 27         GLOBAL PEA PRODUCTION, BY COUNTRY, 2021 (MILLION TONNES)           84

5.2.2      INCREASE IN SOYBEAN PRODUCTION  85

FIGURE 28         SOYBEAN PRODUCTION, BY KEY COUNTRY,  2018–2023 (MILLION METRIC TONS)          85

5.2.3      CONSUMER SHIFT TOWARD PLANT-BASED NUTRITION            86

5.3         MARKET DYNAMICS     86

FIGURE 29         PLANT-BASED PROTEIN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    87

5.3.1      DRIVERS            87

5.3.1.1   Growing interest in health-centric food and beverages 87

5.3.1.2   Growth in consumer preferences toward veganism      88

5.3.1.3   Rise in cases of lactose intolerance   88

TABLE 3             PERCENTAGE OF LACTOSE-INTOLERANT PEOPLE, BY ETHNICITY       89

5.3.1.4   Increased preference for meat alternatives     89

5.3.1.5   Innovation and developments related to plant-based protein to augment vegan trend      89

5.3.2      RESTRAINTS     90

5.3.2.1   Allergies associated with plant-based protein sources   90

5.3.2.2   Nutritional and vitamin deficiencies among vegans      90

5.3.3      OPPORTUNITIES           91

5.3.3.1   Focus on aquatic plants as new and emerging sources of protein 91

5.3.3.2   Effective marketing strategies and correct positioning of plant-based proteins              91

5.3.3.3   Lifestyle changes 92

5.3.4      CHALLENGES   92

5.3.4.1   Concerns over quality of food and beverages due to adulteration of GM ingredients              92

5.3.4.2   Economic constraints         93

5.3.4.3   Concerns related to taste and texture offered by plant-based protein        93

6            INDUSTRY TRENDS       94

6.1         INTRODUCTION            94

6.2         SUPPLY CHAIN ANALYSIS          94

FIGURE 30         PLANT-BASED PROTEIN MARKET: SUPPLY CHAIN ANALYSIS              94

6.3         VALUE CHAIN ANALYSIS            95

FIGURE 31         PLANT-BASED PROTEIN MARKET: VALUE CHAIN ANALYSIS              95

6.3.1      RESEARCH & PRODUCT DEVELOPMENT            96

6.3.2      RAW MATERIAL SOURCING       96

6.3.3      PRODUCTION & PROCESSING  96

6.3.4      DISTRIBUTION 96

6.3.5      MARKETING & SALES    97

6.3.6      END USERS       97

6.4         TRADE ANALYSIS          97

6.4.1      IMPORT SCENARIO OF SOYBEANS         97

FIGURE 32         IMPORT OF SOYBEANS, BY KEY COUNTRY, 2019–2023 (USD)              98

TABLE 4             IMPORT SCENARIO FOR HS CODE: 1201, BY COUNTRY, 2021–2023 (USD)        98

6.4.2      EXPORT SCENARIO OF SOYBEANS         98

FIGURE 33         EXPORT OF SOYBEANS, BY KEY COUNTRY, 2019–2023 (USD)              99

TABLE 5             EXPORT SCENARIO FOR HS CODE: 1201, BY COUNTRY, 2021–2023 (USD)        99

6.4.3      IMPORT SCENARIO OF PEAS     99

FIGURE 34         IMPORT OF PEAS, BY KEY COUNTRY, 2019–2023 (USD)  100

TABLE 6             IMPORT SCENARIO FOR HS CODE: 071310, BY COUNTRY, 2021–2023 (USD)        100

6.4.4      EXPORT SCENARIO OF PEAS     100

FIGURE 35         EXPORT OF PEAS, BY KEY COUNTRY, 2019–2023 (USD)  101

TABLE 7             EXPORT SCENARIO FOR HS CODE: 071310, BY COUNTRY, 2021–2023 (USD)        101

6.4.5      IMPORT SCENARIO OF WHEAT & MESLIN          101

FIGURE 36         IMPORT OF WHEAT & MESLIN, BY KEY COUNTRY, 2019–2023 (USD)   102

TABLE 8             IMPORT SCENARIO FOR HS CODE: 1001, BY COUNTRY, 2021–2023 (USD)        102

6.4.6      EXPORT SCENARIO OF WHEAT & MESLIN          102

FIGURE 37         EXPORT OF WHEAT & MESLIN, BY KEY COUNTRY, 2019–2023 (USD)   103

TABLE 9             EXPORT SCENARIO FOR HS CODE: 1001, BY COUNTRY, 2021–2023 (USD)        103

6.4.7      IMPORT SCENARIO OF RICE      103

FIGURE 38         IMPORT OF RICE, BY KEY COUNTRY, 2019–2023 (USD)   104

TABLE 10           IMPORT SCENARIO FOR HS CODE: 1006, BY COUNTRY, 2021–2023 (USD)        104

6.4.8      EXPORT SCENARIO OF RICE      104

FIGURE 39         EXPORT OF RICE, BY KEY COUNTRY, 2019–2023 (USD)   105

TABLE 11           EXPORT SCENARIO FOR HS CODE: 1006, BY COUNTRY, 2021–2023 (USD)        105

6.4.9      IMPORT SCENARIO OF OATS    105

FIGURE 40         IMPORT OF OATS, BY KEY COUNTRY, 2019–2023 (USD) 106

TABLE 12           IMPORT SCENARIO FOR HS CODE: 1004, BY COUNTRY, 2021–2023 (USD)        106

6.4.10    EXPORT SCENARIO OF OATS    106

FIGURE 41         EXPORT OF OATS, BY KEY COUNTRY, 2019–2023 (USD) 107

TABLE 13           EXPORT SCENARIO FOR HS CODE: 1004, BY COUNTRY, 2021–2023 (USD)        107

6.4.11    IMPORT SCENARIO OF MUSHROOMS    107

FIGURE 42         IMPORT OF MUSHROOMS, BY KEY COUNTRY, 2019–2023 (USD)              108

TABLE 14           IMPORT SCENARIO FOR HS CODE: 2003, BY COUNTRY, 2021–2023 (USD)        108

6.4.12    EXPORT SCENARIO OF MUSHROOMS    109

FIGURE 43         EXPORT OF MUSHROOMS, BY KEY COUNTRY, 2019–2023 (USD)              109

TABLE 15           EXPORT SCENARIO FOR HS CODE: 2003, BY COUNTRY, 2021–2023 (USD)        109

6.5         TECHNOLOGY ANALYSIS           110

6.5.1      KEY TECHNOLOGIES    110

6.5.1.1   Extrusion             110

6.5.2      COMPLIMENTARY TECHNOLOGIES      110

6.5.2.1   High-Pressure Processing (HPP)    110

6.5.3      ADJACENT TECHNOLOGIES      110

6.5.3.1   Wet processing method for producing dairy milk alternative      110

6.6         PRICING ANALYSIS        111

6.6.1      AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOURCE              111

FIGURE 44        AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOURCE, 2023 (USD/KG) 111

