1	INTRODUCTION	51
1.1	STUDY OBJECTIVES	51
1.2	MARKET DEFINITION	51
1.3	STUDY SCOPE	52
1.3.1	MARKET SEGMENTATION	52
1.3.2	INCLUSIONS & EXCLUSIONS	53
1.3.3	REGIONS COVERED	53
1.4	YEARS CONSIDERED	54
1.5	CURRENCY CONSIDERED	54
TABLE 1	USD EXCHANGE RATES, 2018–2022	55
1.6	UNIT CONSIDERED	55
1.7	STAKEHOLDERS	55
1.8	SUMMARY OF CHANGES	56
1.9	RECESSION IMPACT	56
2	RESEARCH METHODOLOGY	57
2.1	RESEARCH DATA	57
FIGURE 1	RESEARCH DESIGN	57
2.1.1	SECONDARY DATA	58
2.1.1.1	Key data from secondary sources	58
2.1.2	PRIMARY DATA	58
2.1.2.1	Key data from primary sources	59
2.1.2.2	Breakdown of primary interviews	59
FIGURE 2	BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION	59
2.1.2.3	Key primary insights	60
2.2	MARKET SIZE ESTIMATION	60
2.2.1	BOTTOM-UP APPROACH	61
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	61
2.2.2	TOP-DOWN APPROACH	62
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	62
2.3	DATA TRIANGULATION	63
FIGURE 5	DATA TRIANGULATION METHODOLOGY	63
2.4	RESEARCH ASSUMPTIONS	64
2.5	LIMITATIONS AND RISK ASSESSMENT	64
2.6	RECESSION IMPACT ANALYSIS	65
2.6.1	MACROECONOMIC INDICATORS OF RECESSION	66
FIGURE 6	MACROECONOMIC INDICATORS OF RECESSION	66
FIGURE 7	GLOBAL INFLATION RATE, 2011–2022	66
FIGURE 8	GLOBAL GDP, 2011–2022 (USD TRILLION)	67
FIGURE 9	RECESSION INDICATORS AND THEIR IMPACT ON PLANT-BASED PROTEIN MARKET	68
FIGURE 10	GLOBAL PLANT-BASED PROTEIN MARKET: PREVIOUS FORECAST VS. RECESSION IMPACT FORECAST	69
3	EXECUTIVE SUMMARY	71
TABLE 2	PLANT-BASED PROTEIN MARKET SNAPSHOT, 2023 VS. 2028	72
FIGURE 11	PLANT-BASED PROTEIN MARKET SNAPSHOT, BY SOURCE, 2023 VS. 2028	73
FIGURE 12	PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)	73
FIGURE 13	PLANT-BASED PROTEIN MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)	74
FIGURE 14	PLANT-BASED PROTEIN MARKET, BY REGION	74
4	PREMIUM INSIGHTS	76
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PLANT-BASED PROTEIN MARKET	76
FIGURE 15	RISING DEMAND DUE TO INCREASING HEALTH AWARENESS AND ENVIRONMENTAL CONCERNS TO DRIVE MARKET	76
4.2	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM AND COUNTRY	76
FIGURE 16	DRY SEGMENT AND US TO ACCOUNT FOR SIGNIFICANT SHARE IN 2023	76
4.3	PLANT-BASED PROTEIN MARKET, BY APPLICATION AND REGION	77
FIGURE 17	FOOD & BEVERAGES SEGMENT TO DOMINATE MOST REGIONS DURING FORECAST PERIOD	77
4.4	PLANT-BASED PROTEIN MARKET: KEY COUNTRIES, 2022	78
FIGURE 18	US DOMINATED PLANT-BASED PROTEIN MARKET IN 2022	78
5	MARKET OVERVIEW	79
5.1	INTRODUCTION	79
5.2	MACROECONOMIC INDICATORS	80
5.2.1	RISE IN FOOD DEMAND FROM GROWING POPULATION	80
FIGURE 19	POPULATION PROJECTED TO REACH MORE THAN 9.5 BILLION BY 2050	80
5.2.2	INCREASE IN SOYBEAN PRODUCTION	80
FIGURE 20	SOYBEAN PRODUCTION, BY KEY COUNTRY, 2016–2020 (MILLION TON)	81
5.2.3	CONSUMER SHIFT TOWARD PLANT-BASED NUTRITION	81
5.3	MARKET DYNAMICS	82
FIGURE 21	PLANT-BASED PROTEIN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	82
5.3.1	DRIVERS	82
5.3.1.1	Growth in consumer preference for vegan diet	82
5.3.1.1.1	Growing interest in health-centric food and beverages	83
5.3.1.1.2	Awareness regarding meat alternatives’ role in environmental sustainability	84
FIGURE 22	US: SALES OF PLANT-BASED MEAT ALTERNATIVES, 2019–2022	84
5.3.1.1.3	Innovation and developments related to plant-based protein to augment vegan trend	84
5.3.1.2	Prevalence of lactose intolerance	85
TABLE 3	RATE OF LACTOSE INTOLERANCE, BY COUNTRY	86
5.3.2	RESTRAINTS	87
5.3.2.1	Allergies associated with plant-based protein sources, such as soy and wheat	87
FIGURE 23	US: POPULATION WITH FOOD ALLERGIES, BY ALLERGEN, 2018–2019 (MILLION)	87
5.3.2.2	Possibility of nutritional deficiencies among vegans	87
5.3.3	OPPORTUNITIES	88
5.3.3.1	Emergence of aquatic plants as new sources of protein	88
5.3.3.2	Effective marketing strategies and correct positioning of plant-based proteins	89
5.3.3.3	Changes in consumer lifestyles	89
5.3.4	CHALLENGES	90
5.3.4.1	Concerns over quality of food and beverages due to adulteration of GM ingredients	90
5.3.4.2	Economic constraints related to processing capacity of pea protein	90
5.3.4.3	Concerns regarding taste and texture of plant-based protein	91
6	INDUSTRY TRENDS	92
6.1	INTRODUCTION	92
6.2	SUPPLY CHAIN ANALYSIS	92
FIGURE 24	SUPPLY CHAIN ANALYSIS	93
6.3	VALUE CHAIN ANALYSIS	93
6.3.1	RESEARCH AND PRODUCT DEVELOPMENT	93
6.3.2	RAW MATERIAL SOURCING	94
6.3.3	PRODUCTION & PROCESSING	94
6.3.4	DISTRIBUTION	94
6.3.5	MARKETING & SALES	94
6.3.6	END USERS	94
FIGURE 25	VALUE CHAIN ANALYSIS	95
6.4	TRADE ANALYSIS	95
6.4.1	SOYBEAN	95
TABLE 4	TOP TEN IMPORTERS AND EXPORTERS OF SOYBEAN, 2022 (KT)	95
6.4.2	PEA	96
TABLE 5	TOP 10 IMPORTERS AND EXPORTERS OF PEA, 2021 (KT)	96
6.4.3	RICE	96
TABLE 6	TOP TEN IMPORTERS AND EXPORTERS OF RICE, 2022 (KT)	96
6.5	TECHNOLOGY ANALYSIS	97
6.5.1	EXTRUSION	97
6.5.2	HIGH-PRESSURE PROCESSING (HPP)	97
6.5.3	TECHNOLOGICAL ADVANCEMENTS WITHIN EXTRUSION PROCESS	97
6.6	PRICING ANALYSIS	98
6.6.1	AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY SOURCE	98
FIGURE 26	AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY SOURCE (USD/KG)	99
TABLE 7	AVERAGE SELLING PRICE TRENDS, BY REGION, 2021–2028 (USD/TON)	99
TABLE 8	AVERAGE SELLING PRICE TRENDS, BY SOURCE, 2021–2028 (USD/TON)	100
6.7	ECOSYSTEM ANALYSIS	100
6.7.1	DEMAND SIDE	100
6.7.2	SUPPLY SIDE	100
FIGURE 27	PLANT-BASED PROTEIN: MARKET MAP	101
FIGURE 28	ECOSYSTEM MAPPING	102
TABLE 9	ROLE OF PLAYERS IN MARKET ECOSYSTEM	103
6.8	TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	104
FIGURE 29	TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	104
6.9	PATENT ANALYSIS	104
TABLE 10	LIST OF MAJOR PATENTS PERTAINING TO PLANT-BASED PROTEIN MARKET, 2013–2023	104
FIGURE 30	NUMBER OF PATENTS GRANTED, 2013–2022	107
FIGURE 31	REGIONAL ANALYSIS OF PATENTS GRANTED	107
6.10	KEY CONFERENCES & EVENTS	108
TABLE 11	LIST OF KEY CONFERENCES & EVENTS, 2023–2025	108
6.11	TARIFF & REGULATORY LANDSCAPE	109
6.11.1	REGULATORY LANDSCAPE	109
6.11.1.1	North America	109
6.11.1.2	Europe	111
6.11.1.3	Asia Pacific	113
6.11.2	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	114
TABLE 12	LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	114
6.12	PORTER’S FIVE FORCES ANALYSIS	114
TABLE 13	PORTER’S FIVE FORCES ANALYSIS	115
