Analysis of Vegetable Proteins Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The type of protein one eat is more important than its amount. Vegetable proteins provide plenty of fiber, antioxidants, and fiber that improve overall health. The dietary supplements industry is projected to grow and reach USD 308 billion by end of 2028. Vegetable supplements are preferred by consumers for essential vitamins A, C, and E.
The worldwide Vegan food arcade was valued at USD 15.77 billion in 2021. Rising veganism has a positive influence on vegetable supplement demand. Forgoing animal protein is gaining momentum that is expected to give an upward trajectory for this market. plant-based protein is expected to offset the animal supplements market share as they can be easily produced at competitive prices.
In 2020, the United Kingdom was most recognized for its veganism trend. This trend is increasingly passed among consumers globally. In Germany, about 3% people of aged between 18 to 64 have responded as they follow a vegan diet, In Mexico, Brazil, and China this percentage stands between 2 to 6% vegan populace.
India has a noteworthy standout with 10% of respondents following typically vegan diets. These surveys unveil that vegan proteins are likely to gain a good market share in these markets in the forecast period.
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The rising environmental concerns are at the core of vegan preferences set by consumers. However, it’s not the only reason why people demand vegan these days, there are several other factors such as – the rising price of meat protein, taste, and quality of vegan products, and propelled health awareness.
These proteins are demanded for their nutritional benefits and textures across various food applications. Keeping animal cruelty downside apart, these vegan proteins contribute to keeping diets rich in nutrients.
“Change in animal protein consumption among flexitarians”
According to certain research, plant-based protein powders can lower cholesterol levels and heart disease risk factors. Numerous plant-based protein powders include micronutrients your body needs, like antioxidants, vitamins, fiber, and minerals.
In 2021, about 73% of European country participants stated that their meat consumption has been reduced compared to the previous year. These flexitarian trends have a favorable impact on the vegetable protein market share in the forecast period. Australia and Germany have seen a rise in the number of flexitarians which also anticipated open opportunities for vegan food manufacturers.
There is a shift from the non-vegetarian population toward a vegan trend that attribute to growth in food that mimics animal products in terms of benefits, texture, and taste. This is where texturized vegetable proteins are playing an important part. Texturized vegetable proteins are an integral part of meat analogy and meat substitutes, which have found a strong base in the food and beverage industry over the last few years.
As more companies, globally, are trying to adapt to the newfound love of people for meat substitutes, the demand for vegetable options has only witnessed an upward trend of growth. The vegetarian trend has also affected the Horeca and processed foods sector. Hydrolysed vegetable proteins are now being used instead of animal proteins or yeast proteins as flavor enhancers in multiple vegetarian food products.
“Vegetable proteins paving ways to health supplements arcade”
For decades, health supplements, especially protein supplements, have been derived from animal milk or eggs, and so on. The preference for vegetable proteins has seen multiple companies coming out with vegetable protein-based health supplements that now appeal to a wider consumer base. Marketing efforts for vegetable protein-based supplements have been focused on the benefits of a purer form of proteins and cruelty-free nature while delivering the same or better results than that of the whey protein counterparts.
Due to their great functional qualities, such as the ability to retain and emulsify large amounts of water, gel, and fat, soy and pea are two plant proteins that are widely employed in food items. Cereal grain protein known as gluten has special cohesive and viscoelastic properties that can create fibrous proteinaceous networks and are frequently employed in meat substitutes.
Oilseed proteins like rapeseed and canola oil are becoming more popular as components of plant-based protein products. These proteins can produce gels and have emulsification, foaming, and gel-forming properties. Other legume proteins examined for their physicochemical properties, such as foam stability, emulsification, and gel formation, include lentils, lupine, chickpea, pigeon pea, and fava bean.
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The market is full of opportunities for manufacturers owing to the rise in vegan diet preferences. However, taste, texture, and price will be key differentiators among companies and are likely to control their competitive edge.
The growth in the market is also expected to foster due to marketing efforts taken by companies to promote products to their niche target audience. Social media marketing widely opts strategy by firms seek to get benefit by influencing consumers. On the basis of regions, developed countries tend to have more market share due to more awareness and high consumer spending.
However, its observed many times previously that developing countries follow and adopt trends from developed nations which is soon expected to catch up with the growth in vegan protein in the forecast period.
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Opportunities for market participants in the vegetable proteins market are plenty, owing to the rise of vegetarianism.
United Kingdom was recognised for popularity of vegan diet in 2021.
The worldwide Vegan food arcade was valued at USD 15.77 billion in 2021.
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