TABLE 16          AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOURCE, 2023 (USD/KG) 112

6.6.2      AVERAGE SELLING PRICE TREND, BY REGION  112

FIGURE 45         AVERAGE SELLING PRICE TREND, BY REGION, 2019–2023 (USD/KG)          112

TABLE 17           AVERAGE SELLING PRICE TREND, BY REGION, 2019–2023 (USD/KG)          112

6.6.3      AVERAGE SELLING PRICE TREND, BY SOURCE  113

FIGURE 46         AVERAGE SELLING PRICE TREND, BY SOURCE, 2019–2023 (USD/KG)          113

TABLE 18           AVERAGE SELLING PRICE TREND, BY SOURCE, 2019–2023 (USD/KG)          113

6.7         ECOSYSTEM     114

6.7.1      DEMAND SIDE  114

6.7.2      SUPPLY SIDE    114

FIGURE 47         KEY PLAYERS IN PLANT-BASED PROTEIN MARKET        115

TABLE 19           PLANT-BASED PROTEIN MARKET: ECOSYSTEM 115

6.8         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 116

6.8.1      TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 116

FIGURE 48         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES              117

6.9         PATENT ANALYSIS        117

TABLE 20           LIST OF MAJOR PATENTS PERTAINING TO PLANT-BASED PROTEIN MARKET, 2014–2024    117

FIGURE 49        NUMBER OF PATENTS GRANTED FOR PLANT-BASED PROTEIN, 2014–2024          120

FIGURE 50         REGIONAL ANALYSIS OF PATENTS GRANTED FOR PLANT-BASED PROTEIN            120

6.10       KEY CONFERENCES & EVENTS, 2024–2025           121

TABLE 21           PLANT-BASED PROTEIN MARKET: LIST OF KEY CONFERENCES & EVENTS, 2024–2025     121

6.11       REGULATORY LANDSCAPE       121

6.11.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          121

TABLE 22           NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         121

TABLE 23           EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 122

TABLE 24           ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         122

TABLE 25           SOUTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         122

TABLE 26           REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         123

6.11.2    REGULATORY FRAMEWORK     123

6.11.2.1 North America     123

6.11.2.2 Europe  125

6.11.2.3 Asia Pacific          127

6.12       PORTER’S FIVE FORCES ANALYSIS         128

TABLE 27           PORTER’S FIVE FORCES ANALYSIS         128

FIGURE 51         PORTER’S FIVE FORCES ANALYSIS         129

6.12.1    THREAT OF NEW ENTRANTS    129

6.12.2    THREAT OF SUBSTITUTES         129

6.12.3    BARGAINING POWER OF SUPPLIERS     130

6.12.4    BARGAINING POWER OF BUYERS           130

6.12.5    INTENSITY OF COMPETITIVE RIVALRY 130

6.13       KEY STAKEHOLDERS & BUYING CRITERIA          131

6.13.1    KEY STAKEHOLDERS IN BUYING PROCESS         131

FIGURE 52         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES   131

TABLE 28           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES   132

6.13.2    BUYING CRITERIA         132

TABLE 29           KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS  132

FIGURE 53         KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS  132

6.14       CASE STUDY ANALYSIS 133

6.14.1    BLUE DIAMOND GROWERS PARTNERED WITH GROUP LALA TO ESTABLISH NETWORK IN MEXICO         133

6.14.2    KERRY GROUP PLC REVOLUTIONIZED PLANT-BASED PRODUCTS  IN ASIA PACIFIC MARKET 133

6.14.3    ADM OFFERED NEW PLANT-BASED PROTEINS TO MEET GROWING CONSUMER DEMAND   134

6.14.4    GLANBIA LAUNCHED ITS GRAIN PORTFOLIO TO ADDRESS CONSUMERS’ RISING HEALTH CONCERNS         134

6.15       EMERGING PROTEIN SOURCE – SESAME PROTEIN         134

7            PLANT-BASED PROTEIN MARKET, BY APPLICATION     137

7.1         INTRODUCTION            138

FIGURE 54         PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024 VS. 2029 (USD MILLION)     138

TABLE 30           PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 138

TABLE 31           PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 139

7.2         FOOD & BEVERAGES     139

7.2.1      INCREASED CONSUMPTION OF PLANT-BASED MEAT AND DAIRY ALTERNATIVES TO BOOST ADOPTION OF PLANT-BASED PROTEIN      139

TABLE 32           FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     140

TABLE 33           FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     140

TABLE 34           FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY SUBAPPLICATION, 2019–2023 (USD MILLION)    140

TABLE 35           FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY SUBAPPLICATION,  2024–2029 (USD MILLION) 141

7.2.2      MEAT ALTERNATIVES  141

7.2.3      DAIRY ALTERNATIVES 142

FIGURE 55         GLOBAL PLANT-BASED MILK SALES GROWTH, 2016–2022 (USD MILLION)          142

7.2.4      BAKERY PRODUCTS      143

7.2.5      PERFORMANCE NUTRITION     143

7.2.6      CONVENIENCE FOOD   144

7.2.7      OTHER FOOD & BEVERAGE APPLICATIONS       144

7.3         FEED    144

7.3.1      GROWING DEMAND FOR CLEAN-LABEL AND SUSTAINABLE FEED PRODUCTS TO DRIVE PLANT-BASED PROTEIN MARKET            144

TABLE 36           FEED: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)     145

TABLE 37           FEED: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)     145

