Plant-based proteins are non-GMO vegetable proteins, and are an ideal source for post-workout nutrition for athletes over other types of proteins, as they can help build muscles when paired with resistance training. Plant-based protein powder is perceived as nutritionally beneficial for human health.
One spoon of plant-based protein supplement can provide sufficient nutrition and maintain the energy level of the human body for an entire day. Increasing consumption of plant-based protein supplements as a sports supplement by athletes is being witnessed, as it helps them gain stamina and strength.
Manufacturers in the plant-based protein supplements market focus on offering sport supplements and nutraceutical products with plant-based proteins to gain a bigger share in the market.
Find Out More about the Report Coverage
- Axiom Foods
- Glanbia plc
- NOW Health Group Inc.
- MusclePharm Corporation
- Ingredion Inc.
- Roquette Frères
- DuPont Nutrition & Biosciences
Manufacturers to Target Lactose-intolerant Vegetarians
The use of plant-based protein supplements provides lactose-intolerant vegetarians an opportunity to lead a healthy life, as these supplements do not aggravate their allergies like dairy-derived proteins do.
Thus, plant-based protein supplements are gaining traction amongst lactose-intolerant vegetarians. This opens up new avenues for players to gain market share in the plant-based protein supplements market.
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Regional Landscape of Global Plant-based Protein Supplements Market
The increasing population of vegans and vegetarians plays a key role in increasing the demand for plant-based protein supplements across the globe. Sales of plant-based protein supplements are gaining traction in established markets such as North America and Europe.
These markets collectively account for more than 65% of the share of the global plant-based protein supplements market. Additionally, these established markets have well-equipped and technologically advanced food ingredient manufacturing industries. Thus, the concentration of manufacturers of plant-based protein supplements is higher in these two regions.
In the global plant-based protein supplements market, manufacturers that are operating at small or medium scale levels hold very low share, and the largest market share is captured by major players in the global plant-based protein supplements market.
The Asia Pacific region is expected to be a promising market for participants in the global plant-based protein supplements market. The increasing popularity of vegan and vegetarian diets and rising demand for natural and plant-based proteins is accelerating the growth of the plant-based protein supplements market in the Asia Pacific. The market in the Asia Pacific region is projected to grow at the highest CAGR over the forecast period of 2019-2027
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Higher growth rate of the market in the Asia Pacific region is positively impacting the growth of the global plant-based protein supplements market, and this trend is expected to continue throughout the forecast period. North America and Europe account for a large share of the global consumption of plant-based protein supplements.
High focus on innovation and increasing product launches are providing momentum to the global plant-based protein supplements market. Players that ensure regular product launches of innovative products of plant-based protein supplements are anticipated to experience substantial growth in their revenues.
However, the high pricing of plant-based protein supplements and non-familiarity of many consumers of plant-based products are expected to restrict the market from reaching its full potential.
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Key Segments of Global Plant-based Protein Supplements Market
PMR’s report on the global plant-based protein supplements market offers comprehensive information on the market, which is divided into three segments - type, distribution channel, and region.
Key Questions Answered in Report
- How much is the plant based protein supplements market worth?
The global plant based protein supplements market is expected to be worth US$ 5 Bn in the year 2021.
- What will be the demand outlook?
The global plat based protein supplements market is expected to grow 1.5 times between 2021 and 2031.
- What was the last 5 year market CAGR?
The plant based protein supplements market grew at the rate of 3.5% between 2015 and 2020.
- What are the key trends of the plant based protein supplements market?
The latest trend on which plant based protein supplements market is being driven is that of growing trend towards veganism. People are moving away from animal-based products.
- What is driving the demand for plant based protein supplements?
The safety and immunity offered by plant based protein supplements are driving the demand for plant based protein supplements.
- What is the market share of top 5 players?
The top 5 players in the plant based protein supplements market include Danone S.A., Roquette Freres, Kerry Group plc, BENEO GmbH, and Glanbia plc. They account for more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include France, Germany, Ireland, Canada, and the US.
- What is North America’s market Outlook?
North America is amongst the significant revenue generators to plant based protein supplements market due to the US.
- At what percentage plant based protein supplements market is going to register growth in Europe?
Europe is expected to register growth rate of 4% in the plant based protein supplements market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and Korea will show persistence in growth in the plant based protein supplements market.