Editor’s note: This is the second in a series that looks at the growth of the plant-based protein industry and how it could impact the poultry industry. Part I focuses on how plant protein won’t replace poultry.
The global plant-based protein market is rapidly growing, and according to one forecast, the market is expected to reach $10.9 billion by 2022.
According to the report, “Plant Based Protein Market – Global Opportunity Analysis and Industry Forecast,” the growth of the industry is being largely driven by increased awareness of the value of a protein-rich diet, as well as increased focus on meat alternatives.
The report takes a look at which companies are considered the major players in the global meatless protein industry, as well as the geographical regions where they are headquartered.
According to the report, made available through Research and Markets, the 21 major players in the plant-based protein market, and their country of origin are:
- Archer Daniels Midland Company, U.S.
- Cargill, U.S.
- Roquette Freres Le Romarin, France
- Ingredion, U.S.
- Kerry Group, Ireland
- E.I. Dupont De Nemours and Company, U.S.
- NOW Foods, U.S.
- Tate & Lyle Plc, U.K.
- Axiom Foods Inc., U.S.
- AMCO Proteins, U.S.
- Burcon Nutrascience Corporation, Canada
- Beneo GmbH, Germany
- Glico Nutrition Co., Japan
- Glanbia, Ireland
- Corbion, Netherlands
- Cosucra Groupe Warcoing, Belgium
- Sotexpro, France
- Farbest Brands, U.S.
- Crespel & Deiters GmbH & Co., Germany
- Wilmar International Ltd., Singapore
- CHS, U.S.
Geographic breakdown
The report breaks the global plant-based protein market into five major regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
Ten of the key players identified in the report are North American companies, and nine of those ten are based in the United States.
While the meatless protein industry is largely focused in the United States, the report identifies the Asia-Pacific region as one that will grow at a rapid pace, largely due to increased awareness of the value of a protein-rich diet, a growing food and beverage industry, and growing economy and an increasing percentage of the population that follows a vegan diet.
Presently, the only Asian companies listed as major players in the report are Japan’s Glico Nutrition Co. and Singapore’s Wilmar International.