6.12.1	THREAT OF NEW ENTRANTS	115
6.12.2	THREAT OF SUBSTITUTES	115
6.12.3	BARGAINING POWER OF SUPPLIERS	116
6.12.4	BARGAINING POWER OF BUYERS	116
6.12.5	INTENSITY OF COMPETITIVE RIVALRY	116
6.13	KEY STAKEHOLDERS & BUYING CRITERIA	117
6.13.1	KEY STAKEHOLDERS IN BUYING PROCESS	117
FIGURE 32	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES	117
TABLE 14	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE SOURCES	117
6.13.2	BUYING CRITERIA	118
TABLE 15	KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR	118
FIGURE 33	KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR	118
6.14	CASE STUDY ANALYSIS	118
6.14.1	BLUE DIAMOND GROWERS PARTNERED WITH GROUP LALA TO ESTABLISH NETWORK IN MEXICO	118
6.14.2	KERRY GROUP PLC REVOLUTIONIZED PLANT-BASED PRODUCTS IN ASIA PACIFIC MARKET	119
6.14.3	ADM OFFERED NEW PLANT-BASED PROTEINS TO MEET GROWING CONSUMER DEMAND	119
6.14.4	GLANBIA LAUNCHED ITS GRAIN PORTFOLIO TO ADDRESS CONSUMERS’ RISING HEALTH CONCERNS	119
7	PLANT-BASED PROTEIN MARKET, BY SOURCE	120
7.1	INTRODUCTION	121
FIGURE 34	PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023 VS. 2028 (USD MILLION)	121
TABLE 16	PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	122
TABLE 17	PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	122
TABLE 18	PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT)	122
TABLE 19	PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT)	123
7.2	SOY	123
7.2.1	SURGE IN DEMAND FOR PLANT-BASED PROTEIN ALTERNATIVES AND INCREASING SOY EXPORTS TO LEAD TO MARKET GROWTH	123
TABLE 20	SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	124
TABLE 21	SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	124
TABLE 22	SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	124
TABLE 23	SOY: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	125
7.3	WHEAT	125
7.3.1	EXCELLENT BINDING CHARACTERISTICS OF WHEAT COUPLED WITH ITS INCREASED USAGE IN ALTERNATIVE MEAT PRODUCTS TO DRIVE GROWTH	125
TABLE 24	WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	126
TABLE 25	WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	126
TABLE 26	WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	126
TABLE 27	WHEAT: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	127
7.4	PEA	127
7.4.1	RAPID SHIFT OF CONSUMERS FROM TRADITIONAL SOURCES OF PLANT PROTEIN TO DRIVE POPULARITY OF PEA PROTEIN	127
TABLE 28	PEA: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	127
TABLE 29	PEA: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	128
TABLE 30	PEA: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	128
TABLE 31	PEA: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	128
TABLE 32	PEA: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2018–2022 (USD MILLION)	129
TABLE 33	PEA: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2023–2028 (USD MILLION)	129
7.4.2	YELLOW SPLIT PEAS	129
TABLE 34	YELLOW SPLIT PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	130
TABLE 35	YELLOW SPLIT PEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	130
7.4.3	CHICKPEAS	130
TABLE 36	CHICKPEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	131
TABLE 37	CHICKPEAS: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	131
7.4.4	LENTILS	131
TABLE 38	LENTILS: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	132
TABLE 39	LENTILS: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	132
7.5	CANOLA, RICE, AND POTATO	132
7.5.1	GROWING CONSUMER INTEREST IN TRADITIONAL PLANT-BASED PROTEIN PRODUCTS TO SPUR MARKET	132
TABLE 40	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	133
TABLE 41	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	133
TABLE 42	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	133
TABLE 43	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	134
7.6	BEANS & SEEDS	134
7.6.1	RISING DEMAND FOR HEMP PROTEIN AND SUNFLOWER SEED PROTEIN AS EFFECTIVE TOOLS AGAINST CARDIOVASCULAR DISEASES TO DRIVE GROWTH	134
TABLE 44	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	134
TABLE 45	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	135
TABLE 46	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	135
TABLE 47	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	135
7.7	FERMENTED PROTEIN	136
7.7.1	FLAVOR AND MOUTHFEEL OF FERMENTED PLANT-BASED PROTEIN TO SURGE DEMAND	136
TABLE 48	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	137
TABLE 49	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	137
TABLE 50	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	137
TABLE 51	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	138
TABLE 52	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2018–2022 (USD MILLION)	138
TABLE 53	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2023–2028 (USD MILLION)	138
7.7.2	SOY	139
TABLE 54	FERMENTED SOY PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	139
TABLE 55	FERMENTED SOY PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	139
7.7.3	PEA	140
TABLE 56	FERMENTED PEA PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	140
TABLE 57	FERMENTED PEA PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	140
7.7.4	RICE	140
TABLE 58	FERMENTED RICE PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	141
TABLE 59	FERMENTED RICE PROTEIN: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	141
7.7.5	OTHER FERMENTED PROTEIN SUBTYPES	141
TABLE 60	OTHER FERMENTED PROTEIN SUBTYPES: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	142
TABLE 61	OTHER FERMENTED PROTEIN SUBTYPES: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	142
7.8	OTHER SOURCES	142
TABLE 62	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	143
TABLE 63	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	143
TABLE 64	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	143
TABLE 65	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	144
8	PLANT-BASED PROTEIN MARKET, BY TYPE	145
8.1	INTRODUCTION	146
FIGURE 35	PLANT-BASED PROTEIN MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)	146
TABLE 66	PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	146
TABLE 67	PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	147
TABLE 68	SOY: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	147
