Plant-Based Protein Supplements Market to Reach New Heights in 2024 Mergers, Trends, and Key Developments

𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧: 𝐓𝐡𝐞 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐏𝐨𝐩𝐮𝐥𝐚𝐫𝐢𝐭𝐲 𝐨𝐟 𝐏𝐥𝐚𝐧𝐭-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬

The global plant-based protein supplements market is experiencing rapid growth, driven by a shift in consumer preferences toward healthier, more sustainable lifestyles. With increasing awareness about the health benefits of plant-based diets and growing concerns over the environmental impact of animal farming, consumers are increasingly turning to plant-based protein products for their nutritional needs. The market is expected to continue expanding in 2024, fueled by innovations, new product launches, and a growing number of mergers and acquisitions (M&As) among leading industry players.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐛𝐞𝐥𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/28362/

𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐏𝐥𝐚𝐧𝐭-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝟐𝟎𝟐𝟒

Several trends are driving the plant-based protein supplements market in 2024, with a focus on health, sustainability, and consumer demand.

1. Rising Demand for Vegan and Plant-Based Protein
Consumers are becoming more health-conscious, with a growing preference for vegan and plant-based diets. Proteins derived from plants such as pea, soy, rice, and hemp are gaining popularity due to their perceived health benefits, including lower fat content, easier digestibility, and a reduced environmental impact.

2. Innovation in Plant-Based Protein Sources
Innovation in plant-based protein sources is a key trend. Companies are increasingly offering protein blends that combine various plant-based proteins to improve taste, texture, and nutritional content. This helps address some of the challenges associated with plant proteins, such as flavor and completeness of amino acids.

3. Clean Label and Natural Ingredients
Consumers are seeking products with clean labels, meaning they prefer protein supplements made from minimal ingredients, with no artificial additives, preservatives, or fillers. The growing demand for natural and non-GMO ingredients is shaping the market, with brands focusing on transparency in sourcing and production.

4. Increased Focus on Sports Nutrition and Fitness
The demand for sports nutrition products, particularly plant-based protein supplements, is on the rise. Consumers, especially athletes and fitness enthusiasts, are increasingly turning to plant-based alternatives to traditional animal-based proteins. This trend is supported by growing awareness about the environmental and ethical concerns related to animal agriculture.

𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐥𝐚𝐧𝐭-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Mergers and acquisitions (M&As) are playing a critical role in the evolution of the plant-based protein supplements market. Industry leaders are consolidating their positions, expanding product portfolios, and entering new markets. Below are some of the notable M&As from different regions:

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐛𝐞𝐥𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/28362/

Key Mergers and Acquisitions in 2024:
Vietnam: In Vietnam, VegaPro, a leading plant-based protein supplement company, merged with Green Fields, a popular supplier of organic plant protein from local crops. This merger aims to increase the availability of locally-sourced plant-based protein supplements, catering to the growing health-conscious consumer base in Vietnam and Southeast Asia.

Thailand: TeraProtein, a major player in Thailand's plant-based protein industry, acquired NutraFit, a Thai-based nutrition company specializing in plant-based protein bars and snacks. This acquisition is part of TeraProtein's strategy to expand its product offerings and enhance its market presence in the APAC region.

Singapore: Glanbia Nutritionals, a global leader in performance nutrition, acquired VeggieFuel, a Singapore-based company specializing in high-protein plant-based powders. The acquisition will enable Glanbia to strengthen its position in the Asian market, where demand for plant-based nutrition products is growing rapidly.

Japan: In Japan, Daio Paper Corporation acquired PlantPower, a local company known for its plant-based protein shakes. The acquisition aims to diversify Daio Paper's portfolio and position it as a major player in Japan's growing plant-based nutrition market.

South Korea: Korea's CJ CheilJedang acquired MyProteinAsia, a South Korean plant-based protein supplement brand. The acquisition allows CJ CheilJedang to expand its plant-based protein product lines and strengthen its position as a market leader in nutritional supplements.

United States: PeaPro, a US-based manufacturer of plant-based protein powders, was acquired by Nestlé in 2024. This strategic acquisition expands Nestlé's portfolio in the rapidly growing market for plant-based protein supplements, adding plant-based alternatives to its existing line of dairy and meat products.