8            PLANT-BASED PROTEIN MARKET, BY FORM      146

8.1         INTRODUCTION            147

FIGURE 56         PLANT-BASED PROTEIN MARKET, BY FORM, 2024 VS. 2029 (USD MILLION)          147

TABLE 38           PLANT-BASED PROTEIN MARKET, BY FORM, 2019–2023 (USD MILLION)          147

TABLE 39           PLANT-BASED PROTEIN MARKET, BY FORM, 2024–2029 (USD MILLION)          147

8.2         DRY      148

8.2.1      APPLICATION OF DRY PLANT-BASED PROTEIN IN FOOD & BEVERAGE PRODUCTS TO DRIVE MARKET GROWTH          148

TABLE 40           DRY: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 148

TABLE 41           DRY: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 148

8.3         LIQUID 149

8.3.1      HIGH PROTEIN REQUIREMENTS IN NUTRITIONAL SUPPLEMENTS TO DRIVE DEMAND FOR LIQUID PLANT-BASED PROTEIN  149

TABLE 42           LIQUID: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)     149

TABLE 43           LIQUID: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)     150

9            PLANT-BASED PROTEIN MARKET, BY NATURE 151

9.1         INTRODUCTION            152

FIGURE 57         PLANT-BASED PROTEIN MARKET, BY NATURE, 2024 VS. 2029 (USD MILLION) 152

TABLE 44           PLANT-BASED PROTEIN MARKET, BY NATURE, 2019–2023 (USD MILLION)          152

TABLE 45           PLANT-BASED PROTEIN MARKET, BY NATURE, 2024–2029 (USD MILLION)          153

9.2         CONVENTIONAL           153

9.2.1      GROWING UTILIZATION OF PLANT-BASED FOOD PRODUCTS IN FOOD AND FEED INDUSTRIES TO STIMULATE MARKET EXPANSION    153

TABLE 46           CONVENTIONAL: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     153

TABLE 47           CONVENTIONAL: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     154

9.3         ORGANIC          154

9.3.1      GROWTH OF ORGANIC PLANT-BASED PROTEIN PRODUCTS TO BE FUELED BY RISING DEMAND FOR CLEAN-LABEL INGREDIENTS             154

TABLE 48           ORGANIC: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)          155

TABLE 49           ORGANIC: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)          155

10          PLANT-BASED PROTEIN MARKET, BY TYPE       156

10.1       INTRODUCTION            157

FIGURE 58         PLANT-BASED PROTEIN MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)          157

TABLE 50           PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION)          157

TABLE 51           PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION)          158

TABLE 52           SOY: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION) 158

TABLE 53           SOY: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION) 158

TABLE 54           WHEAT: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION) 158

TABLE 55           WHEAT: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION) 159

TABLE 56           PEAS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION) 159

TABLE 57           PEAS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION) 159

TABLE 58           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY TYPE,  2019–2023 (USD MILLION)           159

TABLE 59           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY TYPE,  2024–2029 (USD MILLION)           160

TABLE 60           BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION)          160

TABLE 61           BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION)          160

TABLE 62           FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE,  2019–2023 (USD MILLION)          160

TABLE 63           FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE,  2024–2029 (USD MILLION)          161

TABLE 64           OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023(USD MILLION)           161

TABLE 65           OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION)          161

10.2       CONCENTRATES           161

10.2.1    APPLICATION OF CONCENTRATES ACROSS FOOD AND NUTRITION SUPPLEMENTS TO DRIVE DEMAND      161

TABLE 66           CONCENTRATES: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    162

TABLE 67           CONCENTRATES: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    162

10.3       ISOLATES          163

10.3.1    APPLICATION OF PLANT-PROTEIN ISOLATES IN INFANT FOOD PRODUCTS TO DRIVE GROWTH            163

TABLE 68           ISOLATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          163

TABLE 69           ISOLATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          164

10.4       TEXTURED       164

10.4.1    GROWING HEALTH CONCERNS TO DRIVE PREFERENCE FOR  PLANT-BASED MEAT    164

TABLE 70           TEXTURED: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          165

TABLE 71           TEXTURED: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          165

11          PLANT-BASED PROTEIN MARKET, BY SOURCE  166

11.1       INTRODUCTION            167

FIGURE 59         PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION) 167

TABLE 72           PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          167

TABLE 73           PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          168

TABLE 74           PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT)              168

TABLE 75           PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT)              168

11.2       SOY       169

11.2.1    SURGE IN DEMAND FOR PLANT-BASED PROTEIN ALTERNATIVES AND INCREASING SOY EXPORTS TO LEAD TO MARKET GROWTH     169

TABLE 76           SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 169

TABLE 77           SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 169

TABLE 78           SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)      170

TABLE 79           SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)      170

11.3       WHEAT 170

11.3.1    EXCELLENT BINDING CHARACTERISTICS OF WHEAT COUPLED  WITH ITS INCREASED USAGE IN ALTERNATIVE MEAT PRODUCTS  TO DRIVE GROWTH          170

TABLE 80           WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)     171

TABLE 81           WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)     171

TABLE 82           WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)           172

TABLE 83           WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)           172

11.4       PEAS     172

11.4.1    RAPID SHIFT IN PREFERENCES OF CONSUMERS FROM TRADITIONAL SOURCES OF PLANT-BASED PROTEIN TO SPUR DEMAND          172

TABLE 84           PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 173

TABLE 85           PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 173

TABLE 86           PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)      173

TABLE 87           PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)      174

TABLE 88           PEAS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2019–2023 (USD MILLION) 174

TABLE 89           PEAS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2024–2029 (USD MILLION) 174

11.4.2    YELLOW SPLIT PEAS     174

TABLE 90           YELLOW SPLIT PEAS: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     175

TABLE 91           YELLOW SPLIT PEAS: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     175

11.4.3    CHICKPEAS       175

TABLE 92           CHICKPEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)          176

TABLE 93           CHICKPEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)          176

11.4.4    LENTILS            177

TABLE 94           LENTILS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)     177

TABLE 95           LENTILS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)     177

11.5       CANOLA, RICE, OATS, AND POTATOES 178

11.5.1    GROWING CONSUMER INTEREST IN TRADITIONAL PLANT-BASED PROTEIN PRODUCTS TO BOOST MARKET         178

TABLE 96           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)      178

TABLE 97           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)      179

TABLE 98           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (KT)            179

TABLE 99           CANOLA, RICE, OATS, AND POTATOES: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (KT)            179