TABLE 69	SOY: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	147
TABLE 70	WHEAT: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	147
TABLE 71	WHEAT: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	148
TABLE 72	PEA: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	148
TABLE 73	PEA: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	148
TABLE 74	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	148
TABLE 75	CANOLA, RICE, AND POTATO: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	149
TABLE 76	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	149
TABLE 77	BEANS & SEEDS: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	149
TABLE 78	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	149
TABLE 79	FERMENTED PROTEIN: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	150
TABLE 80	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY TYPE, 2018–2022 (USD MILLION)	150
TABLE 81	OTHER SOURCES: PLANT-BASED PROTEIN MARKET, BY TYPE, 2023–2028 (USD MILLION)	150
8.2	CONCENTRATES	151
8.2.1	APPLICATION OF PROTEIN CONCENTRATES ACROSS FOOD AND NUTRITION SUPPLEMENTS TO DRIVE DEMAND	151
TABLE 82	CONCENTRATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	151
TABLE 83	CONCENTRATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	152
8.3	ISOLATES	152
8.3.1	APPLICATION OF PLANT-PROTEIN ISOLATES IN INFANT FOODS AND THEIR STRONG DEMAND DUE TO THEIR HIGH PROTEIN CONTENT TO DRIVE GROWTH	152
TABLE 84	ISOLATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	153
TABLE 85	ISOLATES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	153
8.4	TEXTURED	153
8.4.1	GROWING HEALTH CONCERNS TO DRIVE PREFERENCE FOR PLANT-BASED MEAT, LEADING TO RISING DEMAND FOR TEXTURED PLANT PROTEIN	153
TABLE 86	TEXTURED: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	154
TABLE 87	TEXTURED: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	155
9	PLANT-BASED PROTEIN MARKET, BY APPLICATION	156
9.1	INTRODUCTION	157
FIGURE 36	PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)	157
TABLE 88	PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	158
TABLE 89	PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	158
9.2	FOOD & BEVERAGES	158
9.2.1	INCREASED CONSUMPTION OF PLANT-BASED MEAT AND DAIRY ALTERNATIVES TO DRIVE GROWTH	158
TABLE 90	FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	159
TABLE 91	FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	159
TABLE 92	FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2018–2022 (USD MILLION)	160
TABLE 93	FOOD & BEVERAGES: PLANT-BASED PROTEIN MARKET, BY SUBTYPE, 2023–2028 (USD MILLION)	160
9.2.2	MEAT ALTERNATIVES	160
9.2.3	DAIRY ALTERNATIVES	161
FIGURE 37	GLOBAL PLANT-BASED MILK SALES: HISTORICAL GROWTH, 2016–2022 (USD MILLION)	162
9.2.4	BAKERY PRODUCTS	162
9.2.5	PERFORMANCE NUTRITION	162
9.2.6	CONVENIENCE FOODS	163
9.2.7	OTHER FOOD & BEVERAGE APPLICATIONS	163
9.3	FEED	163
9.3.1	INCREASED DEMAND FOR CLEAN-LABEL AND SUSTAINABLE FEED PRODUCTS TO DRIVE DEMAND FOR PLANT-BASED PROTEIN	163
TABLE 94	FEED: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	164
TABLE 95	FEED: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	164
10	PLANT-BASED PROTEIN MARKET, BY NATURE	165
10.1	INTRODUCTION	166
FIGURE 38	PLANT-BASED PROTEIN MARKET, BY NATURE, 2023 VS. 2028 (USD MILLION)	166
TABLE 96	PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION)	166
TABLE 97	PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION)	167
10.2	CONVENTIONAL	167
10.2.1	GROWING UTILIZATION OF PLANT-BASED FOOD PRODUCTS IN FOOD AND FEED INDUSTRIES TO STIMULATE EXPANSION OF CONVENTIONAL PROTEIN SOURCES	167
TABLE 98	CONVENTIONAL: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	167
TABLE 99	CONVENTIONAL: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	168
10.3	ORGANIC	168
10.3.1	GROWTH OF ORGANIC PLANT-BASED PROTEIN PRODUCTS TO BE FUELED BY RISING DEMAND FOR CLEAN-LABEL INGREDIENTS	168
TABLE 100	ORGANIC: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	169
TABLE 101	ORGANIC: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	169
11	PLANT-BASED PROTEIN MARKET, BY FORM	170
11.1	INTRODUCTION	171
FIGURE 39	PLANT-BASED PROTEIN MARKET, BY FORM, 2023 VS. 2028 (USD MILLION)	171
TABLE 102	PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION)	171
TABLE 103	PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION)	172
11.2	DRY	172
11.2.1	INCREASING APPLICATIONS OF DRY PROTEIN PRODUCTS IN PLANT-BASED FOOD & BEVERAGE INDUSTRY TO DRIVE MARKET GROWTH	172
TABLE 104	DRY: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	172
TABLE 105	DRY: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	173
11.3	LIQUID	173
11.3.1	HIGHER PROTEIN ENRICHMENT REQUIREMENTS IN NUTRITIONAL SUPPLEMENTS TO DRIVE GROWTH OF LIQUID PLANT PROTEIN	173
TABLE 106	LIQUID: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	174
TABLE 107	LIQUID: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	174
12	PLANT-BASED PROTEIN MARKET, BY REGION	175
12.1	INTRODUCTION	176
FIGURE 40	JAPAN TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD	177
TABLE 108	PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION)	177
TABLE 109	PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION)	178
TABLE 110	PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (KT)	178
TABLE 111	PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (KT)	178
12.2	NORTH AMERICA	179
FIGURE 41	NORTH AMERICA: REGIONAL SNAPSHOT	180
12.2.1	NORTH AMERICA: RECESSION IMPACT ANALYSIS	180
FIGURE 42	NORTH AMERICA: INFLATION RATES, BY COUNTRY, 2017–2022	181
FIGURE 43	NORTH AMERICA: RECESSION IMPACT ANALYSIS	182
TABLE 112	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	182
TABLE 113	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	182
TABLE 114	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	183
TABLE 115	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	183
TABLE 116	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT)	184
TABLE 117	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT)	184
TABLE 118	NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2018–2022 (USD MILLION)	184
TABLE 119	NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2023–2028 (USD MILLION)	185
TABLE 120	NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	185
