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The global plant protein market is set for massive growth over the next few years according to a report by Research and Markets.
The author of the report, which covers growth prospects, claims the sector is going to grow at a CAGR [Compound Annual Growth Rate] of 8.29 per cent between 2017 and 2021.
According to the report: “One driver in the market is demand for high protein content products.
“Plant proteins, such as pea protein have 85 per cent of protein content, which is higher than other vegetable proteins. With protein levels similar to that of animal sources, it adequately meets the nutritional needs of the vegetarian and vegan populations.
“Pea protein and all other plant proteins such as wheat have complementary amino acid profiles, and when combined, offer improved nutritional benefits.”
Commenting on the report, an analyst from the research team said: “One trend in the market is increase in strategic alliances and partnerships.
“Vendors collaborate with raw material suppliers to facilitate uninterrupted supply. They also partner with distributors and food and beverage companies to ensure a steady market for plant proteins.
“New product launches as well as new investments in plants for production of protein and expansions have also been providing manufacturers growth opportunities in the market.”
The study’s author also looked at the challenges facing manufacturers in the sector, concluding: “One challenge in the market is threat associated with contamination during processing.
“During the processing of plant proteins such as yellow peas into proteins, there is a high risk of contamination by chemical solvents and other ingredients. Improper handling during any stage of processing can lead to food contamination, which, in turn, will affect the safety and quality of products.
“This can result in end-products being discarded or recalled, which could affect a company’s operation and sales.”