11.6       BEANS & SEEDS 180

11.6.1    RISING DEMAND FOR HEMP PROTEIN AND SUNFLOWER SEED PROTEIN AS EFFECTIVE TOOLS AGAINST CARDIOVASCULAR DISEASES TO DRIVE GROWTH            180

TABLE 100        BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)          180

TABLE 101        BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)          180

TABLE 102        BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT) 181

TABLE 103        BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT) 181

11.7       FERMENTED PROTEIN 181

11.7.1    FLAVOR OF FERMENTED PLANT-BASED PROTEIN TO SURGE  ITS DEMAND           181

TABLE 104         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     182

TABLE 105         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     182

TABLE 106         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)             182

TABLE 107         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)             183

TABLE 108         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE,  2019–2023 (USD MILLION)          183

TABLE 109         FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE,  2024–2029 (USD MILLION)          183

11.7.2    SOY       184

TABLE 110         SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 184

TABLE 111         SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 184

11.7.3    PEAS     185

TABLE 112         PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 185

TABLE 113         PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 185

11.7.4    RICE     185

TABLE 114         RICE: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION) 186

TABLE 115         RICE: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION) 186

11.7.5    OTHER FERMENTED PROTEIN TYPES   186

TABLE 116         OTHER FERMENTED PROTEIN TYPES: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)      187

TABLE 117         OTHER FERMENTED PROTEIN TYPES: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)      187

11.8       OTHER SOURCES           187

TABLE 118         OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     188

TABLE 119         OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     188

TABLE 120         OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)             188

TABLE 121         OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)             189

12          PLANT-BASED PROTEIN MARKET, BY REGION  190

12.1       INTRODUCTION            191

FIGURE 60         JAPAN TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD              192

TABLE 122         PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (USD MILLION)          192

TABLE 123         PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (USD MILLION)          192

TABLE 124         PLANT-BASED PROTEIN MARKET, BY REGION, 2019–2023 (KT)              193

TABLE 125         PLANT-BASED PROTEIN MARKET, BY REGION, 2024–2029 (KT)              193

12.2       NORTH AMERICA          193

FIGURE 61         NORTH AMERICAN PLANT-BASED PROTEIN MARKET SNAPSHOT        194

12.2.1    NORTH AMERICA: RECESSION IMPACT ANALYSIS          194

FIGURE 62         NORTH AMERICA: INFLATION RATE, BY COUNTRY, 2017–2022              195

FIGURE 63         NORTH AMERICA: RECESSION IMPACT ANALYSIS          196

TABLE 126         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2019–2023 (USD MILLION) 196

TABLE 127         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2024–2029 (USD MILLION) 196

TABLE 128         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    197

TABLE 129         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    197

TABLE 130         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT)             197

TABLE 131         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT)             198

TABLE 132        NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2019–2023 (USD MILLION)    198

TABLE 133        NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2024–2029 (USD MILLION)    198

TABLE 134         NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)       199

TABLE 135         NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       199

TABLE 136         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2019–2023 (USD MILLION)        199

TABLE 137         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024–2029 (USD MILLION)        199

TABLE 138        NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM,  2019–2023 (USD MILLION)          200

TABLE 139        NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM,  2024–2029 (USD MILLION)          200

TABLE 140         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE,  2019–2023 (USD MILLION)    200

TABLE 141         NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE,  2024–2029 (USD MILLION)    200

12.2.2    US         201

12.2.2.1 Rise in awareness regarding environmental and personal health benefits to drive preference for plant-based ingredients           201

TABLE 142         US: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION) 202

TABLE 143         US: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION) 202

TABLE 144         US: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 202

TABLE 145         US: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 203

12.2.3    CANADA            203

12.2.3.1 Capitalization on large-scale shift toward flexitarian diets by prominent players to drive production of plant-based protein         203

TABLE 146         CANADA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     204

TABLE 147         CANADA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     204

TABLE 148         CANADA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 204

TABLE 149         CANADA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 205

12.2.4    MEXICO             205

12.2.4.1 Evolving consumer preferences and increasing demand for nutritious pet food to stimulate market growth    205

TABLE 150         MEXICO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     206

TABLE 151         MEXICO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     206

TABLE 152         MEXICO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 206

TABLE 153         MEXICO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 207

12.3       EUROPE             207

12.3.1    EUROPE: RECESSION IMPACT ANALYSIS            208

FIGURE 64         EUROPE: INFLATION RATE, BY COUNTRY, 2017–2022     209

FIGURE 65         EUROPE: RECESSION IMPACT ANALYSIS            209

TABLE 154         EUROPE: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2019–2023 (USD MILLION)          210

TABLE 155         EUROPE: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          210

TABLE 156         EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     211

TABLE 157         EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE,2024–2029 (USD MILLION)     211

TABLE 158         EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT)           211

TABLE 159         EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT)           212

TABLE 160        EUROPE: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2019–2023 (USD MILLION)          212

TABLE 161        EUROPE: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2024–2029 (USD MILLION)          212

TABLE 162         EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 213

TABLE 163         EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 213

TABLE 164         EUROPE: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2019–2023 (USD MILLION)          213

TABLE 165         EUROPE: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2024–2029 (USD MILLION)          213

TABLE 166         EUROPE: PLANT-BASED PROTEIN MARKET, BY FORM, 2019–2023 (USD MILLION)     214

TABLE 167         EUROPE: PLANT-BASED PROTEIN MARKET, BY FORM, 2024–2029 (USD MILLION)     214

TABLE 168         EUROPE: PLANT-BASED PROTEIN MARKET, BY NATURE, 2019–2023 (USD MILLION)     214

TABLE 169         EUROPE: PLANT-BASED PROTEIN MARKET, BY NATURE, 2024–2029 (USD MILLION)     214

12.3.2    UK         215

12.3.2.1 Increasing vegan population to drive plant-based protein market             215

TABLE 170         UK: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION) 216

TABLE 171         UK: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION) 216

TABLE 172         UK: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 216

TABLE 173         UK: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 217

12.3.3    GERMANY         217

12.3.3.1 Increasing dependence on plant-based foods and high adoption rate of flexitarian diets to boost growth of plant-based protein  217

TABLE 174         GERMANY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          218

TABLE 175         GERMANY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          218

TABLE 176         GERMANY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    218

TABLE 177         GERMANY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)    219

