Plant Based Protein Supplements Market

Plant Based Protein Supplements Market is valued at USD 5.68 Billion in 2021 and expected to reach USD 8.94 Billion by 2028 with the CAGR of 6.7% over the forecast period.  

Global Plant Based Protein Supplements Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028- The growing awareness and rising demand for plant-based proteins, increasing number of product offerings and growing investment by key players are some of the major factors driving the growth of the Global Plant Based Protein Supplements Market. 

Scope of Global Plant Based Protein Supplements Market Report- 

Plant-based proteins are non-GMO vegetable proteins and are an ideal source of post-exercise nutrition for athletes over other types of proteins, as they can help build muscle when combined with resistance training. Plant-based protein powder is considered to be nutritious for human health. Moreover, one tablespoon of a plant-based protein supplement can provide adequate nutrition and maintain the human body's energy levels throughout the day. Athletes are increasingly using plant-based protein supplements as a sports supplement, as it helps them gain stamina and strength. Furthermore, plant-based proteins were started by Bob Hoffman in 1952 to sell his own 'high-protein' soy protein powder. Plant-based protein supplements are proteins necessary for the growth and repair of human body cells and tissues. In addition to providing building blocks for healthy muscles and tissues, plant proteins are also beneficial for weight loss. Plant-based proteins are lower in calories and fats than animal proteins but are higher in fiber and essential nutrients that contribute to their increased preference. 

The outbreak of Covid-19 has put tremendous pressure on the efficient food as well as the nutraceutical industry. Many frontline workers, such as doctors, nurses, other medical professionals, cleaners or cleaners, and others, are fighting hard to stop the spread of the coronavirus. Government agencies have advised citizens to adhere to a healthy and nutritious diet to combat the disease. This has led to supplement the demand for plant-based protein supplements that promote optimal function by providing the body with good health and essential nutrients. However, the disturbance in the supply chain network during th pandemic has affected the market growth. 

The global plant-based protein supplement market is segmented into application, product type, form, distribution channel, nature, and region & country level. Based on application, the plant-based protein supplement market is segmented into sports nutrition, and supplement nutrition. Based on product type, the market is segmented into soy, spirulina, pumpkin seeds, pea, and others. Based on form, the plant-based protein supplement market is segmented into protein powder, protein bar, and RTD liquids. Based on the distribution channel, the market is segmented into hypermarket/supermarket, specialty store, and online Store. Based on nature, the plant-based protein supplement market is segmented into conventional, and organic. 

The regions covered in this global plant-based protein supplement market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on country level, market of global plant-based protein supplement is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, Southeast Asia, GCC, Africa, etc.  

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 5.68 Billion
Base year considered	2021
Forecast Period CAGR %:	6.7%
Market Size Expected in 2028:	USD 8.94 Billion
Tables, Charts & Figures:	175
Pages	200
Plant Based Protein Supplements Companies	Archon Vitamin LLC., Sequel Natural Ltd., Glanbia plc, MusclePharm Corporation, True Nutrition, General Nutrition Centers, Inc., Nutiva Inc., NOW Health Group, Inc., Vital Amine, Inc., Hormel Foods Corporation, and others.
Segments Covered	By Application, By Product Type, By Form, By Distribution Channel, By Nature
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Key Players for Global Plant Based Protein Supplements Market Report-  

Key players profile covered in the report include Archon Vitamin LLC., Sequel Natural Ltd., Glanbia plc, MusclePharm Corporation, True Nutrition, General Nutrition Centers, Inc., Nutiva Inc., NOW Health Group, Inc., Vital Amine, Inc., Hormel Foods Corporation, and others. 

News-  

Protein Powder's Growing Popularity: Nutraceutical Brand Pro360 Leads the Race 

On November 24th, 2021; GMN Group of Companies' first-ever nutraceutical brand, Pro360, recently developed a range of collagen protein supplements - Pro360 Vegan Collagen and Pro360 Marine Collagen - to support the body's own collagen production. The Pro360 Vegan Collagen range is specially formulated for vegetarian lovers and is developed using plant-based collagen peptides in a natural and pure form that is easily recognizable by the body. Pro360 Marine Collagen, on the other hand, is a superhero of fortified collagen from fish that helps maintain the strength and elasticity of skin, ligaments, joints, bones, muscles, tendons, blood vessels, gums, eyes, and nails. Collagens are the most abundant proteins in the human body. Additionally, The GMN Group brings over 30 different products that cater to the needs of most of the health conditions preferred by Indian consumers. Pro360 focuses on daily nutrition and needs from pregnancy to older clients. 

