The global plant-based protein market size was US$ 5.9 billion in 2021. The global plant-based protein market is forecast to grow to US$ 9.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the study period from 2022 to 2030.

Factors Influencing the Market
The fact that protein is highly essential for our bodies' development, maintenance, and repair is primarily driving the growth of the global plant-based protein market. Moreover, plant-based protein is derived from pulses, tofu, seitan, nuts, soya, beans, some grains, etc., which will also benefit the plant-based protein market during the study period.
Plant-based meat substitutes have been described as nutritious protein sources that offer several health benefits when compared to meat. Furthermore, there is a growing emphasis on reducing meat product consumption as a result of the high cost and limited supply of animal proteins in many countries. Thus, all of these factors will drive the demand for plant-based protein in the coming years.
The rising demand for plant-based protein from a variety of end-user industries is a major factor driving market growth. Plant-based proteins are extremely important on a global scale, and there is considerable interest in their ability to meet the increasing demand for protein from non-meat sources. Moreover, innovations like plant-based meat substitutes that look and taste like real meat will also contribute to the growth of the global plant-based protein market during the forecast period.
On the contrary, rising cases of health consequences and allergies associated with the consumption of plant-based protein may limit the growth of the market.

COVID-19 Impact Analysis
The global plant-based protein market has witnessed potential growth opportunities in the last two years due to the COVID-19 outbreak. Health consciousness among people increased due to the wake of the pandemic. Moreover, protein intake became necessary to fight the virus, which led to a rise in the demand for plant-based protein.

Regional Analysis
The global plant-based protein market is forecast to experience the highest growth rate in North America, owing to the rising awareness about the necessity of protein in the body. Furthermore, the demand for plant protein rapidly increasing because of changing lifestyles, improper diet habits, and increased R&D to produce new types of plant-protein products. Thus, it will fuel the demand for plant-based protein in the coming years. The market may also witness potential growth opportunities due to the surging demand for processed and low-cholesterol foods.
The Asia-Pacific plant-based protein market is forecast to witness several growth opportunities due to the large population of the region. Furthermore, the increasing prevalence of diseases associated with protein deficiency will also contribute to the growth of this regional market during the study period.

Competitors in the Market
Glanbia
Puris
Cosucra Group
Batory Foods
DSM
ADM
DuPont
Kerry Group
Cargill
Other Prominent Players

Market Segmentation
The global plant-based protein market segmentation focuses on Form, Source, Distribution Channel, and Region.
By Form
Dry
Liquid
By Source
Soy
Wheat
Pea
Other
By Distribution Channel
Convenience stores
Pharmacies
Hypermarkets & supermarkets
E-commerce platforms
Other
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America