12.3.4    FRANCE             219

12.3.4.1 Government support to develop domestic plant-based protein production and reduce imports to drive growth        219

TABLE 178         FRANCE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     220

TABLE 179         FRANCE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     220

TABLE 180         FRANCE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 221

TABLE 181         FRANCE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 221

12.3.5    ITALY   221

12.3.5.1 Rapid shift in consumer preferences from conventional to plant-based protein to drive market        221

TABLE 182         ITALY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     222

TABLE 183         ITALY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     222

TABLE 184         ITLAY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 223

TABLE 185         ITLAY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)T           223

12.3.6    SPAIN   223

12.3.6.1 Product innovation and increased consumption of plant-based convenience food products to drive market    223

TABLE 186         SPAIN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     224

TABLE 187         SPAIN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     224

TABLE 188         SPAIN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 225

TABLE 189         SPAIN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 225

12.3.7    NETHERLANDS 225

12.3.7.1 Increasing popularity of plant-based food products due to their health and environmental benefits to drive demand        225

TABLE 190        NETHERLANDS: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)          226

TABLE 191        NETHERLANDS: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)          226

TABLE 192         NETHERLANDS: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    226

TABLE 193         NETHERLANDS: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       227

12.3.8    TURKEY             227

12.3.8.1 Health advantages linked to plant-centered diets to bolster demand for plant-based protein       227

TABLE 194         TURKEY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     227

TABLE 195         TURKEY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     228

TABLE 196         TURKEY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 228

TABLE 197         TURKEY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 228

12.3.9    POLAND            229

12.3.9.1 Evolving consumer preferences and health awareness to spur market growth              229

TABLE 198         POLAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     229

TABLE 199         POLAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     229

TABLE 200         POLAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 230

TABLE 201         POLAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 230

12.3.10  REST OF EUROPE           230

TABLE 202         REST OF EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    231

TABLE 203         REST OF EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    231

TABLE 204         REST OF EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)       231

TABLE 205         REST OF EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       232

12.4       ASIA PACIFIC    232

FIGURE 66         ASIA PACIFIC PLANT-BASED PROTEIN MARKET SNAPSHOT              233

12.4.1    ASIA PACIFIC: RECESSION IMPACT ANALYSIS    233

FIGURE 67         ASIA PACIFIC: INFLATION RATE, BY KEY COUNTRY, 2017–2022              234

FIGURE 68         ASIA PACIFIC: RECESSION IMPACT ANALYSIS    235

TABLE 206        ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2019–2023 (USD MILLION)          235

TABLE 207        ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2024–2029 (USD MILLION)          236

TABLE 208         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          236

TABLE 209         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          237

TABLE 210         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT) 237

TABLE 211         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT) 237

TABLE 212         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2019–2023 (USD MILLION)          238

TABLE 213         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2024–2029 (USD MILLION)          238

TABLE 214         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    238

TABLE 215         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       239

TABLE 216         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY FORM, 2019–2023 (USD MILLION)          239

TABLE 217         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY FORM, 2024–2029 (USD MILLION)          239

TABLE 218         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2019–2023 (USD MILLION)        239

TABLE 219         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024–2029 (USD MILLION)        240

TABLE 220         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY NATURE, 2019–2023 (USD MILLION)          240

TABLE 221         ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY NATURE, 2024–2029 (USD MILLION)          240

12.4.2    CHINA  240

12.4.2.1 Demand for products with health benefits to drive market growth            240

TABLE 222         CHINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     241

TABLE 223         CHINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     242

TABLE 224         CHINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 242

TABLE 225         CHINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE 2024–2029 (USD MILLION)   242

12.4.3    JAPAN  243

12.4.3.1 Ageing population and rising consumption of plant-based convenience foods to drive market growth           243

TABLE 226         JAPAN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     244

TABLE 227         JAPAN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     244

TABLE 228         JAPAN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 244

TABLE 229         JAPAN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 245

12.4.4    AUSTRALIA & NEW ZEALAND   245

12.4.4.1 Investments from key players and rising vegan population to drive growth of plant-based protein       245

TABLE 230         AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)         245

TABLE 231         AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)         246

TABLE 232         AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2019–2023 (USD MILLION)              246

TABLE 233         AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)              246

12.4.5    INDIA   247

12.4.5.1 Evolving dietary preferences and increasing cases of coronary heart diseases to drive demand for plant-based protein            247

TABLE 234         INDIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     247

TABLE 235         INDIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     248

TABLE 236         INDIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 248

TABLE 237         INDIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 248

12.4.6    SOUTH KOREA 249

12.4.6.1 Significant shift toward alternative proteins and rising food safety concerns to spur growth   249

TABLE 238         SOUTH KOREA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)          249

TABLE 239         SOUTH KOREA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)          250

TABLE 240         SOUTH KOREA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)       250

TABLE 241         SOUTH KOREA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       250

12.4.7    INDONESIA       251

12.4.7.1 Growing demand for soy protein in food products and animal feed to boost market expansion            251

TABLE 242         INDONESIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          251

TABLE 243         INDONESIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          251

TABLE 244         INDONESIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    252

TABLE 245         INDONESIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)    252

12.4.8    MALAYSIA         252

12.4.8.1 Influence of Buddhism and Hinduism to contribute to popularity of vegetarianism              252

TABLE 246         MALAYSIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          253

TABLE 247         MALAYSIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          253

TABLE 248         MALAYSIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    254

TABLE 249         MALAYSIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)    254

12.4.9    PHILIPPINES     254

12.4.9.1 Surge in health and wellness trends to persuade people to prefer protein-based food products       254

TABLE 250         PHILIPPINES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          255

TABLE 251         PHILIPPINES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          255

TABLE 252         PHILIPPINES: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)       255

TABLE 253         PHILIPPINES: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       256

12.4.10  VIETNAM          256

12.4.10.1             Environmental issues and concerns related to carbon footprint of animal agriculture to spur growth  256

TABLE 254         VIETNAM: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          256

TABLE 255         VIETNAM: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          257

TABLE 256         VIETNAM: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 257

TABLE 257         VIETNAM: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 257

12.4.11  THAILAND        258

12.4.11.1             Rising awareness regarding environmental impact of meat industry to encourage market growth   258

TABLE 258         THAILAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          258

TABLE 259         THAILAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          258

TABLE 260         THAILAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    259

