Summary

The North America Plant Protein Ingredients Market size is estimated at USD 5.04 billion in 2024, and is expected to reach USD 6.14 billion by 2029, growing at a CAGR of 4.03% during the forecast period (2024-2029).

• In 2022, the food and beverage segment witnessed the highest demand, followed by animal feed. The F&B segment recorded a CAGR of 4.63% during the study period. The rising utilization of plant proteins in animal feed and cosmetics has driven growth in recent years. The increase in demand for plant proteins in dairy and meat alternatives is expected to drive the segment during the forecast period.
• The increasing demand for protein functionalities, awareness about protein-rich diets, and new technological developments primarily drive the demand for plant proteins in the market. Among all food and beverage segments, meat alternatives lead the demand in the protein market, owing to the proteins' ability to mimic muscle meat texture. They can also be used for protein fortification in meat-alternative products. In 2022, meat alternatives claimed a 41% share of the overall plant proteins consumed in the food and beverage segment. However, the supplement segment is expected to register the highest demand for plant proteins, with a volume CAGR of 6.12% during the forecast period. The demand is high due to increased daily nutritional requirements as a result of changing lifestyles, especially in the sport/performance nutrition category.
• The meat/poultry/fish and meat alternatives segment represented 19.62% of the total protein consumed in the region in 2022. Textured vegetable protein, made from wheat protein or soy protein, has emerged as a major ingredient for plant-based meat manufacturers since it can closely resemble the sensory properties of meat products. As awareness regarding the adverse effects of consuming meat products increases in the country, manufacturers are looking for new ways to replace meat in their products, and TVP is one of the prime choices.

• The United States remained the largest plant protein-consuming country in the region during the study period. Its share was majorly influenced by the growing demand for plant-based food products amid rising veganism, environmental concerns, and the demand for sustainable protein sources. In 2022, the retail sales of plant-based food products in the United States increased by 27% compared to the previous year. Thus, the surging demand at the retail end is further expected to boost volume sales of plant proteins. Around 61% of consumers in the United States consider plants to be a preferred protein source over animal-based proteins, which is expected to boost market growth.
• On the other hand, Canada and Mexico held a minor volume share in 2022, majorly driven by the F&B and animal feed sectors. The Canadian market is growing in line with the increasing research studies conducted in the segment, boosting consumer interest. In line with the growing market demand, investments are also increasing. In 2021, Protein Industries Canada invested USD 9.7 million in plant protein projects for brands like Daiya and Merit Functional Foods.
• In terms of growth, Mexico is expected to be the fastest-growing country in the regional market, with a projected CAGR of 6.67%, by value, during the forecast period, owing to the growing acceptance of plant proteins among Mexicans, particularly as meat alternatives. The demand from the growing vegan population in the country mainly drives the Mexican plant proteins market. As of 2021, 20% of Mexicans identified themselves as vegetarians or vegans. Mexican food has been traditionally plant-based, and this return to plant-based food has given chefs and restaurants an opportunity to showcase their heritage creatively.

North America Plant Protein Ingredients Market Trends

Plant protein consumption growth fuels opportunities for key players in the ingredients sector

• The per capita consumption of plant protein increased from 135.3 grams in 2016 to 147.67 grams in 2021 within the North American region, supported by both investment and innovation. This increase was mainly due to the rise in the rate of consumers turning vegan or vegetarian in a bid to ensure animal welfare. For instance, the number of Americans following plant-based diets has increased by roughly 9.6 million people, accounting for nearly 3% of the population in the United States. After the COVID-19 pandemic, plant protein consumption skyrocketed for various reasons, including the fear of processing contamination by the virus in animal-sourced proteins and the hike in consumption of protein combinations, including animal and plant proteins or a combination of distinct plant proteins.
• Dalhousie University Agri-Food Analytics Lab states that flexitarian is the second-largest dietary group in Canada. The percentage of consumers becoming flexitarian or vegan offers manufacturers enough opportunities to introduce and innovate more in the plant protein segment. In 2021, the Canadian government announced an investment of more than USD 4.3 million to support Canada’s pulse and special crop farmers to meet the growing consumer demand for sustainable, high-quality plant-based protein.
• The rising vegan population mainly drives the market. The per capita consumption of pea protein is the highest, owing to its wide application in distinct food products like meat, poultry, and bakery. Pea protein consumption is mainly observed through sports nutrition and meal replacement applications, at levels ranging from 5 to 15 grams per serving at one or two servings per day, with a maximum of 30 grams per person per day.

