Brazil Plant Protein Market Size, Share, COVID-19 Impact, Opportunities And Trends By Source (Pea, Rapeseed, Soy, Hempseed, Others), By Form (Protein Concentrates, Protein Isolates, Protein Hydrolysate), By Application (Dietary Supplement, Food and Beverages, Pharmaceuticals, Animal Feed), And By Distribution Channel (Online, Offline) - Forecasts From 2022 To 2027

Brazil’s plant protein market is projected to grow at a CAGR of 8.96%, from US$290.599 million in 2020 to US$529.978 million in 2027.

There is a rising threat of suffering from serious diseases such as diabetes, and obesity due to the consumption of meat such as beef and pork, among others. This is resulting in increased awareness among the younger population and adult population in order to mitigate this threat by leading a healthier lifestyle by consuming more foods with protein from natural sources such as plants, thereby increasing the demand for plant proteins and leading to a surge in market growth. In addition, the welfare of animals is given good importance in Brazil, which is resulting in a significant increase in the number of Brazilian consumers that are reducing their consumption of meat, and meat-based foods and turning their preference towards foods rich in proteins sourced from plant-based alternatives.

Increased inclination towards plant-based products

Additionally, there has been an increase in the younger population going to the gym in order to stay fit and maintain a healthier lifestyle. This increases the daily dietary requirements of the individuals and encourages them to consume supplements such as protein isolates, which replenish the nutrients in the body and help to build the muscles faster. Thus, this factor is contributing to the growth of the market over the forecast period. Furthermore, there are steps and actions being taken by the market players in order to encourage the adoption of plant proteins and strengthen their market position so as to fuel the market’s growth further over the forecast period.

For example, in November 2019, Axiom Foods, one of the leading companies dealing in the provision of top-quality pea protein, rice protein, and other plant protein ingredients, announced that they had entered into a distribution agreement with Univar Solutions Brazil in order to facilitate the distribution of food and beverage products. Under this agreement, Axiom Foods will present plant-based protein ingredients from its product portfolio in the markets of Brazil. In May 2019, NotCo, one of the leading food tech startups, based in Chile, announced that it had entered into a partnership agreement with Grupo Pão de Açúcar (GPA), a Brazilian supermarket operator, in order to offer its range of plant-based products.  NotCo manufactures a chickpea-based vegan mayonnaise called “Not Mayo” and is also involved in developing other plant-based alternatives such as Not Milk and Not Ice cream.

Pea-based plant protein is anticipated to witness notable growth in the forecast period.

By source, the plant-based protein market has been segmented into pea, rapeseed, soy, hempseed, and others. Pea-based plant protein is expected to hold a significant market share over the forecast period, which is attributable to the fact that the demand and consumption of pea products are increasing in Brazil due to the health benefits it is able to provide. Additionally, the increasing efforts of the major players in order to encourage the consumption of protein sourced from plant-based sources are also contributing to the market share of pea protein.

Products offered in the market

• Axiom Food's Oryzatein® is a premium, proprietary rice plant protein. Oryzatein is produced in cutting-edge facilities with a capacity that may quadruple annually and is derived from exclusive crops grown throughout Asia, with the exception of China. Oryzatein is a plant-based protein source that is low in carbohydrates and rich in nutrients, including phosphorus, magnesium, and iron. Oryzatein, which has been scientifically proven to be just as effective as whey at enhancing muscle growth, strength, and recovery, also mixes well with VegoteinTMPea Protein, which has a complementary amino acid profile, to produce a 1.0 PDCAAS. It is available in three forms: Original, Ultra, and Silk.
• ADM Foods' Nutrifllex plant protein series comprises three degrees of protein solutions to meet the needs of clients. These versatile products can be used in various applications such as snacks, beverages, nutrition products, bars, meat, and dairy alternatives, among many others.
• Dupoint's SUPRO® Soy Protein offers the ideal ratio of essential amino acids for the upkeep and development of muscles throughout exercise regimens. It has been demonstrated that SUPRO® Soy Protein lowers LDL cholesterol, total cholesterol, and triglycerides without reducing HDL cholesterol, which protects the heart.

Key Developments in the Market

• In April 2021, JBS, a Brazil-based leading meat and protein producer, announced the acquisition of Dutch-based plant protein manufacturer, Vivera for €341 million. This acquisition was a part of JBS's growth strategy to grow in the plant-based category. The Vivera is anticipated to join the latter's plant-based Seara Incrivel line. According to the firm, the acquisition and addition strengthened and improved its position in the rapidly growing alternative protein industry.

COVID-19 Insights

COVID-19 had a significant impact on the Brazil plant proteins market. The increased consumption of a high-protein diet amid the pandemic to boost immunity increased the consumption of plant-based proteins too. The gap in the supply and demand chain of meat further surged the market growth. Nonetheless, the mandated lockdown and border restrictions had a significant impact on the overall market development.

Segmentation

• By Source
  • Pea
  • Rapeseed
  • Soy
  • Hempseed
  • Others
• By Form
  • Protein Concentrates
  • Protein Isolates
  • Protein Hydrolysate
• By Application
  • Dietary Supplement
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
• By Distribution Channel
  • Online
  • Offline

DuPont

Cargill, Incorporated

ADM

Ingredion Incorporated

Kerry Group

Axiom Foods