TABLE 261         THAILAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)    259

12.4.12  REST OF ASIA PACIFIC  259

TABLE 262         REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    260

TABLE 263         REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    260

TABLE 264         REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2019–2023 (USD MILLION)    260

TABLE 265         REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2024–2029 (USD MILLION)    261

12.5       SOUTH AMERICA           261

12.5.1    SOUTH AMERICA: RECESSION IMPACT ANALYSIS          261

FIGURE 69         SOUTH AMERICA: INFLATION RATE, BY KEY COUNTRY, 2017–2022      262

FIGURE 70         SOUTH AMERICA: RECESSION IMPACT ANALYSIS          262

TABLE 266         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2019–2023 (USD MILLION) 263

TABLE 267         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY,  2024–2029 (USD MILLION) 263

TABLE 268         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    263

TABLE 269         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    264

TABLE 270         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT)             264

TABLE 271         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT)             264

TABLE 272         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2019–2023 (USD MILLION)    265

TABLE 273         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2024–2029 (USD MILLION)    265

TABLE 274         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2019–2023 (USD MILLION)    265

TABLE 275         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2024–2029 (USD MILLION)    266

TABLE 276         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2019–2023 (USD MILLION)        266

TABLE 277         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024–2029 (USD MILLION)        266

TABLE 278         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM,  2019–2023 (USD MILLION)          266

TABLE 279         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM,  2024–2029 (USD MILLION)          267

TABLE 280         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE,  2019–2023 (USD MILLION)    267

TABLE 281         SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE,  2024–2029 (USD MILLION)    267

12.5.2    BRAZIL 267

12.5.2.1 Country’s high processing and export capabilities coupled with increased adoption of plant-based foods to drive growth 267

TABLE 282         BRAZIL: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     268

TABLE 283         BRAZIL: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     268

TABLE 284         BRAZIL: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 269

TABLE 285         BRAZIL: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 269

12.5.3    ARGENTINA      269

12.5.3.1 Environmental, nutritional, and animal welfare concerns among youth to drive demand for plant-based protein       269

TABLE 286         ARGENTINA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)          270

TABLE 287         ARGENTINA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)          270

TABLE 288         ARGENTINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION)    271

TABLE 289         ARGENTINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION)    271

12.5.4    REST OF SOUTH AMERICA         271

TABLE 290         REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)             272

TABLE 291         REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)             272

TABLE 292         REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)            272

TABLE 293         REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)            273

12.6       REST OF THE WORLD (ROW)    273

12.6.1    ROW: RECESSION IMPACT ANALYSIS    273

FIGURE 71         ROW: INFLATION RATE, BY KEY COUNTRY, 2017–2022   274

FIGURE 72         ROW: RECESSION IMPACT ANALYSIS, 2022         274

TABLE 294         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY REGION,  2019–2023 (USD MILLION)     274

TABLE 295         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY REGION,  2024–2029 (USD MILLION)     275

TABLE 296         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2019–2023 (USD MILLION)    275

TABLE 297         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY SOURCE,  2024–2029 (USD MILLION)    275

TABLE 298         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (KT)             276

TABLE 299         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (KT)             276

TABLE 300         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2019–2023 (USD MILLION)       276

TABLE 301         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET FOR PEAS, BY TYPE,  2024–2029 (USD MILLION)       277

TABLE 302         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2019–2023 (USD MILLION)    277

TABLE 303         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN,  BY TYPE, 2024–2029 (USD MILLION)    277

TABLE 304         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2019–2023 (USD MILLION)        278

TABLE 305         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY APPLICATION,  2024–2029 (USD MILLION)        278

TABLE 306         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY FORM,  2019–2023 (USD MILLION)         278

TABLE 307         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY FORM,  2024–2029 (USD MILLION)         278

TABLE 308         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY NATURE,  2019–2023 (USD MILLION)    279

TABLE 309         REST OF THE WORLD: PLANT-BASED PROTEIN MARKET, BY NATURE,  2024–2029 (USD MILLION)    279

12.6.2    AFRICA 279

12.6.2.1 Favorable processing conditions coupled with rising consumer awareness regarding health issues to drive growth of plant-based protein   279

TABLE 310         AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)     280

TABLE 311         AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)     280

TABLE 312         AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2019–2023 (USD MILLION) 280

TABLE 313         AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE,  2024–2029 (USD MILLION) 281

12.6.3    MIDDLE EAST  281

12.6.3.1 Demand for plant-based convenience food to drive growth of plant-based protein industry 281

TABLE 314         MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2019–2023 (USD MILLION)          282

TABLE 315         MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2024–2029 (USD MILLION)          282

TABLE 316         MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2019–2023 (USD MILLION)       282

TABLE 317         MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY TYPE, 2024–2029 (USD MILLION)       283

13          COMPETITIVE LANDSCAPE       284

13.1       OVERVIEW        284

13.2       KEY PLAYER STRATEGIES/RIGHT TO WIN          284

TABLE 318         OVERVIEW OF STRATEGIES ADOPTED BY KEY PLANT-BASED PROTEIN MARKET PLAYERS      285

13.3       REVENUE ANALYSIS      287

FIGURE 73         REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD BILLION)           287

13.4       MARKET SHARE ANALYSIS         288

FIGURE 74         MARKET SHARE ANALYSIS, 2023             288

TABLE 319         PLANT-BASED PROTEIN MARKET: MARKET SHARE ANALYSIS, 2023      289

13.4.1    MARKET RANKING ANALYSIS   289

FIGURE 75         RANKING OF TOP FIVE PLAYERS IN PLANT-BASED PROTEIN MARKET            290

13.5       COMPANY VALUATION AND FINANCIAL METRICS        291

FIGURE 76         COMPANY VALUATION FOR SEVEN MAJOR PLAYERS IN PLANT-BASED  PROTEIN MARKET       291

FIGURE 77         EV/EBITDA OF MAJOR PLAYERS             291

13.6       BRAND/PRODUCT COMPARISON          292

FIGURE 78         PLANT-BASED PROTEIN MARKET: BRAND/PRODUCT COMPARISON   292

13.7       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   293

13.7.1    STARS  293

13.7.2    EMERGING LEADERS    293

13.7.3    PERVASIVE PLAYERS     293

13.7.4    PARTICIPANTS 294

FIGURE 79         PLANT-BASED PROTEIN MARKET: COMPANY EVALUATION MATRIX  (KEY PLAYERS), 2023 294

13.7.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      295

FIGURE 80         COMPANY FOOTPRINT 295

TABLE 320         REGIONAL FOOTPRINT             296

TABLE 321         SOURCE FOOTPRINT    296

TABLE 322         APPLICATION FOOTPRINT       297

TABLE 323         TYPE FOOTPRINT         298

13.8       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          299

13.8.1    PROGRESSIVE COMPANIES       299

13.8.2    RESPONSIVE COMPANIES          299

13.8.3    DYNAMIC COMPANIES 299

13.8.4    STARTING BLOCKS       299

FIGURE 81         PLANT-BASED PROTEIN MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023           300