Soy, wheat, and pea production contributes majorly as raw material for plant protein ingredients manufacturers

• In North America, the United States is the key producer of some plant protein types, such as rice, and accounts for almost 100% share of the regional rice production. Forecasts for US rice production in 2022-2023 were lowered by 10.9 million (M) hundredweight (cwt) to 165.1 M cwt owing to the reduced harvested area and lower per acre yield estimates. In 2021, US rice production was 14% below the previous year, 2020, and amounted to the least harvest since 1993-94. The all-rice yield of 7,586 pounds per acre was 41 pounds lower than previous forecast estimates and nearly 2% below the previous year's record yield of 7,709 pounds per acre. In May 2022, the Mexican government announced an effort to combat food price inflation by eliminating import duties on a range of commodities for one year, including paddy rice.
• The United States is also the wheat-producing leader in the region, followed by Canada, with both countries accounting for almost 100% of the regional wheat production. A significant rise of 11.56% in wheat production was observed in the region, primarily in the United States, due to a hike in production in North Dakota by 37% in 2019 compared to 2018. In 2020, with the production of 312,782 thousand bushels, North Dakota reclaimed its position as the leading wheat-producing state in the United States. In 2019, Kansas was the leader, with a production of 348,400 bushels, which reached 281,250 thousand bushels in 2020.
• Soybeans are the third-largest field crop in Canada. Predominantly, soybean has become an important cash crop in cities like Quebec and Manitoba, Maritimes, southeast Saskatchewan, and southern Alberta. Presently, Canada is the producer of 200 registered soybean varieties. Among those registered varieties, 80% of soybeans are herbicide-tolerant.

North America Plant Protein Ingredients Industry Overview

The North America Plant Protein Ingredients Market is moderately consolidated, with the top five companies occupying 55.65%. The major players in this market are Archer Daniels Midland Company, Bunge Limited, CHS Inc., International Flavors & Fragrances, Inc. and Kerry Group PLC (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Table of Contents

1 EXECUTIVE SUMMARY & KEY FINDINGS

2 INTRODUCTION
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study​
2.3 Research Methodology

3 KEY INDUSTRY TRENDS
3.1 End User Market Volume
3.1.1 Baby Food and Infant Formula
3.1.2 Bakery
3.1.3 Beverages
3.1.4 Breakfast Cereals
3.1.5 Condiments/Sauces
3.1.6 Confectionery
3.1.7 Dairy and Dairy Alternative Products
3.1.8 Elderly Nutrition and Medical Nutrition
3.1.9 Meat/Poultry/Seafood and Meat Alternative Products
3.1.10 RTE/RTC Food Products
3.1.11 Snacks
3.1.12 Sport/Performance Nutrition
3.1.13 Animal Feed
3.1.14 Personal Care and Cosmetics
3.2 Protein Consumption Trends
3.2.1 Plant
3.3 Production Trends
3.3.1 Plant
3.4 Regulatory Framework
3.4.1 Canada
3.4.2 United States
3.5 Value Chain & Distribution Channel Analysis

4 MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
4.1 Protein Type
4.1.1 Hemp Protein
4.1.2 Pea Protein
4.1.3 Potato Protein
4.1.4 Rice Protein
4.1.5 Soy Protein
4.1.6 Wheat Protein
4.1.7 Other Plant Protein
4.2 End User
4.2.1 Animal Feed
4.2.2 Food and Beverages
4.2.2.1 By Sub End User
4.2.2.1.1 Bakery
4.2.2.1.2 Beverages
4.2.2.1.3 Breakfast Cereals
4.2.2.1.4 Condiments/Sauces
4.2.2.1.5 Confectionery
4.2.2.1.6 Dairy and Dairy Alternative Products
4.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products
4.2.2.1.8 RTE/RTC Food Products
4.2.2.1.9 Snacks
4.2.3 Personal Care and Cosmetics
4.2.4 Supplements
4.2.4.1 By Sub End User
4.2.4.1.1 Baby Food and Infant Formula
4.2.4.1.2 Elderly Nutrition and Medical Nutrition
4.2.4.1.3 Sport/Performance Nutrition
4.3 Country
4.3.1 Canada
4.3.2 Mexico
4.3.3 United States
4.3.4 Rest of North America

5 COMPETITIVE LANDSCAPE
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Landscape
5.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
5.4.1 Archer Daniels Midland Company
5.4.2 Bunge Limited
5.4.3 Cargill Incorporated
5.4.4 CHS Inc.
5.4.5 Farbest-Tallman Foods Corporation
5.4.6 Glanbia PLC
5.4.7 Ingredion Incorporated
5.4.8 International Flavors & Fragrances, Inc.
5.4.9 Kerry Group PLC
5.4.10 MGP
5.4.11 Roquette Frères
5.4.12 Südzucker Group
5.4.13 The Scoular Company

6 KEY STRATEGIC QUESTIONS FOR PROTEIN INGREDIENTS INDUSTRY CEOS

7 APPENDIX
7.1 Global Overview
7.1.1 Overview
7.1.2 Porter’s Five Forces Framework
7.1.3 Global Value Chain Analysis
7.1.4 Market Dynamics (DROs)
7.2 Sources & References
7.3 List of Tables & Figures
7.4 Primary Insights
7.5 Data Pack
7.6 Glossary of Terms