Emerging Markets Boost Global Plant-Based Protein Supplements Demand

The global plant-based protein supplements market is experiencing significant growth, projected to expand from USD 6.11 billion in 2023 to USD 8.95 billion by 2030, at a CAGR of 5.6% during the forecast period. This surge is fueled by increasing consumer awareness of health benefits, environmental sustainability, and a shift towards vegan and flexitarian diets.

♦ Competitive Landscape and Regional Demand

Key players such as Archer Daniels Midland, Cargill, Incorporated, DuPont Nutrition & Health, Kerry Group, The Scoular Company, Omega Protein Corporation, Roquette Frères, Axiom Foods, Inc., Glanbia plc, and Growing Naturals, LLC are actively engaging in product innovation and strategic partnerships to strengthen their market positions.

North America holds the largest market share, driven by a strong emphasis on health and wellness. Europe follows closely, with a market share of over 21.0% in 2021, and is anticipated to expand at a CAGR of 8.1% from 2023 to 2030. The demand in Europe is fueled by preventive healthcare trends and a growing vegan population, particularly in countries like Germany and the UK.

♦ United States: Growth Opportunities in Plant-Based Protein Supplements

In the United States, the plant-based protein supplements market is witnessing robust growth. Consumers are increasingly shifting towards plant-based diets, driven by health benefits and environmental concerns. Major companies such as Glanbia plc and MusclePharm Corporation are capitalizing on this trend by introducing innovative plant-based protein products. Additionally, the market has seen strategic mergers and acquisitions aimed at expanding product portfolios and market reach.

♦ Asia Pacific: Emerging Trends and Market Expansion

The Asia Pacific region is expected to grow at a CAGR of 9.6% over the forecast period. The increasing consumption of plant-based protein supplements in developing countries like Indonesia, India, and China is attributed to a rising health-conscious consumer base. As consumers' purchasing power grows and a wider range of brands becomes available, plant-based supplements are expected to become increasingly popular.

♦ Europe: Consolidation and Market Updation

Europe held a market share of over 21.0% in 2021 and is anticipated to expand at a CAGR of 8.1% from 2023 to 2030. The demand for plant-based protein supplements in the region is expected to rise due to factors such as the trend toward preventive healthcare, the growing emphasis on healthy living, and increasing demand from countries like Germany and the UK, driven by the region's growing vegan population.

♦ Middle East & Africa: Opportunities and Growth Potential

The Middle East and Africa (MEA) plant-based protein supplements market generated a revenue of USD 175.3 million in 2023 and is expected to grow at a CAGR of 9.2% from 2024 to 2030. In terms of segments, soy was the largest revenue-generating raw material in 2023, while pumpkin seed is the most lucrative raw material segment, registering the fastest growth during the forecast period. Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.

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♦ Breaking Down the Plant-Based Protein Supplements Market: Key Segments Shaping the Industry

♦ 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 global 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 global population's demand for low-fat diets, the protein isolate category has retained the greatest revenue share over the past ten years. Application-wise, the food and beverage sector is anticipated to support the expansion of the global market for plant-based protein supplements due to rising middle-class spending power and population growth. The demand 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

The market is expanding as a result of customers' rising preference for a clean diet. One of the major factors driving the global market for plant-based protein supplements is consumers' growing health consciousness, which is predicted to propel market expansion. Consumers are becoming more health concerned due to rising rates of obesity and other related conditions, which is increasing the use of low-fat and low-calorie products. Another significant development in the global market for plant-based protein supplements is the rising appeal of high-end brands of healthful goods with a range of useful advantages.

♦ by Form

Protein Isolate
Protein Concentrate
Textured Protein

♦ by Application

Sports Nutrition
Additional Nutrition
Others

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♦ Meet the Industry Leaders Revolutionizing the Plant-Based Protein Supplements Market

1. Archer Daniels Midland
2. Cargill, Incorporated
3. DuPont | Nutrition & Health
4. Kerry Group
5. The Scoular Company
6. Omega Protein Corporation
7. Roquette Frères
8. Axiom Foods, Inc.
9. Glanbia plc
10.Growing Naturals, LLC.
11.Manitoba Harvest Hemp Foods
12.Amway Corporation
13.AMCO Proteins
14.QuestNutrition
15.MusclePharm Corporation
16.NOW Foods
17.CytoSport, Inc

♦ Uncover Key Insights Answering the Biggest Questions in the Plant-Based Protein Supplements Market

What is Plant-Based Protein Supplements ?
What is the growth rate of the Plant-Based Protein Supplements Market?
Which are the factors expected to drive the Plant-Based Protein Supplements market growth?
What is the CAGR at which the Plant-Based Protein Supplements market will grow during the forecast period?
What are the different segments of the Plant-Based Protein Supplements Market?
Which is the fastest growing region in the Plant-Based Protein Supplements market?
What growth strategies are the players considering to increase their presence in Plant-Based Protein Supplements ?
What are the upcoming opportunities and trends for the Plant-Based Protein Supplements Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Plant-Based Protein Supplements Market?
Who are the leading companies and what are their portfolios in Plant-Based Protein Supplements Market?
What segments are covered in the Plant-Based Protein Supplements Market?
Who are the key players in the Plant-Based Protein Supplements market?

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♦ Explore the Revolutionary Products Powering Market Success

Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• 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

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