European Union: In the EU, Oatly Group (Sweden) acquired HempPro, a UK-based company known for its hemp-based protein products. The acquisition strengthens Oatly's market leadership and helps the company tap into the growing demand for hemp-based protein supplements in Europe.

𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐥𝐚𝐧𝐭-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭

Protein Powder
Protein Bars
Ready-to-Drink (RTD)
Others

𝐛𝐲 𝐑𝐚𝐰 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥

Soy
Spirulina
Pumpkin Seed
Hemp
Rice
Pea
Others

During the projected period, the soy segment is anticipated to drive the worldwide market for plant-based protein supplements based on raw materials. Demand for soy proteins is rising as a result of customers' growing desire for vegan diets worldwide. Due to the expanding worldwide population's demand for low-fat diets, the protein isolate category has retained the greatest sales share over the past ten years. Application-wise, the food and beverage sector is anticipated to support the expansion of the worldwide market for plant-based protein supplements due to growing middle-class buying power and population growth. The need for animal feed with vital minerals, a high protein content, and vitamins is being driven by the growing number of animal stocks.

𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

Supermarket
Online Stores
DTC
Others

𝐛𝐲 𝐅𝐨𝐫𝐦

Protein Isolate
Protein Concentrate
Textured Protein

𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Sports Nutrition
Additional Nutrition
Others

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐛𝐞𝐥𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/28362/

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐥𝐚𝐧𝐭-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Several key players are leading the charge in the plant-based protein supplements market, driving innovation, and capturing a significant share of the global market. These companies are also heavily involved in research and development to improve the quality and variety of plant-based protein products.

PeaPro: A leading producer of pea protein powders, PeaPro is one of the top suppliers of plant-based protein supplements in the US market. The company's high-quality pea protein products are used in protein shakes, snack bars, and vegan meal replacements.

Glanbia Nutritionals: With an extensive portfolio of plant-based protein products, Glanbia offers solutions for sports nutrition, functional foods, and dietary supplements. The company has a strong focus on innovation and sustainability in its sourcing of plant-based ingredients.

Oatly Group: Known for its plant-based dairy alternatives, Oatly has been making waves in the plant-based protein supplements space by expanding its product offerings, including protein powders and protein-based snacks.

Sunwarrior: A leader in the plant-based protein segment, Sunwarrior produces a wide range of products, from protein powders to ready-to-drink protein shakes, using ingredients like brown rice protein and pea protein. The brand is committed to sustainability and transparency in sourcing.

Orgain: Orgain is a prominent name in the plant-based protein supplement industry, offering a variety of vegan protein powders, bars, and shakes. The company's commitment to organic ingredients and clean labels resonates with today's health-conscious consumers.

Vega: A pioneer in plant-based nutrition, Vega offers a wide range of protein powders, bars, and shakes, all made with plant-based ingredients like pea protein, hemp, and brown rice. Vega is known for its innovation and commitment to health and wellness.

Huel: Huel is a rapidly growing company in the plant-based protein supplement market, known for its high-protein meal replacement products made from plant-based ingredients like oats, peas, and rice. Huel's products are designed for convenience, offering a balanced and nutritious option for consumers on the go.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Despite the growth, the crackers market faces challenges such as price fluctuations in raw materials (wheat, grains), regulatory hurdles, and competition from healthier snack alternatives like nuts and seeds. However, there is a significant opportunity for companies to innovate in terms of flavor, packaging, and health-oriented offerings.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

Plant-Based Innovations: As more consumers adopt vegan and plant-based diets, there is a growing opportunity for crackers made with plant-based ingredients such as chickpea, lentils, and quinoa.
Sustainability: Eco-friendly packaging and sustainable ingredient sourcing are becoming crucial factors for consumers, creating opportunities for brands to align with sustainability trends.

𝐓𝐨 𝐆𝐞𝐭 𝐌𝐨𝐫𝐞: https://www.maximizemarketresearch.com/market-report/global-plant-based-protein-supplements-market/28362/

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𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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