Global Plant Based Protein Market Expected To Reach $40 Billion by 2027

PALM BEACH, Fla., June 14, 2022 /PRNewswire/ — FinancialNewsMedia.com News Commentary  – The pandemic has considerably transformed consumer buying patterns, with a steady shift being witnessed toward health-improving products. People are buying supplements owing to their healthier & safer properties as compared to their animal-based counterparts. Growing awareness about the benefits of daily consumption of concentrated nutrients has significantly increased dietary supplements’ demand. Urbanization and hectic lifestyles have augmented the prevalence of lifestyle-related health conditions. According to Market Data Forecast, the global plant based protein market is expected to grow from USD $18.49 billion in 2021 to reach a value of USD $40.58 billion by 2027.  In a Fortune Business Insights report it was said: “The growing popularity of veganism primarily drives this market. Plant-based products are perceived to be healthier and safer as compared to animal-based products. Rising concerns regarding animal welfare have significantly contributed to the growth of the plant protein supplements industry. The increasing interest in food safety and better-for-you products is expected to fuel market growth. The leading manufacturers are focused on investing in research of innovative protein sources, which will further propel the growth of the market.  The rising demand for protein supplements to improve health and wellness significantly fuel the growth of the vegan protein supplements market. Modern-day hectic lifestyles and busy schedules have surged the demand for instant sources of proteins. Protein powder supplements are also becoming very popular among fitness enthusiasts for muscle development due to their higher amino acid content. Aggressive marketing and promotional activities by companies across fitness centers and the introduction of several ready-to-drink protein supplements are expected to expand the sale of plant protein supplements in the upcoming years. These supplements are also widely popular among vegan-diet followers, which is expected to further drive market growth.”   Active companies in the markets this week include: Pressure BioSciences, Inc. (OTCQB: PBIO), The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER), Amyris, Inc. (NASDAQ: AMRS), Oatly Group AB (NASDAQ: OTLY), Beyond Meat, Inc. (NASDAQ: BYND).

Fortune Business Insights continued: “… the pea protein segment (particularly concentrates & isolates) is expected to surpass the soy protein segment both by value and volume-based sales due to its robust popularity and increasing utilization in various dietary supplements. The market has recently witnessed companies exploiting novel sources for plant protein such as spirulina, pumpkin seeds, and hemp. Such industry trends are predicted to boost revenue further. The developed markets of North America and Europe contribute more than half of the global revenue in this market and are thus leading the plant based protein supplements market share.”

Pressure BioSciences, Inc. (OTCQB: PBIO) BREAKING NEWS: Pressure BioSciences’ Ultra Shear Technology™ Positioned for Critical Enabling Role in Global $41 Billion (2027) Plant Protein Beverage Market – Pressure BioSciences, a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and process development services to the worldwide food and beverage, biotherapeutics, and personal wellness industries, among others, today announced a pivotal peer-reviewed scientific publication highlighting the use of PBI’s patented Ultra Shear Technology™ (“UST™”) platform in the production of protein-enriched milk containing a novel emulsified plant-protein suspension.  J.J. Janahar, et al., from The Ohio State University (“Ohio State”) College of Food, Agricultural, and Environmental Sciences (“CFAES”) in a study published in the high impact journal Food Hydrocolloids, Volume 131, reported that UST successfully created stable suspensions of milk-pea protein blends in microscopic particle sizes – the objective required for commercially-suitable products, and a significant achievement that could not be reached through existing high-pressure processing (HPP) or thermal processing techniques alone.

Efforts to produce satisfying, nutritionally-efficient and sustainable food options are driving one of the fastest growing food and beverage markets worldwide.  Creating cost-effective and sustainable food alternatives that appeal to the expectations and preferences of global consumers has pushed researchers to examine many alternative protein enrichment sources, including the use of almonds, oats, soy, coconuts, peas, etc.  Unfortunately, many of these protein sources lack the creaminess, texture, sweetness, or other attributes that drive consumer acceptance. The blending of plant and dairy components to achieve the desired consumer appeal presents enormous market opportunities.  Pea protein is of particular interest because of its high nutritional value and low cost – but it is highly insoluble in water and thus has been minimally used in protein drinks to date.  PBI’s proprietary UST platform combines very high pressure and precisely controlled extreme shear forces to provide food scientists the toolset needed to successfully blend dairy and pea protein (two products which naturally resist mixing) into a sensory-appealing, nutritional, and long-term stable plant protein-based beverage. 

PBI and Ohio State are co-leading a Food Industry Consortium whose mission is to introduce worldwide food and beverage companies to PBI’s UST platform for the production of higher quality, longer shelf-life, and safer liquid foods and beverages.  PBI’s UST platform is the critical tool that enables and achieves targeted reductions and dependency on chemical additives or damaging heat relied upon in current processing methods. UST is pivotal in enabling the production of natural, organic, healthier, more nutritious, “clean-label” products that offer greater appeal to modern consumers. 

