Plant-based Nutrition Market Global Market Report 2023-2029

The global plant-based nutrition market size was valued at USD 12,153.7 million in 2022 and is poised to grow at a significant CAGR of 9.8% during the forecast period 2023-29. The primary factors that drive the market are the growing in the health awareness, rising plant-based nutrition consciousness, and increasing demand plant-based nutrition supplements.

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The plant-based nutrition market is segmented based on type, product type, end-user, and geography.

Based on the type, the market is segmented into the following:
• Protein
• Carbohydrate
• Fats
• Vitamin
• Minerals

Based on the product type, the market is segmented into the following:
• Iron Products
• Minerals and Electrolytes
• Oral Nutritional Supplements
• Vitamin and Mineral Combinations

Based on the end user, the market is segmented into the following:
• Nutraceutical
• Dietary
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Plant-based Protein to Dominate the Plant-based Nutrition Market:
Based on type, protein holds the highest market share. The major factor for the rise of this segment is that the consumption of plant-based protein increased in the recent years by the people eradicates the need of animal-based protein, by shifting towards the healthy lifestyle most of the people are adopting new plant-based supplement which creates new demand for plant-based protein. These factors can drive the Plant-based Nutrition Market growth.

Asia Pacific Plant-based Nutrition Market:
Asia Pacific region is expected to grow significantly in the global Plant-based Nutrition Market size over the forecast period. Plant- based nutrition are safe to use without any adverse reaction, government is promoting the health awareness about the nutrition and healthy lifestyle, which results a significant market share in the forecast years. India and Japan are the emerging market for the nutraceutical, but it is expected to increase in the demand of plant-based nutrition in the forecast years.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The Plant-based Nutrition Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

In September 2022, Tata Consumer enters health supplements segment, launches plant protein powder. TCP's focus on accelerating innovation, strengthening its wellness portfolio, and expanding its total addressable market," said a statement from Tata group's FMCG arm.

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Key players' profiles in the Plant-based Nutrition Market report are; Med Vox Nutrition, Elmed Life Sciences Pvt Ltd., Divi's Nutraceutical, Lifecare Neuro, Matsun Nutrition, Kerry, Glanbia, BioVit Laboratories

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This release was published on openPR.