TABLE 121	NORTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	185
TABLE 122	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION)	186
TABLE 123	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION)	186
TABLE 124	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	186
TABLE 125	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	186
TABLE 126	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION)	187
TABLE 127	NORTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION)	187
12.2.2	US	187
12.2.2.1	Rise in awareness regarding environmental and personal health benefits to drive preference for plant-based ingredients	187
TABLE 128	US: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	188
TABLE 129	US: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	189
TABLE 130	US: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	189
TABLE 131	US: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	189
12.2.3	CANADA	190
12.2.3.1	Capitalization on large-scale shift toward flexitarian diets by prominent players to drive production	190
TABLE 132	CANADA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	190
TABLE 133	CANADA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	191
TABLE 134	CANADA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	191
TABLE 135	CANADA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	191
12.2.4	MEXICO	192
12.2.4.1	Evolving consumer preferences and increasing demand for nutritious pet foods to stimulate market growth	192
TABLE 136	MEXICO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	192
TABLE 137	MEXICO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	193
TABLE 138	MEXICO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	193
TABLE 139	MEXICO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	193
12.3	EUROPE	194
12.3.1	EUROPE: RECESSION IMPACT ANALYSIS	194
FIGURE 44	EUROPE: INFLATION RATES, BY KEY COUNTRY, 2017–2022	195
FIGURE 45	EUROPE: RECESSION IMPACT ANALYSIS	196
TABLE 140	EUROPE: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	196
TABLE 141	EUROPE: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	197
TABLE 142	EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	197
TABLE 143	EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	198
TABLE 144	EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT)	198
TABLE 145	EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT)	198
TABLE 146	EUROPE: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2018–2022 (USD MILLION)	199
TABLE 147	EUROPE: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2023–2028 (USD MILLION)	199
TABLE 148	EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	199
TABLE 149	EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, 2023–2028 (USD MILLION)	200
TABLE 150	EUROPE: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	200
TABLE 151	EUROPE: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	200
TABLE 152	EUROPE: PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION)	200
TABLE 153	EUROPE: PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION)	201
TABLE 154	EUROPE: PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION)	201
TABLE 155	EUROPE: PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION)	201
12.3.2	UK	201
12.3.2.1	Increasing vegan population to drive plant-based protein market	201
TABLE 156	UK: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	202
TABLE 157	UK: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	202
TABLE 158	UK: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	203
TABLE 159	UK: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	203
12.3.3	GERMANY	203
12.3.3.1	Increasing dependence on plant-based foods and high adoption rate of flexitarian diets to boost growth of plant-based protein	203
TABLE 160	GERMANY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	204
TABLE 161	GERMANY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	204
TABLE 162	GERMANY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	205
TABLE 163	GERMANY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	205
12.3.4	ITALY	205
12.3.4.1	Rapidly changing consumer preferences from conventional to plant-based protein to drive market	205
TABLE 164	ITALY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	206
TABLE 165	ITALY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	206
TABLE 166	ITALY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	207
TABLE 167	ITALY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	207
12.3.5	FRANCE	207
12.3.5.1	Government support to develop domestic plant-based protein production and reduce imports to drive growth	207
TABLE 168	FRANCE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	208
TABLE 169	FRANCE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	209
TABLE 170	FRANCE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	209
TABLE 171	FRANCE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	209
12.3.6	NETHERLANDS	210
12.3.6.1	Increasing popularity of plant-based foods due to their health and environmental benefits to drive demand for plant protein	210
TABLE 172	NETHERLANDS: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	210
TABLE 173	NETHERLANDS: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	211
TABLE 174	NETHERLANDS: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	211
TABLE 175	NETHERLANDS: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	211
12.3.7	SPAIN	212
12.3.7.1	Product innovation and increased consumption of plant-based convenience foods to drive market	212
TABLE 176	SPAIN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	212
TABLE 177	SPAIN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	213
TABLE 178	SPAIN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	213
TABLE 179	SPAIN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	213
12.3.8	TURKEY	214
12.3.8.1	Health advantages linked to plant-centered diets to bolster demand for plant-based protein	214
TABLE 180	TURKEY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	214
TABLE 181	TURKEY: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	214
TABLE 182	TURKEY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	215