Mr. John B. Hollister, Director of Marketing and Sales expanded: “Ohio State and PBI have initiated an aggressive outreach program to a number of preeminent food & beverage companies globally and expect to welcome many Consortium members during the second half of 2022. Members will help direct and focus Ohio State and PBI efforts across a diverse universe of prospective liquid food and beverage products, with emphasis on microbiology, stability, nutrition, sensory qualities, and increased bioavailability. UST applications development will also extend into nutraceutical products, such as infused water, functional sports beverages, and other health-focused products of high interest to consumers and producers.” (North Equities Video Interview – Hollister).

Mr. Hollister continued: “With the recent publication of the Ohio State data, an additional and very exciting application of interest is plant protein-based beverages. As new and commercially-relevant UST applications continue to be demonstrated, and Consortium members utilize their first rights to license UST for their own use, Ohio State and PBI will both benefit from resulting royalty streams. PBI will also benefit from equipment leases and consumables sales.”

Dr. Edmund Y. Ting, Senior VP of Engineering at PBI, and a pioneer in the development of high pressure-based food technologies, commented: “Many beverage ingredients that are beneficial to convenience, health, and desired sensory characteristics are not soluble in water, e.g., pea proteins.  However, UST’s ability to achieve micro/nano particle size suspensions of such plant proteins offers enticing solutions for the use of these essential, water-insoluble ingredients.  Interestingly, such UST-processed suspensions can be optimized to provide thickening viscosity for certain products, which can result in improved stability, nutritional value, and consumer appeal.  Thus, UST’s ability to formulate complex micro/nano emulsions and suspensions will give manufacturers multiple additional options for health and wellness products. While we have previously demonstrated that UST makes fantastic nanoemulsions, there are even more applications where microemulsions as well as nano/micro suspensions are practical and useful for products and product concentrates.”  

Amyris, Inc. (NASDAQ: AMRS), a leading synthetic biotechnology company accelerating the world’s transition to sustainable consumption through its Lab-to-Market^TM technology platform, recently announced financial results for the first quarter ended March 31, 2022.

“We continued to advance our growth roadmap, delivering 75% core revenue growth and growing consumer revenue by 121% versus the prior year quarter to a new record of $35 million. Technology access revenue grew 33% year-over-year to $23 million in the quarter. We experienced strong demand for our consumer and ingredients products, an estimated $7 million more than we had capacity to deliver, particularly in ingredients due to reliance on third party manufacturing. We began commissioning our strategic fermentation plant in Barra Bonita, Brazilkeeping us on track to start commercial production in the second quarter. This investment is critical to meet demand, reduce our reliance on costly third-party ingredients manufacturing and the delivery of substantial margin improvement starting this year,” said John Melo, President and Chief Executive Officer.

Oatly Group AB (NASDAQ: OTLY), the world’s original and largest oat drink company, recently announced financial results for the first quarter ended March 31, 2022.

Toni Petersson, Oatly’s CEO, commented, “Given the challenging operating environment, we are pleased with our first quarter revenue results which exceeded our expectations. In March, we saw significant improvements in EMEA and Americas, with record revenue in EMEA and the largest production month ever for the Americas as the manufacturing challenges we experienced at the start of the year due to Omicron began to abate. In Asia, our business was impacted by zero-COVID policy restrictions and subsequent lockdowns, yet what remains consistent in 2022 is the global demand across sales channels and geographies for our products as we add production capacity to drive consumer conversion from dairy to plant-based products. Near-term margins and profitability have been impacted by the additional costs associated with scaling of our new facilities, and the inflationary environment, however, we continue to believe that we can achieve much better economies of scale and greater operating efficiencies through our more localized self-manufacturing, which will help us increase our growth while reducing our environmental impact and achieve profitability over the next several years.”

The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company and the Clean Beverage^® company, recently announced that they will now be selling their Alkaline88^® products in Army & Air Force Exchange Service (the “Exchange” or “AAFES”) locations around the world.

“Alkaline88® is proud to offer our Deliciously Smooth™ water to our military through the Army & Air Force Exchange Service,” said Frank Lazaran, President and CEO of The Alkaline Water Company. “Through The Exchange, millions of members of the armed forces and their families will be able to able to purchase Alkaline88 on bases around the world. We’ve been working for a long time to make this happen. Thanks to the hard work of our sales team and our advisory board member, Shaquille O’Neal, we finally made it happen. Shaq grew up an army kid and was very clear since the beginning of our partnership that he wanted our water in the Exchange. His support in securing the AAFES account is a testament to what an amazing business partner he is for this company.”

Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, recently reported financial results for its first quarter ended April 2, 2022.

First Quarter 2022 Financial Highlights Were: Net revenues were $109.5 million, an increase of 1.2% year-over-year; Gross profit was $0.2 million, or gross margin of 0.2% of net revenues; Net loss was $100.5 million, or $1.58 per common share. Net loss as a percentage of net revenues was -91.8%; and Adjusted EBITDA was a loss of $78.9 million, or -72.1% of net revenues.

Beyond Meat President and CEO Ethan Brown commented, “In the first quarter, we made good progress against our goal of building tomorrow’s global protein company. Whether furthering strategic partnerships in the restaurant industry, the market success of our first product collaboration with PepsiCo, or the continued acclaim awarded to our products here in the U.S. and EU, we continue to lay a robust foundation for our long-term growth.”

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Article Credits: CISION