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. Based on region, North America is projected to be the largest market for plant-based protein industry during the forecast period. This growth of the plant-based protein industry in the region is supported by increase in awareness regarding personal and environmental health concerns from consumers. Another contributing factor for the growth of plant-based protein market in North America is the presence of a significant number of key players of the industry such as ADM (US), Cargill (US) among others, who are constantly looking to consolidate their market position by engaging in various strategic initiatives such as new product launches and product innovation. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=14715651 Based on application, the food segment is expected to retain its position as the dominant and the fastest-growing segment during the forecast period. The plant-based proteins witness growing demand from the food industry as they find a large number of applications across various food products such as cereals, snacks, bakery products, plant-based foods etc. which enhance their nutritional content. By form, the dry segment is expected to account for the largest market share during the forecast period. The primary reasons supporting the growth of this segment are that the dry form of processing is much more energy efficient and sustainable, compared to liquid processing and the protein ingredients, manufactured from dry processing, also cater to a large number of food applications such as cereals, baked foods and plant-based meat products. Based on type, the concentrates segment is projected to account for the largest market share in the plant-based protein market. Some of the reasons boosting the growth of this category are the increasing demand for sustainable, cost-effective plant-based protein solutions that cater to a large number of food applications such as bakery products, convenience food, meat and dairy alternatives among others.

The medium-chain triglycerides market is projected to reach USD 1034 million by 2026, at a CAGR of 6.3% from 2021 to 2026. With the rise in demand and preference for organic food products, medium-chain triglyceride manufacturers have been strategizing on developing innovative products at a reasonable price. The surge in global Internet penetration would be another influential trend in driving the market in terms of sales. Manufacturers and distributors are using the Internet to spread awareness about their products and services among target consumers and simultaneously generate sales. Medium-chain triglycerides are used in various end-user industries, such as nutritional supplements, infant formula, cosmetics & personal care, and pharmaceuticals. The caprylic acid segment dominated the market with a share of 50.4% in 2020, in terms of value as Caprylic acid does not have an offensive taste or smell. Thus, it is often the primary MCT used in MCT oil. Caprylic triglyceride is a compound that comes from combining fatty acids with glycerin. The fatty acids in the compound are medium-chain triglycerides (MCTs). Caprylic acid is also known for its antiviral, antibacterial and antifungal properties, and can help treat skin disorders and acne. It’s also useful for treating urinary tract infections, bladder infections, STIs, and even gingivitis. It also helps to burn excess calories, which in turn leads to weight loss. The liver finds it easy to break down, or oxidize, MCFAs such as caprylic acid. This faster rate of oxidation leads to a higher rate of energy expenditure. Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=248063458 The nutritional supplements segment accounted for the major share of 25.9% in 2020, with a total value of USD 186.5 million. Medium-chain triglycerides aid in weight loss by reducing calorie intake and fat storage and increasing fullness, calorie burning, and ketone levels on low-carb diets. China accounted for about 31.1% of the medium-chain triglycerides market in the Asia Pacific region in 2020, in terms of value, making it one of the most robustly growing markets in the region. The demand for medium-chain triglycerides is increasing in China due to changing lifestyles of consumers and preferences. The increasing purchasing power of consumers due to the economic development in China has led to the increase in demand for high-quality processed foods, nutritional diet, personal care, and cosmetics products. Hence, the market for medium-chain triglycerides is projected to increase as it is an essential additive in nutritional supplements, infant formula, sports drinks, pharmaceuticals, personal care, and other applications. The country has witnessed an increase in the number of chronic disease incidences, thereby propelling the market for functional food ingredients. According to the WHO, in 2019, the prevalence of diabetes, heart diseases, and cancer, in the country rose nine-fold within a single generation and faster than the global average rate. Key players in this market include BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Dupont(US), Lonza Group Ltd(Switzerland), Musim Mas Holdings(Singapore), Croda International Plc(UK), P&G Chemicals (US), Acme-Hardesty Company(Bluebell, PA), Wilmar International Limited( Singapore), Stepan Company (US), Sternchemie GmbH & Co. KG(Germany), Emery Oleochemicals Group(US), KLK Oleo(Malaysia), Nutricia(New Zealand), Connoils (US), Now foods(US), Barleans (Washington), Jarrow formula’s(US), Nutiva(US), Henry Lamotte Oils GmbH (Germany).