TABLE 183	TURKEY: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	215
12.3.9	POLAND	215
12.3.9.1	Evolving consumer preferences and health awareness to spur market growth	215
TABLE 184	POLAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	216
TABLE 185	POLAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	216
TABLE 186	POLAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	216
TABLE 187	POLAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	217
12.3.10	REST OF EUROPE	217
TABLE 188	REST OF EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION)	217
TABLE 189	REST OF EUROPE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION)	218
TABLE 190	REST OF EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION)	218
TABLE 191	REST OF EUROPE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION)	218
FIGURE 46 ASIA PACIFIC: MARKET SNAPSHOT 220
12.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 220
FIGURE 47 ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2017–2022 221
FIGURE 48 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 221
TABLE 192 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 222
TABLE 193 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 222
TABLE 194 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 223
TABLE 195 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 223
TABLE 196 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT) 223
TABLE 197 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT) 224
TABLE 198 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2018–2022 (USD MILLION) 224
TABLE 199 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2023–2028 (USD MILLION) 224
TABLE 200 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 225
TABLE 201 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 225
TABLE 202 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION) 225
TABLE 203 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION) 225
TABLE 204 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 226
TABLE 205 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 226
TABLE 206 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION) 226
TABLE 207 ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION) 226
12.4.2 CHINA 227
12.4.2.1 Demand for products with health benefits to drive market growth 227
TABLE 208 CHINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 228
TABLE 209 CHINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 228
TABLE 210 CHINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 228
TABLE 211 CHINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, 2023–2028 (USD MILLION) 229
12.4.3 JAPAN 229
12.4.3.1 Ageing population and rising consumption of plant-based convenience foods to drive market growth 229
TABLE 212 JAPAN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 230
TABLE 213 JAPAN: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 230
TABLE 214 JAPAN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 230
TABLE 215 JAPAN: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 231
12.4.4 AUSTRALIA & NEW ZEALAND 231
12.4.4.1 Investments from key players and rising vegan population to drive growth of plant-based protein 231
TABLE 216 AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 232
TABLE 217 AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 232
TABLE 218 AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 232
TABLE 219 AUSTRALIA & NEW ZEALAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 233
12.4.5 INDIA 233
12.4.5.1 Evolving dietary preferences and increasing coronary heart diseases to drive demand for plant-based protein 233
TABLE 220 INDIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 234
TABLE 221 INDIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 234
TABLE 222 INDIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 234
TABLE 223 INDIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 235
12.4.6 SOUTH KOREA 235
12.4.6.1 Significant shift toward alternative proteins and rising food safety concerns to spur growth 235
TABLE 224 SOUTH KOREA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 235
TABLE 225 SOUTH KOREA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 236
TABLE 226 SOUTH KOREA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 236
TABLE 227 SOUTH KOREA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 236
12.4.7 INDONESIA 237
12.4.7.1 Growing demand for soy protein in food products and animal feed to boost market expansion 237
TABLE 228 INDONESIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 237
TABLE 229 INDONESIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 237
TABLE 230 INDONESIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 238
TABLE 231 INDONESIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 238
12.4.8 MALAYSIA 238
12.4.8.1 Influence of Buddhism and Hinduism to contribute to popularity of vegetarianism 238
TABLE 232 MALAYSIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 239
TABLE 233 MALAYSIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 239
TABLE 234 MALAYSIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 239
TABLE 235 MALAYSIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 240
12.4.9 PHILIPPINES 240
12.4.9.1 Surge in health and wellness trends to persuade people to prefer protein-based food products 240
TABLE 236 PHILIPPINES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 240
TABLE 237 PHILIPPINES: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 241
TABLE 238 PHILIPPINES: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 241
TABLE 239 PHILIPPINES: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 241
12.4.10 VIETNAM 242
12.4.10.1 Environmental issues and concerns related to carbon footprint of animal agriculture to drive growth 242
TABLE 240 VIETNAM: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 242
TABLE 241 VIETNAM: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 242
TABLE 242 VIETNAM: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 243
TABLE 243 VIETNAM: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 243
12.4.11 THAILAND 243
12.4.11.1 Rising awareness regarding environmental impact of meat industry to encourage market growth 243
