Plant-based Protein Products Market Size for Infants is set to grow by USD 611.18 million from 2024-2028, Rise in number of working women to boost the market growth, Technavio

NEW YORK, June 14, 2024 /PRNewswire/ -- The global plant-based protein products market size for infants is estimated to grow by USD 611.18 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.66% during the forecast period. Rise in number of working women is driving market growth, with a trend towards growing popularity of organic baby food products. However, declining birth rate poses a challenge. Key market players include Abbott Laboratories, Archer Daniels Midland Co., Batory Foods, Cargill Inc., COSUCRA, DuPont de Nemours Inc., Emsland Starke GmbH, Glanbia plc, Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Nestle SA, Plantible Foods Inc., Puris, Roquette Freres SA, Royal Avebe, Sofina SA, The Hain Celestial Group Inc., The Scoular Co., and Wilmar International Ltd..

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Key Market Trends Fueling Growth

Organic baby food products, free from chemicals, pesticides, preservatives, hormones, and antibiotics, are gaining popularity among parents due to health concerns. The manufacturing of these products adheres to strict regulations, using organic cereals grown without chemical fertilizers and livestock fed organic feed. This trend towards organic baby food will significantly contribute to the growth of the global plant-based protein products market for infants. 

The plant-based protein market for infant products is experiencing significant growth. Companies are concentrating on producing textured and palatable plant-based protein sources, such as soy, pea, and rice proteins. These products are gaining popularity due to their dietary benefits and ethical considerations. Consumers are looking for alternatives to animal-derived milk formulas, and plant-based options meet this demand. The use of chickpeas, lentils, and beans in infant formulas is also increasing.

Additionally, the preference for convenient and easy-to-prepare plant-based products is driving innovation in the market. The trend towards sustainable and eco-friendly practices is also influencing the development of plant-based protein products for infants. 

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Market Challenges

• The global plant-based protein products market for infants faces hindrance due to declining birth rates in developed nations. This trend is observed in countries like the US, Canada, Germany, Italy, Spain, Belgium, and Sweden. The rise in live-in relationships and high child-rearing costs are major reasons for the decrease in birth rates. Consequently, this demographic shift is expected to negatively impact the market growth during the forecast period.
• The plant-based protein market for infant products faces several challenges. Nutrients like essential amino acids and iron are crucial for infant growth. Balanced diets are necessary to ensure proper development. However, plant-based sources like soy, pea, and rice may lack certain essential amino acids. To address this, companies use fortification or blend different plant sources.
• Another challenge is texture and acceptance. Infants have unique nutritional needs and texture preferences. Creating palatable and nutritious plant-based protein products for infants is a complex task. Additionally, consumer education and awareness about the benefits of plant-based protein sources for infants is essential.
• Sustainability and ethical considerations also play a role in the market. Overall, the plant-based protein market for infants requires innovative solutions to meet the nutritional needs while addressing taste, texture, and consumer awareness.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Soy-based protein products
• 2.2 Other plant-based protein products
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline- The offline distribution channel for plant-based protein products for infants comprises hypermarkets, supermarkets, and grocery and convenience stores. Organized retailing, specifically hypermarkets and supermarkets, simplifies purchasing for consumers with a diverse product range. Global expansion of these retailers enhances vendor product visibility and demand.

Consumers can select products based on price and quality, with convenience stores being region-specific and popular due to proximity. The ease of product availability and accessible outlets contribute to the growth of this offline segment during the forecast period.

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Research Analysis

The plant-based protein market for infant products is experiencing significant growth due to shifting consumer preferences and attitudes towards health, sustainability, and ethical considerations. Parents are increasingly seeking out plant-based options for their infants, with tofu, legumes, and pea protein being popular choices. These sources of protein are not only free from saturated fat and cholesterol but also rich in fiber and essential nutrients, contributing to a balanced diet.

Environmental sustainability is another key factor driving the demand for plant-based protein products. Animal agriculture is a significant contributor to greenhouse gas emissions, depletion of natural resources, and ecological footprint. As consumers become more eco-conscious, they are opting for plant-based alternatives that align with their values.

Additionally, ethical considerations, such as animal welfare and ethical treatment, are becoming increasingly important to consumers. Plant-based protein sources offer a solution that does not involve the exploitation of animals, making them an attractive option for parents looking to make ethical choices for their infants.

Food technology is also playing a role in the growth of the plant-based protein market for infants, with innovations in processing and formulation making these products more accessible and appealing to consumers. Overall, the market for plant-based protein products for infants is expected to continue growing as consumers prioritize health, sustainability, and ethical considerations in their purchasing decisions.

Market Research Overview

The plant-based protein market for infant products is witnessing significant growth due to increasing consumer awareness and preference for sustainable and ethical food options. These products cater to the nutritional needs of infants, providing essential amino acids and minerals.

Plant-based sources such as soy, pea, rice, and hemp are commonly used to produce these proteins. Legumes, nuts, and seeds are also utilized to create textured and palatable infant formulas. The market is driven by factors such as rising demand for lactose-free alternatives, ethical and environmental concerns, and the convenience of plant-based options.

Consumers are increasingly seeking out brands that offer organic, non-GMO, and allergen-free options, further fueling market growth. The future of plant-based protein products for infants looks promising, with continued innovation and product development expected to meet the evolving needs of consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Soy-based Protein Products
• Other Plant-based Protein Products
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio