Plant Proteins May Overtake Animal Proteins
Not only are vegetable proteins growing in popularity among health-conscious consumers, but they’re closing the gap on animal proteins in terms of market share. According to Infiniti Research, animal proteins currently make up 55 percent of the market, but plant proteins are closing the gap and are expected to account for almost 47 percent of the market by 2020. The global market for protein ingredients is expected to grow at a compound annual growth rate of six percent, but the plant protein market will grow at a CAGR of seven percent.
Infiniti Research analysts were asked to analyze the rapidly changing demand-supply shift in the vegetable protein market space to help a client better understand consumers’ acceptance levels and the appeal of pulse ingredients such as fava bean, lentil, pea, chickpea flours, and proteins across the U.S. and Canada.
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