2021 new report: Global plant protein industry now worth $10.3 billion

Analysts at market data research firm ReportLinker predict that the plant protein industry is currently worth $10.3 billion in 2020 and will continue to grow at an annual rate of 7.2% over the next few years, even surging to $15.6 billion by 2026 Dollar.

According to the report released on February 15 by the US market research firm MarketsandMarkets, the shift in consumption habits towards sustainable and healthy plant-based diets is the main driver of the growing demand for plant-based proteins in the food sector.

In the report, experts predict that the main categories in the food industry that will drive increased demand for plant-based proteins include the nutritional segment (including protein isolates and textured proteins), as well as products suitable for use in plant-based meats, plant-based milks, convenience foods, and snacks. ingredients. According to the report, soy protein will be one of the most in-demand plant-derived proteins.

If broken down by region, Asia Pacific is expected to witness the highest growth over the next five years due to increased plant-based consumption in key markets such as China, India, and Japan.

Also mentioned in the report: There are already many Asian food giants taking advantage of plant-based development opportunities, including China's Shaanxi Haolin Biotechnology Co., Ltd. and ET Chem, as well as international agricultural and FMCG giants such as Cargill, DSM and ADM , all of which have recently established R&D facilities in Asia.


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