The global vegan protein foods market is expected to be valued at US$ 10327 million in 2023 and to reach a valuation of US$ 19063 million by 2033. The demand for vegan protein foods is estimated to grow at a steady 7% CAGR, with the U.K., the U.S., China, and India emerging as key producers.
Consumers’ growing interest in health has fueled a dramatic expansion of the field of personalized nutrition. Recently, shoppers have been increasingly picky about what they put in their bodies. Other than the traditional vegan protein product sources like soy, wheat, and pea, aquatic plants present tremendous potential to obtain proteins and components tailored to individual customers’ specific physiological and metabolic requirements.
Protein in plants is synthesized through a natural process that uses the energy from the sun to drive a sequence of chemical reactions that combine different elements into a single molecule. Chlorophyll, found in plants, is the essential agent responsible for this one-of-a-kind process. Most of the sun’s rays hit the water, including the seas, rivers, lakes, and wetlands. Aquatic proteins fit for human consumption exist in water bodies all over the world. They can be enhanced with the help of modern aquaculture technology, but they are still mostly unexplored.
The growing vegan protein foods market, as a result of the health benefits it provides, has prompted major businesses to diversify their offerings. So, to improve the food’s overall health benefits, more and more people are turning to plant-based proteins.
With the help of cutting-edge innovations in research and development, plant proteins can find even more uses in the food and drink industry. However, new products can help compensate for plant protein’s lower grade compared to animal/dairy proteins like whey and meat.
Regarding the worldwide plant-based protein business, soy protein is a huge moneymaker and is projected to expand rapidly over the next several years.
Soy, wheat, peas, and other legumes and grains are only some of the plant foods that can be used to make protein-rich plant-based foods. Pea protein is expected to expand at a robust CAGR of 6.9% during the next few years.
The value of the isolate market category is projected to grow at a CAGR of 5.8% over the forecasted time frame, as indicated by the data presented here.
