This growth can be credited to the increasing intolerance to animal protein, rising knowledge regarding healthy plant-based food, and snowballing customers’ spending.

In the past few years, the soybean category generated the largest revenue share. This is mainly due to the fact that soybeans are an outstanding source of fat and proteins, and their high fiber content is helpful to digestive well-being.

Thus, there is a huge demand for soybean to make protein items, and are being opted as the finest substitute for meat. Furthermore, such proteins are also utilized for several food applications, such as dairy replacers, emulsion-type sausages, and nutritive bars; and are also utilized as nutritional ingredients in aquaculture, livestock feed, and pet food items.

Browse detailed - Plant-Based Protein Market Revenue Estimation and Growth Forecast Report

As per the reports, vegans are at a lower risk of heart illnesses, diabetes, high blood pressure, and obesity. Though meat proteins offer the needed amino acid content to the body, they are connected with high cholesterol levels and other associated problems, as a result of which customers across emerging countries are choosing more vegan protein sources.

One of the main reasons boosting the industry for plant-based protein is the surge in buyer expenditure and development in the living standard of individuals throughout the globe. As per the World Bank, the total customer spending was USD 64.130 trillion in 2019 compared to USD 49.33 trillion in 2010.

Hence, the increasing intolerance to animal protein, rising knowledge regarding healthy plant-based food, and snowballing customer’ spending, are the major factors driving the plant-based protein industry.