The South America plant protein market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.21% during 2023–2031. The growth of the market is attributed to the growing usage of pea protein in the food industry.
Moreover, innovation in the technologies that are used for extraction of plant-based protein is driving the market growth. Proteins are essential nutrients that human body requires, which consist of amino acids. These proteins are known as plant proteins that are extracted from plant-based foods such as wheat and soy.
Many crops provide elevated protein content, including chickpeas, tofu, peanuts, lentils, almonds, quinoa, spirulina, and chia seed. Plant-based proteins have less calorie count. Thus, animal-based protein can be replaced with plant-based protein. Plant protein consists of different types of globular proteins where globulins forms the major fraction, containing legumin, vicilin, and convicilin, while the minor fractions include albumins and glutelins.
Soy products are among the richest sources of protein in a plant-based diet. Lentils are also a great source of protein that are added in the diet. They can be added to stews, curries, salads, or rice to give an extra portion of protein. Growing demand for dietary supplement products particularly among the young population and middle-aged people is positively influencing the market growth.
South America Plant Protein Market Trends, Drivers, Restraints, and Opportunities
Increasing demand for protein plants from the food and dietary supplements industries is expected to boost market growth.
Rising demand for sustainable protein in form of capsules, tablets, and powders such as green powder as it is widely used for smoothies and juice-format supplements which have raised the demand for plant protein in South America, is anticipated to drive market growth.
An innovative product line of ready-to-eat products with no compromise in taste and texture can positively impact the growth of the market.
The presence of alternative protein sources can hamper the growth of the South Africa plant protein market growth.
Allergies associated with plant-based protein sources can restrain the market growth.
Increasing awareness of the adverse effects of red meat, resulting in a shift toward plant-based substitutes can create opportunities for market growth.
Scope of South America Plant Protein Market Report
The report on the South America plant protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
South America Plant Protein - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Wheat Protein, Soy Protein, Pea Protein, and Others), Forms (Protein Isolate, Protein Concentrate, Textured Protein), Applications (Bakery, Meat Extender and Substitutes, Nutritional Supplements, Beverages, Snacks, and Others)
Brazil, Argentina, and Rest of South America
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Ajinomoto, Kerry Group, Tate & Lyle, Dien Inc., KF Specialty Ingredients, and Arla Foods Ingredients
South America Plant Protein Market Segment Insights
Soy protein segment to account a major market share
Based on types, the market is divided into wheat protein, soy protein, pea protein, and others. The soy protein segment is anticipated to account a major market share owing to rising demand for sports and nutrition products by athletes, body builders, and recuperating patients. Lactose intolerant population is propelling the demand for alternate dairy substitutes, which is father boosting the segment growth. Growing trend of GMO-free and clean-label based soy protein ingredients is expected to drive the soy protein segment growth.
Protein isolate segment to dominate the market share
On the basis of forms, the South America plant protein market is segmented into protein isolate, protein concentrate, and textured protein. The protein isolate segment is projected to dominate the market share owing to its increasing use in enhancing the performance of nutrition products, cereals, confectioneries, and plant-based dairy products. Isolates are extensively utilized as nutritional supplements in fruit mixes, energy drinks, and bakery products, as they have good emulsification and non-allergic properties.
Meat extender and substitutes to account a considerable market share
In terms of applications, South America plant protein market is classified as bakery, meat extender and substitutes, nutritional supplements, beverages, snacks, and others. The meat extender and substitutes segment is anticipated to expand at a sustainable CAGR during the forecast period. Increasing health issues, such as obesity and diabetes, have encouraged many individuals to adopt vegan dietary habits. Moreover, growing shift toward vegetarianism is expected to significantly contribute to the growth of the segment growth.
Brazil to dominate the market share
Based on geographies, the market is segregated into Brazil, Argentina, and Rest of South America. Brazil is expected to dominate the market share owing to increasing R&D activities and surge in the plant protein production. Moreover, key companies are showing interest in setting up manufacturing units in this country of South America, driving the market growth in Brazil.
The South America plant protein Market has been segmented on the basis of
- Wheat Protein
- Soy Protein
- Pea Protein
- Protein Isolate
- Protein Concentrate
- Textured Protein
- Meat Extender and Substitutes
- Nutritional Supplements
- Rest of South America
Key players operating in the South America plant protein Market includes Ajinomoto, Kerry Group, Tate & Lyle, Dien Inc., KF Specialty Ingredients, and Arla Foods Ingredients.