13.8.5    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023             301

TABLE 324         PLANT-BASED PROTEIN MARKET: DETAILED LIST OF KEY STARTUPS/SMES           301

TABLE 325         PLANT-BASED PROTEIN MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES  302

13.9       COMPETITIVE SCENARIO AND TRENDS             303

13.9.1    PRODUCTS LAUNCHES 303

TABLE 326         PLANT-BASED PROTEIN MARKET: PRODUCT LAUNCHES, AUGUST 2020–FEBRUARY 2024  303

13.9.2    DEALS  304

TABLE 327         PLANT-BASED PROTEIN MARKET: DEALS, JANUARY 2020–MAY 2023      304

13.9.3    EXPANSIONS    307

TABLE 328         PLANT-BASED PROTEIN MARKET: EXPANSIONS, AUGUST 2019–APRIL 2022             307

14          COMPANY PROFILES    309

(Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Key strengths, Strategic choices, Weaknesses and competitive threats) *

14.1       KEY PLAYERS   309

14.1.1    CARGILL, INCORPORATED        309

TABLE 329         CARGILL, INCORPORATED: BUSINESS OVERVIEW          309

FIGURE 82         CARGILL, INCORPORATED: COMPANY SNAPSHOT        310

TABLE 330         CARGILL, INCORPORATED: PRODUCTS/SERVICES/SOLUTIONS OFFERED   310

TABLE 331         CARGILL, INCORPORATED: DEALS        311

TABLE 332         CARGILL, INCORPORATED: OTHERS     311

14.1.2    ADM     313

TABLE 333         ADM: BUSINESS OVERVIEW       313

FIGURE 83         ADM: COMPANY SNAPSHOT     314

TABLE 334         ADM: PRODUCTS/SERVICES/SOLUTIONS OFFERED      314

TABLE 335         ADM: PRODUCT LAUNCHES     316

TABLE 336         ADM: DEALS     316

TABLE 337         ADM: OTHERS  317

14.1.3    KERRY GROUP PLC        318

TABLE 338         KERRY GROUP PLC: BUSINESS OVERVIEW         318

FIGURE 84         KERRY GROUP PLC: COMPANY SNAPSHOT        319

TABLE 339         KERRY GROUP PLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED          319

TABLE 340         KERRY GROUP PLC: DEALS        320

TABLE 341         KERRY GROUP PLC: OTHERS     320

14.1.4    INTERNATIONAL FLAVORS & FRAGRANCES INC.            322

TABLE 342         INTERNATIONAL FLAVORS & FRAGRANCES INC.: BUSINESS OVERVIEW        322

FIGURE 85         INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT        323

TABLE 343         INTERNATIONAL FLAVORS & FRAGRANCES INC: PRODUCTS/SERVICES/ SOLUTIONS OFFERED  323

14.1.5    INGREDION      325

TABLE 344         INGREDION: BUSINESS OVERVIEW        325

FIGURE 86         INGREDION: COMPANY SNAPSHOT      326

TABLE 345         INGREDION: PRODUCTS/SERVICES/SOLUTIONS OFFERED              326

TABLE 346         INGREDION: PRODUCT LAUNCHES       327

TABLE 347         INGREDION: DEALS      327

TABLE 348         INGREDION: OTHERS   328

14.1.6    WILMAR INTERNATIONAL LTD.             329

TABLE 349         WILMAR INTERNATIONAL LTD.: BUSINESS OVERVIEW 329

FIGURE 87         WILMAR INTERNATIONAL LTD.: COMPANY SNAPSHOT              330

TABLE 350         WILMAR INTERNATIONAL LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED   330

14.1.7    ROQUETTE FRÈRES      331

TABLE 351         ROQUETTE FRÈRES: BUSINESS OVERVIEW         331

TABLE 352         ROQUETTE FRÈRES: PRODUCTS/SERVICES/SOLUTONS OFFERED          331

TABLE 353         ROQUETTE FRÈRES: PRODUCT LAUNCHES       332

TABLE 354         ROQUETTE FRÈRES: DEALS       332

TABLE 355         ROQUETTE FRÈRES: OTHERS   333

14.1.8    GLANBIA PLC   334

TABLE 356         GLANBIA PLC: BUSINESS OVERVIEW     334

FIGURE 88         GLANBIA PLC: COMPANY SNAPSHOT   335

TABLE 357         GLANBIA PLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED              335

TABLE 358         GLANBIA PLC: PRODUCT LAUNCHES    336

TABLE 359         GLANBIA PLC: DEALS   336

14.1.9    DSM-FIRMENICH           337

TABLE 360         DSM-FIRMENICH: BUSINESS OVERVIEW             337

FIGURE 89         DSM-FIRMENICH: COMPANY SNAPSHOT           338

TABLE 361         DSM-FIRMENICH: PRODUCTS/SERVICES/SOLUTIONS OFFERED          338

TABLE 362         DSM-FIRMENICH: DEALS           339

14.1.10  AGT FOOD AND INGREDIENTS 340

TABLE 363         AGT FOOD AND INGREDIENTS: BUSINESS OVERVIEW  340

TABLE 364         AGT FOOD AND INGREDIENTS: PRODUCTS/SERVICES/SOLUTIONS OFFERED   340

TABLE 365         AGT FOOD AND INGREDIENTS: DEALS 341

14.1.11  TATE & LYLE    342

TABLE 366         TATE & LYLE: BUSINESS OVERVIEW      342

FIGURE 90         TATE & LYLE: COMPANY SNAPSHOT     343

TABLE 367         TATE & LYLE: PRODUCTS/SERVICES/SOLUTIONS OFFERED              343

TABLE 368         TATE & LYLE: DEALS    344

14.1.12  BURCON            345

TABLE 369         BURCON: BUSINESS OVERVIEW 345

FIGURE 91         BURCON: COMPANY SNAPSHOT            345

TABLE 370         BURCON: PRODUCTS/SERVICES/SOLUTIONS OFFERED              346

TABLE 371         BURCON: DEALS            346

TABLE 372         BURCON: OTHERS         347

14.1.13  EMSLAND GROUP         348

TABLE 373         EMSLAND GROUP: BUSINESS OVERVIEW           348

TABLE 374         EMSLAND GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED          348

