The global market for plant-based protein will see a staggering growth in value, which is predicted to reach $16.3 billion by the end of 2025, according to a new report.
Conducted by research firm Persistence Market Research, the comprehensive study identifies the population's shift toward plants-based proteins instead of animal-based proteins as the main growth factor.
The vegan protein market has been projected to grow at a compound annual growth rate [CAGR] of 5.7 percent throughout 2017-2025, say researchers.
The report has evaluated segments including soy, wheat, and peas, as well as beverages, protein & nutritional bars, bakery & snacks.
Among these segments, soy products are expected to profit the market the most, seeing a huge surge in demand.