Hormel Foods Partnered with The Better Meat Company. 

June 10th, 2021; Hormel Foods Corporation, a global branded food company, partnered with The Better Meat Company to launch its venture company, 199 Ventures, new mycoprotein and plant-based protein products. 199 Ventures was founded in 2019 by Hormel Foods as the company's food forward incubator, which includes investments in companies that align with Hormel Foods' growth strategies. 

Global Plant Based Protein Supplements Market Dynamics- 

Growing awareness about the benefits of daily consumption of concentrated nutrients has significantly increased dietary supplement' demand. Urbanization and hectic lifestyles have augmented the prevalence of lifestyle-related health conditions. According to the Brandessence Research Report, about 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades. The rising cases of diabetes, and cardiovascular diseases is projected to drive the demand for a variety of dietary supplements.  

Due to the growing demand for plant-based proteins in the market, market players are making various moves in the market for the development of their companies. This has led to a huge increase in the plant-based protein market. In the Plant Protein Value Chain space, plant protein component manufacturers have received investments or funding from many high-profile individuals, financial investors, and companies over the years. Some of these developments are as follows. In May 2020, Danone announced the commercial availability of their Vega One plant-based protein products in China, including the Vega One Sport designed for sports enthusiasts. This product contains a mixture of proteins derived from a variety of sources, including pumpkin seeds, alfalfa, sunflower, and peas. In May 2019, Burcon NutraScience Corporation partnered with a group of investors to build a new C $65 million pea-protein and canola-protein commercial production facility in Western Canada. The plant will distribute Burcon's Pezak and Pezaz pea proteins and nutrition, purine, and supporting canola proteins. In January 2019, ADM expanded its presence in Campo Grande, Mato Grosso do Sul, Brazil with the construction of a new soy protein production complex worth USD 250 million. It was announced that the complex would create a range of functional proteins.  

However, affordable local products like ayurvedic supplements in the market may hinder the overall growth of the market. In spite of that, rising lactose intolerance and increasing demand for soy, rice, and almond proteins may offer more opportunities for the further growth of the market. 

Global Plant Based Protein Supplements Market Regional Analysis- 

Due to the high demand for sports nutrition supplements in countries like Canada and the U.S., North America was the largest regional market in 2020, accounted for more than 50% share of the market. In June 2020, the federal government of Canada proposed to invest about USD 74 million in Merit Functional Foods, a Canadian company that produces plant-based proteins. The initiative was aimed at meeting the growing demand for plant-based protein supplements during the outbreak of the Covid-19 pandemic, thus increasing access to plant-based protein supplements in the country. 

Europe emerged as the second significant regional market in 2020 due to various factors such as increasing emphasis on healthy living, increasing trend of preventive health care, and growing demand for vegetarian protein supplements in this region. 

Consumption of dietary supplements has increased in developing countries of Asia Pacific as consumers become more health conscious. In countries like India, China, and Indonesia, there has been an explosion in the use of dietary supplements, which has benefited the market growth over the forecast period. As consumer purchasing power grows and various brands become more accessible in these countries, plant-based supplements are expected to gain significant popularity. In addition, the growing internet sales of supplements also contribute to the growth of the market in the Asia Pacific region. 

Global Plant Based Protein Supplements Market Segmentation:

By Application

• Sports Nutrition 
• Supplement Nutrition 

By Product Type 

• Soy 
• Spirulina
• Pumpkin Seeds 
• Pea 
• Others  

By Form

• Protein Powder
• Protein Bar 
• RTD Liquids  

By Distribution Channel

• Hypermarket/Supermarket 
• Specialty Store
• Online Store  

By Nature 

• Conventional 
• Organic 

Plant Based Protein Supplements Market Key Players

• Archon Vitamin LLC.
• Sequel Natural Ltd.
• Glanbia plc
• MusclePharm Corporation
• True Nutrition
• General Nutrition Centers, Inc.
• Nutiva Inc.
• NOW Health Group, Inc.
• Vital Amine, Inc.
• Hormel Foods Corporation
• Others

On Special Requirement Plant Based Protein Supplements Market Report is also available for below region:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits for Global Plant Based Protein Supplements Market Report– 

• Global plant-based protein supplements market report covers in depth historical and forecast analysis. 
• Global plant-based protein supplements market research report provides detail information about Market Introduction, Market Summary, Global plant-based protein supplements Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level. 

• Global plant-based protein supplements market report helps to identify opportunities in marketplace. 
• Global plant-based protein supplements market report covers extensive analysis of emerging trends and competitive landscape.