TABLE 244 THAILAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 244
TABLE 245 THAILAND: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 244
TABLE 246 THAILAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 244
TABLE 247 THAILAND: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 245
12.4.12 REST OF ASIA PACIFIC 245
TABLE 248 REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 245
TABLE 249 REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 246
TABLE 250 REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 246
TABLE 251 REST OF ASIA PACIFIC: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 246
12.5 SOUTH AMERICA 247
12.5.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 247
FIGURE 49 SOUTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2017–2022 248
FIGURE 50 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 248
TABLE 252 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 249
TABLE 253 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 249
TABLE 254 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 249
TABLE 255 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 250
TABLE 256 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2018–2022 (USD MILLION) 250
TABLE 257 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2023–2028 (USD MILLION) 250
TABLE 258 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 251
TABLE 259 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 251
TABLE 260 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT) 251
TABLE 261 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT) 252
TABLE 262 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 252
TABLE 263 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 252
TABLE 264 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION) 252
TABLE 265 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION) 253
TABLE 266 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION) 253
TABLE 267 SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION) 253
12.5.2 BRAZIL 253
12.5.2.1 High processing and export capabilities coupled with increased adoption of plant-based foods to drive growth 253
TABLE 268 BRAZIL: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 254
TABLE 269 BRAZIL: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 255
TABLE 270 BRAZIL: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 255
TABLE 271 BRAZIL: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 255
12.5.3 ARGENTINA 256
12.5.3.1 Environmental, nutritional, and animal welfare concerns among youth to drive demand for plant-based protein 256
TABLE 272 ARGENTINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 256
TABLE 273 ARGENTINA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 257
TABLE 274 ARGENTINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 257
TABLE 275 ARGENTINA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 257
12.5.4 COLUMBIA 258
12.5.4.1 Rapid surge in vegan population to encourage popularity of plant-based protein 258
TABLE 276 COLUMBIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 258
TABLE 277 COLUMBIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 259
TABLE 278 COLUMBIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 259
TABLE 279 COLUMBIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 259
12.5.5 PERU 260
12.5.5.1 Environmental considerations, nutritional awareness, and concerns about animal welfare to spur market 260
TABLE 280 PERU: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 260
TABLE 281 PERU: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 261
TABLE 282 PERU: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 261
TABLE 283 PERU: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 261
12.5.6 CHILE 262
12.5.6.1 Focus on promoting a vegan-friendly lifestyle to boost growth 262
TABLE 284 CHILE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 262
TABLE 285 CHILE: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 263
TABLE 286 CHILE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 263
TABLE 287 CHILE: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 263
12.5.7 REST OF SOUTH AMERICA 264
TABLE 288 REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 264
TABLE 289 REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 264
TABLE 290 REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 265
TABLE 291 REST OF SOUTH AMERICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 265
12.6 REST OF THE WORLD (ROW) 265
12.6.1 ROW: RECESSION IMPACT ANALYSIS 266
FIGURE 51 ROW: RECESSION IMPACT ANALYSIS 267
TABLE 292 ROW: PLANT-BASED PROTEIN MARKET, BY REGION, 2018–2022 (USD MILLION) 267
TABLE 293 ROW: PLANT-BASED PROTEIN MARKET, BY REGION, 2023–2028 (USD MILLION) 267
TABLE 294 ROW: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 268
TABLE 295 ROW: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 268
TABLE 296 ROW: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (KT) 269
TABLE 297 ROW: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (KT) 269
TABLE 298 ROW: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2018–2022 (USD MILLION) 269
TABLE 299 ROW: PLANT-BASED PROTEIN MARKET FOR PEA, BY SUBTYPE, 2023–2028 (USD MILLION) 270
TABLE 300 ROW: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 270
TABLE 301 ROW: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 270
TABLE 302 ROW: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 270
TABLE 303 ROW: PLANT-BASED PROTEIN MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 271
TABLE 304 ROW: PLANT-BASED PROTEIN MARKET, BY FORM, 2018–2022 (USD MILLION) 271
TABLE 305 ROW: PLANT-BASED PROTEIN MARKET, BY FORM, 2023–2028 (USD MILLION) 271
TABLE 306 ROW: PLANT-BASED PROTEIN MARKET, BY NATURE, 2018–2022 (USD MILLION) 271
TABLE 307 ROW: PLANT-BASED PROTEIN MARKET, BY NATURE, 2023–2028 (USD MILLION) 271
12.6.2 AFRICA 272
12.6.2.1 Favorable processing conditions coupled with rising consumer awareness about health issues to boost market growth 272
TABLE 308 AFRICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 272
TABLE 309 AFRICA: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 272
