Pune, India, Feb. 14, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, worldwide plant-based protein supplements market was worth USD 5.35 billion in 2020 and is projected to reach USD 9.5 billion by the end of the forecast period 2021-2027, registering 8.6% CAGR through 2027. Escalating demand for healthy plant-based products is primarily driving the market growth.
To help readers attain a truly global perspective, the geographical analysis section clearly defines the size and scope of each regional market at country-level. Moreover, the document incorporates in-depth studies on other sub-markets. Proceeding further, it sheds light on the major players in terms of the product portfolio, financials, and strategies to help stakeholders in developing winning strategies for the coming years.
Notably, plant-based protein supplements are pure vegan products which are derived from nutrition-rich plant sources like brown rice, soy, and pea. People are becoming more inclined towards such plant-based products due to concerns about animal cruelty. Further, growing accessibility of vegan food products across big brands like Subway, Denny's, and Baskin-Robbins are positively impacting consumer perception towards vegan supplements.
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Experts cite that rising trend of reducing meat consumption, increasing prevalence of food allergies, along with government laws towards curbing animal cruelty and promoting eco-friendly products are enhancing the industry outlook.
On the contrary, price volatility due to lack of an adequate supply and product management chain will likely hinder progress in the forthcoming years.
Geographical scope summary
North America plant-based protein supplements industry currently captures majority of the overall share and will likely garner strong gains throughout 2021-2027. This can be credited to the rapidly increasing health-conscious population and subsequent surge in uptake of nutrition-rich products.
Meanwhile, Asia Pacific market is set to record an exponential growth over the analysis period, on account of factors such as growing emphasis on ending animal cruelty, ethical & religious values pertaining to meat consumption, and presence of a large vegan customer base.
Competitive landscape overview
Abbott Laboratories, MusclePharm Corp., The Bountiful Company, NOW Foods, Quest Nutrition LLC, AMCO Proteins, and Glanbia plc are among the major contenders in global plant-based protein supplements business sphere. These players are actively engaging in R&D investments and product innovations to attract consumers and improve their position in the market.
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Global Plant-Based Protein Supplements Market, by Raw Material (Revenue, USD Billion, 2019-2027)
- Spirulina
- Soy
- Pumpkin Seed
- Rice
- Hemp
- Pea
- Others
Global Plant-Based Protein Supplements Market, by Product Type (Revenue, USD Billion, 2018-2027)
- Protein Bars
- Protein Powder
- Ready-to-Drink
- Others
Global Plant-Based Protein Supplements Market, by Distribution Channel (Revenue, USD Billion, 2019-2027)
- Online Stores
- Supermarkets/Hypermarkets
- Chemist/Drugstores
- Specialty Stores
- Others
Global Plant-Based Protein Supplements Market, by Application (Revenue, USD Billion, 2019-2027)
- Functional Food
- Sports Nutrition
Global Plant-Based Protein Supplements Market, by Geography (Revenue, USD Billion, 2019-2027)
North America
- United States
- Canada
Europe
- Germany
- Spain
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- India
- Japan
- China
- South Korea
- Australia
- Rest of America
Latin America
- Mexico
- Brazil
Rest of the World
Global Plant-Based Protein Supplements Market Company Profiles (Revenue, USD Billion, 2019-2027)
- Woodbolt Distribution LLC
- Transparent Labs
- Iovate Health Sciences International Inc.
- Abbott Laboratories
- MusclePharm Corp.
- The Bountiful Company
- NOW Foods
- Quest Nutrition LLC
- AMCO Proteins
- Glanbia plc
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Global Plant-Based Protein Supplements Market, by Region, 2019-2027 (USD Billion)
1.2.2. Global Plant-Based Protein Supplements Market, by Raw Material, 2019-2027 (USD Billion)
1.2.3. Global Plant-Based Protein Supplements Market, by Product, 2019-2027 (USD Billion)
1.2.4. Global Plant-Based Protein Supplements Market, by Distribution Channel, 2019-2027 (USD Billion)
1.2.5. Global Plant-Based Protein Supplements Market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Plant-Based Protein Supplements Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Plant-Based Protein Supplements Market Dynamics
3.1. Plant-Based Protein Supplements Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Rising demand for nutritional rich and healthy plant-based products
3.1.1.2. Minimizing meat consumption coupled with rising food allergies
3.1.2. Market Challenges
3.1.2.1. Fluctuating prices due to lack of supply and production management
3.1.3. Market Opportunities
3.1.3.1. Rising stringent government laws towards animal cruelty & environment friendly products
Chapter 4. Global Plant-Based Protein Supplements Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Plant-Based Protein Supplements Market, by Raw material
6.1. Market Snapshot
6.2. Global Plant-Based Protein Supplements Market by Raw material, Performance - Potential Analysis
6.3. Global Plant-Based Protein Supplements Market Estimates & Forecasts by Raw material, 2018-2027 (USD Billion)
6.4. Plant-Based Protein Supplements Market, Sub Segment Analysis
6.4.1. Soy
6.4.2. Spirulina
6.4.3. Pumpkin Seed
6.4.4. Hemp
6.4.5. Rice
6.4.6. Pea
6.4.7. Others
Chapter 7. Global Plant-Based Protein Supplements Market, by Product
7.1. Market Snapshot
7.2. Global Plant-Based Protein Supplements Market by Product, Performance - Potential Analysis
7.3. Global Plant-Based Protein Supplements Market Estimates & Forecasts by Product, 2018-2027 (USD Billion)
7.4. Plant-Based Protein Supplements Market, Sub Segment Analysis
7.4.1. Protein Powder
7.4.2. Protein Bars
7.4.3. Ready-to-Drink
7.4.4. Others
Chapter 8. Global Plant-Based Protein Supplements Market, by Distribution Channel
8.1. Market Snapshot
8.2. Global Plant-Based Protein Supplements Market by Distribution Channel, Performance - Potential Analysis
8.3. Global Plant-Based Protein Supplements Market Estimates & Forecasts by Distribution Channel, 2018-2027 (USD Billion)
8.4. Plant-Based Protein Supplements Market, Sub Segment Analysis
8.4.1. Supermarkets/Hypermarkets
8.4.2. Online Stores
8.4.3. Chemist/Drugstores
8.4.4. Specialty Stores
8.4.5. Others
Chapter 9. Global Plant-Based Protein Supplements Market, by Application
9.1. Market Snapshot
9.2. Global Plant-Based Protein Supplements Market by Application, Performance - Potential Analysis
9.3. Global Plant-Based Protein Supplements Market Estimates & Forecasts by Application, 2018-2027 (USD Billion)
9.4. Plant-Based Protein Supplements Market, Sub Segment Analysis
9.4.1. Sports Nutrition
9.4.2. Functional Food
Chapter 10. Global Plant-Based Protein Supplements Market, Regional Analysis
Related Report:
Ingredients Market, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market 2021- 2027
The ingredients market for plant based food & beverages is projected to exhibit exponential growth by 2027 owing to soaring demand for functional food across the globe. A plant based diet has been shown to provide a wide range of health benefits, including diabetes prevention, lower risk of cardiovascular diseases, and better weight management. Rapid shift in consumer preference towards a vegan lifestyle has augmented industry adoption in recent years. On the regional front, the Latin America ingredients market for plant based food & beverages is likely to achieve an estimation worth USD 260 million by 2027 owing to high demand and production of functional food & beverage products. The Middle East and Africa eubiotics market is set to grow at above 19.5% CAGR over the forecast timeline due to mounting prevalence of lactose intolerance and emerging vegan trend across MEA.
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