TABLE 375         EMSLAND GROUP: DEALS         349

14.1.14  PURIS   350

TABLE 376         PURIS: BUSINESS OVERVIEW     350

TABLE 377         PURIS: PRODUCTS/SERVICES/SOLUTIONS OFFERED    350

TABLE 378         PURIS: OTHERS 351

14.1.15  COSUCRA          352

TABLE 379         COSUCRA: BUSINESS OVERVIEW            352

TABLE 380         COSUCRA: PRODUCTS/SERVICES/SOLUTIONS OFFERED              352

TABLE 381         COSUCRA: PRODUCT LAUNCHES          352

TABLE 382         COSUCRA: OTHERS       353

14.2       OTHER PLAYERS           354

14.2.1    BENEO GMBH   354

TABLE 383         BENEO GMBH: BUSINESS OVERVIEW    354

TABLE 384         BENEO GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED              354

TABLE 385         BENEO GMBH: DEALS   355

TABLE 386         BENEO GMBH: OTHERS              355

14.2.2    SOTEXPRO        357

TABLE 387         SOTEXPRO: BUSINESS OVERVIEW          357

TABLE 388         SOTEXPRO: PRODUCTS/SERVICES/SOLUTIONS OFFERED              357

14.2.3    SHANDONG JIANYUAN GROUP 359

TABLE 389         SHANDONG JIANYUAN GROUP: BUSINESS OVERVIEW   359

TABLE 390         SHANDONG JIANYUAN GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED   359

14.2.4    AMCO PROTEINS           360

TABLE 391         AMCO PROTEINS: BUSINESS OVERVIEW             360

TABLE 392         AMCO PROTEINS: PRODUCTS/SERVICES/SOLUTIONS OFFERED          360

TABLE 393         AMCO PROTEINS: OTHERS        361

14.2.5    AUSTRALIAN PLANT PROTEINS PTY LTD.          362

TABLE 394         AUSTRALIAN PLANT PROTEINS PTY LTD.: BUSINESS OVERVIEW        362

TABLE 395         AUSTRALIAN PLANT PROTEINS PTY LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED   362

14.2.6    NUTRAFERMA, INC.       364

TABLE 396         NUTRAFERMA, INC.: BUSINESS OVERVIEW        364

TABLE 397         NUTRAFERMA, INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          364

14.2.7    MYCOTECHNOLOGY, INC.         365

TABLE 398         MYCOTECHNOLOGY, INC.: BUSINESS OVERVIEW           365

TABLE 399         MYCOTECHNOLOGY, INC.: PRODUCT OFFERINGS        365

TABLE 400         MYCOTECHNOLOGY, INC.: PRODUCT LAUNCHES         366

TABLE 401         MYCOTECHNOLOGY, INC.: DEALS         366

TABLE 402         MYCOTECHNOLOGY, INC.: OTHERS      366

14.2.8    EUROPEAN PROTEIN A/S           368

TABLE 403         EUROPEAN PROTEIN A/S: BUSINESS OVERVIEW             368

TABLE 404         EUROPEAN PROTEIN A/S: PRODUCTS/SERVICES/SOLUTIONS OFFERED          368

14.2.9    AMINOLA          370

TABLE 405         AMINOLA: COMPANY OVERVIEW           370

14.2.10  THE GREEN LABS LLC  371

TABLE 406         THE GREEN LABS LLC: COMPANY OVERVIEW   371

14.2.11  ET-CHEM          372

TABLE 407         ET-CHEM: COMPANY OVERVIEW           372

14.2.12  PROEON            373

TABLE 408         PROEON: COMPANY OVERVIEW            373

14.2.13  BIOWAY ORGANIC GROUP LIMITED      374

TABLE 409         BIOWAY ORGANIC GROUP LIMITED: COMPANY OVERVIEW              374

14.2.14  NAVITALO        375

TABLE 410         NAVITALO: COMPANY OVERVIEW         375

*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Key strengths, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.

15          ADJACENT & RELATED MARKETS          376

15.1       INTRODUCTION            376

TABLE 411         MARKETS ADJACENT TO PLANT-BASED PROTEIN MARKET              376

15.2       STUDY LIMITATIONS    376

15.3       PEA PROTEIN MARKET 376

15.3.1    MARKET DEFINITION   376

15.3.2    MARKET OVERVIEW     377

TABLE 412         PEA PROTEIN MARKET, BY FORM, 2020–2023 (USD MILLION)              377

TABLE 413         PEA PROTEIN MARKET, BY FORM, 2024–2029 (USD MILLION)              377

15.4       SOY PROTEIN INGREDIENTS MARKET  378

15.4.1    MARKET DEFINITION   378

15.4.2    MARKET OVERVIEW     378

TABLE 414         SOY PROTEIN INGREDIENTS MARKET, BY NATURE, 2018–2021 (USD MILLION) 378

TABLE 415         SOY PROTEIN INGREDIENTS MARKET, BY NATURE, 2022–2027 (USD MILLION) 378

15.5       PROTEIN INGREDIENTS MARKET          379

15.5.1    MARKET DEFINITION   379

15.5.2    MARKET OVERVIEW     379

TABLE 416         PROTEIN INGREDIENTS MARKET, BY FORM, 2019–2022 (USD MILLION)          379

TABLE 417         PROTEIN INGREDIENTS MARKET, BY FORM, 2023–2028 (USD MILLION)          379

16          APPENDIX         380

16.1       DISCUSSION GUIDE      380

16.2       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             386

16.3       CUSTOMIZATION OPTIONS      388

16.4       RELATED REPORTS       388

16.5       AUTHOR DETAILS         389