TABLE 310 AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 273
TABLE 311 AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 273
TABLE 312 AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 273
TABLE 313 AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 274
12.6.2.2 South Africa 274
TABLE 314 SOUTH AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 274
TABLE 315 SOUTH AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 275
TABLE 316 SOUTH AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 275
TABLE 317 SOUTH AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 275
12.6.2.3 Morocco 276
TABLE 318 MOROCCO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 276
TABLE 319 MOROCCO: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 276
TABLE 320 MOROCCO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 277
TABLE 321 MOROCCO: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 277
12.6.2.4 Algeria 277
TABLE 322 ALGERIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 278
TABLE 323 ALGERIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 278
TABLE 324 ALGERIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 278
TABLE 325 ALGERIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 279
12.6.2.5 Kenya 279
TABLE 326 KENYA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 279
TABLE 327 KENYA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 280
TABLE 328 KENYA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 280
TABLE 329 KENYA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 280
12.6.2.6 Rest of Africa 281
TABLE 330 REST OF AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 281
TABLE 331 REST OF AFRICA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 282
TABLE 332 REST OF AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 282
TABLE 333 REST OF AFRICA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 282
12.6.3 MIDDLE EAST 283
12.6.3.1 Demand for plant-based convenience foods to drive growth of plant-based protein industry 283
TABLE 334 MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 283
TABLE 335 MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 283
TABLE 336 MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 283
TABLE 337 MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 284
TABLE 338 MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 284
TABLE 339 MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 284
12.6.3.2 Saudi Arabia 285
TABLE 340 SAUDI ARABIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 285
TABLE 341 SAUDI ARABIA: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 285
TABLE 342 SAUDI ARABIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 286
TABLE 343 SAUDI ARABIA: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 286
12.6.3.3 Rest of Middle East 286
TABLE 344 REST OF MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018–2022 (USD MILLION) 287
TABLE 345 REST OF MIDDLE EAST: PLANT-BASED PROTEIN MARKET, BY SOURCE, 2023–2028 (USD MILLION) 287
TABLE 346 REST OF MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2018–2022 (USD MILLION) 287
TABLE 347 REST OF MIDDLE EAST: PLANT-BASED PROTEIN MARKET FOR FERMENTED PROTEIN, BY SUBTYPE, 2023–2028 (USD MILLION) 288
13 COMPETITIVE LANDSCAPE 289
13.1 OVERVIEW 289
13.2 MARKET SHARE ANALYSIS 289
TABLE 348 PLANT-BASED PROTEIN MARKET: INTENSITY OF COMPETITIVE RIVALRY 290
13.3 STRATEGIES ADOPTED BY KEY PLAYERS 290
TABLE 349 STRATEGIES ADOPTED BY KEY PLAYERS 290
13.4 HISTORICAL REVENUE ANALYSIS FOR KEY PLAYERS 292
FIGURE 52 HISTORICAL REVENUE ANALYSIS FOR KEY PLAYERS, 2018–2022 (USD BILLION) 292
13.5 ANNUAL REVENUE VS. GROWTH (KEY PLAYERS) 293
FIGURE 53 ANNUAL REVENUE, 2022 (USD BILLION) VS. REVENUE GROWTH, 2020–2022 293
13.6 EBITDA OF KEY PLAYERS 294
FIGURE 54 EBITDA OF KEY PLAYERS, 2022 (USD BILLION) 294
13.7 GLOBAL SNAPSHOT OF KEY MARKET PARTICIPANTS 294
FIGURE 55 GLOBAL SNAPSHOT OF KEY MARKET PARTICIPANTS, 2022 294
13.8 COMPANY EVALUATION MATRIX FOR KEY PLAYERS 295
13.8.1 STARS 295
13.8.2 EMERGING LEADERS 295
13.8.3 PERVASIVE PLAYERS 295
13.8.4 PARTICIPANTS 296
FIGURE 56 COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2022 296
13.8.5 COMPANY FOOTPRINT 297
TABLE 350 COMPANY FOOTPRINT, BY SOURCE 297
TABLE 351 COMPANY FOOTPRINT, BY TYPE 298
TABLE 352 COMPANY FOOTPRINT, BY APPLICATION 299
TABLE 353 COMPANY FOOTPRINT, BY REGION 300
TABLE 354 OVERALL COMPANY FOOTPRINT 301
13.9 START-UP/SME EVALUATION MATRIX 302
13.9.1 PROGRESSIVE COMPANIES 302
13.9.2 RESPONSIVE COMPANIES 302
13.9.3 DYNAMIC COMPANIES 302
13.9.4 STARTING BLOCKS 302
FIGURE 57 START-UP/SME EVALUATION MATRIX, 2022 303
13.9.5 COMPETITIVE BENCHMARKING 304
TABLE 355 DETAILED LIST OF KEY START-UPS/SMES 304
TABLE 356 COMPETITIVE BENCHMARKING OF START-UPS/SMES 305
13.10 COMPETITIVE SCENARIO 306
13.10.1 PRODUCT LAUNCHES 306
TABLE 357 PLANT-BASED PROTEIN MARKET: PRODUCT LAUNCHES, 2019–2021 306
13.10.2 DEALS 307
TABLE 358 PLANT-BASED PROTEIN MARKET: DEALS, 2019–2022 307
13.10.3 OTHERS 310
TABLE 359 PLANT-BASED PROTEIN MARKET: OTHERS, 2019–2022 310
14 COMPANY PROFILES 314
14.1 KEY PLAYERS 314
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
14.1.1 ADM 314
TABLE 360 ADM: BUSINESS OVERVIEW 314
FIGURE 58 ADM: COMPANY SNAPSHOT 315
TABLE 361 ADM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 315
TABLE 362 ADM: PRODUCT LAUNCHES 317
TABLE 363 ADM: DEALS 317
TABLE 364 ADM: OTHERS 318
14.1.2 CARGILL, INCORPORATED 319
TABLE 365 CARGILL, INCORPORATED: BUSINESS OVERVIEW 319
FIGURE 59 CARGILL, INCORPORATED: COMPANY SNAPSHOT 319
TABLE 366 CARGILL, INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 320
TABLE 367 CARGILL, INCORPORATED: OTHERS 320
14.1.3 INTERNATIONAL FLAVORS & FRAGRANCES INC. 322
TABLE 368 INTERNATIONAL FLAVORS & FRAGRANCES INC.: BUSINESS OVERVIEW 322
FIGURE 60 INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT 323
TABLE 369 INTERNATIONAL FLAVORS & FRAGRANCES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 323
14.1.4 INGREDION 325
TABLE 370 INGREDION: BUSINESS OVERVIEW 325
FIGURE 61 INGREDION: COMPANY SNAPSHOT 326
TABLE 371 INGREDION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 326
TABLE 372 INGREDION: PRODUCT LAUNCHES 327
TABLE 373 INGREDION: DEALS 327
