The global food industry is witnessing a significant shift in consumer preferences for protein products, especially the growing demand for plant-based proteins.
Specifically, according to research by Innova Market Insights, most consumers globally are concerned about protein ingredients in their foods and beverages, including 89% of Latin Americans, 90% of Asians, 78% of North Americans, and 75% of Europeans.
This shows that the trend toward plant-based protein is a reflection of shifting consumer perceptions of sustainability, ethical issues, and health.
What is Plant-based Protein?
Plant-based protein is protein taken from plant sources such as beans, nuts, fruits, and grains. This is a protein option that is free of animal fat and low in cholesterol, suitable for people who are vegetarian or want to minimize their consumption of foods of animal origin.
Predictions from Markets and Markets show that the plant-based protein market will reach $19.2 billion by 2028, compound annual growth rate (CAGR) of 7.7% from 2023 to 2028, marking an opportunity for strong growth and development of this protein.
DRIVING FACTORS: THE POWER OF CHANGE
According to WHO research, in 2019, about 39% of adults (18 years and older) globally were overweight. With rising rates of obesity and related health conditions, consumers are becoming more conscious about their health and looking for natural, low-fat, and low-calorie food and beverage options.
The global livestock sector accounts for a significant amount of greenhouse gas emissions, contributing approximately 18% of total emissions.
In the agricultural sector, farm animals alone account for nearly 80% of these emissions. With growing concerns about the alarming environmental impact of traditional animal agriculture, many consumers are turning to plant-based options as a more sustainable option.
Plant-based proteins typically require fewer natural resources, and have a lower carbon and lower ecological footprint, aligning with the eco-conscious preferences of today's consumers.
More and more consumers are concerned about animal welfare and the ethical treatment of animals in the food industry. For consumers who seeking to curtail or completely give up their use of animal-based protein products, plant-based protein offers an ethical alternative.
According to the United Nations, the global population in 2021 is estimated at 7.9 billion people, and as of January 2021, the total number of vegetarians in the world is about 79 million people.
According to data provided by Google AdWords, 47% of searches for food products are vegan.
The growing global demand for plant-based protein products is primarily driven by growing consumer awareness of the benefits of incorporating plant-based protein sources into their diets.
ANIMAL PROTEIN INTOLERANCE
A report by the National Institute of Allergy and Infectious Diseases reveals that more than half of food allergies are caused by animal protein sources such as eggs, milk, fish, and red meat. Data show that meat protein allergies range from 1-4% in Europe alone, while about 10 million people in the US have animal food allergies.
Due to allergies to animal-based proteins, most consumers are leaning towards vegan protein sources, which is ultimately driving the plant-based protein market.
WHY PLANT-BASED PROTEIN IS A GOOD CHOICE?
Contains low levels of saturated fat and no cholesterol to help reduce the risk of diseases such as obesity, diabetes, cancer, and cardiovascular disease.
Rich in fiber, vitamins, and minerals, antioxidants help strengthen resistance and provide necessary nutrients for the development and maintenance of the body's health.
FOR THE ENVIRONMENT
Reduce greenhouse gas emissions.
Contribute to sustainability.
GroupG Asia Pacific always researches combined with an understanding of the market and customers to bring creative solutions for plant-based protein products applied in beverages, dairy-free drinks, and confectionery to meet market needs as well as solve customer problems.