The global plant-based protein market size is estimated to be valued at USD 12.2 billion in 2022 and is projected to reach USD 17.4 billion by 2027, recording a CAGR of 7.3%, in terms of value during the forecast period. The demand for plant-based protein has been increasing due to the increase in adoption of veganism and flexitarian diets and due to the growing concern regarding environment and unethical practices in meat sourcing.

Key players in this market include ADM (US), Cargill (US), DuPont (US), Wilmar International Ltd (Singapore), Roquette Frères (France), Glanbia plc (Ireland), Kerry Group PLC (Ireland), DSM (Netherlands), Ingredion (US), Emsland Group (Germany) among others.

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