TABLE 374 INGREDION: OTHERS 328
14.1.5 ROQUETTE FRÈRES 329
TABLE 375 ROQUETTE FRÈRES: BUSINESS OVERVIEW 329
TABLE 376 ROQUETTE FRÈRES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 329
TABLE 377 ROQUETTE FRÈRES: DEALS 330
TABLE 378 ROQUETTE FRÈRES: OTHERS 330
14.1.6 WILMAR INTERNATIONAL LTD. 332
TABLE 379 WILMAR INTERNATIONAL LTD.: BUSINESS OVERVIEW 332
FIGURE 62 WILMAR INTERNATIONAL LTD.: COMPANY SNAPSHOT 333
TABLE 380 WILMAR INTERNATIONAL LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 333
14.1.7 GLANBIA PLC 334
TABLE 381 GLANBIA PLC: BUSINESS OVERVIEW 334
FIGURE 63 GLANBIA PLC: COMPANY SNAPSHOT 335
TABLE 382 GLANBIA PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 335
TABLE 383 GLANBIA PLC: PRODUCT LAUNCHES 336
TABLE 384 GLANBIA PLC: DEALS 336
14.1.8 KERRY GROUP PLC 337
TABLE 385 KERRY GROUP PLC: BUSINESS OVERVIEW 337
FIGURE 64 KERRY GROUP PLC: COMPANY SNAPSHOT 338
TABLE 386 KERRY GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 338
TABLE 387 KERRY GROUP PLC: DEALS 339
TABLE 388 KERRY GROUP PLC: OTHERS 339
14.1.9 DSM 340
TABLE 389 DSM: BUSINESS OVERVIEW 340
FIGURE 65 DSM: COMPANY SNAPSHOT 341
TABLE 390 DSM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 341
TABLE 391 DSM: DEALS 342
14.1.10 AGT FOOD AND INGREDIENTS 343
TABLE 392 AGT FOOD AND INGREDIENTS: BUSINESS OVERVIEW 343
TABLE 393 AGT FOOD AND INGREDIENTS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 343
TABLE 394 AGT FOOD AND INGREDIENTS: DEALS 344
14.1.11 BURCON NUTRASCIENCE CORPORATION 345
TABLE 395 BURCON NUTRASCIENCE CORPORATION: BUSINESS OVERVIEW 345
FIGURE 66 BURCON NUTRASCIENCE CORPORATION: COMPANY SNAPSHOT 345
TABLE 396 BURCON NUTRASCIENCE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 346
TABLE 397 BURCON NUTRASCIENCE CORPORATION: DEALS 346
TABLE 398 BURCON NUTRASCIENCE CORPORATION: OTHERS 347
14.1.12 EMSLAND GROUP 348
TABLE 399 EMSLAND GROUP: BUSINESS OVERVIEW 348
TABLE 400 EMSLAND GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 348
TABLE 401 EMSLAND GROUP: DEALS 349
14.1.13 PURIS 350
TABLE 402 PURIS: BUSINESS OVERVIEW 350
TABLE 403 PURIS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 350
TABLE 404 PURIS: OTHERS 351
14.1.14 COSUCRA 352
TABLE 405 COSUCRA: BUSINESS OVERVIEW 352
TABLE 406 COSUCRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 352
TABLE 407 COSUCRA: PRODUCT LAUNCHES 353
TABLE 408 COSUCRA: OTHERS 353
14.1.15 TATE & LYLE 354
TABLE 409 TATE & LYLE: BUSINESS OVERVIEW 354
FIGURE 67 TATE & LYLE: COMPANY SNAPSHOT 355
TABLE 410 TATE & LYLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 355
TABLE 411 TATE & LYLE: DEALS 356
14.2 OTHER PLAYERS/START-UPS/SMES 357
14.2.1 BENEO GMBH 357
TABLE 412 BENEO GMBH: BUSINESS OVERVIEW 357
TABLE 413 BENEO GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED 357
TABLE 414 BENEO GMBH: DEALS 358
TABLE 415 BENEO GMBH: OTHERS 358
14.2.2 SOTEXPRO 360
TABLE 416 SOTEXPRO: BUSINESS OVERVIEW 360
TABLE 417 SOTEXPRO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 360
14.2.3 SHANDONG JIANYUAN GROUP 362
TABLE 418 SHANDONG JIANYUAN GROUP: BUSINESS OVERVIEW 362
TABLE 419 SHANDONG JIANYUAN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 362
14.2.4 AMCO PROTEINS 363
TABLE 420 AMCO PROTEINS: BUSINESS OVERVIEW 363
TABLE 421 AMCO PROTEINS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 363
TABLE 422 AMCO PROTEINS: OTHERS 364
14.2.5 AUSTRALIAN PLANT PROTEINS PTY LTD. 365
TABLE 423 AUSTRALIAN PLANT PROTEINS PTY LTD.: BUSINESS OVERVIEW 365
TABLE 424 AUSTRALIAN PLANT PROTEINS PTY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 365
14.2.6 NUTRAFERMA, INC. 367
TABLE 425 NUTRAFERMA, INC.: BUSINESS OVERVIEW 367
TABLE 426 NUTRAFERMA, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 367
14.2.7 MYCOTECHNOLOGY, INC. 368
TABLE 427 MYCOTECHNOLOGY, INC.: BUSINESS OVERVIEW 368
TABLE 428 MYCOTECHNOLOGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 368
TABLE 429 MYCOTECHNOLOGY, INC.: PRODUCT LAUNCHES 369
TABLE 430 MYCOTECHNOLOGY, INC.: DEALS 369
TABLE 431 MYCOTECHNOLOGY, INC.: OTHERS 370
14.2.8 EUROPEAN PROTEIN A/S 371
TABLE 432 EUROPEAN PROTEIN A/S: BUSINESS OVERVIEW 371
TABLE 433 EUROPEAN PROTEIN A/S: PRODUCTS/SOLUTIONS/SERVICES OFFERED 371
14.2.9 AXIOM FOODS, INC. 373
14.2.10 AMINOLA 374
14.2.11 THE GREEN LABS LLC. 375
14.2.12 ETCHEM 376
14.2.13 PROEON 377
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
15 ADJACENT AND RELATED MARKETS 378
15.1 INTRODUCTION 378
TABLE 434 MARKETS ADJACENT TO PLANT-BASED PROTEIN MARKET 378
15.2 LIMITATIONS 378
15.3 PEA PROTEIN MARKET 379
15.3.1 MARKET DEFINITION 379
15.3.2 MARKET OVERVIEW 379
15.3.3 PEA PROTEIN MARKET, BY FORM 379
TABLE 435 PEA PROTEIN MARKET, BY FORM, 2017–2020 (USD MILLION) 380
TABLE 436 PEA PROTEIN MARKET, BY FORM, 2021–2027 (USD MILLION) 380
15.3.4 PEA PROTEIN MARKET, BY REGION 380
TABLE 437 PEA PROTEIN MARKET, BY REGION, 2017–2020 (USD MILLION) 380
TABLE 438 PEA PROTEIN MARKET, BY REGION, 2021–2027 (USD MILLION) 381
15.4 SOY PROTEIN INGREDIENTS MARKET 381
15.4.1 MARKET DEFINITION 381
15.4.2 MARKET OVERVIEW 381
15.4.3 SOY PROTEIN INGREDIENTS MARKET, BY TYPE 382
TABLE 439 SOY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2021 (USD MILLION) 382
TABLE 440 SOY PROTEIN INGREDIENTS MARKET, BY TYPE, 2022–2027 (USD MILLION) 382
15.4.4 SOY PROTEIN INGREDIENTS MARKET, BY REGION 383
TABLE 441 SOY PROTEIN INGREDIENTS MARKET, BY REGION, 2018–2021 (USD MILLION) 383
TABLE 442 SOY PROTEIN INGREDIENTS MARKET, BY REGION, 2022–2027 (USD MILLION) 383
15.5 PROTEIN INGREDIENTS MARKET 384
15.5.1 MARKET DEFINITION 384
15.5.2 MARKET OVERVIEW 384
15.5.3 PROTEIN INGREDIENTS MARKET, BY SOURCE 384
TABLE 443 PROTEIN INGREDIENTS MARKET, BY SOURCE, 2019–2022 (USD MILLION) 385
TABLE 444 PROTEIN INGREDIENTS MARKET, BY SOURCE, 2023–2028 (USD MILLION) 385
15.5.4 PROTEIN INGREDIENTS MARKET, BY REGION 385
TABLE 445 PROTEIN INGREDIENTS MARKET, BY REGION, 2019–2022 (USD MILLION) 386
TABLE 446 PROTEIN INGREDIENTS MARKET, BY REGION, 2023–2028 (USD MILLION) 386
16 APPENDIX 387
16.1 DISCUSSION GUIDE 387
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 393
16.3 CUSTOMIZATION OPTIONS 395
16.4 RELATED REPORTS 395
16.5 AUTHOR DETAILS 396
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