Meticulous Research® has released a report titled “Plant-based Protein Processing Equipment Market,” forecasting that the market will reach $1.68 billion by 2029, growing at a CAGR of 4.2% from 2022 to 2029. The growth is fueled by the increasing demand for productivity, cost reduction efforts by plant-protein manufacturers, and heightened investment in the plant-based protein sector. Additionally, expanding markets in Asia, Latin America, and Africa, coupled with the rise in plant-based food products, offer significant opportunities for industry players.
The market faces challenges, including high equipment costs and a lingering preference for animal-based proteins. The analysis categorizes the market by type, mode of operation, production capacity, application, and geography.
By type, the equipment market includes dryers, centrifuges, filtration systems, mixers, and evaporators. The dryers segment is projected to dominate due to their efficiency and hygiene benefits. However, the filtration systems segment is expected to register the highest growth rate owing to rising awareness of filtration advantages.
In terms of operation, semi-automatic systems currently lead the market but are expected to be surpassed by automatic systems due to increasing demand for precision and reduced labor costs.
Regarding production capacity, small and medium-scale processing equipment holds the largest share, supported by government initiatives and low financing needs, while this segment also has the highest growth potential.
The application of soy protein currently dominates the market due to its availability and consumer acceptance, but pea protein is anticipated to grow rapidly due to trends favoring soy-free options.
Geographically, North America is the leading market, bolstered by significant manufacturers and investment in R&D, while the Asia-Pacific region shows strong growth potential driven by government support and technological advancements.