Plant Based Protein Supplements Market Size, Share and Demand by Top 10 Players in The Globe Till 2026

The global plant-based protein supplements market is likely to expand at an impressive CAGR of 7.48% due to an increasing demand for vegan sources of proteins. The study further mentions that increasing demand of consumers for sustainable innovation in the supplements sector would boost the plant based protein supplements market growth during the forecast period. The global plant based protein supplements market size is projected to reach USD 7.38 Billion by the end of 2025, thereby exhibiting a CAGR of 7.46% in the forecast period.

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This information is published in a recent study by Fortune Business Insights, titled, "Plant Based Protein Supplements Market Size, Share and Industry Analysis by Type (Soy Protein, Pea Protein & Wheat Protein), By Distribution Channel (Mass Merchandisers, Pharmacies/Drugstores, Specialty Stores, Online Retail & Others), and Regional Forecast 2018-2025." However, the market was valued at USD 4.16 Billion in 2017.

List of prominent companies that are operating in the global plant based protein supplements market are:

o Glanbia plc
o Danone S.A.
o Nuzest
o Iovate Health Sciences International Inc.
o Roquette
o Amway
o Kerry Group
o Transparent Labs
o BENEO GmbH
o Blue Diamond Global Ingredients Division
o Other key market players

Highlights of the Report

o Comprehensive analysis of plant based protein supplements market trends, growth drivers, obstacles, opportunities, challenges, and consumer behavior.
o Profile of key companies.
o Comparative analysis based on market players' business overviews.
o Competitive landscape consisting of joint ventures, merger & acquisition, partnerships, innovations, and product launches.

Increasing Adoption of Vegan Dietary Patterns to Drive Growth

In today's health-conscious world, there is a rising trend of vegan diets, which is accelerating the plant based protein supplements market. In the developed countries of the West, vegan dietary patterns have established strong roots. The snacks categories, sports nutrition, meat alternatives, and dairy alternatives are evolving at a fast pace owing to the utilization of various plant proteins. Besides, there is a rise in the adoption of ready-to-drink beverages that are also driving growth.

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The Booming Industry of Sports Nutrition Will Favor Growth in Asia Pacific

Geographically, the plant based protein supplements market is segregated into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Out of these, Europe and North America are considered to be the biggest markets. This growth is attributable to the increasing awareness programs amongst the masses about the health benefits of plant based proteins.

The Middle East and Africa and Asia Pacific are anticipated to experience immense growth during the forecast period owing to the expansion of the sports nutrition industry. Consumers in these regions are gradually inclining towards vegan sources. In Asia Pacific, countries, such as Indonesia, India, and China are the main hotspots of the market.

Key Market Players Focus on Innovative Product Launches to Strengthen Position in Market

The market consists of small, medium, and large enterprises. The industry giants are striving persistently to gain maximum plant based protein supplements market share and increasing product portfolio by launching novel products. Below are few of the latest industry developments:

May 2019: Burcon NutraScience Corporation, a research and development company based in Canada, unveiled its two new innovative protein blends made from canola and pea called Nutratein-TZ and Nutratein-PS, respectively. They possess low allergenicity and exceptional functional properties. Nutratein-PS can be used to fortify dairy-alternative beverages similar to almond milk. The Nutratein-TZ is best suited for formulating plant based meat products, namely, veggie-sausages and veggie-burgers.

January 2019: Amazing Grass, a provider of plant-based, whole-food nutrition bars and powdered supplements launched its new product line called Amazing Protein Glow. The supplement contains 100 percent active ingredients that are taken from plants. It provides a blend of nutritional proteins and hence, poses as an outstanding source of important vitamins. It is animal-free and is capable of supporting collagen synthesis for a natural glow and healthy skin.

October 2018: Danone, a leading multinational food-products corporation based in France, announced that it is planning to triple the size of its plant-based industry by the end of 2025. For this, it will combine the high plant-based growth potential with its position in the dairy industry.

Major Segments includes:

By Type

o Soy Protein
o Pea Protein
o Wheat Protein
o Others

By Distribution Channel

o Mass Merchandisers
o Pharmacies/Drugstores
o Specialty Stores
o Online Retail
o Others

By Geography

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This release was published on openPR.