What is the current status of the Plant Protein market?

In recent years, plant-based fever has been soaring, with plant-based milk, plant-based snacks, plant-based yogurt and even plant-based flavorings ….. have become the meat and potatoes in the food industry. As a plant protein with the natural advantage of nutrition and health, it is even more important to seize the opportunity in the new consumer trend to provide consumers with quality products that take into account both deliciousness and health.
Keywords: market status; trend analysis; types
With the increase of disposable income of our people, people’s pursuit of quality of life continues to improve, and the industry’s consumption also continues to upgrade. In addition to emphasizing the taste experience of products, there is also a growing concern about the health benefits of food and beverages. Protein, as an essential nutrient for the human body, has gradually become a new hotspot for market consumption, and more and more corporate brands are seizing the opportunity in the trend of consumption upgrading to provide consumers with high-quality products that take into account both flavor and health.
Meanwhile, consumers’ attention to plant-based products is deepening, and plant-based protein products are becoming a trendy lifestyle for more consumers based on their personal health and global ecosystem concerns. Global Plant-Based Protein Market Scenario
According to Markets and Markets, the global plant-based protein market is estimated to be worth USD 18.5 billion in 2019 and is expected to reach USD 40.6 billion by 2025. Plant-based protein products are derived from plants such as soybeans, wheat, and peas. Plant protein application categories include protein beverages, dairy alternatives, meat alternatives, protein bars, nutritional supplements, processed meats, poultry and seafood, bakery, food and sports nutrition products. Vegetable protein applications can enhance the nutritional and functional properties of products, such as texture, emulsification properties, solubility, stability and binding.

Image credit: Markets and MarketsThe adoption of plant-based proteins in new global food and beverage products also continues to grow. According to data on global food and beverage new product launches with plant protein claims tracked by Innova’s Global New Product Database, the proportion of plant protein claims applied has continued to grow globally over the 2014-2018 period, with the exception of North America, the Middle East and Africa. Despite a decline in the proportion in North America, its share of related new product launches remains the global leader, accounting for 15.4% of its total new product launches in 2018. Asia has seen the most significant growth in the proportion of applications claimed by plant proteins, accounting for 13.4% of its total new product launches in 2018, an increase of +2.4% from 2014.
Plant protein forces sputtering
The huge market volume has provided an opportunity for many niche proteins to come to the fore, with pea protein, lupin protein, chickpea protein, algae protein, and others competing for launch, and the plant protein market showing a blossoming trend.
Pea protein
More and more consumers are taking the initiative to seek a high-protein diet, peas have become one of the hotter food ingredients in recent years. Data shows that global pea protein consumption has doubled compared to 2015, reaching 275,000 tons, and by 2025 global pea protein consumption will increase to 580,000 tons. From a market perspective, pea-based cookies and beverage products are appearing on the radar, such as Campbell Soup subsidiary Bolthouse Farms announcing the launch of a plant-based milk containing 10 grams of pea protein per serving in four flavors, including vanilla, unsweetened, chocolate, and original.
Chickpea ProteinChickpea protein is highly nutritious, containing 18 amino acids, with a total amino acid content of 869mg/g and an essential amino acid content of 353mg/g, which is close to the ideal amino acid composition of proteins recommended by WHO/FAO (360mg/g). In terms of product applications, chickpea has a neutral flavor that can largely reduce the use of additives. From spreads to dairy replacements, plant-based meats to snacks, chickpea applications are also becoming more widespread. For example, Original Bean Revival was founded in 2019 and has been deeply involved in the development of deep bean snacks. Currently, it has a series of products such as Slow Roasted Chickpeas, Pure Steamed Chickpeas, Chickpea Puff Sticks, and Chickpea Oatmeal Cookies.
Lupine Protein
With a rapidly growing vegan population and increasing concern for health and the environment, lupin is also a rising star in the plant protein market. As a good source of protein, 1 cup (166 g) of unsalted cooked lupines contains approximately 198 calories, 26 g protein, 16 g carbohydrates, 5 g fat, and 5 g fiber (equivalent to 17% of the recommended daily value). Lupines are also high in micronutrients such as manganese, copper, magnesium, phosphorus, potassium and zinc. Because of their unusual flavor and high nutritional value, lupines are used in snacks, protein bars, dairy substitutes, and ice cream products, and are beginning to grow in popularity in other parts of the world. For example, Lupii, the bean snack brand created by Steichen and Dempster, uses non-GMO lupines grown in the Mediterranean basin into snack protein bars, which have been well received by consumers.
Algae proteins
With the rapid development of research in the field of protein and the increased demand for plant proteins, algal proteins have been recognized as one of the excellent protein sources. Research has found that edible algae contain 8 essential amino acids, and the composition is reasonable, on hypertension, diabetes, cancer and many other diseases have auxiliary therapeutic effect, in the field of functional food has a broad market prospects. For example, Suja Fruit Drinks, which has always been a cold-pressed juice-based beverage, has launched an organic fruit and vegetable juice with “chlorella” and “spirulina”, giving consumers a refreshing product experience.
Plant-based proteins have been an important health trend for more than a decade. For many of the new consumers entering these categories, especially the new generations, the motivation is no longer just personal health and well-being, but broader environmental friendliness.