U.S. & Europe Plant-Based Protein Market To Reach $18.55 Billion By 2030

U.S. & Europe Plant-based Protein Market Growth & Trends

The U.S. & Europe plant-based protein market size is estimated to reach USD 18.55 billion in 2030, growing at a CAGR of 6.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be significantly attributed to the rising health consciousness among consumers. An increasing number of people are now aware of the health benefits associated with consuming plant-based diets, such as lower risks of heart disease, hypertension, diabetes, and certain types of cancer. Moreover, the growing understanding of the environmental impacts of animal farming, including its contribution to greenhouse gas emissions and deforestation, has led many to pivot towards more sustainable eating habits. This shift in consumer behavior is a crucial driver behind the burgeoning demand for plant-based proteins, as individuals seek healthier and more environmentally friendly dietary options.

In addition to health and environmental concerns, advancements in food technology and innovation have played a key role in propelling the plant-based protein market forward in the U.S. and Europe. Companies in the food industry have substantially improved the taste, texture, and variety of plant-based protein products, making them more appealing to a broader audience. These innovations have bridged the gap for consumers who may have been hesitant to try plant-based proteins due to concerns about taste and satisfaction. As a result, the market has witnessed an influx of plant-based alternatives to traditional animal products, ranging from burgers and sausages to dairy and seafood substitutes, thereby expanding the consumer base.

Furthermore, the support from government bodies and various organizations towards sustainable and healthy eating practices has greatly influenced the plant-based protein market's growth. Public health campaigns and policies promoting the benefits of plant-based diets have led to increased awareness and acceptance among consumers. Moreover, investments and subsidies in plant-based food startups are encouraging innovation and helping to reduce the cost of plant-based protein products, making them more accessible to a wider audience. As consumers in the U.S. and Europe continue to embrace plant-based proteins for their health, environmental, and ethical benefits, the market is expected to see sustained growth in the coming years.

Major market players include Cargill, Incorporated; ADM; Ingredion Inc.; Kerry Group plc; Tate & Lyle; Glanbia plc; Axiom Foods, Inc.; International Flavors & Fragrances; Bunge Limited; and SunOpta. Manufacturers actively engage in continuous product innovation and development to meet consumer demands and preferences. This includes introducing new flavors, enhancing taste profiles, improving solubility, and incorporating natural ingredients. By catering to diverse consumer tastes and preferences, manufacturers not only expand their product offerings but also enhance the overall sensory experience of consuming plant-based protein, thereby further driving market growth.

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U.S. & Europe Plant-based Protein Market Report Highlights

• Based on nature, the organic plant-based protein segment is anticipated to grow at a CAGR of 11.8% from 2024 to 2030. The growth is driven by increasing health consciousness and a shift towards vegan and vegetarian diets. Additionally, environmental concerns related to animal farming are pushing consumers towards plant-based options.

• Based on type, the legumes segment is anticipated to witness a CAGR of 6.8% from 2024 to 2030. The recognition of legumes as a sustainable and economically viable protein source contributes to their prominence in the plant-based protein landscape.

• Application of plant-based protein in dietary supplements is expected to witness a CAGR of 7.3% from 2024 to 2030. This can be attributed to the innovations in extraction methods and formulation techniques that have improved the taste, texture, and nutritional profile of plant-based proteins, making them more palatable and versatile for various applications in dietary supplements.

• The U.S. plant-based protein market is expected to grow at a CAGR of 7.1% during 2024 to 2030, owing to substantial product innovations & product development investments for plant-based protein. In addition, the prevalence of health issues such as blood pressure, diabetes, and obesity is prompting consumers to opt for dietary supplements and functional foods containing plant-based proteins.  

U.S. & Europe Plant-based Protein Market Segmentation

Grand View Research has segmented the U.S. & Europe plant-based protein market based on nature, product, application, and region:

U.S. & Europe Plant-based Protein Nature Outlook (Revenue, USD Million, 2018 - 2030)

• Organic

• Conventional

U.S. & Europe Plant-based Protein Product Outlook (Revenue, USD Million, 2018 - 2030)

• Cereals

  • Wheat Protein

    • Wheat Protein Concentrates

    • Wheat Protein Isolates

    • Textured Wheat Protein

    • Hydrolyzed Wheat Protein

    • HMEC/HMMA Wheat Protein

  • Rice Protein

    • Rice Protein Concentrates

    • Rice Protein Isolates

    • Hydrolyzed Rice Protein

    • Others

  • Oat Protein

    • Oat Protein Concentrates

    • Oat Protein Isolates

    • Hydrolyzed Oat Protein

  • Others

• Legumes

  • Soy Protein

    • Soy Protein Concentrates

    • Soy Protein Isolates

    • Textured Soy Protein

    • Hydrolyzed Soy Protein

    • HMEC/HMMA Soy Protein

  • Yellow Pea Protein

    • Yellow Pea Protein Concentrates

    • Yellow Pea Protein Isolates

    • Textured Yellow Pea Protein

    • Hydrolyzed Yellow Pea Protein

    • HMEC/HMMA Yellow Pea Protein

  • Lupin Protein

  • Chickpea Protein

  • Others

• Roots

  • Potato Protein

    • Potato Protein Concentrates

    • Potato Protein Isolates

  • Maca Protein

  • Others

• Ancient Grains

  • Hemp Protein

  • Quinoa Protein

  • Sorghum Protein

  • Amaranth Protein

  • Others

• Nuts & Seeds

  • Canola Protein

  • Almond Protein

  • Flaxseeds Protein

  • Others

U.S. & Europe Plant-based Protein Application Outlook (Revenue, USD Million, 2018 - 2030)

• Food & Beverages

  • Bakery & Confectionery

  • Beverages (Non-dairy Alternatives)

  • Breakfast Cereals

  • Meat Alternative Products

  • Dairy Alternative Products

    • Beverages

    • Cheese

    • Snacks

    • Others (Ice cream, creamers, etc.)

  • Snacks

  • Ready-to-Eat Meals

  • Others 

• Dietary Supplements

• Nutritional Bars

• Animal Feed & Pet Food

• Meat, Poultry & Seafood

• Others (Cosmetics & Personal Care, Pharmaceuticals)

U.S. & Europe Plant-based Protein Regional Outlook (Revenue, USD Million, 2018 - 2030)

• U.S.

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Belgium

  • Netherlands

List of Key Players in the U.S. & Europe Plant-based Protein Market

• Cargill, Incorporated

• ADM

• Ingredion Inc.

• Kerry Group plc

• Tate & Lyle

• Glanbia plc

• Axiom Foods, Inc.

• International Flavors & Fragrances

• Bunge Limited

• SunOpta